IMPORTANCE OF DIVERSIFICATION AND METHOD

 We usually take and think finance is only part of life but not life, yes as per our mythology finance is part of life it's not life. But if we go through our scriptures, one VEDA is for FINANCE only namely, 'ATHERVA VED'. Where you can find a solution for the whole question you have. Yes, indeed finance is an important part of life.

All complex deals which are happening today are part of VEDA, which we don't need, our problems and their solution are not that much complex but the major issue is behavioral in nature. 

The majority of people go by notion  going around them, they do their research what they see or listen to,

The basic issue is that their need is as per their goals not as per surroundings, hereafter going through all research we have to connect it with our goal.

Here need for a good piece of advice is solicited but we take advice from our near and dear but not from experts. The expert also does not have a ready-made solution but he has experience with the same so he can come with a solution that is not binding on us. Sometimes our near and dear gives us a solution which is practical in nature as they know us very well.

As above said we go by notion not as per need. Practically all we do is listen and execute without going into fine details.

The result of this is dis-balance here our approach should be such that all our needs should be addressed.

It is well known that life is not smooth as we think, if we go in one way it is going to affect our savings and investment.

Plan properly to adjust any issue which will not affect our present at that time.

Take 360* view of all instruments which we are thinking to take. One of the most important points is liquidity, if we maintain that all the time, the issue will be solved with all our targeted goals accomplished always.

How to achieve that in long run cost-effectively is diversification of asset class. As said earlier keep in mind that our goals are not tangible to change all the time. Only minor changes are good but not outright all.

Here you can take the advice of your good wisher and do the needful to achieve it.

The method is very simple

1. Keep all options open.

2. Weigh the solution with tenure.

3. How does it fulfill our needs.

4. Our tenure for a particular goal.

5. Alternate solution if any.

6. Last should be the cost of owning it. ( Dreams and life have more meaning with money than money alone)