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108 Mantras For Financial Success
Table Of Contents SECTION 1-Procedural 1: Read The fine print before you sign 2: Evaluate your advisor/relationship manager 3: Power of attorney (POA: Give responsibly) 4: Give clear instructions to your advisor/relationship manager 5: Never pay cash to your advisor /agent 6: Avoid dealing with multiple banks and brokers 7: Demand draft/Delivery Instructions…don’t let it slip 8: Be on time…even for payments 9: Statements, contract notes …Trust but verify 10: Safeguard your documents. 11: Suspicious movement? Investigate! 12: Right complaints….write complaints! 13: Password ..your top secret. 14: Keep your profile updated 15: Complete formalities while closing your account 16: Technology is an enabler 17: Be aware of online risk 18: Credit cards: Safeguard Against Fraud SECTION 2-Financial planning 19: In investing, it pays to start early 20: Portfolio manager …Choose with care 21: Make an investment plan 22: Assess your risk appetite 23: Invest with a long time perspective 24: Save For the rainy day 25: Buy value with margin of safety 26: There is no free lunch 27: For major expenses ,plan in advance 28: Borrow but within limits] 29: Money Available …Don’t take credit. 30: Get the macro picture right 31: House wives Beware! 32: Trust only Expert advice, especially if your old 33: Plan, but do not evade taxes 34: Don’t ignore inflation 35: Diversify across asset classes 36: Gold is a hedge against inflation 37: Think twice before getting locked-in 38: Watch your portfolio 39: Rebalance your portfolio to stay on track 40: Let some opportunities pass 41: Do not mistake luck for skill 42: When you lose ,Don’t lose the lesson 43: Unwieldy portfolio is unyielding 44: Bubbles will burst play safe SECTION 3-Equities and Commodities 45: Trade through registered brokers only 46: Trading through a sub-broker ‘Check credentials 47: Good research helps ….good brokerage is not all . 48: Go the Demant way …save tress, Troubles and spaces 49: Avoid off market transactions 50: Invest in business that you understand 51: Study business potential and prospects 52: Avoid Companies with dubious Management 53: Don’t trade with money you can’t afford to lose 54: Trade in future & Options with care 55: Guaranteed returns in equities? It’s a lie! 56: Do not blindly follow FIIs or MFs 57: Suggestions abound..value your opinion too 58: Never trade on insider information 59: Great names are not always good investments 60: Not all IPOs make money 61: Avoid penny and Z category stocks 62: Commodities trading is not for all 63: Diversify equity exposure across sectors 64: Don’t get misled by approvals from government 65: Don’t rely on technical analysis alone 66: Past performance does not predict future performance 67: Sell when market flares up irrationally 68: Don’t marry your stocks..sell when the time comes 69: When it rains, everything gets wet 70: Don’t blindly chase low multiple stocks 71: Beating the markets Is difficult 72: Markets can remain irrational longer than you can remain solvent 73: Stay away from the operator-driven counters 74: Understand risks in day trading 75: Know when to stay out of the markets 76: Do not risk too much in any one trade 77: Short selling is not for small investors 78: Know when you will sell before you buy a stock 79: Adhere to a stop loss while trading 80: Be A bargain hunter among quality Stocks 81: Averaging is not a foolproof way to make money 82: The ‘Bigger fool’ theory may not always work 83: Inactive account ?Freeze it now, use it later SECTION 4-Insurance and Mutual Funds 84: Get a slice of Life insurance 85: Honesty is the best insurance policy 86: Insure adequately :Better to have more than less 87: Insurance :It is not a onetime exercise 88: Younger the better for insurance 89: Medical insurance: Even for the healthy 90: Small premium can mitigate big calamities 91: Cancellation of policies :Don’t let go till you are covered again 92: All mutual funds are not alike 93: Beware of loads and expenses in mutual funds 94: Index funds are your friends 95: Build your portfolio ,SIP By SIP SECTION 5-Real Estate 96: Check Credibility and track record of builder 97: Checkup approvals 98: As you pay so shall you get, Are you sure? 99: Pay for what you want 100: Location, location, location 101: Know your affordability SECTION 6-Loans And Borrowings 102: Repayment history defines your financial character 103: Ignorance is it a bliss, know your loan terms 104: Borrow wisely: Choose the loan most appropriate for you. 105: Loan against gold jewellery, emotions are embedded 106: Home loans: Floating rate can shrink you 107: Lenders’ recovery agents –Know your rights 108: Auto loans: Understand the total cost .