If only financial plans were more like Bollywood potboilers, where the protagonist scampers past losing situations, stumps all odds, and streams through to a happy ending. Off screen, however, the best laid plans are invariably subverted by reality—the stock market dips, inflation surges, economies collapse, and so do your finances.
It's to avoid such morbid endings that advisers like ET Wealth come into the picture. We help our investors pen scripts that may not give them the high of being invincible heroes, but guide and prepare them in a way that can set their finances soaring.
While there's no time like the present to begin shoring up your finances, a year-ender makes for a poignant starting point. It's that magical period when hope straddles the happy cusp of the past and the future, and wields its wondrous wand to turn remorse into resolve, losses into learnings.
It's the sanguine phase when you are eager to shed your failures and chisel out a spiffier financial scape for yourself. As we ready to harness this hope and tell you how to make the most of 2013, remember that the action plan needs to be rooted in the lessons of the past year and expectations in the one ahead.
Much like every year, 2012 held out crucial pointers, which can be extrapolated to formulate the right strategies. The year told us that though the global markets have not quite righted themselves, India may have started on its path to recovery, and hence, it may not be the right time to quit equity. It spoke of a shaky industry, wherein blue chips too made for a risky investment, but also pushed up sectors that could withstand the economic rumble and made for good picks.
It warned of a recalcitrant inflation, which did not allow interest rates to be trimmed, and though they may not relent this year as well, even a marginal fall could augur well for home loan takers. It revealed the vulnerability of the rupee and the resilience of gold; how these would impact your export or travel plans, and your asset allocation.
In the following pages, we shall treat these lessons as starting points to lay out a financial blueprint for the coming year. We shall tell you how to reap the best interest rates on your deposits, where to invest for the highest growth, which pension plan to opt for to secure your retirement, how to put your career on fast track, how to optimise your spending by checking out the best cars and gadgets lined up for 2013, and how to make the most of your travel.
We shall also list out some financial resolutions that demand to be incorporated in your Plan 2013. We hope our special year-ender package nudges you into the New Year with vital information and verve essential to make you richer.
In keeping with the festive cheer, we have reserved the best for the last. To retain your financial fervour and stretch your horizons in synch with the changing times, we plan to upgrade ET Wealth in 2013. So, over the next few months, we shall introduce new sections and columns across the personal finance spectrum. These stories shall not only be more incisive and evolved, but also serve your financial interests keenly.
http://economictimes.indiatimes.com/personal/finance/savings/centre/analysis/Tips-to-grow-finances--be-richer-in-2013/articleshow/17807709.cms
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