New Delhi: Diwali or Deepavali is seen as the occasion of prosperity and taking a step in trade and investment is seen as auspicious. As the country’s economy gradually grapples with the onslaught of the Covid-19 pandemic, people have started to invest. At this crucial point, financial discipline and an appropriate investment plan are essential to maintain monetary health at the individual level.Also Read – Tourist Attendance Rises In Shimla Ahead Of Diwali As Travelers Rush To The Hills For Vacay
Here are the expert tips for investing Diwali 2021. Also Read – Diwali 2021: Practice These 6 Easy Steps To Self-Love This Holiday Season
Shashank Udupa, Financial Expert, Co-Founder and CFO of Scenes by Avalon said: âDeepavali has always been a time when people invest and buy gold. My Deepavali recommendations – invest money in sovereign gold bonds (SGB), allocation in index funds and buy large cap stocks that are currently discounted due to the recent market correction and hold them for a long time . Also Read – Stock Market Vacation: Sensex will remain closed for 11 days. Check the stock market holidays in November
Raj Shamani – entrepreneur, digital content creator, investor and podcaster said, âDiwali and wealth go hand in hand. It’s a new year for many and it is said that if you start something new or buy new things on Diwali, your whole year will be prosperous. This is why we are seeing an increase in purchases of automobiles, electronics, property and even consumer goods during Diwali. Planning and investing in these areas will make your Diwali rich. This year, we might also see a new trend emerge as people invest more in bitcoin than gold. “
Niyati Mavinkurve, Digital Content Creator and Co-Founder of Let’s Make You Rich said: âFinancial advice that will help you not only this holiday season but also in planning your entire portfolio is to plan your Goals. These include short, medium and long term goals. All the money you need to spend over the next 3 years is a short term goal, anything between 3 and 5 years is a medium term goal and anything over 5 years is a long term goal . Invest according to your goals and review them periodically. This financial discipline will allow you to comfortably spend what you want and not run out of money.
Neha Nagar, Digital Content Creator and Founder of TaxationHelp, said, âPeople tend to buy new things on Diwali. But you have to have a financial plan and execute it accordingly. At the end of a pandemic, you have to invest your money in income-generating assets. It is our responsibility to enjoy the season by investing and spending wisely rather than mourning. Just like cleaning your house during Diwali, you can apply the same ritual in your portfolio. We can remove stocks that are not in line with our objectives and rebalance their portfolio. From an investment standpoint, invest in pure gold or silver. Prices are expected to remain high and are expected to increase in the long term. Although investing in real estate and gold is a good option, but investing ONLY in real estate or gold is risky.