7 secrets of wealth management you must know

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7 Secrets of Wealth Management you must know
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• There are going to be many things you figure out
  you have to do when you start working. The
  changes are tremendous to be honest because you
  would have the money all of a sudden and would
  not have the knowhow about saving money or even
  to manage your wealth. This is not just for
  people who have started working in fact, but even
  after many years of working. There are basic
  rules you have to know about wealth management
  and ensuring you are making good growth of your
  money and even know that your money is working
  for you.

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Here are the 7 rules you should stick by to grow
your money
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Understand your goals

• A spot of not being able to meet the goals you
  have planned is a lot worse than not having a
  plan to manage your wealth. In simple words, do
  not over plan or over commit and put yourself in
  a spot that you cannot reach out to later.
  Instead, make sure you have thought about the
  investment amounts clearly and hence make sure
  that you would be able to grow your money the
  right way.
• The first few questions you need to ask is
• What am I saving for?
• What are my goals out of this investment?
• Would I be able to commit to the term of
  investment?

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Knowing what you have to expect from your
investment.

• This is probably one of the reasons that most of
  us look lost at the time of our returns, we do
  not know what we have gained in the first place.
  Keep a distinct number as what you would be able
  to achieve when you put your money in a safe
  spot. It would not only be the best way to be
  sure of your returns but also know just how much
  you can grow your money.

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Would your investment reach your goals based on
past trade?

• Estimating the kind of returns you would get is
  equally important too. If you have planned an
  investment based on a certain life event or goal
  in the future, analyze if this amount would
  suffice and if it did, would it be perfect to
  conduct your activity? If your investment period
  is for say about 10 years, look at the past ten
  years and see if the compounded growth was as
  good as this. If it does add up, it makes perfect
  sense to put in your money with the same thought
  process and expect the same gains.

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Diversify your investment

• This would be the most important rule that
  investors follow. To never put all your eggs in
  one basket. The moment you are putting your
  investment together in one place, you are risking
  it as a whole, critics may say that you have an
  equal chance of it succeeding too, but the
  chances you are putting yourself in is far lesser
  than you think. It would be wise to split your
  investment to different companies so that the
  growth is always seen.

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Buy at the dips

• As an investor, you are bound to see times when
  the market is going to dip considerably. This is
  the only obvious that exists. It is something
  that is bound to happen and you would be able to
  make the most of your investment by purchasing on
  dips so that your average cost is well reduced.
  This is common practise for most large investors
  because they are able to bring down the cost of
  your investment. So, the moment the market
  revives and increases, you are able to exit or
  even book your profits.

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The right financial advisor

• Why hire the wrong wealth management advisor to
  overlook your money? You might as well look after
  your own money and then look at shifting the
  funds in the right funds. So, it makes perfect
  sense to look after your own funds at all times.
  This is the best way to guide your profits and to
  be sure of the growth you can have.

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Know which stocks to buy or sell

• It is so important to have a firm idea on the
  kind of stocks you can buy or sell or how they
  are going to perform over the next few months or
  years. It would give you a better sense of
  investment and hence would only help you
  understand where to invest. If you ever had to
  choose the kind of company you have to invest in,
  always look into growth over the next few
  quarters.

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THANKS!

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