How to make money in 2021: As new year draws near, here is what investors should focus on to become rich | Top tips

The year 2020 is almost over. How to make money fast has been a question on everyone's minds even as economic growth plunged globally, making things tougher and tougher. Investors have had a really horror year when the Covid-19 pandemic hit, which was followed by a lockdown. Global and local triggers all turned negative. Since then, things have turned around massively, with stock markets it particular jumping to historic highs virtually on a day to day basis, especially in recent weeks. All risk has been priced in by the markets as and when the demon of uncertainty raised its head. Gold too had raced to all-time highs before paring some gains. So, how to make money fast in 2021? To provide some of the answers, we have with us our Guest - Gautam Kalia, Sharekhan, BNP Paribas. Check out the top get rich tips below:

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We will also be answering a few questions here regarding investment in New Year. These are:

Where should money be invested?
How to become a smart investor in New Year?
Trigger for investment in 2021.
What should be the Investment strategy in 2021?
How to become smart investor?

Before you get to 2021, know what happened in 2020 
How did Sensex perform in 2020 
Market saw biggest fall of the year in March
Market started to recovery in May
Market crossed 40,000 level in first week of November
Market Journey of all-time high continues  
Investors pulled out money from funds in March market correction
BSE Sensex fell by 19% between March 13 to April 3
BSE Sensex YTD return increased by 13.5 % between January 1 and December 17
Index climbed up by 18.4% between October 30 and December 17

Mutual Fund figures in 2020 - AMFI
Redemption in equity mutual fund continues
November equity mutual fund redemption- 12,917 crore
November equity fund redemption- 2,724 crore
Increase in SIP accounts in November
SIP contribution declined in November
Investors continue to pull out money due to redemption pressure Since July

Critical triggers for 2021
Covid Vaccine
Work from Home Trend
Focus on health
Restricted travel
Less footfall in restaurants

2021 Investment strategy for you - be a smart investor
Focus on asset allocation and diversificaton
Equity is in fact volatile asset
Strike balance between equity and debt through asset allocation
Asset allocation make diversification easy.
In asset allocation, invest in equity, debt and gold
In debt, you can add AA,A portfolio  
Managing investment by changing allocation is right strategy
Investment should be for long term
Make long-term targets
Equity good support in long-term
Do not panic from volatility in short term

Three New Year Resolutions you must adopt for 2021
Investment should continue
Do not stop investment in market fluctuations
Continue with SIP
 
Do not walk alone - take help
Take advise of experts
Choose good advisers
Experts advise will come handy in investment
However, do not rely completely on experts advise, do your own research too