Money Guru: What should be your smart investment mantra in 2023? Experts decode!

As we stepped in 2023, a new year resolution for many of us could be to have better financial planning for a more secure and prosperous future. But doing sound financial planning is not a cakewalk. What should be your smart investment plan in the new year 2023 and what are the first steps to investing and setting ‘SMART’ goals? Zee Business' Swati Raina in this edition of 'Money Guru' speaks to experts to decode the secret. 

नए साल में निवेश का पहला कदम

कैसे बनाएं 'SMART' लक्ष्य

2023 में फायदे के फंड

नया साल,निवेश बेमिसाल#MoneyGuru में आज देखिए - '2023 का 'SMART' निवेश प्लान'

शाम 6.26 बजे @feroze_azeez | @PankajMathpal | @rainaswati pic.twitter.com/Mi2KlGlYWl

— Zee Business (@ZeeBusiness) December 30, 2022

Which segments will do wonders in 2023

Largecap

Large & Mid Cap

Mid cap

Flexi cap

Focused

Multi cap

Small Cap

Contra

How to set 'SMART' goals

Set goals before investing. The target is the one that is 'SMART' Specific, Measurable, Achievable, Relevant, Time Bound set short to long-term goals. Keep inflation in mind while setting goals.

Risk management

Plan for emergencies and insurance. Have an emergency fund equal to 6-12 months of expenses. Keep in mind that there should be liquidity in the emergency fund. Invest in Bank FD, Liquid Fund, Short Duration Fund, and Buy adequate health and life insurance Increase insurance cover with Top-up, Super Top-up.

Asset allocation required

Do this according to investment period, risk appetite, age, and goal. Investing in different asset classes minimizes loss volatility in one asset class and is handled by other Risk-specific returns across asset classes. Asset allocation is effective in market turmoil.

Perform asset rebalancing as and when required.