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Top 4 Wealth Creation Myths That You Must Not Believe
Most of us tend to be quite optimistic about investment choices, and we tend to believe that our investment decisions will be correct. Unfortunately, over time we realize that not all our investment decisions will be correct, and we start to develop ideas regarding how wealth creation works. These ideas can be sourced from financial magazines and blogs, the experiences of our friends and relatives, and our own experiences.
What drives mutual fund’s growth?
Mutual fund investing provides many benefits, the key one being diversification. The others include reduction in transaction costs and sharing of liquidity risk. On the surface, mutual funds appear to be a simple product. These financial intermediaries pool funds and invest them on behalf of the investors as per the objectives of the fund. Though simple in concept, the value chain of mutual fund comprises a cluster of services.
5 steps to financial planning success
Financial planning is a dynamic on-going process that requires continuous monitoring. Review of the actions recommended in the plan should take place regularly, and the goals should be reviewed annually to take account of a change in income, asset values, business or family circumstances. Financial Planning that follows a properly defined and documented process will give the greatest chance of a successful outcome.