Page 27 - BUSINESS COMMUNIQUE ver. 2

Financial Planning Mistakes You

Should Avoid in 2025 - 26

Rebalancing: Over time, the Here are some important By Mr. H.S. Bagga
value of your investments in reminders:
different asset classes will Achieving Milestones in life:
fluctuate. Restructuring the Did you recently achieve a big
portfolio helps to maintain a goal like buying a house or
desired asset allocation. Ideally, welcoming a new addition to
this should be done periodically, a family? These mile stones
perhaps once a year. might necessitate your life
Significant life changes: As insurance coverage.
mentioned earlier, major life
events might necessitate Financial shifts: Changes in
adjustments to one’s asset income, like a promotion or
allocation career change, could impact
Investment performance: If a your insurance needs. Sound financial planning
financial
planning
Sound
particular investment Reviewing your coverage to requires regular reflection
requires regular reflection
consistently underperforms or no ensure it aligns with your and smart adjustments. As
and smart adjustments. As
longer aligns with one’s goals it evolving financial situation the financial year 2025-26
the financial year 2025-26
might require re-evaluation. can be beneficial.
begins, take charge of your
begins, take charge of your
future by avoiding common
4. NEGLECTING INSURANCE Living with confidence: Having future by avoiding common
missteps. Prioritize planning,
NEEDS a safety net through missteps. Prioritize planning,
review your goals, manage
Life, is like changing seasons. It adequate insurance allows review your goals, manage
risks wisely, and maintain
brings new chapters with people to cherish moments risks wisely, and maintain
discipline.
Thoughtful
evolving needs. In a similar way with their loved ones and discipline. Thoughtful
actions today will lay a a
an individual’s life and health embrace life’s journey with actions today will lay
strong foundation for long-
insurance can also benefit from confidence. strong foundation for long-
term financial security. Plan
a periodic review. Carry out term financial security. Plan
annual reviews. Taking a Reviewing one’s insurance needs, with care, invest with
with
care,
invest
with
moment to review insurance enables creation of a safety net purpose, and secure your
purpose, and secure your
coverage can be a wise practice, that helps in navigating distinct tomorrow.
tomorrow.
perhaps alongside annual chapters of life with immense
financial check ups peace of mind.
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BUSINESS & ENTREPRENEURSHIP CLUB, ISWK