5 New Year resolutions for a financially sound 2024

#1 Buy an insurance policy

Buy health and life insurance. For life insurance, get a term plan.

#2 Don’t leave tax planning till the last minute

This will save you from making poor financial decisions in haste.

#3 Start investing for your golden years

Job uncertainty and soaring inflation mean you should begin planning for a secure retirement right away.

#4 Choose your investments wisely

Don’t invest in assets based on past returns. Decide your risk profile, time horizon and your goals before investing.

#5 Don’t time the market

Since markets are unpredictable, it is best to have a sound asset allocation plan, i.e., how much money to keep in equity and debt.

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