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Business News/ Money / Personal Finance/  Only 100 days left in 2023: What should you do now to stay in sync with your financial goals?

Only 100 days left in 2023: What should you do now to stay in sync with your financial goals?

With the last quarter of this calendar year about to kick off in fewer than two weeks, investors can use the remaining 100 days to review their portfolio and take some calculated decisions so that they breeze into the New Year with an air of optimism

Portfolio reallocation is one of the key steps to follow to make the most of your investmentPremium
Portfolio reallocation is one of the key steps to follow to make the most of your investment

As the time rolls on and draws the curtains on this calendar year, we would step into 2024 with some big and small learnings we learnt from the past.

It is no secret that the month of September is about to end, and the last quarter of this year will kick off in fewer than two weeks.

So, we delve deeper to explore what can the investors do during this time of the year and make the most of these 100 days.

Follow these steps in the last 100 days

Learn from your mistakes: Never forget that a brighter future rides on a dark past but only when you learn from your mistakes. So, the first thing that you should do is to review your portfolio.

If you made some mistakes in this calendar year, or lost money because of them should give you a lesson or two. Try not to repeat any of the mistakes you made in the past. After all, there are plenty of new ones to make.

Rebalancing of assets: Even the market reaches an all-time high, it is not the time to do profit booking but rebalancing is definitely required.

“When your investment horizon is multiple years ahead of you, it is important to do the rebalancing of assets. For example, when you wanted your equity-debt assets in the ratio of 70-30 then after the market hit a high, it may have become 85-15, so rebalancing is required and not the profit booking," says Amol Joshi, Founder of Plan Rupee Investment Services.

Passing fads: The cryptocurrencies and non-fungible tokens were quite a huge fad until some time ago and the current year has shown the power of responsible investing.

A case in point is the NFT of first tweet sent by Jack Dorsey that was originally sold for 2.9 million is now valued at less than $4.

Rather than running after a passing fad, it is advisable to stay invested in the credible assets such as equity and debt instruments including bonds and fixed deposits.

Political stability ahead? There are expectations that the market will witness significant swing in the run up to general elections next year and the ongoing volatility is a precursor to that as well. With regards to that, the forthcoming state elections in Nov-Dec are seen key to market movement.

“The forthcoming Assembly polls are quite salient, and will give a hint of how the market will behave ahead of Lok Sabha polls. Additionally, since the market has run up in the mid and small cap categories, the investors can look at asset allocation not only in the equity-debt space but also in different categories of market capitalisation," says Sridharan S., Founder of Wallet Wealth.

Stay true to the basics: The beauty of age-old wisdom of investing is that it is timeless. Regardless of which year and which month you are in, the principles of investing remain the same.

So, investors are recommended to have a long-term vision of the markets and stay invested in the equity for a long term i.e., a minimum of five years to see good results.


Key investment tips by Warren Buffett
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Key investment tips by Warren Buffett

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Published: 22 Sep 2023, 09:09 AM IST
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