Even as the world worries about the loss of precious life due to pandemic, the investing community worries about losses their portfolios seem to be making.By Pankaj K Agarwal
In these challenging times, taking care of your financial well-being comes very close to your physical and mental health. Even as the world worries about the loss of precious life due to pandemic, the investing community worries about losses their portfolios seem to be making. Worry doesn’t help, however. What might help investors tide over the current crisis is some rationality and some caution. Let us see how we can observe investment hygiene to prevent and minimise harm.
Emergency funds
If you fear loss of job/income post Covid-19, see if you have an emergency fund equal to 6-12 months of your monthly expenses. Do it now if you don’t. It is the financial equivalent of N95 masks. Park this money in a bank fixed deposit. Do not forget to cap your FD at Rs 5 lakh per bank. Also check if your personal health…
