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What are some common investment mistakes to avoid?

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July 19, 2023

In this policy, the investment risks in the investment portfolio is borne by the policyholder.

Everybody understands the importance of investing for the future. An investment plan enables you to fulfil your future financial goals. However, when you start investing, you might make a mistake that could impact your finances. Let’s look at some common mistakes you should avoid when planning your finances for the future.

Constantly Watching the Market

Many people who enter the investment market worry about losing their capital. They watch the market closely and make knee-jerk reactions. They often pull money out the minute the market dips. When you invest, you must have a long-term plan. Revisit your investment every three to six months, but avoid checking every hour and making decisions based on market changes.

Putting All Your Eggs in One Basket

Some people make the mistake of putting all their money in one investment or one fund. If the one investment does not perform well, you risk being unable to meet your future financial goals. Instead, break up your investment amount across different avenues. Select a mix of market-linked and non-market funds to balance your risk exposure.

Delaying Your Investment

Many people put off investing to fulfil immediate goals instead. When you delay investing, you risk losing opportunities and restrict potential growth. Start investing early to build a corpus over time.

Not Having a Plan

Some people invest for the future. However, they do not have a clear plan of what they hope to achieve through their investment. Before investing, you must list your goals and timelines. You can then identify the ideal investment opportunity to help you meet them.

Failing to Understand the Investment

People today may invest in plans that somebody sells them. Unfortunately, they may not understand the investment properly, which could lead to financial troubles later. Ensure you do your research before you invest. Carefully evaluate your investment options and read all the terms and conditions. Once you understand it, you can start investing.

You can avoid these issues and safeguard your financial future by investing in the HDFC Life Smart Protect Plan. The policy provides life coverage while helping you invest your money to build a corpus for the future. The plan has a five-year lock-in period, which ensures you give your investment sufficient time to grow. 

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Francis Rodrigues Francis Rodrigues

Francis Rodrigues has a decade long experience in the insurance sector, and as SVP, E-Commerce and Digital Marketing, HDFC Life, manages the online sales channel, as well as digital and performance marketing. He has had hands-on experience in setting up sales channels and functional teams from scratch over a career spanning 2 decades.

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Vishal Subharwal Vishal Subharwal

Vishal Subharwal heads the Strategy, Marketing, E-Commerce, Digital Business & Sustainability initiatives at HDFC Life. He is responsible for crafting and ensuring successful implementation of the overall organisation strategy.

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We at HDFC Life are committed to offer innovative products and services that enable individuals live a ‘Life of Pride’. For over two decades we have been providing life insurance plans - protection, pension, savings, investment, annuity and health.

Disclaimer

The Unit Linked Insurance Products do not offer any liquidity during the first five years of the contract. The policyholder will not be able to surrender or withdraw the monies invested in Unit Linked Insurance Products completely or partially till the end of the fifth year.

Life Insurance Coverage is available in this product. For more details on risk factors, associated terms and conditions and exclusions please read sales brochure carefully before concluding a sale. HDFC Life Smart Protect Plan (UIN:101L175V01) is a Non-Participating, Individual Life Unit-Linked Insurance Plan. HDFC Life Smart Protect Plan is the name of the Unit linked product. Unit Linked Insurance products are different from the traditional insurance products and are subject to the risk factors. The premium paid in Unit Linked Insurance policies are subject to investment risks associated with capital markets and the NAVs of the units may go up or down based on the performance of fund and factors influencing the capital market and the insured is responsible for his/her decisions. HDFC Life Insurance Company Limited is only the name of the Life Insurance Company and HDFC Life Smart Protect Plan (UIN:101L175V01) is only the name of the unit linked insurance contract and does not in any way indicate the quality of the contract, its future prospects or returns. Please know the associated risks and the applicable charges, from your Insurance agent or the Intermediary or policy document issued by the insurance company. The various funds offered under this contact are the names of the funds and do not in any way indicate the quality of these plans, their future prospects and returns. 

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