Wise investment decisions: Equity markets touched an all-time high in year 2014. It doesn't mean that the investors cannot put in money in the equity market at this time. With the advent of new government and change in new policies, it can be called as the start of a new bull market. Retail investors should select blue-chip stocks from different sectors and invest wisely in 2015.
Mutual funds: When it comes to investing in equities, investors should not ignore mutual fund plans. They should invest a part of their funds in direct MF plans. The investors can save almost 50 basis points in annual charges compared to regular plans. It is a better investment option in terms of returns when compared to debt funds.
Insurance policies: Investment in insurance is a must, but it should be done after thorough analysis. There are several life insurance plans selling in the market. The plan should be selected on the basis of your personal needs. Also, read carefully the terms and conditions of the policy before buying it. It ensures that the dependents don't face any problems while claiming for insurance funds.
Portfolio management: Review the portfolio and find out what worked best for you in last year. Work on your portfolio so that you can reshuffle it depending upon the returns. Change in asset allocation is must as it is not necessary what yielded best returns last year will provide same returns this year. Get rid of the poor performers from the portfolio.
Interest on home loan: The interest rates can see a drop in New Year. It indicates that it is the time to compare the interest rates of different lenders. Do the homework and shift your home loan to the lender offering you the lowest interest rate in the market.