This Is How You Beat Inflation in 2023 😱😱😱
👋🏼 Hola! 👋🏼
I hope you’re doing well! If you are, I’m so glad! If not, remember that time heals & explains everything, this too shall pass :) Sending a zillion fuzzy virtual hugs to each one of you, anyway!
What I was up to: This week has been crazy busy for me. I know if I talk about missing Niyati aka my support system one more time I’ll be hearing people sighing from every nook & corner of the world but that is the truth. Be it business or life, I believe everything you do is easier on you and will turn out much better in terms of quality when you have a trustable partner to lean on. Touchwood, I am one lucky woman on both of those fronts!
Coming back to what I was saying, this week has been hectic AF with back-to-back shoots, meetings, team calls and whatnot. But the most exciting thing about this week has to be the collaborations! I did a tiny reel collab with Navneet Pavithran on The Struggle With Bank Recovery Agents and shot/recorded an insanely fascinating podcast episode with Ashdin Doctor, the habit coach, and we talked about the habits we can form around money!
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Market ka haal is almost making me wanna bawl! After Silicon Valley Bank, First Republic Bank too pulled a fast one on the international markets and sold millions of stock, requiring a $30 billion lifeline from other Wall Street Banks to restore customer confidence. This still means that the market is dicey enough for all of us to be mindful of every little move because if banks themselves can't be safe, then who are you and I?
The seemingly immune Cryptocurrencies also seem to be wanting in on the crash so I don't think no asset class is immune to drama in the market. Although India has felt repercussions with declining Sensex & Nifty ending at a low this week, our markets still seem to be robust given that our domestic economy is doing decently well (read: none of our banks is crying out loud for help for heaven's sake!), so we seem to be good!
At this point what we must all do is go back and do a quick check on the state of diversification of our portfolios. No asset can be 100% risk-free, I'm sure you know that by now so rebalance your portfolio to include low-risk instruments if need be. Of course, I come bearing a great way to do that, duh, read on! But tell me this first:
Humara Gyaan: There was a time when a LOT of finance creators were dissing grandparents’ favourite investment option (Fixed Deposits). But, FDs are BACK in action, and can now BEAT inflation 💃
Now considering everywhere else (including the equity market), there seems to be plenty of uncertainty, people are considering getting FDs back in their portfolio because they’re offering up to 8% in returns in some cases!
Should you be investing in FDs?! I’d say YES a thousand times over!
I’m a firm believer in having multiple variations of investment vehicles in your portfolio. But keep these 3 things in mind before you go shopping for FDs:
✅ Do it for the right reasons:
Understand the products you are willing to invest in and why you're investing in them. Make sure you lay out a good financial plan and find the right investments that fit your needs.
🌊 Think about your financial goals and timelines
Tides will come and go, but don't simply panic buy/sell based on what seems like a great option now. Switching back and forth and not sticking to your investment plan can seriously hamper the returns.
🧐 Remember to reassess and realign.
Things keep changing, in the financial markets and in our lives. Make sure every 6 months or 1 year you reassess your goals and realign your financial plan to your needs!
That’s it for this week, take care of yourself and all of your loved ones, buy them their fav food or ask them how you can help,
Let’s talk soon!
Sayali ♥
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