Here are five common mistakes to avoid while re-allocating your portfolio:
✔️Avoiding human intervention
- Robo advisory is fine, but when it comes to asset allocation, human judgement will always fall at a higher pace.
✔️Getting rigid about long-term plans
- Don't forget that your portfolio is based on certain assumptions, considering past, present & future.
✔️Driving re-allocation by likes and dislikes
- Don't let emotions take over your decision-making skills. Avoid falling in love with the stocks you invest in.
✔️Re-allocating portfolio with a fickle mind
- Think through when it comes to portfolio re-allocation. It has costs in terms of statutory, taxes, and opportunity.
✔️Making drastic changes without an expert
- Re-allocation has its long-term returns & risks, don't ignore that. An expert can help you with a better advice.
Have you made any such mistakes while re-allocating your portfolio?
Tell us in the comments below.
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Posted on : 24 Jan 2023 11:06 AM