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On January 14, you must have seen the skies filled with colorful kites soaring high up. Makar Sankranti falls on the day when the sun leaves the tropic of Cancer towards the tropic of Capricorn, which is called Makar in India.

In other parts of the country, this festival is referred to as Poush Sankranti, Pongal, and Uttarayan. Farmers celebrate this day as it marks the end of the winter and ushers in the harvesting season.

Significance of kite flying on Makar Sankranti

Sankranti means movement and kite flying represents the thankful attitude of humans for this movement. It also has a scientific significance. As the sun commences its journey towards the tropic of Capricorn, it emanates useful rays. When you fly kites on this day, you expose yourself to the beneficial sunrays that have medicinal advantages.

Although Makar Sankranti is over, it is essential that you know about several important lessons this auspicious festival teaches as these teachings may prove to be beneficial during financial planning. Listed below are six important lessons this festival teaches you.

1. Be ready for movement

When you undertake investment planning, you have to understand that it is not a static one-time procedure but requires constant movement. You need to continuously monitor the performance of your long-term investments and make modifications when necessary. Additionally, you need to review and analyze market conditions to identify good opportunities that offer economic advantages to your investment portfolio. When you consider different financial instruments, it is crucial you consider your investment objectives to make the right decisions. This customization of your investment portfolio is comparable to personalizing your kite that has the perfect string which allows it to soar high in the clear skies.

2. Keep your eyes on your portfolio

When you fly your kite on Makar Sankranti, it is important to keep your eyes on it at all times. You must always be aware of how your kite is flying and in which direction. Similarly, prudent financial planning requires that you keep an eye on the performance of your investment portfolio. The performance of the various financial instruments must be in line with your short, medium, and long-term goals.

3. Maintain flexibility

As you fly your kite, you need the string to be kept flexible. This allows your kite to continue soaring amidst gusts of strong winds. This is true even with your short-term and long-term investments. Their performance will not always be the same and there may be ups and downs. Furthermore, the investment environment is not always conducive because conditions are never perfect. There is a possibility that your portfolio may be in the red. You need to ride out the difficult times and remain patient. It is crucial you are flexible and willing to bear temporary losses in the short-term to reap long-term benefits. However, you must never lose sight of your investment objectives and make modifications that become necessary under changing environments.

4. Adequate safety

To ensure you do not injure yourself, you cover your fingers with tapes and bandages while flying a kite. Similarly, you need to ensure adequate security when investing in any financial product. You must protect your investments from significant market conditions.

5. Remain invested

When you fly your kite on Makar Sankranti, you stand the entire day to make gains. Similarly, when you invest in different financial instruments, it is important to remain invested for a longer period. It is said that time in the market is better than timing the market. Therefore, to maximize your gains through investments, it is recommended you hold these for a longer time.

6. Strike the right balance

During winters, days are short and nights are long and vice versa during the summers. However, on Makar Sankranti, the day and night are of an equal length. Just like that, when you invest, you must aim for the right balance between your risks and returns. You must choose financial products that suit your risk appetite while delivering decent returns on your investments.

Striking the right balance between risk and return requires adequate research and effective planning. You need to study the market conditions and understand the features of different financial instruments. This may not be an easy task especially if you are new to investing or have no experience in conducting such analyses.

Through the proprietary ARQ investment engine in Angel Wealth’s mobile application, you can achieve this balance. This engine uses algorithms and quants to analyze a billion data points and offers recommendations that suit your financial objectives and risk appetite. There is no human intervention in the entire procedure ensuring the recommendations are completely unbiased.

Download the Angel Wealth mobile app and apply the lessons learned from Makar Sankranti into practice.

Exchange Traded Funds (ETFs) are a great way to build an effective retirement portfolio through your Roth IRA or IRA contributions due to their low expense ratios. ETFs offer investors exposure to a diverse set of assets. They are currently one of the fastest growing investment products in the world due to the low expense ratio and their high diversification. ETFs can be traded through virtually every big-name brokerage available. Brokerages oftentimes will partner with ETF providers to offer free-commission on ETF trading, which helps you save even more money on expenses!

ETFs are effectively mutual funds, but trade like any other stocks. When you purchase a single ETF share, you gain access to an entire index such as the S&P 500 or the Dow 30. Or, investors can purchase market segments (e.g., financial, industrial or healthcare sectors) within a given country. Thus, making them a highly efficient investment tool. The substantial growth in the ETF market has led to a number of new, distinct ETF products such as the MSCI All Country World Minimum Volatility Index or the Dow Jones EPAC Select Dividend Index. The Dow Jones EPAC Select Dividend Index provides great dividend growth income and that can be reinvested or used as cash flow for other investment products.

Here are main benefits in investing in ETFs:

1. Flexibility: With a number of distinct indexes and options, individuals with retirement accounts can trade commission-free AND can obtain exposure to countries all over the world. If you choose, investors are able to gain exposure to the entire world if you sure please. In addition, ETFs offer the flexibility to be traded as a stock for a market price.

2. Cost Efficiency: ETFs based on indexes are in one transaction that trade all components of the underlying index. Investors are usually not charged any entry or exit fees and management fees are substantially lower than mutual funds. For example, ETFs expense ratio are usually around 0.1 – 0.8% whereas mutual funds are about 1.40%

3. Transparency: ETFs are transparent due to the fact that they list on regulated markets and track transparent indices. The ETFs are traded through the day and there are highly competitive bid/ask prices provided by market makers ensuring ample liquidity.

ETFs are really a simple form of mutual funds and can be used in a variety of ways. If you start investing early in a set of 3-4 mutual funds that offer differentiating diversification, you will be in a great position for retirement. Investors should set aside a predetermined amount of capital each month to purchase ETFs. Given their low expense ratios and flexibility, investors can sleep well at night knowing that their money is being put to good use and is generating income while they are enjoying life.

ETFs are not a guaranteed investment. Be patient with the market and continue to purchase additional ETF shares regardless. The old saying is: “I would prefer my time in the market rather than timing the market.”

Millionaire Mob is a former investment banker that hopes to offer fair value on Wall Street while traveling the world. I enjoy helping others in achieving financial freedom whether that is through dividend growth investing, passive income techniques or travel rewards strategies.

While it is hard to imagine, a crime that we see committed over and over, are crimes against elderly people by way of fraud and other forms of exploitation. Not only is this illegal, but it is also immoral and it is hard to imagine something like this happening to someone we know and love. At Freedom Debt Relief, we want to help caregivers and loved ones to avoid the older people in their lives from becoming victims of elder exploitation.

Sadly, a recent study Freedom Debt Relief reviewed shows that almost $3 billion is fraudulently exploited out of seniors each year. That is each and every year. This is a huge loss of money for people who generally live on a fixed income and this reduced income can spell disaster for the person’s ability to meet their daily needs. While it would be nice to think that this is rare, the numbers just don’t bear that out.

As Freedom Debt Relief found out, 1 out of every 5 people over the age of 65 has or will suffer from some form of elder fraud. This is a huge number and it means that, chances are, you or an older person you love could also be a victim of these predatory processes. What follows are just a few tips and hints on how to manage your own, or help the older person in your life manage their finances in a way that reduces the likelihood of becoming a victim.

Cognitive Decline and Finances

One thing that Freedom Debt Relief found is that those who are of advanced age (80+), as well as those who are suffering from some form of cognitive decline are far more likely to be victims of fraud than those who do not. If you start to notice that your memory isn’t what it once was, or if you are a caregiver who notices this about a loved one, you might want to turn over control of the finances to someone who can manage it. This will reduce the likelihood that your finances or your loved one’s finances are compromised as a result of someone taking advantage of their decline.

Avoid Scams

While Freedom Debt Relief knows that we want to be able to trust in the kindness of others, the sad fact of the matter is that there are people out there that are looking to scam people. You need to be wary of anyone who is selling something that seems to good to be true or that comes along, promising that, for a fee, they will be able to solve all your problems. Older people are far more likely to be targets and victims of such scams as they tend to not be as technically savvy and are more likely to trust other people.

Freedom Debt Relief notes that being open with your finances with someone you trust as you get older is just a smart way to help avoid becoming a victim to fraud. Being willing to turn over your finances to someone you trust if you start to notice some memory slips could ultimately save you your entire savings. Be skeptical and wary of anyone who is trying to sell you something that seems way too good to be true or anyone who thinks they can solve your problems (for a fee, of course) and make your world as good as new. Maintain a high degree of skepticism and enlist the help of someone you trust when making big decisions.

When you’re a parent, expensive situations can come out of nowhere! Whether it’s an unexpected medical bill, an important field trip, school supplies, or a seemingly endless supply of diapers, sometimes there’s simply not enough money to cover everything. As a stay-at-home mom, the pressure of financial strain might make you feel as if you have to go straight back into full-time employment, but that’s not always the case. In this article, we’ll discuss some of the ways you can add to the household coffers.

Online surveys

One of the most straightforward ways of making a little extra additional cash is to complete online surveys. Although payouts per survey aren’t huge, over time, consistent survey completion can yield a tidy sum.

Get paid when you shop online

Believe it or not, there are companies that pay you to shop online! Using affiliate links to your favorite stores, you can earn money every time you make a transaction. A percentage of your purchase will be paid back to you; usually you will need to hit a milestone (generally in $5 or $10 increments), and payouts are given as store vouchers or PayPal credits. A convenient way to earn whilst enjoying a little retail therapy!

Transcription

If you have a decent typing speed, reliable internet access, and a good pair of headphones, you could make money from transcription! Online platforms connect freelance transcriptionists with companies looking to have usually short excerpts transcribed. It’s important to note that payments are usually made per hour of audio transcribed, rather the time it takes you to complete the task, so only go into transcription if you can type fast enough to make the task worthwhile. However, if you have the skills, it’s a great way to bring home some extra cash!

Sell old stuff online

Do you have old clothes, shoes, accessories, toys, or gym equipment lying around the house, never used? It’s time to let them go, and earn some money while you’re at it! Selling platforms such as eBay make it straightforward to unburden yourself from the things that are taking up precious room. Simply snap some photos, add a dazzling description, then wait for the bidders to snap up your items.

Start an Etsy store

If you have a creative flair and wish to sell your own products, it’s easy to set up a store on Etsy. Advertise your store across your existing social media, involve friends and family, and create a buzz around your designs. With good word-of-mouth and online reviews, you’ll be making money in no time!

Childminding

If you enjoy looking after children, consider setting up your own childminding business. This may involve gaining some additional qualifications, but your investment can return a significant income once you get going. It will also allow you to keep spending time with your own children while you work.

Cash loans

We all experience times when money is tight; sometimes the best way to go about resolving a temporary cash flow problem is to take out a cash loan. It’s now more straightforward than ever to take out online loans, so do not be afraid to consider it as a solution to your money worries.

Whether you’re getting ready to rent your first apartment, buy your forever home, thinking of renovating your current one, or anywhere in between, there are many ways in which you can still save money.

Statistics show that more and more people are choosing to rent rather than buy a home. This may be due to financial issues or the desire to remain mobile. However, it does not mean you can’t still use your money wisely.

Consider a professional advisor. They can sit down with you and examine your finances, help you decide whether to rent, or – often for the same cost – invest in a house with a mortgage.

If you choose to rent, you can also save money by selecting a property that comes furnished. This will allow you to recoup some costs by selling your furniture, and lowers moving costs, as a van and movers can be a significant expenditure.

Before you sign any contracts, make sure to conduct a walk-through with the landlord. Point out seemingly minor details such as chipped paint and broken appliances. By taking photos and videos, you could be saving yourself money in the future if the landlord were to claim you were the cause of the damage.

Purchasing your first house or moving into your forever home can be an exciting time. You have scrimped and saved for months or years, but that doesn’t mean your saving work is done.

Research is your best friend. There are a plethora of comparison sites such as Colleton River Real Estate that are easy-to-use and allow you to search based on specific criteria. These include: location, price range, property type, and amenities, to name a few. Most of these sites also provide material such as photographs and video; local information on schools, transport, and house prices; and in some cases, the ability to receive price change updates.

For those who feel capable, you can also save money by giving up the traditional agent. Though it is still a new avenue, when done right it can end up saving your thousands of dollars.

If you are already close to living in the house of your dreams, sometimes renovating can be the right choice. Once again, research will be your saving grace.

Get multiple quotes, make sure everything is in writing (including differentiating between labor and material costs), and don’t be afraid to haggle or ask for a price-match. Always use a company that is fully registered and licenced. Check with your local laws and regulations before beginning any work, to avoid your work being demolished at your own expense.

At a time when anxiety is high and all of this might be going over your head, it’s important to remember that, whichever route you choose, there are ways to save money. Take your time, and enjoy this new stage in your life.