We have realised and learned from this global pandemic -novel corona virus, that everyone needs to be prepared and be self-reliant. We feel that in order to be well prepared for unprecedented circumstances, we need to increase our Emergency/Contingency fund from 6 month to 9 months now, take adequate health and life insurance cover.. This addition and creation needs to be done over the next one year. Contingency fund should also include EMI and Investments running monthly, half yearly and yearly requirements. The said fund should park in instruments which are liquid, easy to access and tax efficient. We think it should park your funds in an arbitrage mutual fund and money market liquid funds. This will be a huge conduit in becoming self-sustainable in unforeseeable circumstances like today. In today’s time where one see medical costs increasing, one needs to start opting for higher sum assured now. We usually see our clients opting for 5 lakhs cover, in our view the novel virus has taught us that as an individual one should have at least a minimum cover of 20 lakhs. We should opt for basic policy and over that we should take super top-up, this helps us to decrease overall cost and give us adequate health cover. Adequate Life cover has become extremely consequential. We are witnessing loss of life and livelihood everyday. In our view, an individual should have sum assured equal to liabilities. It becomes even more important when an individual doesn’t have much savings. Additionally, we should analyse our spending pattern before the onset of COVID-19 and during the lockdown, this will help us understand and minimize unnecessary costs and expenditure. Try and save more than what you were saving earlier. This will help you in reaching your goals and financial freedom quicker and with much ease. We always recommend to look for a second source of income/second line of income as it helps as it is helpful in sustaining oneself during economic crisis like the current ongoing pandemic. We would also advise to continue investing in existing equity investments and to start investing if you have surplus. Long term investments could be once in a life time opportunity to create wealth and reach goals early. Itis important to stay in market and be consistent only then one should expect good returns in equity over long term”. It is nearly impossible for us to predict market movement and time the market. Volatility is our friend which will help us build wealth over long term. Short term pain will help reap return in future. The magic to become wealthy is to stay invested, make use of deep falls in equity valuations, stay put for long term and ignore short term pain. We hope that all clients and investors stay healthy, safe and indoor as much as possible. We are open now all days and are available on call, email and WhatsApp. Happy Investing! Stay Safe!