The Art of Risk Management- How to Thrive in an Uncertain Economy?
The economy is slowing down.
It is not a recession but the economy has lost its sheen.
The stock market is uncertain.
Are we heading into a recession?
In every 2-5years, we come across such grim news. Even if we overlook the rumors regarding financial emergency which usually spread like wildfire, we cannot outrightly deny the probability of an uncertain economy. Evidently, it makes many of us worried.
How can I move money to safer avenues?
Would I lose my investment?
Should I reduce holdings in stocks?
Rising uncertainty can confuse even financial gurus let alone common investors. However, we all know that getting worried is not going to pull you out of troubled waters. Rather than panicking when an uncertain economy may actually take a toll on your finances in the future, you should better cover all the bases. Smartness lies in currently safeguarding your finances for the upcoming years.
At this point, we can learn valuable financial lessons from the life of famous Chef Ranveer Brar. Yes, the happy-go-lucky chef who has won millions of fans over the years. However, life has not always been blissful to him. Ranveer Brar has experienced his share of financial crisis when the recession hit and Banq (owned by the chef), a fine Franco-Asian restaurant in Boston which was hailed as the best new restaurant in the world, shut down. Needless to say, this pushed Ranveer into deep financial meltdown with a huge outstanding loan that had to be repaid. In his lifetime, the celebrity chef has many setbacks but he has always bounced back. HOW? Due to saving and investments, he managed to get when he was enjoying the successful phase of his life.
“Not taking a risk is the biggest risk of all.” A lesson we can learn from Ranveer’s life. No matter how big or small the financial crisis was, it couldn’t stop him from chasing his passion for cooking. When you are protected, it becomes easier to achieve life goals as Ranveer did.
We want you to achieve all the goals you have planned and live life to the fullest. So, for a better future for you and your family, say #HelloLife with Aviva and go through the following alternatives that can help you thrive in an uncertain economy.
What is the best way to manage risk?
“Risk it all” or “play it safe”?
When it is about your hard-earned money, anyone sane enough would suggest you play it safe. You cannot risk losing all of your money by putting it solely in stocks. Aviva’s savings plans have been curated keeping the uncertainties of your life in focus. Our Savings Plans are life insurance policies that prepare you to face unforeseen future events. Be it a medical emergency or sending your child to a foreign university, saving plans protect you even in a shaky economy. Aviva offers you a wide range of savings plans to meet varying goals, terms, and expectations in your life. These plans not only bring you the safety of savings and investments but also promise tax benefits.
Aviva New Family Income Builder
Every investor needs a plan that provides financial stability as well as protects their loved ones in unforeseen circumstances. Aviva New Family Income Builder is a non-participating traditional insurance plan that combines the convenience of savings along with the benefit of insurance. Best of both worlds! By clubbing life insurance cover with maturity benefits and regular guaranteed pay-outs, this plan helps you multiply your savings and expand your safety net.
Aviva Wealth Builder
From children’s education/marriage to retiring comfortably, we all have aspirations and milestones in our life. The least any of us would wish is an uncertain economy clouding our dreams and not letting us achieve them the fullest. Thanks to Aviva Wealth Builder plan that has been specially designed to help you plan sufficient for these dreams. This life insurance plan guaranteed double the amount of total premium you pay, at maturity.
The bottom line
There is a famous saying, “This too shall pass.” The same applies to every uncertain and unpredictable phase in our life, be it economy, job, family or relationships. If you go back to history, you will see that even the worst meltdowns rolled by and though it took some months, investors finally recouped their losses. Ups and downs are part and parcel of life. We cannot skip them but we can safeguard our finances to thrive in a troubled economy. Rather than freaking out after sensing the brewing trouble, we’d advise you to take appropriate measures NOW!
AN Feb 91/20