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What to do if you go off track on your financial goals

Since financial markets are volatile, you have to assess if you are on track towards your financial goals. A few small tweaks can help you stay on track, when things appear off track.

July 29, 2022 / 14:41 IST
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Many people invest and save to become homeowners, or to buy that new car, or to send their children to a great college. These financial goals are some of the most challenging in life and require enormous planning, and evaluation, re-evaluation and monitoring to ensure they are on track and will provide the returns you need on time.

But what happens if you go off track?

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By its very nature, the investment market is highly volatile and unpredictable, which necessitates constant reassessment so that you are on the ball. Going off track does not mean your money is lost; since the nature of the market is uncertain, there are many corrective steps that you can take to protect your money.

Here are some steps you can consider when it comes to take another look at your financial planning strategy: