Step 2: Do your homework
Once you have short-listed the important investment objectives, you are already on the path to financial nirvana. You now have to find a way to achieve these objectives. This sounds like a monumental task, but it isn't.
Not when you actually get down to doing your 'homework'. Your homework will simply entail reading business dailies and personal finance magazines and visiting personal finance Web sites. Also meeting up with various financial planners and investment advisors will help.
Take notes of your discussions with them and study the advice from various quarters. The idea is to be well-informed at all times as to what is happening around you, so you don't get taken for a ride by an unscrupulous investment advisor who is looking for easy bait.
Image: A stockbroker makes notes as he trades shares at a stock brokerage house in Mumbai. | Photograph: Indranil Mukherjee/AFP/Getty Images
Also read: 11 things NOT to do with your money
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