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Premium
Retail investors should carefully manage their position sizing. (File photo)
A record 1.2 million new investors entered mutual funds in July, the highest since December 2021, spurred by strong stock market performance and the attractive returns of equity mutual funds. These new investors must approach the market cautiously.
Adopting overly aggressive strategies without considering risk could lead to significant losses during the next downturn. If such losses force them to exit the markets prematurely, that would be a setback, as long-term investment in equities is crucial for wealth building.
Clear your debts
Pay off your debts, especially high-cost ones like personal loans and credit cards, before starting your wealth-creation journey.
