Dhanteras: 13 simple and effective ways to create wealth

economictimes.indiatimes.com:

Dhanteras is the day that marks the beginning of the grand Diwali festivities, a time of celebration and wealth creation! As we immerse ourselves in the radiant glow of lights and the spirit of prosperity, let us explore thirteen enlightening ways to manifest and embrace wealth.

1. Invest Wisely, Illuminate Your Future: Just like the lamps that light up our homes, your wealth should also shine brightly. Don't just save; invest your money wisely to beat the eroding effects of inflation.
   
2. Create a Tailor-Made Portfolio: Like the art of selecting the right Diwali outfit, choose your investments judiciously. Consider your risk profile, investment horizon, and potential risks before constructing your financial portfolio.
   
3. Diversify Your Financial Fireworks: As we diversify the array of sweets and snacks during Diwali, diversify your investments across various asset classes. Don't put all your financial hopes in one basket.
4. Kindle the Long-Term Flame: In the short-term, markets get sentimental. They react to different news flows and developments, which have little to no impact on the fundamental story of the investment. Thus, if you want to create serious wealth, it is important for you to avoid a myopic view in favour of a long-term one.
5. Strategic and Tactical Sparkle: Be a financial tactician, balancing a strategic long-term approach with tactical opportunities to make the most of wealth-creating moments.
6. Explore Alternative Horizons: During festivities, we are treated with a variety of sweets. Similarly, explore alternative investments beyond traditional stocks and equities. Private credit, private equity, real assets and other innovative options can add flavour to your portfolio.
7. Seek Expert Guidance: Just as you trust the