The most popular game in India is cricket and if you are a lover of this game, you may want to cheer from the stands during the ICC World Cup in 2019. England and Wales are jointly going to host the World Cup in 2019.
Although the official venues have still not been decided, it is anticipated that the final may be played at Lords while the opening game may be hosted at the Oval. Do you want to cheer from the stands in the upcoming ICC World Cup?
You have two options; first, you may simply book a package offered by tour operators. Alternatively, you may adopt an investment strategy that gives you the funds required to enjoy the game right from the stands.
The tour operator packages may not be all-inclusive and you may still need to incur certain expenses from your own pockets. Here are three steps if you want to travel through self-planning.
- List of the potential expenses
Before you start your financial goal planning, you must know the exact amount you need to save. List down all the potential expenses you will have to incur to enjoy the games from the stands. Some of the expenses are listed below.
- Airfare and visa costs
- Internal travel
- Game tickets
- Assess your financial situation
The World Cup is still more than a year away and you have sufficient time to plan and save for the trip. To know the exact amount you will need to put away each month, start by assessing your current financial situation. List down your income and expenses to know the disposable amount available to you. In addition, consider any savings that you may be able to use towards your travel.
- Invest in the right instruments
Once you know the exact amount available for investing, you may evaluate the different options. You may invest in debt or equity through fixed deposits (FDs), government bonds and securities, stocks, and mutual fund investments. Each of these financial instruments has its pros and cons. You must analyze your personal requirements before making your choice. Let us understand each of these options in a little more detail.
- Equities: You may invest in the company shares that are listed on the stock exchange. However, it is a risky investment because stock markets are volatile and there is a possibility that you may lose your capital. Nonetheless, the potential to earn higher returns through equities is huge, especially in the long-term.
- Fixed deposits: FDs are offered by banks and are risk-free instruments. However, the interest rate on FDs is not very high and is taxable, which reduces the post-tax returns. It is possible that these returns may be insufficient to even cover the inflation rate.
- Mutual funds: Asset management companies (AMCs) offer multiple types of mutual fund investments. You may invest in equity, debt, or balanced funds. Every fund has its own investment philosophy and is beneficial to achieve certain goals. To ensure you are able to save the required amount to enjoy the ICC World Cup from the stands, investing in mutual funds’ equity schemes is among the best options. It allows you to mitigate the risk of direct equity investing while enabling you to profit from stock market exposure.
A large number of AMCs offer a wide variety of mutual fund schemes. This large choice may make it difficult for you to choose the right funds. You may compare the past performance of the various schemes to understand more about the potential returns. In addition, you must look at the investment portfolio before investing in mutual fund schemes. This enables you to assess whether the investment philosophy of a particular plan suits your personal needs or not.
Comparing, evaluating, and analyzing mutual funds is difficult and requires a certain level of financial expertise. You may take the assistance of a professional financial expert to help you identify the right funds. Alternatively, there are several investment tools that help you with goal planning through mutual funds. You may take help from these tools to make the right investment decisions.
ARQ, the proprietary investment engine from Angel Wealth is one such tool. As a key highlight of Angel Wealth’s mobile application,it uses quants and algorithms to evaluate and analyze over a billion data points. This research is matched with your personal goals, lifestyle, and risk appetite. Based on this entire procedure, ARQ gives you customized recommendations that most appropriately help you meet your financial objectives. The entire process is automated and free from human bias.
Download the Angel Wealth mobile app and start investing to enjoy the ICC World Cup from the stands and not your home.