Invest your surplus but provision for emergencies first

The benchmark Nifty 50 fell by a huge 40% from its peak in January 2020 by 23 March. It has recovered a little since then but equity investors have suffered a tremendous blow. The last time a correction of this magnitude took place in 2008, but many investors have no memory of that event and are mentally unprepared to stomach the present correction. The temptation to cut one’s losses and run is overwhelming. However, according to financial advisers, this is precisely what you should not be doing.

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