Be flexible with your financial plan, don't make big commitment

Starting the financial year 2020-21 amid a lockdown and threat of salary/job loss wasn’t part of the plan for most professionals. Worse still, within a span of a couple of months, your investments in equities would have eroded by at least 25-30 per cent, or even more, if you dabbled in high-risk mid-and small-cap stocks. Interest rates in the debt market are under severe pressure. So, fixed deposits or debt mutual funds are unlikely to give spectacular returns. And not just that, there is credit risk because of possible defaults by companies. 

Deepak Parekh gave this mantra to builders on Tuesday — compromise, compromise, compromise. Most working professionals may have to follow the same mantra. Clearly, these are unusual times.