What is investment?
Investment is often confused with savings. The new age social media based financial education has led to this. Many people have mixed investment with the concept of savings, and truth be told, these two financial terms are entirely different from one another. Savings refers to that part of our money that we keep aside for any emergency, accidental or purposeful future spendings. Whereas investment refers to the money we put into financial plans to grow our wealth reserves. These investments can be of various kinds. There are multiple financial investment options available in our country.
How can I start my financial investment journey?
To begin with building your investment portfolio, here are some types of investment that you can consider:
1.Mutual Funds Investment
Mutual Funds is a type of investment that sources money from a variety of investors, who have a common financial goal and it all goes into a mutual pool of funds. Here on, it is managed by the fund manager, who makes the decisions around where the funds from the pool are meant to be further invested in order to get the returns.
2. Direct Equity Investment
3. Fixed Deposit Investment
Fixed Deposit is the generic form of investment that most people begin with as it guarantees safe returns. Here, a particular amount of money is invested in a plan for a fixed amount of time, with a pre-decided return rate of interest.
These financial investments are easy to navigate through and understand. But if this is going to be your first time investing, then to begin your financial investment journey, you can choose to go through an online investment platform or get in touch with a professional financial planner or agent. We can help with this too! My Fund SIP is an online investment platform offering many options of investment like mutual fund investments, NFO’s and gold investments. Our team includes expert financial planners who will give you the right advice to help you progress on your financial investment journey.
How will this investment habit help shape my life?
Your financial planning will play a key role in influencing the way you approach life and look at the world around you. It will-
Make you better at decision making
When you choose to start investing, you need to look at the variety of investment options. Over a period of time, this allows you to become better as a decision maker. You turn into a quick-thinker and you can choose the right ways for yourself.
Make you a risk taker
Since financial investment, especially shares and stock involves a lot of uncertainties, you learn to embrace the challenges that come with it. The ups and downs of financial investment help you take bigger risks and build your resilience to rise from losses.
Make you future ready
You invest to build your wealth and secure your present as well as your future. Financial investment is therefore a boon to prepare you to take on whatever the future brings to you. It is a great attitude to have and it helps you in being better at facing life situations.
Financial investment can truly change lives in the right sense because it allows people to build the correct abilities to secure themselves through life’s uncertainties and make the most of what they have in the present.
If you are looking for an experienced financial planner to support you on your investment journey, then reach out to us at +91 6351564754 and email us at [email protected] and we will help you begin your financial investment journey.