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Chandauli: Often we feel that to become rich, we have to work hard day and night, but the truth is that not just hard, but wisely, real wealth can be made only by putting money at work. When you invest a fixed portion of your salary, such as 30 percent, every month in the right way and right place, in a few years this investment starts giving you as much or more income as your salary.
Invest for a long time
Mutual fund expert Abhishek Singh said in a conversation with Local 18 that when we buy any item, it feels good for some time and its utility slowly decreases, while there is no age of investment. The longer the investment is made, the better the returns get, because it adds the strength of compounding.
Make investment habit
He further told that a person has an age to work, such as 50, 55 or 60 years. After this, other regular means of job or income are over, so if you have invested regularly in your working years, then you have a strong financial security even after retirement. This is possible only when you make investment a habit. Whether it is monthly, half or annual.
Invest thoughtfully
Abhishek Singh also warns that investing in hurry can be dangerous. Nowadays, the youth are investing money in the call-put options of the stock market without full understanding, where 90 percent of the 100 people are incurring losses. This is not an estimate, but the Indian market regulatory organization is SEBI figures, so it is better to make long-term investments than drowning money in haste.
Invests in economy
At the same time, he told that if you are afraid to put money in equity mutual funds, then you can choose hybrid funds, which are safe and also give good returns. Remember, when you invest in mutual funds, that fund invests in the country’s economy. As the economy grows, your money also increases.
Real beginning of becoming rich
Abhishek also believes that in our house, fear is created about investment and stock market since childhood. People feel that there is only risk in investment, but the truth is that the risk is in everything in everything in life. You can divide investment into two parts. One part in fixed deposit (FD) and the other in mutual funds. This keeps the balance and money also increases safely. So if you want money to make money from your money, then add investment habit now. Gradually, regularly and thoughtfully. This is the real beginning of becoming rich.
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