Get Wealthy With Smart Investments
For some, wealth is handed to them. But for many others, it’s a case of using your earnings to grow wealth over time. And the best way to do it is by investing smartly. Here’s how.
Create Your Vision Board
What do you want from your money? Is it a home, car, exotic holiday or a college fund for your kids? Identify what your financial goals are to get started.
Allocate Your Budget
You know what your recurring monthly expenses are - apart from that, aim to set aside 20-30% of your take-home salary for savings.
Identify The Right Investment Vehicles
There are many ways to invest. The stock market, Public Provident Fund, National Savings Scheme, gold bonds, bank fixed deposits and more.
Align Your Investment
Stocks are long term growth investments, but come with certain risk factors. Bank FDs are safe but offer much lower returns by way of interest. Choose the instrument that suits your goals and risk appetite.
Diversifying your investment portfolio with a mix of asset classes ensures a more balanced investment plan that can weather market dips and downturns.
Try Mutual Funds
If you are wary of the stock market, opt for MFs. Money is collected from a group of investors and managed by a fund manager who does thorough research so you get good growth.
MFs are for everyone, whatever stage they’re at. You can start with a small amount of Rs.1000 per month and work up. Choose a fund, aligned with your goals.
At Scripbox, we have multiple mutual funds to choose from, based on your budget and financial goals.
Mutual Fund investments are subject to market risks, read all scheme related documents carefully.