The Youth Invests!
With the increasing population in India, people below 40s are increasing even rapidly. Along with the development that our country is seeing, people of all ages are getting aware of happenings around them. The young crowd is surprisingly curious about how the world works and thus directly taking a keen interest in the financial world. As the quality of life increases for the people of India, the youth in the country plan on saving a significant amount of portion of their earnings.
Unlike the pre-millennial era, youth these days look forward to saving and plan on growing the money. According to a recent article by The Economic Times, the survey conducted by Innovative Research Services(India) for Tata Capitals, 39% of young adults who fall under the range of 18-25 years, save about a quarter of their income. They save money and plan on growing their money through bank deposits, investments, mutual funds, etc. Unfortunately, people who start their investments without planning often end up facing financial losses. As growing money seems important in today’s world, guidance and planning remain of utmost importance.
Imperial Money Private Limited is a rapidly growing organization that provides personalized financial and wealth creation services. The organization provides services like mutual funds, insurance, tax savings, equity planning, etc. From the early investment point of view, the young earners mostly go with mutual funds and SIPs. But what do they need to know?
Why Mutual funds and what is SIP?
Investing in mutual funds gives two main benefits – it gives higher returns of 10% to 15% as compared to bank deposits/FDs which give around 6% to 7%. The other advantage is that you can buy just one fund and access diversified stocks and bonds instead of traditionally buying individual stocks and securities.
The most popular way of investing in Mutual Funds is through Systematic investment planning or SIPs. SIPs help inculcate financial discipline and build steady wealth for the future. Investing in SIPs takes not more than just an affordable and fixed amount of money in a particular mutual fund for a fixed period.
How and where to invest in SIPs?
Before starting to invest in SIPs, you need to check for the returns. One way to do it is using the SIP calculator, also called the SIP returns calculator. You can select the amount which you want to invest at a fixed time intervals, select the mutual fund and the period. The calculator will give out the possible returns of your investment. For the selection of mutual funds, it is advised to take verified guidance from a mutual fund planner.
Why should youth invest in SIPs?
Youth should look forward to investing in SIPs mainly for two reasons. The first – as young adults are in the initial stage of their earning career and have lesser to save and invest as compared to financially settled people, SIPs give them flexible options to invest. Second – it helps them build a discipline for a steady investment from a young age. Also, people who want to or can afford to invest a lump sum amount can take the help of a SIP lump sum calculator which gives possible returns on your investment.
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