Best Investment Tips for Young People and For Beginners
Investment should ideally begin at an early stage when there are no
responsibilities and one can easily
divert funds for saving, advices
Sachin Karpe.
For a beginner, three basic steps to
saving money are
� Plan to be secure
� Plan to be comfortable
� Plan to be rich
It may take a while to understand
this but it can be very empowering.
Bear in mind that no investment can
give you an overnight return.
Therefore, firstly get rid of all the
debts like credit cards, educational
loans etc. Then begin to save to feel
secure so that no emergency can harm you and you remain monetarily strong.
Best time to begin investing money is right when you start to earn. As the author
informed you about three main steps to saving money, now lets us have a look at
each one of them one by one.
Plan to be secure: It is your onus to secure your life. This can be done by buying a
term life insurance policy, so you are buffered of any life-risking danger. Save
enough money, at least 3 months’ contingency fund for any kind of emergency.
This will help you feel confident about the next step. Once the securing pat is
done, it is time to gear up for comfortable planning.
Once you have attained security of your investment, you are in a comfortable
position to move ahead. Comfortable here would mean, staying comfortable
without worrying much about having less money. A house of your own, a proper
retirement plan, child education planning, health and medical planning are
investments that will make you comfortable.
These goals can be achieved by investments in life insurances, mutual funds, SIPs,
infrastructure bonds etc that help reduce your tax burden under Income Tax Act
1961 section 80cc, this author tells us while educating on tax rebates. With these
investments you can lead a comfortable and a content life. But to lead an
abundant life, stay tunes to this space.
Most people usually stop at comfort and never aspire to achieve more. They must
be faced with some apprehensions that stop them from moving ahead. To
become rich, and not just comfortable, you need to think beyond an average
investor. It is not merely about investing money but about investor who knows
the market in and out and does not fear losing money because an average
investor or a stock broker does not lose money but does not make much either.
It requires a lot of panache to study the market and make an appropriate
investment, just like Warren Buffet. Such investments are mostly calculative.
Sachin Karpe has always advocated the fact that if you have excessive cash,
education and experience in investments, nothing can hold you back from getting
rich.
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