A degree student in India is unaware of most of the career oriented path but with an expertise certified social network millennial.
Friends discuss among themselves, “I can’t able to save single money because I don’t have enough.”
In other way round you are fooling yourself that you will save directly an amount of Rs 100,000 at a time. As per many certified financial planner, “People are advised to start investing from early stage with amount of Rs 500 on a regular basis.”
Most important question as per Google among millennial, “Where to invest and how to invest?”
We have many financial instruments to get better interest in terms of saving like bank recurring deposit, fixed deposit, Public Provident fund, post office, national pension scheme, etc.
We are here to talk about Mutual Fund, its benefits and power of compounding which is an untouched syllabus for students or person who got its first job.
As per SIP Calculator, a person invested Rs 500 in a mutual fund if received an annual return of 14%, a person will 1.3 lakhs in 10 years and 56.2 lakhs in 35 years.
Power of compounding result comes with patience and early investment.
Rules to follow to reach your goals:
- Amount should be invested regularly
- Power of starting early
- Discipline in a single investment