Modern day Investing advice and tips for millenials

Millenials are often finding themselves in a loop of multi-tasking. They are often considered as the segment that believes in hardships but also is looking for ways to earn quick and fast money. When it comes to the stock market they often are looking for strategies or options where they can allocate their funds in the best possible way. Thanks to the internet, one can find and follow many trends to deepen their knowledge and thereby increase their financial literacy. Since every person’s journey is different, and so are their financial goals, here are a few pieces of advice that we feel every millennial should consider before investing.

Start small – Often people are under the impression that you need thousands of dollars to begin investing to get a profitable return. However that is not the case, on the contrary for every beginner we would advise you to begin with small amounts, understand the market and then increase your investment overtime. Allocating a fixed amount of money every month, and investing it, is a task itself for every millennial who is struggling in itself in order to survive. Hence we recommend to start small and observe your returns over a period of time.

The Market conditions are favourable for millennials – Since this is the age group of young people one can say that the time is on the side of millennials because their money has the power to grow and compound overtime. Beginning to invest in a younger age has two advantages : a) You can learn from your mistakes and implement your learning in the future. b) You have saved enough by the time you decide to take retirement. Also you don’t need to be a pro to begin investing you can always take help of apps such as ETMONEY and study about Direct mutual funds, Equity mutual funds etc before you begin investing.

Invest for the Long Run – Due to the miracle of compound interest, whatever regular investments you make, act as a fuel to your retirement plan. Mutual funds can be one of the best options for long term investors as they provide stable returns , ample liquidity and are generally of low costs. If you invest in mutual funds regularly with the help of SIP  you can mitigate the risks involved along with profitable returns. All you need to do is simply download the Investica app,and you can start investing in mutual funds or even trade/deal in stocks online.

Invest in Mutual Funds – Mutual funds can be considered as the best way to begin investing. They provide stable returns plus give you a diversified portfolio, not to mention you can begin with as low as 5,000 Rs. Also due to the tech savvy world we live in, we can have access to several apps such as FundsIndia to help us begin. It is one of the free mutual fund investment platforms with options such as flexible SIPs and comprehensive advisory services.