Why is Investing important?
Maitry Shah
Driving Digital Transformation & MFD Growth at Prudent Corporate Advisory | Women's Financial Literacy | CSR - LakshMe
Why is Investing important?
Savings kept idle in the cupboard or in your wallet in the form of cash will earn nothing as inflation will eat all your savings. If you invest the same amount, you will earn interest on it and eventually grow your money. Investing is how you take charge of your finances.
“If you don’t find a way to make money while you sleep, you will work until you die” - Warren Buffett
Want to go for a girl’s trip to Europe but can’t because of monetary restrictions -?Invest to fulfill your goal
Planning a trip begins when you start investing in that trip. Each financial goal like buying a new car, buying a new house, world tour, starting your own business, etc needs a separate investment. A concrete investment plan can help you stay on track and achieve your goals.?
Worried about how high will the prices of goods go??- Invest to beat Inflation
As said earlier savings kept idle in the form of cash will not earn anything. Inflation will eat away all your savings. The interest earned from the investment will help you to beat inflation. For example, you were able to buy 1 kg of apple at Rs 100 in 2019, but today the same 1 kg of apple is worth Rs. 120. The difference in Rs 20 will be adjusted with the interest earned by your investment from 2019 till today.?
领英推荐
Retirement is to enjoy life and not worry about money -?Invest to Enjoy Retirement
Retirement is the stage where you have no or less income without any changes in your lifestyle. Investing for retirement is one of the main benefits of investing, you can enjoy your life with the same standard of living without worrying about anything.?
Ever cried by looking at your tax amount? -?Invest for the Tax Benefit
Investing also helps in savings taxes. You may be paying more taxes than required if you are not investing in tax-saving instruments. There are many tax-saving instruments like ELSS Mutual Fund, PPF, etc which can generate returns and also help in saving taxes.?
Who does not want to become wealthy? -?Invest for Wealth Creation
Investing helps your money grow. Disciplinary ways of investing result in wealth creation over a longer period of time. Long-term wealth creation requires proper planning and discipline in investing.?
There is a misconception around investing that you have to be an expert in the industry to invest when the reality is that there are so many resources and platforms like LakshMe that make your entire journey smooth and simple. You will gradually learn a lot and will develop a financial approach towards investments and other aspects of life. But the first step is to start. No matter the amount but starting is a very important thing.?
"A Penny Saved is a Penny Earned"?- Benjamin Franklin