After globalization, many people are keen are investing their hard-earned money. Till now many of the families are completely against investment and they have a different thought process than investing in unknown products like shares and mutual funds. In this article, we will discuss more on the Best investment areas where you can invest and grow your hard-earned money.
Though there are many investment options available in the following avenues are most preferable from the investor’s point of view, because of their growth.
- Share Market aka Stock Market
- Mutual Fund Investment
- Bitcoin / Cryptocurrency
Share Market aka Stock Market:
There is a myth in south India especially in Tamil Nadu, that investing in the stock market is gambling, I don’t know how this kind of perception was conceived in people’s minds, until 2015- 16 we had very limited people let’s say less than 1% of had invested in the stock market.
Now the trend started changing, even now when you compare with other cities like Mumbai, Bangalore, and Gujarat Tamilnadu will be very less in the count.
Every time I used to insist my friends and known people to start investing in stock markets. Many people did not understand the concept of stocks and hidden treasure.
I tell every time to my friends whoever bought Royal Enfield, instead of buying a Bike, if you invest in the company, at least your investment would grow, but the product that you purchased defiantly will have deprecations.
Stock Market investments are not rocket science, all you need to have is the interest to learn with the same patience to yield your growth.
To start your investments in the stock market you would need to have a Demat account and Trading account. Obliviously there will be annual maintenance to manage your account, which will be very minimal.
There are so many brokers in the market, they would give you excellent support and handhold till you reach a comfortable level. Every time you need to understand that investing in stocks is subject to market risk, make sure you understand the concept of the share market before you deep dive in.
Do not rely on tips and advice to invest in markets. It’s your hard-earned money, no one can manage it better than you.
It’s one of the greatest avenues to start with your investing journey. Many people have thought processes that I may not be able to spend some time to understand the market and that’s my kitty.
If you think so, you have a better product that’s a mutual fund.
Mutual funds are the vehicle of a pool of investment and a very small amount, let’s say Rs 500 / month or Rs 6000/- can be invested. When you understand the power of Mutual funds of course you will never go out of this avenue.
Though there are different varieties of products in Mutual funds, based on your risk-taking ability, goal, and investment horizon you can choose the better one.
Few mutual fund categories are best for income tax exemption and of course suitable for Retirement Planning.
There is an upcoming trend in virtual currency that you cannot see but can feel. Especially in western countries many of the digital entrepreneurs invested 60% of their assets in cryptos.
Though there are many wallets are offering an option to invest in cryptocurrency, many of the giants like Warren Buffet, Peter Lynch, and Indian Stock Market wizard Rakesh Jhunjhunwala are not showing interest in investing in Cryptocurrencies.
There is a huge bubble in the cryptocurrency market, so if you are interested to know more about Bitcoin / Crypto you can read here