What is the best financial decision to make at an early age?
Following is my opinion on the questions, Please comment with your thoughts.
A very good question asked. Most of the people struggle in finding out the best financial decision to make at an early age. I, was also one of the victims while deciding what to invest in during my early days of the ob. after gaining some experience and enhancing my knowledge about the financial market I came to know about mutual funds.
To be very precise to you question I would suggest to invest in mutual funds via Systematic investment plan this is also know as SIP in a mutual fund.
I would like to share one of my best image that depicts the benefits of investing on mutual funds through SIP by QuantumMF - they specializes in mutual funds investments.
From the above diagram you can easily make out the various benefits like the power of compounding, affordability, convenience, the power of time reduces risk and many other benefits that you get out of investing in a Systematic Investment Plan.
Finally to conclude and give you an example of how investment in Mutual funds via SIP is among-est all the best financial plan is because of its nature of Power of compounding. In layman terms, if I were to explain the power of compounding it would refers to the reinvestment of profits at the same rate of return to regularly grow the principal amount, year after year. This is a technique which makes your money work for you and is the most potent tool that an ordinary investor can use to plan for many of life’s financial goals, including retirement.
So Yes Please leverage investing in Mutual funds via SIP if you want to maximize your investment by investing at an early age.
Best wishes with your financial investment. Thanks.
Image Courtesy: QuantumMF
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