“Do not take yearly results too seriously. Instead, focus on four or five-year averages.”
We worry about the investment the way we worry about our weight. Instead of dieting or investing being a habit, we only think of them as remedial measures when our weight or our bank balance goes too high or too low
Regarding the Indian Banking System:
India is in the middle of a digital transformation. Today you can open a bank account in less than a minute, with e-KYC (electronic KYC). Today, that’s a total of three minutes, versus three trips to the bank earlier. You need an OTP (One Time Password) instead of three sets of addresses and Id proofs, along with some thirty signatures.
Moreover, you can access all of these bank accounts from one app using UPI (Unified Payment Interface). No need to worry about updating your passbooks every month. The app you choose doesn’t even have to be your own bank’s app, you can choose the one that suits you the best.
Connecting With Mutual Funds:
Mutual funds, once thought to be the investment instrument of the elite only, are now available, starting in sachets less than Rs. 500 a month! You can start investing in a completely paperless, presence-less and cashless manner. You accumulate your cash, and then some sharpshooter comes along and offers this fantastic deal and gets your money. The core principle behind investing is to choose the right Mutual Fund that is based on your investment appetite and financial goal. Having made the right decision, you can be assured that your investments are safe, will fetch you the right returns and definitely better returns than Fixed Deposits.
How to Invest in Mutual Funds?
You can invest in a mutual fund, where you can increase cash or value from three sources:
The increase in share prices
When a fund sells a security that has gone up in price, that is a capital gain. And when a fund sells a security that has gone down in price, that is a capital loss.
2. Income earned:
Wherein an individual can earn from dividends on stocks and interest on bonds. A mutual fund pays all of the net income (in the form of distribution).
3. The increase in share prices:
This eventually happens when there is an increase in the price of the share. One can sell the fund and can earn a profit.
To get access to top recommended mutual funds, MyWay Wealth is a one-stop destination. Where you can invest your funds and can secure your future. MyWay Wealth offers you direct plans for investment. Equity where you can create long-term wealth creation, Debt is where one who is looking for short term investment, and Hybrid is where you can invest your funds in equity and debt. You need is a few minutes to complete your KYC process and put in your monthly contribution.
Think about investment. Think MyWay Wealth.