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9 Silly Reasons To Ignore And Start Investing

Jun 11, 2018 | 2 years ago | Read Time: 3 minutes | By iKnowledge Team

Investing your money is a great way of having an income. It can be on the side, as a secondary income or it can be your main occupation. Over the years, the number of people wanting to invest their money has decreased. This may be because of fear or the lack of knowledge about the market and investments in general. Or you may even refrain from investing because you think your savings will be enough.

Yes, investing money has its risks. But, due to numerous professionals and not to forget the internet available to help your investment planning, it has gotten easier. Even then, there are people who don’t want to start, and for silly reasons that can be resolved in a jiffy.

1. “I don’t know how to…”

Not knowing how to invest your money should not stop you. There is plenty of information available on the internet. If you don’t get your answers there, you can always go to a professional who can clear all your doubts. For starters, you can visit Aegon Life’s iKnowledge.

2. “I don’t have enough money…”

If you have just started earning on a new job, then investing may not be for you now. But, it is easy to start investing. Today, you can start with even Rs 500. You can purchase a single share or put it in a mutual fund.

3. “I trust technology over people”

Many people feel alienated by the practices of the trade market like complicated fee structures, and product pushing. This makes them turn a blind eye to the everyday non-wealthy people. Many people think that traditional investment firms are out to excel at a money minting business. Hence, they prefer to trust applications and the web rather than people.

4. “There are too many options…”

It is important for you to know which company or mutual fund is the best to invest in. But, with the investment sector on the rise, there are too many choices and this can be overwhelming for some people. But, this is not enough of a reason to not invest at all. Information about everything is readily available on the internet. And investments do not mean that you can invest in only one asset. You can diversify your portfolio for maximum returns.

5. “I don’t want to lose my savings…”

The fact that investments can be risky is undeniable. If you are not careful, you may end up losing money in a short period of time in the stock market. But, long term investments usually manage to recoup and you can watch your savings experience significant gains over a period. In the investment world, it is all about being patient.

6. “I don’t want to pay extra taxes…”

People think that since investments are a way of earning, they would have to pay extra income tax on it. This is not the case. Not every investment comes with tax burdens. It usually depends on what type of investment it is. For instance, life insurance is also a type of investment. The premiums you pay towards it are tax-free under Section 80 (D). You can use an income tax calculator to know how much tax you save and pay.

7. “I would rather splurge…”

If you have a lump sum amount on you, it is agreed that the natural instinct is to splurge. But it would be ideal to invest some of it, if not all, for the long term. Timely and planned investments will help you grow your money and consequently, reach your financial goals.

8. “I am too young to worry about the future…”

It is never too early to start thinking about your future. The earlier you start investing your money, the better off you will be, as the costs of your compounds increase with time. You start with a minimum amount and with time, you earn big!

9. “I am rich enough…”

You are rich now. You have a perfect job and a perfect home. That’s good. But, how stable is your job really? Do you know for sure that you would be able to support your lifestyle if your income takes a nosedive? Having a high income should mean that you invest some part of it regularly. It will keep you and your family secure in bad times.

All these barriers can be knocked down easily. All it takes is proper knowledge and the will to take some risks for good returns.

Advt. no.: IA/May 2018/4047


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