Who doesn’t want to get rich? However, rarely do people equip themselves with the right mindset. What does it take to be rich?
Planning
Unless you know why you want to invest, how can you make a wise investment decision? Creating wealth is not by chance but rather by having the right attitude and plan.
Do not time the market
There is more time spent by investors thinking about the right time to invest than anything else. In the recent past, we have seen the market crash due to the pandemic and then bounce back. So many people may still be waiting for the right time. One trick to handle this is to invest a small portion of money every month and stay put (SIPs).
Long-term horizon
Do not invest for a short period, you can be lucky once or twice but not always. The long-term horizon will force you to focus on the process than the result.
Start small
Do not think to invest a large portion of your wealth in one go, start small. This way you will be able to weather the storm of market fluctuations.
Disclaimers
Investment in securities market are subject to market risks. Read all the related documents carefully before investing.
The securities quoted are for illustration only and are not recommendatory.
Registration granted by SEBI, membership of BASL (in case of IAs) and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.
Details of the advisor
Advisor: Ankur Kapur
SEBI RIA No.: INA100001406
BASL Member ID: BASL1337