Financial freedom is what all thrive to gain. That’s all we have dreamt of since we were kids. We may want to go into different professions but the ultimate goal has always been to be financially independent. We all work hard to achieve what we have dreamt of, but when we start earning the problem we face is we don’t know how to manage and invest our money. That is where financial knowledge, especially investing knowledge matters.
We all should know where to invest our money and how to get a good return on investments. In today’s fast-paced world, achieving financial freedom has become a top priority for many individuals. It entails gaining the ability to make informed financial decisions, generate passive income, and secure a prosperous future. While there are various avenues to pursue financial freedom, one that stands out is stock market investing.
In India, the government is trying its best to bridge the financial literacy gap. The core of the problem here is that people don’t know how to manage their money. Even in contemporary times, numerous individuals continue to view stock market investments as inherently risky, believing that it requires the assistance of a broker. Additionally, some still rely on traditional savings methods, such as keeping money in bank accounts or lockers. These misconceptions are major contributors to financial struggles.Market opportunities:
The stock market is full of opportunities if you have learned risk management from experts. People should know that investing their money in the stock market would increase its value over time if done with the right knowledge and guidance. The stock market gives you the opportunity to grow your money with time, which your locker or bank account is unable to do. With the rising inflation, the value of money keeps decreasing. But, if you invest your money in the stock market wisely then your money keeps growing with the stock prices.
After 75 years of independence, many people in India are still trapped in old and traditional forms of saving money. Seeing the development of the world, it is necessary to step up and take investment and saving strategies to the next level. Currently, India aims to be a $5 trillion economy by the next decade. Various developments have been undergoing in India to achieve this target. Startups are being funded, educational institutions are being established, and job opportunities are being created. However, the financial knowledge of the population lags behind these developments.
To be fully independent, people need to emphasize learning about the stock market and types of investing that can make their money work for them. There is nothing wrong with saving money in a bank account or in traditional forms, but investing it at a place in the stock market can be way more beneficial. You should try investing by taking the help of experts in the industry. Investing in the stock market with experts paves a good path for long-term financial planning. Investing a bit every month from your twenties can make up a good amount in the coming 10-15 years. Long-term financial planning can be done by investing in growth stocks, trading technical analysis involving tried and tested theories or simply investing in mutual funds.
As the global economic landscape continually evolves and develops, having foundational knowledge of the stock market is vital. It enables individuals to stay informed about market trends and seize opportunities to generate wealth from any corner of the world, provided they have expert guidance and robust risk management strategies in place.(The writer, Sooraj Singh Gurjar, is the founder and managing director of Get Together Finance (GTF))
