Women’s Day, March 8, is not just a date but a powerful occasion to spread awareness about women’s empowerment and their rights. Today, it is very important to understand that economic independence is a big step towards making women self-reliant. By adopting the right investment strategy, women can easily achieve their financial goals. Let’s know how.
When should the new generation start investing?
“The sooner the investment starts, the better!” says Lakshmi Iyer of Kotak Alternate Asset Managers. To take full advantage of compounding, it is important to do financial planning from childhood. It is better to start now than to start late.
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Strategies for women in the age group of 20-30 years
At this age, as soon as you start earning, get into the habit of investing before spending. Adopt reverse planning for big plans like buying a house, marriage, travel. SIP, investments in stocks and mutual funds can be better options. This is the time to take risks and secure the future.
Investment strategy for women aged 30-40
At this age, set short-term, medium-term and long-term goals. It is essential to create a diversified portfolio across large cap, mid cap, small cap, flexi cap funds. Investing in real estate is also a good option. This is the time to balance your investments and plan for future expenses.
Financial planning after 40 years
At this age, the focus should be on creating an emergency fund, reducing debt and retirement planning. Investments should gradually shift towards debt funds and safe investment options. This is the time to reduce your financial burden and prepare for retirement.
Stock market investment for women
Women should make it a habit to understand the balance sheet before investing in stocks. If there is not enough time, then one should seek the help of a financial advisor. Investing in the right information will be beneficial for you.
The right use of household savings
Women can invest the savings made at home in post office schemes, gold, and mutual funds. Gold should be limited to 10-15% and the rest should be invested in financial assets. By adopting the right strategy, women can achieve financial independence and make their dreams come true.