Journey of an investor.
People often get confused when it comes to understanding the stock market and investing, and consider it as a gambling market. But little do they know that the stock market, if understood & used correctly, can do wonders with your money! Here's a clear guide to help you find the perfect path to begin your investing journey, so that you can make the most out of the market.
Let's start by answering these simple questions:
Who should drink water? Who should eat food? Who should exercise?
That's right. Everyone.
Just like drinking water, eating food & staying fit are life's basic necessities, earning & growing money is also equally important. Everyone wants to increase their net worth, and wants to provide their family with a good life. And simply living from paycheck to paycheck is hardly going to suffice that. Hence, not investing is not an option.
Just like you have to drink water to live, you have to invest to grow your money. Irrespective of your age and monthly income, the right investing will always bear full results and fruitful returns. So yes, anyone & everyone should invest.
The sooner you start the better it is.
Going back to what we started with, there is no right time to start drinking water, or eating food or exercise. You just do it whenever you feel thirsty, hungry or lazy. Similarly, there is no right time to start investing. Anyone can start investing at any age they want. The only thing that will differ will be the type of investment and its allocation, based on your income, savings and spendings and of course, your financial goals. A 12 year old will have different financial goals and risk taking capacity as compared to a 42 year old. So, your age will impact your investing style and not the when of when you should start investing.
Okay, I'm convinced but.. I don't know 🤔
After getting your monthly salary, do you just randomly give all your money to anyone?
No! You've worked hard for that money and it's yours! Then why invest your money in the market based on someone else's advice or tip? It's like you're giving your hard earned money to a stranger to use it for something you don't even understand! So, the first and foremost step to start investing is to learn its basic concepts so that you can understand how the market works and make well-informed decisions. But, the lengthy & boring financial courses that are available in the market make this process dull. Here's where Quest by Finology comes to your rescue! Learn investing & finance on the go with Quest's action-packed, practical courses which are adjustable to your attention span.
Now I know the financial concepts.. But 🤨
Does simply knowing how a plane flies make you a pilot?
Of course not! Then how can you expect this with investing? Investing requires practice, so the next step after learning concepts is to align what you've learnt with the real world. Before actually investing, witness the market in action and analyse a few stocks with the right information & data. Unfortunately, that's what's missing from today's equity research tools, where the data is often inaccurate. Ticker by Finolgy is specially designed to solve this problem by providing a vast data bank of all the listed companies. The best part? Ticker is completely technology-backed so that you can make accurate analyses and choose only the best stocks.
Now that I've practised, am I ready to begin investing? Then.. 🤩
Umm, not yet. Knowing how the market works is still not enough to begin investing.
You still don't know how much risk you can take, and how much money you should allocate in stocks, bonds or mutual funds. For this, you will need the perfect financial plan for yourself. But modern-day financial advisors deliver you biased & generalised investment plans for insanely high charges. Recipe by Finology brings an end to this by introducing a DIY platform, that gives you the power to manage your money according to your goals. It enables you to create the perfect financial plan for yourself by first assessing your current financial position and then suggesting the best plans of action to meet your personal financial goals, so that you can plan on growing your wealth, instead of just your income.
I think I'm ready now but… 😯
You'd now need a demat account to start investing.
More importantly, you'd need the right stockbroker. But, there are hundreds of stockbrokers in the market, each with their own brokerage charges, maintenance charges, account opening charges, hidden charges and what not! So, how do you find an affordable, cost-efficient stockbroker? Here's where Select by Finology can help you. A brokerage comparison platform enlisted with the best stockbrokers, Select helps you compare them side by side so that you can select the one which is best for you. But that's not all. Select also rewards you for opening your Demat account and provides you with the best offers so that you can start your investing journey on a positive note.
While you invest, you also spend. Rewardify your spending game with best credit cards, powered by Select's upltimate card comparison funnel.
Great! I've opened my demat account & I think I can begin. But 🥴
Even after investors start investing, they have a hard time keeping up with the market trends, company actions, and managerial changes.
Of course, you'd say that we have business news channels, blogs and magazines for that, but let's be honest; how many of you would actually read them without getting bored and confused? Exactly! Insider brings you uncensored information, real thoughts and real opinions. This means that learning finance won't be a boring journey full of technical jargon but a fun ride filled with excitement.
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