Shubharambh: Build Wealth
Build Wealth today. There is no time better than now.
Who doesn’t want to build wealth over the years? It’s just that we don’t know where to start. It is fairly obvious that the best chance to grow wealth is when we are earning. But the process just seems so daunting – sparing some money after all the expenses, planning how much to save, doing paperwork, etc. As a result, we don’t start at all. Instead, we just focus on earning and assume money will take care of itself. Worse, we occasionally go on a guilt trip and buy some random product recommended by a distant cousin or banker – an endowment, a ULIP or a ‘child plan’.
A famous Chinese proverb says: ‘A journey of a thousand miles begins with a single step’.
Now, we’ve made that single step very easy to take. With no paperwork, it can be taken anywhere and anytime right on your mobile phone. You start a simple systematic investment or SIP on your mobile, with as little as 500 per month. Consider this: if you had started investing 500 per month in 2001 and continued for 15 years, you would have had 5.5 lakh by now. If you started just one year later, your wealth would be less by 1 lakh today! So it’s important to start early with whatever little you have, rather than wait for that perfect time and money to start.
So what are the hurdles to build wealth today? If you think about it, none!
- There is no paperwork to get started. Download the fisdom app, and click snaps of your PAN card and address proof – you are done. This completes the one-time registration the government wants you to do before you start investing.
- Not sure which product to choose? The app gives you simple recommendations, based on a wealth of research done at the back end. If you are interested in knowing more, you can read up about the funds in the app itself.
- Don’t know how to invest? The app also provides a secure payment gateway, where you can use net-banking to transfer money once. Thereafter, you sign an ECS mandate so that money gets transferred from your bank each month to the fund.
- Want to withdraw money at any time? Again, you just choose the amount and tap on the app. The fund gets withdrawn and money credited to your bank next day.
So, start today to make your money work for you, rather than watch your peers getting ahead and regret the delay later!