When the word invest comes to your mind, it kind of sounds really intimidating. But it’s not that tough as it seems to be. There are certain myths that every individual digs up in his mind which procrastinates or rather stops him from investing.
The first and the most common myth that people believe in is that it’s really hard to even start an investment because they believe investing is only for the elite. But the fact is, you can just start an account by creating it online, for example, your brokerage or retirement account. Just simple steps to register online and you’re done!
You need not be wholly dependent on your professionals or your asset management companies for the functional work of your investment. They definitely know how it works, but your knowledge cannot be just limited to that. Today, a lot of information of better and easy investing is available online through sites, blogs and articles.
You don’t need a lot of money to start investing. Nowadays you can even begin with a minimum amount of Rs.500 and allot them into your mutual fund account. So you need not be a Wall Street hotshot to start a good investment.
You do not need to have a particular type of investment necessarily in your portfolio. It’s a very common myth and all tend to believe that. Infact, having a combination or a range of investments with your money diversified well is a good way to get the maximum benefit and easy returns.
Gold is never ever the ‘always best option’. Though, it’s a good asset for investment but inflation rates are always on the rise and you may never know following this myth, you may end up losing more money when you could have saved all of it!
There are various misconceptions and lies about the right way of investing but to know the difference between myth and the reality is your ticket to a good investment plan.