A Success Mantra for Women on International Women’s Day!
‘Covering the Distance from the Living Rooms to the Board Rooms of MNCs.’
Why do we celebrate International Women’s Day? Among many reasons, the one that strikes the most to our mind is ‘inequality’, which used to be a bitter reality is rooted out to a great extent. Today, women are being treated equally as men in every field and aspect that has only been possible because of the struggle they did in the past decades. This is evident as they have come together in fields and factories, became business divas, Mary Kom of the sports field and Madhuri Dixit of the entertainment ground. They have managed to cover the distance from living rooms of homes to the boardrooms of MNCs. They have excelled in managing both, the personal and the professional responsibilities by playing every role with perfection, be it of a housewife or a businesswoman. In order to top both the fields, planning of their own finances and life goals fall short on their list of priorities.
Still, there are women in several parts of the world who are underprivileged and living their lives as a house maker. Because of improper education and no access to advance technology, they are unable to take a stand on their own and grow into a self-dependent person. As per the past records, a large percentage of working women depend on the male members of their family for taking the investment decisions for them, and some women get aware of the investment decisions after they have been taken for them. Irrespective of the situation, women have always been considered as a financial head for the family because of their natural and prominent ability to save money. Just like the way, we have fund managers in mutual funds to manage the money invested; women are the money managers of their house. Being so talented in ‘managing expenses and saving money’, they never get themselves acquainted with the investment world. When we women, selflessly work so hard then why not secure the future by staying financially independent. Be it our own retirement or be it child’s higher education in abroad or be it planning of a long vacation, we need to do more beyond just saving money. Now, the puzzle is how to build the corpus to accomplish all those goals stated above? To do so, we need to break the old shackles of using the contemporary methods of savings such as fixed deposits, insurance, or investment in gold. Because gold has become old now and we need to step to another level of investing by tasting the flavor of mutual funds. Mutual fund is the ladder that will not only help you reach your desired goals for self and family, but also, let you live an independent life.
All those women who really want to change the way of thinking should come out of the shells, and take some risks. Here are some quick tips to assist you before you invest in mutual funds:
- Get Yourself Familiar with the Investing Basics:
If you are less confident and a rookie at this game, you must learn the rules first. Because having knowledge about something in which we are new at, brings confidence and positivity about the same. Before starting any investment, you must consult a financial advisor about the funds in order to replace your fear with self-assurance. - Do the Goal Planning:
The first and foremost rule of investment is to focus on ‘planning your goal’. You must have a goal set before making an investment in mutual funds. Your aim for investment can be your own retirement planning, your child’s education or marriage or it can be as generous as wealth creation for the family to meet any future emergencies. So, categorize your plans according to their time period of investment like short-term goals and long-term goals. Planning is the most important move required to be made as ‘failing to plan is planning to fail’. If you don’t want to see your future fall because of a failed plan, act wisely now. - Take into Account the Risk Factor:
First, calculate and decide the level of risk you are capable of tolerating and then call the tune. Nothing comes easy; you must be ready to take risks in order to receive gains. There are classifications of funds according to the risk factors, for example, those women who want to play safe and take low risk can invest in debt funds and the ones ready to embrace high risks can obviously pick equity schemes. - Choose Your Own Way:
No matter how much money you have for investment, mutual funds have always got options for you-lump sum and SIP. If you’re deliberative about investing in one shot, you can opt for lump sum mode of investment, and if you are one among the disciplined investors, then Systematic Investment Plan is the best choice for you. - Last But Not Least- Start Investing Today:
This is the biggest aspect which plays an important role. This works on the simple formula- ‘the sooner you invest, the more you will get’. Another thing that should be kept in mind parallel to this is you should not involve emotions while investing. Market’s ups and downs are temporary and will go on, but if you stay invested for a longer horizon, the ball will always stay in your court. As investments made for attaining long-term goals help you reduce risk and generate satisfying returns on the same.
So, ladies get on the driver’s seat and tie up your seat belt because the best route that will lead you towards your goals is mutual fund. For a woman, financial planning is not just about securing her own future by earning money, but it is also about securing the future of her family simultaneously managing things. Regardless of how fast the world is changing, we must educate our girls to start investing early and let them know about the opportunities that investment in mutual funds brings with it. Invest in women and encourage them for investing in mutual funds so as to build a brighter future for not only them but also for whole society. Happy Women’s Day!
So, if you are a woman looking for investing in mutual funds and need a helping hand, you can always connect with MySIPonline. We would do our best to assist you throughout the process of making an investment. And, you can shoot any query regarding mutual funds or your investments anytime you feel confused.