Harshvardhan Roongta, CEO, Certified Financial Planner, Roongta Securities offers advice and answers questions regarding Mutual Fund on the Zee Business television show “Money Guru” . The show was telecast on 09 August, 2022.

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Investment Tips for Millennials

Millennials are the generation born between 1981 and 1996, and are the most educated and tech-savvy generation in history. With the rapid changes in technology, the global economy and the job market, millennials have to be more conscious about their investments. Here are some tips to help millennials make the most of their investments.

1. Start Early: The biggest advantage of starting early is that you have more time to benefit from compounding. Compounding means that the returns from your investments are reinvested, and you earn returns on your returns. This means that the longer you stay invested, the more your money grows.

2. Don’t Take Too Much Risk: Millennials often feel the need to take on more risk in order to get higher returns. However, this is not always the best strategy. It is important to remember that higher risk investments can also lead to higher losses. Therefore, it is important to assess your risk tolerance and invest accordingly.

3. Diversify Your Investments: Diversification is one of the most important rules of investing. It is important to spread your investments across different asset classes such as stocks, bonds, mutual funds, ETFs, and real estate. This helps reduce the risk of your investments and ensures that you are not overly exposed to any one asset class.

4. Automate Your Investments: Automating your investments is a great way to ensure that you stay disciplined with your investments. You can set up automatic transfers from your bank account to your investment account on a regular basis. This helps you to save regularly without having to think about it.

5. Invest in What You Understand: It is important to invest in assets that you understand. Don’t get swayed by the latest fad or the latest hot stock. Do your own research and invest in assets that you understand and are comfortable with.

6. Invest for the Long Term: Investing for the long term is one of the best ways to ensure that you make the most of your investments. Long-term investments are less volatile and give you the opportunity to benefit from compounding.

By following these tips, millennials can make the most of their investments. It is important to remember that investing is a long-term process and that it takes time to reap the rewards. With patience and discipline, millennials can make the most of their investments.