Every person wants to be a millionaire. But many of our habits prevent us from becoming millionaires. If you believe in saving and investing regularly then you can become a millionaire. Yes, during this time you have to get rid of four bad habits. Let us know what are these four things?
1. Getting caught in the greed for the best returns
It is a quote from the famous investment Warren Buffet – no one gives you anything for free. Always keep this line in your mind. The best return on a modest investment is a deception in which millions of people in the country lose their property every year due to greed. Hearing from one ear and remove from the other, the jule of earning lakhs of rupees by investing a few thousand rupees. Don’t fall into stock market trading tips, multilevel marketing and other such gimmicks.
2. Putting money in only one investment option
Do you know that a 25-year-old youth needs only 24 rupees a day or 700 rupees an month to become a millionaire when he retires. If you invest 700 rupees every month in an equity mutual fund through SIP, then after 35 years you will be able to raise more than one crore rupees.
The thing to keep in mind is not to put all your eggs in one basket. You put some of your investment in gold, some in stocks, some in real estate and some in options like PPF / NSC? NPS. The biggest advantage of this is that in the times of weakness of one sector, your other options will continue to give decent returns on your investment.
3. Not conducting regular reviews
You should review your investment once or twice a year. By reviewing your investment at a regular interval, you understand the good or bad of any one option. One advantage of this is that if one of your investment options is not giving the right returns, then you can change it, it will not hurt you much. Similarly, if you are not getting the desired returns from one of your equity mutual funds, then you can start investing in new funds.
4. Initiated to initiate investment
The sooner you start investing, the more easily you will become rich. For example, a 25-year-old youth needs to invest only Rs 700 a month to become a millionaire when he retires. If you delayed only 10 years to invest, then you will have to invest 3000 rupees a month to become a millionaire when you retire. When the minimum amount of investment in SIP has come to the level of 500 rupees a month, you do not have to wait. Invest in you as much ..