The concept of Powerplay, bringing most fielders inside the 30-yard circle, has made cricket the game we admire and die for. It has allowed batters around the world to explode and put a massive total for their teams. The freedom provided by Powerplay has often led to scores of 300+ in ODIs and 200+ in T20s. Cricket has come alive! Financially too, you’ll get the Powerplay to maximize. What’s more, it has a broader meaning in finance. You need to maximize for many years by choosing the right route. Let’s read about the Powerplay of Finance by which you can score BIG in real life.
Here’s the SECRET to Maximize Powerplay of Finance
Maximize it by investing for a long time in the right financial instruments. This will help you get a daunting total for enemies like inflation to tame it down. From this, it is only evident that you start investing at the earliest. Hanging yourself back from this must-do thing will only hamper your wealth creation exercise. Don’t take comfort from your high salary. Instead, save handsomely from that to invest in a medium that can help you earn BIG. Ultimately the earnings you post by the time you retire help decide your lifestyle afterward. There is the time you may not earn and can’t be sure of whether your kids will care for you. More Time, More Investments – The Secret to Financial Success.
Here are Your Powerplay Tools
These tools include stocks, equity mutual funds, unit-linked insurance plans, etc. Similar yet different in how these tools fare for you over time. The common thing about these is they all invest in stocks as they help achieve great numbers. Rest all you can know below as we explain each of them individually.
Let’s Talk About Stocks First
Converting a few thousand into millions has been made possible with the magical game of stock investments. All you need to do is choose the stocks that have done well for a long time. Also, check the market trends to find the ones which could do well going forward. The right mix of stocks at the right price is required to win stock investment challenges.
No Need to Panic if Stocks Chosen are Fundamentally Strong
Most refrain from buying stocks when they correct. That’s not the right strategy! If the fundamentals of the company whose stocks are falling remain good, there’s no need to worry. It may have happened because of the overall weak market sentiment. The fall during the early COVID times and the Russia-Ukraine war is one such instance. Due to strong fundamentals supported by high net profits, operational efficiency, such stocks are bound to go up and make serious gains for their investors. So, do check the financials of the companies whose stocks you intend to buy. For your convenience, you can do all that online.
How to Buy Stocks?
Buying stocks is easy as you can do so through a broker. These are the things you need to have –
- PAN Card
- Aadhaar Number
- A Demat Account
- Sign up with a SEBI-registered stock broker
- Trading Account Linked with your Bank Account
Equity Mutual Funds – Your Next Powerplay of Finance
As you could see, investing directly in stocks and making the most of it requires market intelligence of the highest order. Some of us may not have that yet we want high returns. You can thus trust the intelligence of fund managers that take stock of equity mutual funds. They do all the hard yards for you by choosing the right stocks based on their expertise and market trends. Carefully chosen stocks not only help you earn massively during good market times but also ensure the loss during the bad times remains minimum. Balance is all we need to thrive and survive! You can either invest one lump sum amount or do it regularly via a Systematic Investment Plan (SIP).
How to Buy Equity Mutual Funds?
You can buy equity mutual funds directly through asset management companies (AMCs) or via distributors. It’s up to you whether you choose to do so online or offline. You can buy these funds on the website of AMCs or distributors by filling in your personal details such as your name, address, PAN and Aadhaar Number, etc. In case you are not comfortable buying online, you can visit the branch of either of them with the required documents.
Unit-linked Insurance Plans Add Even More Balance
Similar to equity mutual funds, Unit-linked Insurance Plans (ULIPs) have certain functional differences. Let’s talk about the similarities first. ULIPs too have fund managers at their helm. You will have fund options of equity, debt and hybrid. As explained so far, equity funds invest your money in stocks for long-term capital appreciation. Debt options offer more safety but modest returns. Whereas hybrid funds do both – capital appreciation & safety. So, Powerplay here will be a pure equity fund and hybrid fund having more orientation towards equities. You’ll also get a cushion for your family in case you are not alive with the life insurance cover.
How to Buy ULIPs?
You can do so on the official website of insurance companies or their channel partners. Here also, you can visit the branch office for each of them to buy ULIPs. Documents authenticating your identity, address and income will be required. To get investment and insurance benefits from ULIPs, you need to pay the premium on the due date.
Think of Investing in Gold Too
Investing in gold can be a huge blessing for you more so when the stock market continues to fall. Market uncertainties often heighten the demand for gold whose prices then surge drastically. Gold prices per 10 gram went from INR 30,000 to around INR 50,000 within three months of COVID hitting India in March 2020.
How to Buy Gold?
Often people visit jewellery stores to buy gold and preserve that in their homes. However, Wishfin allows you to buy Digital Gold having the highest level of purity with NABL and BIS certifications. Click on steps to buy gold online & allow us to store this precious stuff of yours in our safe lockers. No security threats that remain the case when keeping gold at home. And if you want to sell your gold, you can do so online too.