Your life savings are infl uenced by your ability to strike a balance between spending and investing. If you learn that skill at an early age, you may end up creating wealth for yourself and your family.
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How to become a crorepati with ELSS
Published On , 8 Jan 2019 By TT Connect
To witness the bright sun, you arrive at the beach well before time. Then why delay investing if you want to witness a bright financial future? Start investing in Equity linked Savings Scheme (ELSS) right from a young age to become a crorepati in your 40s and 50s.
It is designed to help you save Tax and get capital appreciation over the long-term.
Equity markets are fraught with short-term volatility. However, with youth on your side, you got a chance stay invested for a long term.
Long-term investment in Equities over 15-20 years is proved to provide a superior return over any other financial instrument.
DID I READ SAVE TAX?
Yes! With ELSS, you can not only become a crorepati, but also save Tax on investments up to Rs.1.5 lakh annually. Mutual Funds also allow you to spread your investments through out the year. This can be done through Systematic Investment Plans (SIPs). Hence, instead of making a lumpsum investment of Rs.1.5 lakh in ELSS, you can invest Rs.12,500 every month through SIPs.
The later you invest, the higher would be the SIP amount to catch up! Make the most of your youth and invest today to become a crorepati with ease.
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