Avaneesh Parasar Explains How to Make A Smart Investment With A Small Amount

 One of the most common myths around investing money is that you require a big fat bank account to even get started. However, in reality, the process of building a solid portfolio can be done with just a few thousand rupees. Avaneesh Parasar says that with a few smart moves you can invest even a small amount of money and get good returns out of it. All you need are some smart moves and a small amount to give a kickstart to your investment program.

What are the four smart strategies to start?

It does not matter whether you plan on investing a little amount or a big one, in a high-risk gamble or in a safe bet, mentioned below are certain certified steps by Avaneesh Parasar that will help you get your plans right on track.

  • Deal with your debts: One of the first steps that you must keep in mind that you must analyze what it will cost you to carry any debts that you have and must also consider how rapidly you can discharge those debts. In a case where you are carrying a high-interest debt then it makes the maximum amount of sense to pay off some of it before you make an investment.
  • Automate your savings: If you have the diligence to set aside a certain amount of money in your savings every month then it will help in reaping rewards in the long run for you. According to Avaneesh Parasar, you can take the help of technology such as computer applications or smartphones for the same. You must automate your savings so that you can indulge in the benefits you get due to them at a later stage.
  • You must consider your retirement: A tried and tested goal of saving even at an early stage is to ensure that you have a sufficient amount of money even if you stop working. It is important to keep in mind that when you let your money grow for years, you will get much more than what you contributed — therefore all those tax-free withdrawals will be worth it. You must also consider setting aside a part of your tax refund which is a means of getting started with investing.

Investing in ETF’s

Another option for investing with a small amount is an exchange-traded fund which is also known as ETF. This follows a passive management feature which translates to lower ongoing costs. However, Avaneesh Parasar says that you have to pay the transaction fees.

You must keep in mind that investing can sometimes get complicated but you should know that the basics of it are simple. The purpose of this blog was to educate you that you can begin investment even with a small amount, all you have to do is make smart choices. The only thing which seems difficult is that you never know where to start but the sooner you do the more you are likely to make.

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