Prosperity looks different to different people, and different in different eras. For people who came of age in the 80s, prosperity looked very different for those who came of age in the early aughts. Liberalization in 1991 changed the way we Indians saw ourselves. Gone were the caps on production, gone were the interminable queues, gone was the artificial scarcity that created a feeling of 'lack'. Indians could now dream, unfettered.
In the three decades since, India has only grown from strength to strength. Our employment numbers are up, as is our GDP, as are our exports, as is our booming startup ecosystem. We're all working hard, making bank, and spending on the experiences and things that we're passionate about.
Of course, that experience isn't universal, and especially so when we first start out in our careers. For the average young professional, dreams outrun incomes by a huge margin. We want the foreign trip to Thailand, and we want the latest iPhone, and the wardrobe to go with it. And often, we want these things, all at once. The pocket isn't deep enough. Not yet, anyway.
So while the salary will increase, promotions will happen, businesses will grow, these are things we don't have direct control, or even influence over. What we do have direct control of, is how we generate passive income and grow our savings. For most young professionals, passive income, income generation through investments, creating an investment corpus, all feel like accomplishments that lie in the future - when they make 'enough' money. As the saying goes, tomorrow never comes.
The key lies in flipping the script. Passive income, investment income, and an enviable investment corpus are created - bit by bit. And especially, when investments are made with a goal in mind. For instance, if you want that latest iPhone AND click your photos at that Thailand trip, AND wear the latest Jordans while taking your selfies - then you’d better get cracking sooner - with a goal-based strategy. As all investment advice indicates, the biggest factor in wealth creation through investments is time. The earlier we start, the more we earn. Even if the initial investment is a very, very small one.
With 7.2% GDP growth in FY23 and 6.5% estimated for FY24, India is an outlier in its economic resilience, in a world of uncertain and stumbling economic growth. India's GDP is expected to hit $35 trillion by 2047, making this a golden time to invest in our economy. Which is why it isn't surprising that the trade volume on NSE is so high that it accounts for 45% of all trades in the world on several days! Moreover, people are registering to invest in record numbers. Recent data reveals that a staggering 83% of new investors who have registered in the past three years are under the age of 40, constituting nearly 60% of all market participants.
Regulatory policies are also conducive for investing. Over the years, SEBI has made retail investments both safer and more convenient for investors. From easy onboarding and online KYC to investor education to encouraging SIPs and STPs and to complaint redressal through SEBI SCORES, SEBI has created greater ease and confidence in the entire investor journey.
There has never been a better time to invest in our economy than now. And with Diwali just around the corner, there is an added incentive to start our investment journeys during the most auspicious time of the year, with the blessings of the Goddess of wealth herself!
Even if you're a novice investor, there are plenty of options to start with. ICICIdirect, for instance, always has research-recommended stocks and baskets for you to choose from. If you'd feel safer investing through an SIP, there are a variety of ways to do so through ICICIdirect, and enough and more options to help diversify your portfolio across industries, and mutual fund products. As you gain exposure, experience and confidence, a world of other investment vehicles and asset classes open up: ETFs, commodities, bonds, debt instruments, derivatives, and more involved mutual fund products, in addition to pure stocks.
With ICICIdirect , it is easy to keep an eye on your entire portfolio as it grows and develops, as it resides in one place. Also, between Investonomics, iLearn, and the many, many investor education programs that ICICIdirect undertakes, investing goes from being something that you're daunted by, to something you take pleasure in. Who doesn't like watching their wealth grow, right?
The ICICIdirect app lets you do it all from the comfort and convenience of your phone, so you never miss a trade. Moreover, with its suite of comprehensive services, its fair and transparent fee structure, and its strong security policies and fraud prevention practices, ICICIdirect enables you to invest and trade with confidence, just like it does for its 9.5 million other customers, and 6.5 lakh crore in client assets.
This Diwali, give yourself the gift of financial independence and start the new year off on a positive, confident note with ICICIdirect.
Disclaimer –
ICICI Securities Ltd. (I-Sec). Registered office of I-Sec is at ICICI Securities Ltd. - ICICI Venture House, Appasaheb Marathe Marg, Prabhadevi, Mumbai - 400 025, India, CIN: L67120MH1995PLC086241 Tel No : 022 - 6807 7100. I-Sec is a Member of National Stock Exchange of India Ltd (Member Code: 07730), BSE Ltd (Member Code: 103) and Member of Multi Commodity Exchange of India Ltd.(Member Code: 56250) and having SEBI registration no. INZ000183631. I-Sec is a SEBI registered with SEBI as a Research Analyst vide registration no. INH000000990. Name of the Compliance officer (Research Analyst): Mr. Atul Agarwal Contact number: 022-40701000 E-mail Address : complianceofficer@icicisecurities.com Name of the Compliance officer (broking): Ms. Mamta Shetty, Contact number: 022-40701022, E-mail address: complianceofficer@icicisecurities.com. Investments in securities market are subject to market risks, read all the related documents carefully before investing. ICICIdirect Mobile App is offered by ICICI Securities. Baskets are not Exchange approved products and any disputes related to the same will not be dealt on the Exchange platform. The contents herein above shall not be considered as an invitation or persuasion to trade or invest. I-Sec and affiliates accept no liabilities for any loss or damage of any kind arising out of any actions taken in reliance thereon. Registration granted by SEBI and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors. None of the research recommendations promise or guarantee any assured, minimum or risk free return to the investors. For any queries or grievances: Mr. Prabodh Avadhoot. Email address: headservicequality@icicidirect.com Contact Number: 18601231122.
Moneycontrol Journalists were not involved in the creation of the article.
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