Start investing early to reap the benefits of compounding later in life
Investments are no longer about parking extra cash somewhere worthwhile. In fact, even a small contribution out of your salary every month can help you achieve your long-term goals.
Since goal-setting is an important parameter for choosing an investment option, it is vital to sift through your finances and then decide the kind of returns you want from your money.
The best part about investing is that you need not have a fixed monthly income cycle. For example, if you are a freelancer or someone whose payment cycle is erratic, you can park your money in liquid funds so that you don't have to time the market.
The most important parameter to keep in mind while investing is to start young; making investments are like taking care of your health. Start early and you will reap the benefits later on in life.For more, watch this episode of Smart Investing for Women. Anchal Pathak speaks to Anulekha Verma, partner at Fission Wealth, about why it is important for even young working women to plan for retirement.