MONEY MULTIPLICATION PRODUCTS
Financial products refer to investment instruments that help you save, invest, and accomplish your financial goals. These financial products are issued by banks, financial institutions, stock brokerages, insurance providers, credit card agencies and government sponsored companies.
Our Life is divided into three stages –
SUPPORTED ROAD – this is the initial part of our life. It could be somewhere 20-25 years of age.
INDEPENDENT ROAD – The moment we start earning and are not financially dependent on others, we get into the Independent road.
SUPPORTIVE ROAD – The moment you get into the responsibilities of life like marriage and children that is the time you enter a Supportive Road.
The moment we get into the responsibilities of life like marriage, children coming into our life, that is the time we enter a “SUPPORTIVE ROAD”.
Now, as far as I understand, currently you are in your Independent stage and some you might enter your Supportive Stage.
On the Supportive Road, you need to understand what are the important junctions for you? Thereafter identify how much money will you require and for what purposes.
Set your priorities, calculate the money you will require then, and based on these calculations choose the investment products.
One of the fundamental rules of wealth multiplication is, “Let your purpose determine your product.”
Dhan Nu Vavetar Investment Products Includes –
Insurance is a contract between an individual and the insurance company. Insurance is broadly divided into two categories – General Insurance and Life Insurance.
Equity also referred to as shares, stocks, securities, embodies ownership of a company you have invested in. Companies issue shares to finance their business needs and growth. Later, shares are bought and sold by individuals in the stock market. Equity is a high risk and high returns investment instrument. Returns on shares can be in the form of dividend and/or profits on the sale of shares.
Mutual Fund is a professionally managed investment instruments that can help you diversify your investment into a number of financial products like equities, bonds and government securities. Mutual Funds also helps to reduce your risk exposure, while increasing the profit potential.