Bhubaneswar: While the investor’s mood is in a worried state as uncertainty over US President Donald Trump’s Trade War, Ace Financial Wizard, Rajib Sekhar Sahoo underscored the significance of choosing the SIP Route.
Shri Sahoo advised for Systemic Investment Plan (SIP) route, while speaking about the risks of Equity-Based Schemes.
Shri Saho was recently speaking in an Investors Awareness Program organized by a leading Media House, has shared insights on various kinds of investments.
Stressing on the importance of wise financial management, Ace Financial Consultant Shri Sahoo said even educated people make poor investment decisions and fall prey to fraud like chitfund scams.
“People may have money but they need to have sufficient knowledge to use it wisely. They have to be pragmatic without being susceptible to misleading assurances of quick profit-making schemes, said he.
If a scheme’s luring claims of high profits excites you, that’s a warning sign. Consider all factors before putting your money in any kind of investment. Educate yourself on financial management but always take the help of experts while investing,” Shri Sahoo said.
CEO of Mirae Asset Mutual Fund Swarup Mohanty pointed out that saving money without any clear mandate is of little use. It is only when that money is managed wisely with clear goals that it qualifies as investment.
Talking about commencing financial management, Shri Mohanty said there is no “right” time to invest. One can start anytime.
However, he cautioned that those starting late will have to invest a larger amount of money to reap the benefits as compared to those who started earlier.