Finance Guru Satyen Kothari Shares Tips On How Women Can Build Long-Term Wealth

Indian women have mastered the art of managing money given how many of them run budgets for large families, look over monetary give-and-take amongst relatives, supervise wedding expenses, and in the last two decades and more, work on maximising their income from jobs and entrepreneurial ventures too.

1. What does long-term wealth mean?

Long-term wealth creation means you take a patient and systematic approach to investments. You focus on investment opportunities that promise healthy returns over the next 5 – 10 years instead of chasing short-term gains.

2. What is the importance and benefits of building long-term wealth for Indian women?

Long-term wealth creation is the key to financial freedom and independence. This is something that many Indian women aspire to achieve and a combination of high-quality investment advice and simple automation can help them build the perfect portfolio of investments. This will help them achieve all financial goals.

3. What are the key steps of long-term wealth accumulation?

Patient, consistent and disciplined investing are the key steps for long-term wealth creation. This can be made easier by using a wealth creation platform. There are many such platforms and apps that offer a variety of services like connecting you with financial advisors and wealth coaches or even automating your investments.

4. How can you build wealth in your 20s & 30s as a working woman? What are some tips for homemakers to start their journey towards long-term wealth building?

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Irrespective of your profession, if you’re someone aged between 20 and 30, this is when you can afford to be the most aggressive with your investments and undertake the most amount of risk. Limited financial responsibilities and the fact that your peak earning years are ahead of you means, this is an ideal time to start investing. The sooner you start investing, the more you can benefit from the magic of compounding.

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5. How do shares, mutual funds and other investments like gold and precious jewellery help women accumulate long-term wealth?

If you’re investing for the long-term and consulting a wealth coach, you will be able to pick high-quality stocks, mutual funds, digital gold etc. These assets have varying levels of risk, liquidity and potential for growth. A good investment app will help you narrow down your choices by showing you the best options for you. It will also help you look at wealth creation in a holistic manner. This way you’re not thinking of just growing wealth but growing wealth for specific life goals.