Your pay-cheque may be adequate to buy all necessities of life. You may even be able to afford the luxuries of a European vacation or the latest iPhone. But what about the days when you won’t have your monthly salary to rely on?

Most individuals today are indifferent about planning for the future. Failing to plan towards a secure future is part of the “YOLO Culture” that has captured the minds of individuals who don’t know better. “You only live once,” they say it, as they ignore investing in their future and fumble through life without a plan. But the truth is, there is a flip side to this.

If you don’t invest your money today, you are missing out on opportunities to increase your worth tomorrow. After all, investing in the best investment plan can help you earn higher rates of return but also remember the 5 Points to consider before investing in insurance plan.

Why is Investing Money Important?

Each one of us plans for and aims to achieve some financial goals. Whether its wealth creation, buying a house, children’s education, or retirement.

Different goals require a specific type of planning and can be met by investing money in the right financial instruments. However, if you do not invest, your money lies aimlessly in the bank account, earning a minuscule interest rate.

Here’s why you should invest your money:

1. Wealth Creation

Gone are the days when this old adage held true “Money saved is money earned.” Today, it’s all about “Money invested is money grown.” After all, the more you invest, the more you earn!

Furthermore, investing in market-linked equity funds have the potential to offers good returns over a long-term, thus, helping you build your wealth.

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2. Source of Income in Retirement

Retirement is unavoidable. Regardless of whether you are working or own a business, you must consider your retirement and begin investing towards the same.

For this purpose, putting your retirement savings into a portfolio of investments is a smart choice. It will help to create a stable source of income in your golden days.

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3. Reach Financial Goals

Perhaps you would like to buy the latest model of your dream car. Or, maybe you hope to purchase a home in the next ten years. Whatever your goals are, you have a better chance of achieving them if you invest in best investments plans available in the market.

By doing this, your money can earn higher returns over the long term, and these returns can be used for fulfilling your major financial goals, such as:

• • • Funding your children’s higher education

• • • Buying a home or a car
    • Realizing your entrepreneurship dreams

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4. Save on Taxes

Another major advantage of investing is the ability to save on taxes. For instance, the money you put into tax saving investment plans such as ULIPs provides tax-free returns on maturity.

Also, the premium invested is eligible for tax deduction u/s 80C, up to a maximum of Rs. 1.5 lakhs per year. This saves you a considerable amount of tax, every year that you contribute.

Where Should You Put Your Money To Invest?

For a happy and stress-free future, you envision a regular flow of income. This is possible only when you plan your investments well during your working days. It is vital, therefore, to choose your investment plans carefully.

However, choosing the right asset allocation and evaluating the correct risk-return metrics can seem complex. ULIP based wealth plans or savings plans offer a good solution in such a scenario as they are a smart way of investing in different types of funds, like:

• • • Equity funds

• • • Balanced funds
    • Debt funds

Such wealth plans provide the dual benefit of life cover along with lump-sum payout for your financial goals. Moreover, you also get the flexibility to choose from a wide range of funds, as mentioned above,  to suit your investment style. Additionally, these are tax saving investment plans which help you save on taxes too.

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What’s more, reputable insurers like Max Life Insurance offer ample benefits to investors, including:

• • • Flexibility to switch the money as many times as you want

• • • Zero policy administration charge and zero premium allocation charge

• • • Flexibility to increase the life cover
    • Flexibility to select policy term (5 to 30 years)

So if you are beginning with investing, we would encourage you to really look at ULIP-based investment plans as a great way to get your foot in. Don’t shy away from making investments because you don’t have enough. Simply start with a small amount and give it time to grow.

Remember this- investing in the best investment plan can fulfill more than one financial goal and serve as a valuable source of income tomorrow.

Now that you have witnessed the importance of investing, just get started since An Investment Today-A Source Of Income Tomorrow.

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