Achieving financial freedom is a dream for many. It is all about taking control of finances, ending debt, and becoming financially secure. The very first step towards achieving financial freedom is to manage your finances effectively and understand what financial freedom means.
According to Sooraj Singh Gurjar, founder and MD of Get Together Finance (GTF), financial freedom can only be achieved when money grows. Several ways can help grow money, but one of the most fast-paced and reliable is the stock market.
“Financial freedom comes from the thought that it is no longer stopping you from chasing the dreams you saw. Longing for financial freedom is not only about earning well; it is about maintaining your money well,” he said.
For a conservative investor, a large portion of the portfolio should be in fixed-income instruments. If the risk-taking abilities are higher, taking advantage of higher growth in equities over the long term can deliver impressive returns.
On investing in equities, he said that investing in good stocks can help in accumulating impressive wealth over some time.
“Assets can be in the form of any security, like stocks, commodities, or mutual funds. In today’s world, having assets that grow at the same pace as you is necessary. It is important to invest in stocks or securities that have a good future,” he said.
Compared to all investing options, equities have generated the highest returns. To build a high-income portfolio, there are different trading and investment strategies.
An investment strategy should first align with investment goals, Sooraj said, adding that the goal should be determined by factors like tenure and risk exposure.
Choosing long-term Investing can produce desirable results. The science behind ups and downs in equities in the long term doesn’t require countless hours to monitor. However, good research backed up by a stable mindset can help you experience the power of compounding over the years.
There is no set rule to navigate through the market. Sooraj added that the end goal should be to protect and multiply the money through appropriate risk management strategies.
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