{"id":10218,"date":"2020-06-19T11:01:52","date_gmt":"2020-06-19T11:01:52","guid":{"rendered":"\/blog\/?p=10218"},"modified":"2024-12-24T09:52:18","modified_gmt":"2024-12-24T09:52:18","slug":"can-diy-investments-add-value-to-financially-aware-millennials","status":"publish","type":"post","link":"https:\/\/www.tatacapitalmoneyfy.com\/blog\/investment-guide\/can-diy-investments-add-value-to-financially-aware-millennials\/","title":{"rendered":"Can DIY investments add value to financially aware millennials?"},"content":{"rendered":"\n

Ever since DIY investment solutions arrived on the scene,\ninvestors have relied on them greatly to plan their financials and manage their\ninvestments. Millennial\ninvestors, in particular, can benefit significantly from such investment\nplatforms. Now in their prime earning years, millennials are financially aware\nand are poised to make the most of DIY investment services. <\/p>\n\n\n\n

How can DIY investment solutions add value to financially aware millennials <\/strong><\/h2>\n\n\n\n

As a matter of fact, yes, they can. Over the\nyears, investment services have evolved substantially by keeping pace with the\nchanges in the financial and investment spaces. Most DIY investment solutions adapt to the\nrequirements of millennial\ninvestors, which are completely different from those of the previous\ngenerations. <\/p>\n\n\n\n

How do such solutions help financially aware millennials?<\/strong><\/h3>\n\n\n\n

To fully understand how DIY investment solutions\nadd value to millennials, it is essential to take a look at the ways in which\nthese solutions help them. If you are (or someone you know is) a millennial\nlooking to make the most of the investment options available, here\u2019s how these\ndo-it-yourself platforms can be helpful.<\/p>\n\n\n\n

They help identify new investment avenues<\/strong><\/p>\n\n\n\n

The lifestyle priorities of millennials are\nvastly different from that of baby boomers and Gen X. Younger millennials tend\nto have a larger appetite for risk and therefore are not afraid to pursue new\nand riskier investment\noptions. Older millennials, on the other hand, may prioritize wealth\ncreation for the purpose of early retirement.<\/p>\n\n\n\n

Here\u2019s where DIY investment solutions can assist millennial investors like\nyou. They educate you about the latest avenues of investment available, bring\nyou up to speed on the various latest investment options and help you chart out a\nfinancial plan that allows you to invest in these schemes. And the best part is\nthat you can accomplish all of this on your own.<\/p>\n\n\n\n

Moneyfy from Tata Capital complements your\ndo-it-yourself investment plan perfectly. This user-friendly app enables you to\ninvest in various kinds of mutual funds, including the ones rated as top\nchoices by Morning Star and Value Research. Furthermore, you can also opt to\npurchase gold funds or other thematic funds to diversify your portfolio and\nexplore other mutual fund investment\noptions.<\/p>\n\n\n\n

It helps plan for the short-term and the long-term <\/strong><\/p>\n\n\n\n

DIY investment platforms like Moneyfy from Tata Capital offer the option of instant redemption, so millennials like you can meet any short-term emergency requirements that may crop up unexpectedly. This feature is particularly useful during uncertain times. It always helps to have the freedom to keep your investments liquid, if needed. <\/p>\n\n\n\n

Do-it-yourself\nsolutions also provide you with the much-needed assistance required to\nplan for the long term. If you\u2019re a millennial investor, do-it-yourself\ninvestment apps and platforms give you the option to set your own goals, choose\nfrom a range of investment options, and create a portfolio of investments that\npay out at key stages in your life. These investment solutions also guide you\non how much to save for retirement.<\/p>\n\n\n\n

Tata Capital\u2019s Moneyfy can help you save up\nfor the future in small amounts through a Systematic Investment Plan. If you\u2019d\nrather invest a lump sum amount instead, Moneyfy supports that strategy too.<\/p>\n\n\n\n

Additional\nRead: <\/strong>Understanding the Power of\nSystematic Investment Plan<\/a><\/strong><\/p>\n\n\n\n

It helps save taxes<\/strong><\/p>\n\n\n\n

The current financial and economic climate\nis volatile. Tax regimes have also been undergoing changes very often. In spite\nof being financially aware, most millennial investors may not be up to date with the various\ntaxation laws that are in place. As a result, they might not be in a position\nwhere they can take optimum advantage of the various relaxations that our tax\nlaws offer.  <\/p>\n\n\n\n

In addition to providing investment advice\nand assistance for long-term financial planning, DIY investment platforms can\nalso help millennials save tax. Right from recommending attractive tax-saving investment options to\ngiving suggestions on how to rejig an investment portfolio to minimize the\nimpact of our tax laws, these services can do it all.  <\/p>\n\n\n\n

If mutual funds are your investment of\nchoice, you can include tax-saver funds as a part of your investment portfolio.\nWith Moneyfy, you can invest in options like ELSS, which helps you save tax as\nwell as create wealth. <\/p>\n\n\n\n

Additional Read: <\/strong>Is ELSS a Wealth Creation & Tax-Saving Tool?<\/a><\/p>\n\n\n\n

Conclusion<\/strong><\/p>\n\n\n\n

DIY investment solutions have embraced the full power of technology and are going completely digital. With around 60% of millennial investors being tech-savvy about choosing solutions for their financial needs and requirements, do-it-yourself investment services can be a great complementary addition to your investment tools. Go ahead and take advantage of some do-it-yourself investment services, so you can benefit from this value addition over the long term. <\/p>\n\n\n\n

Download the App<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

Ever since DIY investment solutions arrived on the scene, investors have relied on them greatly to plan their financials and manage their investments. <\/p>\n

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