We are living in times when a large young population is entering the workforce each year.
We are also witnessing increased longevity, which along with improved medical care is resulting in people living longer after their retirement. People are anxious whether they will have enough to see them through retirement. The need to start investing early with mutual funds cannot be emphasised further. Our Agelinked Asset Allocation uses the 'rule of 100 minus age' as a simple yet powerful rule-of the thumb for equity allocation. This facility allocates your investment between equity and debt in such a way that the initial allocation favors equity and becomes increasingly conservative as you approach retirement.
The young population faces distinct financial challenges beyond budgeting and financial planning. Apps and online tools enables these DIY (do it yourself) investors to evaluate their financial future. The results are intimidating to know the large sums of money they would need to achieve their ambitious financial goals – vacations, buying a home, early retirement and so on. In such scenarios money never seems to be enough.
Simply put, dealing with personal finance is mystifying and a big concern for everyone. And, at the end of the day, people just want to know if their money is going to be okay. Our experience tells us that financial stability sits among the top priorities for individuals after their family and health. People have greater concern about finances today and worry whether they would have enough to face the frequent money challenges that are coming their way.