Invest karein tarakki ke liye,invest for health and wealth is my life mantra.
When I cleared my pre-medical entrance exams, my mom opened my PPF account. She deposited the money required for it and I contributed from the earnings I made through my tuitions. When I passed MBBS and started getting my first internship stipend I started my first mutual fund. Interestingly my mom’s saving habits always influenced me. She used the envelope system, to separate spending and savings. She encouraged me to save for the future as well as enjoy having my own spending money from what I earned.
Every week or sometimes twice a week we went out to celebrate surviving internship. The treat was simple and tasty, mutton Biriyani from Beau, a little-known restaurant tucked away in a corner of Central Avenue in Kolkata. But I still saved. Back then none of my friends had a PPF or any savings plan. I was determined to have an investing plan from the very first. Then I cleared my post-grad medical entrance went to Delhi, bought my life insurance, medical insurance and started investing in mutual funds.
I have not looked back since.
I believe in the early savings habits. While daily health habits make you healthy, daily investing habits will make you wealthy. But before you start to invest, you must do some reading and research to decide where to invest, depending on your risk capacity. I was interested in moderate to high risks and hence had my eye on bluechip mutual funds. What are they? Oh, they are a secret way of growing your money, the way wealthy companies do!
[bctt tweet=”#BluechipBig helps you invest the way wealthy companies do!#Tarakkikarein the smart way !” username=”misra_amrita”]
A blue-chip fund has stocks from large, well-established and financially sound companies who have operated for many years. A blue-chip stock will have a market capitalization in billions. And since they have a turnover in billions, are paying stable or rising dividends to their shareholders.
ICICI Prudential Blue chip fund is a market leader in this category, holding position 2 in the large-cap fund’s category by Crisil (for the quarter which ended in June 2018). The best thing about this fund is they are one of the biggest players in the market and they mean business. Their focus is no longer breaking even; they are growing and maintaining that growth. Even with slow markets, this fund always maintains or recovers their market leads.
Why should you invest?
If my friends laugh at me for my conservative risk appetite, I am happy to tell them my mutual funds are for long-term planning and not short-term. This is the advantage that the ICICI Prudential Bluechip fund provides.
I have plans for my daughter to inherit them, as it’s one of our nest eggs. I am patient and don’t believe in quick rich schemes. When it comes to choosing between one major growth spurt and funds that constantly perform, I will always choose the latter.
What’s your opinion about saving money and investing it to grow? Let me know in the comments below.
Disclosure: This is an associated post as a Public Awareness initiative. I am not a qualified Financial Advisor and this is my personal experience and not to be taken as professional financial advice. Mutual funds are subject to market risk, read all scheme related documents carefully. All investment should be done after consultation with a suitable expert, according to own financial risk appetite. Read full disclosure here
References:
- https://www.valueresearchonline.com/funds/newsnapshot.asp?schemecode=7517&utm_medium=vro.in
- https://www.moneycontrol.com/mutual-funds/nav/icici-prudential-bluechip-fund/MPI392
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Hello Dr. Amrita
Nice information
This really sounds safe and secure investment with higher returns on long term investment.
Thanks Bushra
Your personal journey into investing made for a good read. You are right about small financial habits leading to wealth too. Small consistent steps always work better than highly risky actions.
That’s so true
I have not heard of blue chip funds. However, ICICI is a renowned name and is reliable. Everyone wants to save money and want it grow. I hope this is a safe option. Thanks for sharing.
That’s so true.
Blue chip fund sounds really interesting and reliable.
Thanks Ashh
I never thought much about investments because usually my husband take care of such issues but it’s high time I actively participate in such decisions.
It’s good to start
I had never thought about investing and mutual funds! Reading this post really helped me learn a lot! Will check out more about blue chip funds! Thanks for sharing this!
When it comes to investments and savings I have zero knowledge. This post was Lucid and help me understand the matter better.
Glad you found it useful.
Well said Doc, its a very smart and sound decision you took of starting very early and focussing on long term rather than short term. Kudos to your Mom for influencing you. I do believe mutual funds and especially blue chip are the best from a long term stable risk and return perspective.
Thanks Akshata.
This investment option by ICICI prudential looks good to go even for people having less knowledge & interest in finances like me.
A systematic investment with proper guidance is the key factor to wealth creation. Consistency plays an important role in doing so.
Thanks for sharing your saving and investment plan with us. It is very helpful for us to choose the right
Investing in right chip fund is quite crucial with the way volatility has been seen in stock market. Thanks for this info.
Mutual funds are subject to Marketer risk but if you have a long term goal, then with sip mutual funds are a great option.
Well this is an amazing information every parent needs to know..people who donot have clear knowledge end up making big mistakes..