TomorrowMakers ™

Here is the gift that every father deserves this Father’s Day

16 June 2017
What can you give to the man who has given you everything?
 
 

When Father’s Day comes around, you consider the expensive watch, the expensive dinner, the expensive road-trip. Some way to treat your dad to a memorable experience with your own money. Why? Because fathers are always trying to teach us the value of money. And the dream we all have is to share our success with them. 

But now that you’re older and more responsible, maybe it’s time to give back to the man who taught you to stand on your own feet. After all, you are probably where you are in life today, because of him. This Father’s Day, why not show him just how much you’ve learned? Follow the steps below to show your dad you’re truly financially independent.  

 

1. Decode the finance channel:  

Have you spent time watching the business channel with your dad but never really understood it? Your dad may even have wanted to invest in the stock market, but held back because he heard some story of someone who lost a lot of money that way. But he may be missing out: equity investments are always profitable in the long term. 

So, why not figure it out for him? 

While in your 20s, you don’t usually have to think about major responsibilities such as home loans, children’s education, etc. Instead, you can experiment in the stock market and sharpen your understanding of business.  Why not start with buying equities? It is a good area to invest money in. Here’s how you can get started instantly! 

 

We understand that though it’s appealing to start investing, you may not always have the time. That’s where mutual funds can help. It doesn’t require that much of an effort as you can start with an amount as low as favourite things, you don’t need to go running to dad!

 

Show him that you’ve not only been listening to him but have also planned for the road ahead by starting to save. Even if it is Rs 2000-3000 a month, it can get you into a habit and will make a big difference a few years down the line. Here is why an early saver who starts investing NOW will always make more money than someone who starts later, but invests a larger amount. It’s called the gift of compounding!

 

  1. The backup plan:  

Investing is a brilliant move for your future. It’s the best possible Plan A. 

But without Plan B, it could very well be in vain.  

You need to plan for things going wrong, so that if you do, you are better equipped to deal with them, and your hard-earned money doesn’t go waste in dealing with emergencies! This is where insurance comes in. It’s a small price to pay, so you avoid paying a much bigger one.  

It is time to show your dad that you haven’t just planned for success but for failure too. By buying insurance early, you can also avail benefits out of the lower premiums offered at your age! As your salary increases gradually, various top-ups will assure that your cover grows to take care of your financial needs. 

Closing thought 

Here’s hoping you make the most of this Father’s Day and give your dad a day he’ll never forget! After all, this is what he’s been waiting for all his life- to see you financially independent and facing real-life challenges head on! Plus, with money, you can be sure that when you want to buy your favourite things, you don’t need to go running to dad 

 
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