Listen to this article
A report, ‘Wealth & Well-Being: Unravelling the psychological impact of pursuit of wealth’ released by Aspero, a fixed income investment company reveals that 8 out of 10 individuals in the age group of 26-35 want to invest in mutual funds.
However, their younger counterparts or individuals in the age group of 21-25 prefer investing in direct stocks and fixed deposits.
Interestingly, the report reveals that 51% of respondents commenced their investment journey within the first two years of their professional life.
Here are some key findings of the report:
- 70% individuals have been investing in mutual funds via SIPs
- Aggressive investors target retirement corpus of Rs.10-20 crore while conservative investors aim to accumulate Rs.20-50 crore for their retirement
- 23% of men respondents are more comfortable with retirement corpus of Rs.10-20 crore while all women respondents prefer Rs.5-10 crore for retirement
- Many aggressive investors rely on personal research to invest their money while conservative investors seek guidance of parents or experts
- Respondents associate financial freedom with independent decision-making without monetary concerns and achieving a debt-free status
- Most respondents feel that fixed income instruments are neutral
