Millennials Are Better Wealth Creators Because...
Hey Fam!
How’ve you all been? Another month has passed by and come to this painful realization every time one of us pens down this monthly newsletter for you. This month’s realization is extra painful because I understand that we’re half past 2024 when I’m mentally stuck in 2019.
So, I’ve decided that this month is all about recovery. One month from now, most of us will get our hands on that sweet tax refund money, and yay that’s great motivation to make the most out of July and count the days to August, right?
Here’s what’s in store for you:
Monthly Market Review - June 2024
Are Millenials Better Than Gen X/Z?
3 Steps To Beef Up Wealth Creation
Binge Of The Month
Everything You CANNOT Miss
‘Sup with the market
June has been an incredible month for investors of the Indian equity market as the markets were on the rise for four consecutive weeks with a broad-based rally, and most segments closing in green, overall.
Markets rebounded sharply after suffering significant losses amid the projected election results in May and hopes of policy continuity and stability paired with other socio-economic cues made for a great month at D-Street.📊
Three Reasons Why Millennials are Rocking at Wealth Creation 💼
Millennials often get a bad rap, but when it comes to building wealth, they're actually killing it. They seem to have seen a huge jump in their average wealth since the pandemic. Let’s break down why millennials are doing so well at creating wealth.
🧠 Savvy Investment Moves
Millennials are proving to be really smart with their money. They're not just saving; they're investing in diverse assets like stocks, real estate, and personal businesses. The CAP report shows that millennials' wealth growth isn't limited to a few rich individuals—it's spread across different income levels, as against Gen X. Thanks to low interest rates and inflation during key years, many millennials have been able to invest wisely and see significant returns. Early investments and diversified portfolios have set them up for success.
🤓 Smart Use of Inheritance
Millennials are also benefiting from the great wealth transfer from baby boomers. But they’re not just sitting on that money; they’re putting it to good use, especially in real estate. Many millennials have used inheritance money to buy homes, giving them a strong financial foundation early on. This head start in the housing market has allowed them to build investment portfolios and grow their wealth more quickly. According to experts, leveraging inheritance for strategic investments has been a game-changer.
👩🏻✈️ Proactive Financial Planning
One of the biggest differences with millennials is their proactive approach to financial planning. Unlike previous generations that relied heavily on pensions and Social Security, millennials are taking control of their financial futures. They're saving for retirement quite responsibly through PF, PPFs, Mutual Funds, and whatnot! This proactive planning is paying off, as they get to build substantial wealth by being smart and forward-thinking about their finances.
🤹🏻♀️ 3 Steps to Beef Up Your Wealth Creation Quickly
Ever wonder how some people seem to grow their wealth effortlessly? Well, it might obviously not be as easy as it looks but it isn’t rocket science either, if you’re diligent enough. Do this right away to get ahead:
1. 💸 Automate Your Savings and Investments
Set up automatic transfers from your checking account to your investment accounts each month. This way, you pay yourself first and ensure you're consistently saving and investing without even thinking about it. Automating your savings helps you stay disciplined and makes it a habit, so your wealth grows steadily over time.
2. 📈 Invest In The Stock Market
Investing in the stock market is a great way to grow your wealth quickly. Stocks usually offer higher returns than other investments. You can start with mutual funds or exchange-traded funds (ETFs) if you're new to investing. For those with more experience, picking individual stocks might be an option. Just remember to diversify and only invest what you can afford to lose.
3. ⏳ Think Long-Term
The longer you stay invested, the more your money can grow. Thanks to the power of compounding, even small, regular investments can turn into a substantial sum over time. Stick with your investments through market ups and downs, and you’ll see the benefits in the long run. Remember, it’s all about patience and consistency.
🔖 Binge of the month
This month Niyati was reading The Price of Time by Edward Chancellor and she said “Honestly, I have mixed feelings about this book. It doesn’t quite merit the glowing reviews it received, as its quality and readability are quite inconsistent. However, it does spark intriguing discussions and offers a comprehensive bibliography for those interested in exploring its topics further.”
🍸 Cocktail Pe Charcha
Is it too overwhelming to research & plan your investment? Say no more, we can personally guide you into mixing the perfect financial cocktail to manage your money!
Wealth-building doesn’t happen overnight, but making smart choices and sticking with them can make the process awfully fast. Be consistent, hold your patience close and you’ll be building your wealth in jet-speed!
To watching your wealth grow! 🥂
Sayali❤️