Why Investment is Important for Future Life?
Investments are important for all of us because it acts as a safety net for the future. We would need money for a lot of reasons in the future, be it our studies, marriage, kids or retirement. All of these needs won’t be fulfilled with just saving up money. There has to be some other activity that could get us that money and ta-da! Investments are here to help you out. Also, diversifying our investments is also essential. They do say that never put all our eggs in one basket! A lot of people also opt for investment schemes because they have tax benefits. Under section 80C tax deduction on INR 1,50,000 can be claimed on your total income. Another tax beneficial scheme is PPF (Public Provident Fund) where you can invest between INR 500 - INR 1,50,000 annually for a lock-in period of 15 years. The interest keeps compounding every year and after maturity, no tax is levied on the whole corpus. Such schemes make it easier to invest and save up. Even though investments might be vital for us,