Sunil Kumar is an accountant working for a foreign company in Abu Dhabi, earning over Rs 2 lakh per month. At 45 years old, he was worried about losing his job when COVID-19 first hit in 2020. Contrary to his fears, he received a promotion and a raise.
As the market rebounded from the 2020 crash, Sunil Kumar started thinking about securing his future investments. Inspired by the "Freedom @ 40" campaign, he quickly opened a demat account and began investing in the "best" stocks recommended by social media and friends, as well as mutual funds. Upon reviewing the detailed investment statement sent by NSDL, it was clear Sunil had invested in more than 50 stocks and 28 mutual funds.
After a partial withdrawal when the market performed well, his portfolio value shrank from around Rs 50 lakh to Rs 20 lakh. Feeling more confident with his job security and salary increase, Sunil began living more lavishly. After five years, he started thinking about settling down in India and revisited his investment plans.
He realized he wasn't sure how much he would need for retirement and his children's education. Like many others, Sunil had invested without setting clear financial goals. Despite market fluctuations, the economy is on an upward trajectory, promising better returns from equity-based schemes.
Investors should focus on long-term gains in the stock market, investing systematically for potential future profits. Although some hesitate to invest in stocks due to high market values, long-t.