By the time you reach your thirties, financial commitments will seem to pile on one after the other and soon, it might seem like you are not able to handle it. Before you are required to make unnecessary compromises to stay financially afloat, try to create a reliable second source of income which can rightly complement your lifestyle.
While there are several options available for you develop that second source of income, we recommend you to consider share trading. Trading might come with its own risks, but once you understand its nuances, it is possible to make money with minimum effort.
To make our case, we list compelling reasons as to why the share market is an excellent way to make extra money and ultimately grow your wealth.
Setting up is easy
Here are the things you need to start trading: a laptop/PC, internet connection, trading account and initial capital. Any other business that you wish to start might require inventory, goods, special software and hardware and so much more.
A steep but enjoyable learning curve
Share market is an ocean. It requires a thorough knowledge of how the market moves, fundamental and technical analysis, and so much more. Try to stay ahead of the news and capture trends from the beginning.
If you are someone with an aptitude for analytics and a love for dynamic changes, then share market is definitely your cup of tea.
The returns from a sturdy share trading strategy are often much greater than the returns you can expect from a savings bank account, fixed deposit account or even mutual funds. This is owed to the fact that market phases are easy to capture and make profits out of.
With a decent strategy, you can expect to double your money in 3-5 years whereas it will take more than twice that time to do the same using other traditional means.
Minimum time requirement
Any business that you undertake would require you to spend an average of ten hours every day to make it a success. The advantage with share market is that, with technological advancements, you can set up your trade-in as little as ten minutes every morning and place your orders.
Zebull from Zebu comes packed with features for you. It has screeners and watchlists and so much more to make life easier for you.
Scalability in revenue growth is as simple as increasing the lot size of your trades. Simply put, if you are satisfied with the returns you get from your strategy, you can increase your capital to make more profits.
The minute you place a withdrawal request with your brokerage firm, you will receive the money in your bank account in two business days. You cannot expect such liquidity in other businesses like restaurants or real estate.
We are all spokes of the economic wheel that moves our country. Every individual contributes in one way or the other to the economy and in turn, to the movement of prices in the share market. You might as well make money out of it. Happy trading!