Starting to Invest from a Early Age

The power of compound interest is huge and it should not be underestimated. My dad always kept on telling me the importance of saving from a very young age. I remember when I was 12 or 13 he started getting me involved in banking work, he would always take me to the bank with him and make me do small things like filling up the slips and dome basic documents, and then make me do things independently. I am so glad for all this training that he gave me.

In the past when there were no online systems and everything was to be done manually through form fillings, he would make me do it. Like applying for new IPOs, withdrawing money from the bank, crediting cheques and all. All of these things had nothing to do with saving money but it started making me understand the world of finance. In those days there were passbooks where all the debit and credit details would be there, and he would make me go through it to understand, what is savings and what is withdrawals and then the interest earned on it. Whenever I would see good balance in the account I would feel happy, and from there I started picking up the importance of savings part.

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I would check my dad's bank accounts, how he would systematically invest and then the account balance would grow, then whenever we need big sum of money we would withdraw from that to take care of the expense. This is how my knowledge on investments started picking up and till date those basics are helping me in life. He would always say that for people like us who are in jobs and have steady income, we should also do steady savings because when we need big amount of money we are not going to get it from the air, it will be these steady small savings only that will help us, and he was right.

Till date I have followed his advice, I have kept saving through out my life in small pieces and now when I am at that stage of life where I plan to retire from work completely it will be these small savings that will help me, which are now no more small.

The investment scenarios have changed in the recent times and there are lot more opportunities but I will say that what I learned from my father and saved has set up a good base for me in my life.

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