Pooja Patel - Investing Is Anything More Than a Year and Trading Is Anything Within a Year (Founder of MyFundSIP with 346k+ Followers From India)

If I talk about Finance as a field, I thought of it when I was pursuing CFP and content creation came in my mind when I wanted to set up my own business. To start with content creation it was never the thought but I started that journey just so that in future If I am launching something it will give my career a great kick.

1. Tell us about your background and journey.

I come from a Finance background, my father has been in this field for 15+ years. He has pushed me in this field basically as I was doing my bachelor's in garment technology which has no connection with finance. In my second year of college, I started pursuing CFP(Certified Financial Planner) and cleared it by the time I completed my Bachelor's degree. Once I started pursuing CFP my taste developed in the same field and I also started working from the 2nd year itself.

Basically, I started my journey from 2018 in the finance field, I also did a corporate job for 1 year to experience new things in the field and to know how things are done.



2. How and when did you decide that you wanted to go into the field of Finance and be a content creator?

If I talk about Finance as a field, I thought of it when I was pursuing CFP and content creation came in my mind when I wanted to set up my own business. To start with content creation it was never the thought but I started that journey just so that in future If I am launching something it will give my career a great kick.



3. What is a financial plan that one needs to have? Please throw some light on how an individual can have a plan for oneself.

If I want to answer this, an individual who is not anywhere related to the finance field it is very difficult to prepare a financial plan because it needs a lot of technicalities and fundamentals involved which a financial planner can help more into. 

For a layman, I would just suggest a basic rule of budgeting that is 50-30-20 which means 50% spent on needs like groceries, bills, etc. 30% spent on wants like luxury goods, hotels, and gadgets, etc,  and 20% towards investing. For that 20% you could consult a financial planner for better investment plans.



4. Youngsters don't have the money to invest in trading and increasing so what would you recommend to them to start their investing journey?

Yes, youngsters will not have the money for trading so the best option for them is to start off with a SIP in mutual funds with min amount as 1000 and they are good to go. It doesn't require constant monitoring, it doesn't require time and effort, just find an investment platform like MyfundSIP which can guide which funds to start off and they can easily start their investment journey.



5. Is it true that one needs money to make money? If yes then how to make money without money?

If we are talking with respect to investing or trading then the answer is yes, because if you invest something and then only you could get returns on. If you wanna make money without money, find a business or freelancing work that doesn't require initial capital to be put for eg video editing, social media manager, marketing specialist, etc.



6. What mistakes did you make initially while investing and how did you overcome them?

Honestly, my father has been in the business for 15+ years so all my finances are handled by him and I don't think I have made such mistakes.



7. There are so many people who do not have the money yet want to invest in big companies. What advice would you give to them?

Big companies? Who said that there is no upper limit or lower limit to invest in big companies. Even if you are investing 1000 in a large cap mutual fund your money is diversified in 20-30 stocks that are top 50-100 companies in India and hence you can invest like this.



8. What are some of your principles in investing and trading?

Investing and Trading is a both separate concept:-

Investing is anything more than a year and trading is anything within a year. Investing needs patience and the results are compounding effects. Things to take care while investing are -

- Invest always for long term
- Plan out your financial goals and invest accordingly
- plan your tenure of investment
- check the product well, if you are new take a help of financial planner

Things to take care while trading are -

- Learn basics of stock markets.
- Learn technical as well as fundamental analysis.
- Give proper time and effort to paper trade first.
- Always accept your losses gracefully.





Instagram

Interviewed By - Shashank Sehgal