Invest in lowcost index funds for long-term wealth building from "summary" of Let's Talk Money by Monika Halan
Investing in low-cost index funds is a simple yet effective way to build wealth over the long term. Index funds are essentially a basket of stocks or bonds that tracks a specific market index, such as the Nifty 50 or the S&P 500. By investing in an index fund, you are essentially buying a small piece of every company in that index, which helps to diversify your investment and reduce risk. One of the key advantages of index funds is their low cost. Because index funds simply track an index and do not require active management by a fund manager, they typically have lower fees compared to actively managed funds. These lower fees can significantly impact your overall returns over the long term, as high fees can eat into your investment gains. Another benefit of investing in inde...
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