How to Educate Your Parents About the Online Investment Scenario of India

'Generation gap' affects everything, including people's investment outlook.  

In your parents' days, there were limited investment options. So, it was easy to choose an instrument. But at the same time, it was also easy to miss out on lucrative opportunities due to a lack of awareness. Today, there are multiple ways to invest online. You can browse schemes and build your portfolio as per your goals. 

The generation gap may make your parents hesitant to try online investments, and they may even tell you to avoid doing so. But given someinvestment education, parents can also take advantage of online investments. Here are some tips you can use to help them. 

Assure them that online investments are legitimate

People of your parents' generation understand that all financial undertakings involve heavy paperwork and authorisation. So, they may not be keen on investing in mutual funds through a click of a button.

So, educate your parents that online investments apps are equivalent to offline investments. They require a due registration and KYC process but are quicker than offline modes. 

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Assure them of the security

Online investment apps use encrypted firewalls for your transactions and protect your fund details from fraud.

When you use third-party apps, you alone get the ownership of mutual fund units through direct transactions with your bank account. SEBI monitors all trading activity on your investment apps, so you do not have to worry about losing your money. 

If you are using more than one investment platform, you can view all your purchased units in one place using MFCentral. 

Highlight the benefits 

Educate your parents about the countless benefits of online investments over the traditional modes of investment.

On apps such as Moneyfy, you can enjoy the following: 

• Browse options tailored for you: Earlier, people used to invest in funds that were advertised or recommended by their friends and family. But now, you can create a custom goal and assess your risk profile, and the app will recommend fund options tailored for you. 

• Analyse fund options: Using our returns calculator, you can estimate the value of your money in the future by entering your SIP amount, interest rate, and tenure. You can also view the Morningstar and Value-Research ratings of various mutual funds. 

• Convenient transactions: You can check the schemes of almost all the fund houses in the market. What's more, you can monitor schemes and start investing at any time of the day. As long as you have a smartphone and internet access, you can use the app no matter where you are. 

• 100% digitised process: There is no need for paperwork. All activities from registration to transactions are 100% paperless and digital.

• Fast: No need to visit a branch when you can manage your funds with one click from the comfort of your home. 

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Start investing!

Investment tips for parents, such as how to invest for retirement, can be a good place to begin setting goals for online investments. 

We at Tata Capital are happy to help you and your parents begin their online investment journey. So, download the Moneyfy app, complete the online KYC process, and become investment-ready in a few days!