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Bloomberg Quint

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Eight Money Myths That Stop Middle Class From Creating Wealth

  • Many middle-class families believe that diligently saving money in bank accounts is enough to build wealth, but true wealth creation requires investing in assets like equities, mutual funds, or real estate.
  • Investing can start with as little as Rs 100 a month through mutual fund SIPs, offering the benefit of compounding over time.
  • While real estate has been favored traditionally, diversifying into stocks, mutual funds, and bonds can offer better returns and flexibility, especially for younger earners.
  • Challenging misconceptions and adopting smarter financial strategies is crucial for the middle class to build lasting wealth by breaking free from common money myths.

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