Confederation of Indian Industry (CII) Young Indians (Yi) Chandigarh Tricity Chapter organised a session on Financial Management at Vivek High School, Sector 38 B, on Wednesday. The session aimed to inculcate the importance of financial planning among the younger generation.
For greater financial security in life, students must start financial planning as soon as possible, said Prabhujeev Bajaj, Member, Yi Chandigarh-Tricity Chapter and AGM, HDFC Bank Limited.
Bajaj encouraged the students to decide about their financial goals for life and plan their investments accordingly. He said since more risks can be taken at a younger age, students should think of investing in equity. He said students must also track the stock market through leading business newspapers every day. “Financial planning is a must for success in life as risk-taking capacity gets limited after the age of 40,” he added.
He apprised the students about inflation, risk versus returns, asset allocation, tax saving, mutual funds, systematic investment plan, term insurance, health insurance, higher education, marriage planning and retirement planning to students of XI and XII. He said, “More Risk leads to More Returns” and when it comes to investment, we should never put all our eggs in the same basket.
Bajaj also answered queries of the students during an interactive session.