Stock Market; Emerging Field To Build A Career
Lack of future-ready skills among youth is the principal cause of educated unemployment and underemployment in the country.
Unemployment is one of the biggest concerns for the country and it is becoming more detrimental with the growing percentage of educated unemployed people. In employment generation, India stood at 51st position in the world. The ongoing pandemic brings further burden on the economy with an accelerated unemployment rate. Last year, over ten million people have lost their jobs during the 2nd wave of COVID-19 and the household income of the majority declined drastically in the last two years.
Lack of future-ready skills among youth is the principal cause of educated unemployment and underemployment in the country. According to a recent study, 33 percent of educated youth in India are unable to find a job because they are not equipped with future skills, in spite of possessing a degree.
Alternate career option
Contrary to the orthodox professions, the stock market can be promising career options for millions of unemployed youths, students, and women in India. When the traditional job market is struggling to create new opportunities, stock markets are creating easy income avenues for a large section of society. There has been an upsurge in the number of persons interested in investing in the stock markets in the last five years. In 2020, more than 70 lakh Indians have opened Demat accounts, which shows people rising proclivity towards stock markets. The younger generation believes in accomplishing things on their own and the stock market brings them high returns on their investments.
Earlier people used to appreciate the conservative ways of investment that were considered safe and risk-free such as gold investment, FDs, and property investment. But, the 21st century offers more lucrative avenues of investments like mutual funds and share trading. The younger generation is more inclined to be independent and willing to generate income rapidly. Stocks Trading and investment is a great alternative to traditional occupations and a strong remedy to unemployment.
Open for all
Stock investment and trading are not meant for any specific group of people it is such a platform wherein homemakers, professionals, students and retired personnel can enter into the domain and enjoy paperless technology. It is important for youth to understand that stock trading and investment must be considered as one of the tools through which it makes young adults prepare to share the financial responsibilities along with their guardians. Financial literacy should be considered as the most important teaching in order to explore career opportunities in this domain.
More knowledge, better returns
The stock market is quite rewarding for individuals therefore it is important to work and learn under a mentor is mandatory. Individuals must understand that rush jumps without basic knowledge will lead towards producing disinterest eventually and in order to safeguard investments, it is important to set goals and should not step ahead without gaining knowledge to achieve targets.
People talk about the risks involved. But, people with adequate knowledge and skills seldom encounter any failure in this field. In order to achieve excellence in the stock market, it is important for aspirants to pursue a structured program and the prevailing modern technologies are offering e-learning platforms that generally emphasise eradicating myths and doubts and take the responsibility to introduce the fundamentals and technical aspects about the stock market.
Simple mantras of success
To minimise risks and maximise returns following things should always be kept in mind irrespective of one’s background or profession. These are managing money skillfully and taking informed decisions. In the real world, traders don’t lose money because of their low accuracy ratios, most of the traders and investors lose money because they fail to understand the importance of proper money management skills. There should be clarity on how much money you can risk per trade or investment, how to divide portfolio in different market capitalizations, and how much money you need to have in a buffer to be ready to put it in short term correction opportunities.
Remember, every top trader or investor happens to be a lifelong learner as they add new skills and learn from their mistakes by keeping a journal of their decisions and experiences. So, always keep on updating your knowledge and skills about the stock market because just like any other technical skills, they also need to be groomed constantly. Of course, to keep yourself ahead and have an edge in the market, you must be updated with the latest trends and practices.
Disclaimer: The views expressed in the article above are those of the authors' and do not necessarily represent or reflect the views of this publishing house
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