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What do you usually do after work? Come back home and watch Netflix or go out with friends? Many people are now taking up side hustles to explore their passion outside work or to make some extra money outside of their primary job.
One side hustle that emerges as the best side hustle in India is stock trading. Specifically among Gen Z, aged 25 and younger, who are known for their enthusiasm and eagerness to explore various side hustles, are increasingly interested in engaging in stock trading. They display a strong desire and drive to explore into the world of stock trading as a means of generating additional income.
The ease of access and convenience are major contributing factors to the popularity of stock trading as a side hustle, all you need is a smartphone to enter the game. In just a few steps, one can sign up for a trading account and start trading effortlessly and effectively.
Recent trends and data is also witnessing a significant surge in the number of Demat accounts, primarily driven by the active participation of millennials. In the fiscal year FY23 alone, approximately 25 million (2.50 crore) Demat accounts were opened, with an impressive rate of around 2 million accounts per month.
Here are some of the advantages of doing trading as a side hustle -
You can be your own boss: Trading as a side hustle offers the opportunity to be in control of your own financial destiny. You have the autonomy to make decisions, set your own trading strategies, and determine your working hours.
Start small and scale at will: Unlike many other businesses or ventures that require substantial capital upfront, trading gives you the flexibility to begin with smaller amounts. As you gain experience and confidence, you can gradually increase your investments and scale your trading activities according to your comfort level.
Potential for financial growth: With careful research, analysis, and the right strategies, trading can provide an additional source of income and potentially enhance your financial well-being.
No doubt, stock trading as a side hustle offers the potential for financial growth and independence; however, it also carries risks and demands dedication, knowledge, and emotional resilience.
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