I would say the investment is definitely one of the best processes to build wealth. You can start with peanuts and build an empire by the time you retire. Every month, quarter, or year, you can invest a particular amount of money in mutual funds through SIPs. You can fulfill all your financial goals by investing in mutual funds.
However, one needs to be highly disciplined and focused in making investment decisions. By investing in SIPs on a regular basis, the money keeps getting deducted from your account every month or quarter and in this way, you can accumulate and build wealth.
It is also important to have a short-term emergency fund in case of any unforeseen event in life. This will ensure that you do not pluck out your investments and let them grow.
Diversification is the key while investing money, hence it is recommended to have a life and health insurance and put some money in fixed deposits since there is a risk associated with investments in mutual funds and stock markets.