No Quick Way to Make Money – Careful Investment Plans!
No Quick Way to Make Money Careful Investment Plans!
There is no quick way to get rich but there are ways for safe investment plans. If you dread to invest in shares, mutual funds and in stock market there are other options open before you. You must thread the way which is less taken and is the smart way to invest too. There are new pension schemes which provide better profits provided you leave your money untouched with the bank for five years. You can decide on a particular amount and pay the same amount every year. This should be carried out for a period of three years after which you can choose not to make any investment. You are allowed to withdraw after five years or the day you retire. Continue to invest for three, five or for as long as you are working. Such funds have no risk unlike mutual funds.
Other types of funds to be considered are certificate of deposit. This has a lock in period which is decided by you while signing up the form. You can either sign in for three months, six or however long you want to. Just ensure that you don't withdraw before its due date. Think carefully before arriving at the maturity period as you will have to lose out a portion of your principal amount if you were to withdraw it pre maturely.
The basic recipe for a successful investment is a clear vision of your financial target and risk appetite. Apart from CDs, there are various options for diversifying your investment portfolio, such as saving deposits and treasury bills. Consider all available options before making a decision. Typically, CDs offer a fixed interest rate for the entire term of the investment. Thus, the biggest risk factor in opting for a CD is inflation, which can erode the purchasing power of the total returns from this investment option.
In case of shares and debentures, an investor must have sound knowledge about the stock market. He should keep himself up to date with the sensex, nifty and other indices to be able to track stocks which are doing well. You must be aware of those stocks which have had stability in the market. It is but inevitable to take risk in case of mutual funds, shares as they are subjected to the volatility of the market.
Whatever you invest in, find out if you get guaranteed returns on them. If you are sure of this, then just go for it!
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