Indian Way Of Investing Money In The Right Way
Depending upon ones financial status, age, financial responsibilities and other factors one has to decide for a particular investment
. Because a particular investment that is bad for one may turn out to be very advantageous for another. Below are some of the tips that will help one to invest their money in the right way.
1.Mutual Funds
Though mutual funds are a good investment one should never invest their money completely in them as there have been many incidents in which people lost all their money in mutual funds but also there have been incidents in which people have earned huge profits through mutual funds. In order to invest in the correct mutual funds and earn profits one should have the correct knowledge about them which can be gained through business newspapers and magazines.
2.Fixed Deposits
Fixed deposits that are offered by government banks like SBI and other government organizations like post offices are 100% safe. One should never be attracted to high interests offered on fixed deposits by private Indian banks as these banks do so because they cannot get money from others as those others do not trust them. One can consider investing in the monthly income plans of mutual funds in which one can earn more profits than compared to a fixed deposit.
3.Savings Account
One can make complete use of savings account to earn that extra interest through the different sweep-in and flexi facilities that are offered by a number of Indian banks. It is always best to use these facilities instead of leaving your money idle in the savings account.
4.Investing in the right shares
One should be able to identity and invest in shares that have a high possibility of growth in the coming years. People who have earlier done this are now earning high profits they have dreamed of.
5.Investing in gold
Investing in gold is not one of the very best options but is only popular as Indians value this metal a lot both for status and security purposes. Though the price of gold has been increasing during the years at some point it is predicted that the gold rate may fall down heavily when the recession period comes to an end. At such time people who have invested in gold should have to bear heavy losses. It is better that one limit themselves to investing in gold.
6.Investing in ULIPs
ULIPs are a quite expensive investment and one can only earn profits if it is done as a long term investment. They have been many past incidents in which people have been cheated in ULIPs investment where they have lost all their money so investors just have to be careful.
by: Harsha Maitra
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