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  • Category: Miscellaneous

    Play safe strategies are very important now

    Not a single day passes when any Indian is bombarded with mails from various sources, literally seducing the innocent people with fabulous offers of what is now called Bitcoin.

    Today, while the Government is about to either ban or totally regulate the use of what is called crypto currency. Today, one is promised great returns, but one does not know whether the dreams will come true at all. No one really knows about this speculative instrument.

    It is vital for all middle-class people to play it safe and not be too ambitious at this stage. The best option could be to invest in the growth option in some good mutual fund and sell when the investment grows to some extent, since the gains are exempted from Income Tax up to one lakh rupees in one financial year, at the moment. The investment should be done in trenches of Rs.5000 in various good Mutual fund instruments.

    Likewise, investing in local chit funds is equally dangerous. It is always wise to not dabble in the stock market, without knowing the tricks of the trade.
  • #748086
    Right caution from the author as the crypto currency is privately managed and that seems to be chain marketing concept to earn and who is controlling the activities is not yet clear. Surely in the guise of earning fast the middle class and salary class would be lured to this earning fast activities. Now the earning seems to be fast and without any effort, the non productivity in the companies would be on rise and the saving in banks would drastically reduce. And the amount of interest paid by banks are pittance so people are looking for good returns on their investments and crypto currency seems to be luring them. Nevertheless the fly by night companies cannot be trusted and the government is not going to take any liability responsibility and therefore it is purely left to the discretion of the people to mend their ways.
    K Mohan
    'Idhuvum Kadandhu Pogum "
    Even this challenging situation would ease

  • #748102
    The suggestion given by the author is very valid. We should be very careful in making investments.
    One of my relatives got tempted with the returns that are being offered by a local chit fund company and invested about 12 lakhs. In between that company became bankrupt and all the investors in problems. They don't know whether they will get any returns? Even if they get also how much they will get is a big question.
    There are good mutual funds where the money will be much safe and FD in banks is safer than MF also but the returns may be very less. So don't play risky games with your hard-earned money and invest them carefully so that your money will be safe.
    Investing in shares is also not a good option for employed people as the element of risk involved is very high and bearing that risk requires a lot of support and finance from other areas.

    drrao
    always confident


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