Ø Basically we need money to live normal living standard / Comfort / Luxury.
Ø Everybody earns ranging from thousands to Lakhs. This may be by doing job, business, farming, renting, servicing, contracting, lending, ancestrally etc.
Ø But everybody needs savings. Why?
· Because you can’t be alone always.
· You will soon get married.
· You will have to feed your parents / spouse / kids.
· You need to provide good accommodation to your near and dear.
· You need to provide good education.
· You always want to keep you and members of family above of others.
· You always want to keep you and members of family ahead of others.
· You may want to roam across the world.
· And many more
Ø How? There are many investment avenues to deploy money like Bank deposits, Postal, Insurance, Chits, Hand Loans, Real Estate, Share Market, Mutual Funds, Money Market Instruments, Partnerships in business and few more.
Ø The amount is also different and mainly depends on your surplus amount.
Ø Frequency changes for every investment avenue. Because some needs lump sum amount initially and some are not. Bank deposits, Postal, Insurance, Hand Loans, Real Estate, Money Market Instruments, Partnerships need the amount to be deposited initially.
Ø The important features required are Safety, Security, Liquidity, Transferability, Scope to grow. Strangely, all the salient features are not affiliated to all the above investment avenues.
