Everyone who has thought about investing their money somewhere or even familiar with banking knows what a fixed deposit is.
For those of you who do not know what it is, Fixed Deposit is when you give the bank or the fund a sum of money for a certain period of time which can rage from a week to several years. In exchange, the bank will give you a fixed rate of interest per year regardless of what the external conditions are.
Now who doesn't want fixed returns for their investment?
I can speak about India where the average rate of interest is 7.5% per annum.
Now you are probably thinking: "Wait, hold on! Why is this random dude on steemit telling me not to put my money into FD's even though it's giving me a fixed percentage on my investment?"
The problem is that 7.5% is lower than the rate of inflation.
The rate of inflation is counted as 8% and 7.5% is lower than 8.
So basically you'll be losing out on your money if you get your money into a fixed deposit.
It's one of the biggest scams in the entire history of banking and I can see many people still opting for FD's and endorsing it as if it's going to make them the next Warren Buffet.
Invest your money in mutual funds, diversify them into different mutual funds. Small cap, large cap etc.
Mututal funds can give you anywhere around 25-130% returns on your investment.
You can just sit back and let the money you have already earned make shit loads of money for you with minimal effort.
If you are interested, and you have time, you could simply learn how the Cryptocurrency/Stock Market works, the technical analysis and start getting those huge returns yourself. You can start small and move forward. There's so much information available online to make this thing possible. Who knows? Maybe you are the next Warren Buffet.
Thank you for reading!
P.S: I've decided that I want to buy a Kindle for myself. I'm going to buy a Kindle from the earnings I get from steemit. If this post added any value for you, please consider upvoting it.
