Recently I was going through one of the publications about investment and in this publication, various types of investment options were discussed. There were many options discussed in the post and gold was also one of them. It's true that when it comes to investment will look for a more safe option with higher returns and that is a traditional mindset in the area of investment.
I think the investment is quite important part of our money management and through this, we can create a Corpus of fund Ferrari future. Nowadays when bank accounts are not giving enough returns and even keep on decreasing interest rates on recurring or fixed deposits which is why people are moving away from banks. There was a time in my childhood when banks were offering almost 10% interest for annum which was attracting more people to go for banks and have their investment with them.
Now since the rate of interest has gone down and currently in fixed deposits Indian banks are offering about 6 to 7% interest depending upon tenure and amount and in saving it's just 3% approximately. I have never been in favor of deposits with the bank, ok but investment on gold is one of my favourite parts and I keep on doing whenever I get surplus funds with me. I am grown seeing my parents buying gold every year and mostly on occasions like anniversary, festivals like Deepawali, etc.
In my opinion, gold investment is one of the safest options that I always love to go for and I do it a few times in year especially on my wedding anniversary. because my parents are investing in Gold so I learned this habit from them however I have to admit that whatever I invested in Gold is still with me and I never sold off anything till now. The major part of my investment has been in Gold till now but now I am considering the to have some percentage to put in digital money that's known as cryptocurrency. I have been in the Crypto world for the last year and I understand how it works so so I am considering a few tokens which I will be buying this year. my investment strategy is quite simple that I believe in long term investment and whatever I will invest will at least be for 5 years or so because I think returns are usually so so good when we give enough time to grow it.
There are many options for investment like the stock market, mutual funds, bank deposits, gold, and cryptocurrencies, etc and my portfolio is only in Gold. I am moving to New age investment format and I think cryptocurrency is certainly a good option to go for. Working here for more than a year made me understand that its volatile but if the long term chosen then risk gets reduced and it can be sold when the price is high. I have seen Bitcoin and many altcoins that have given amazing returns within 6 months or year which for banks will take a very long time. More risk and more gain- this is what I started believing in and will take some risk to see how it works.