BANKS: SAFE HOUSE OR TARGETS?

After all the threats such as Ransomware, the Malware attack on RBI  or attacks due to certain loopholes, the question that comes to mind is that  “Is my money safe ?”.

We all try to save and invest our hard earned income into the safest place on the planet. It could be in the form of a mutual fund, FD, RD, commodities, equities, or just a savings account, and even for that, we choose the most reliable trading platform.

Still, there are certain threats which keep us restless. Recently, the cyber-crime has gone up with exponential rate and the same or even worse may happen in the future. So, the question is “What should we do?”

We have answer to all your questions and concerns in this article

“IS MY MONEY SAFE?”

The answer to this question lies with you only. It depends on you whether you have put your money in a nationalized bank, a reputed company, a chit fund or a local company. The nationalized banks and reputed companies always have one of the best securities available as they are not only managing or safeguarding your assets but assets worth billions of rupees belonging to millions of customers.

These entities have the best software technologies available to keep the systems up and running 24X7 in the most secure way possible. Their firewalls are not easy to breach. Their vaults are not easy to crack. On top of that, they have the best asset managers and most experienced people working for them ensuring the customers the best solutions for investments with maximum returns.

“STILL: WHAT SHOULD WE DO?”

This question is not easy to answer but not so difficult either. Its answer varies from person to person as some people invests for ‘high risks and high returns’, some go for ‘moderate risks and moderate returns’ while on the other hand, some prefer ‘very low risk and low returns’. But, there are some things which everybody should follow:

  • Always look for the reputed companies to invest.
  • Compare the returns offered by multiple companies.
  • Don’t fall for the fancy offers and schemes provided.
  • Invest according to your expenses.
  • Investment to savings ratio should be smartly managed.
  • Look for secured and long-term investments.
  • Explore and understand multiple options before you invest.

 

Now, there is a very interesting point stated above i.e. Investment to savings ratio should be smartly managed. This means that you should never put all your income into the investment as sometimes it may not yield well. So there should be some part of income dedicated to savings as well.

 According to me, following is the most appropriate ratio for investment to savings

formula

We have age on our side and more power and energy. But as we grow old, we look for more secure and peaceful solutions. So, we should smartly manage the ratio between two.

So, if we invest smartly and securely by researching and giving time for our money to grow, we can always do well in this opportunity-filled market. The smarter we are today, more is the chance for us having a sunbath on a beach with a Mojito in hand post-retirement as alcohol is injurious to heath.

Invest Smart, Stay peaceful and live happily.

 

Post Author: Anmol Garg

2 thoughts on “BANKS: SAFE HOUSE OR TARGETS?

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