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Let鈥檚 be honest - we all try to buy policies which help in tax savings but often we end up taking advice from our near and dear ones. The reason is simple - they are the people we know and we can trust. But Authentic Jim Brown Jersey , is it the best way of going forward if we really want to make smart decisions?

At EPFP catalyst, we come across a lot of people who have been making bad policy and investment decisions for a long time. Most of the time they are fooled by brokers and agents, and a lot of them also become victims of haphazard investments because of trusting their relatives or friends.


It is human nature to trust the opinion of someone we know even when that person is not a professional in that particular field. However, when it comes to financial decisions, it might lead to problems which take long to rectify. During one of our free consultation sessions Authentic Zane Gonzalez Jersey , we were approached by a person who told us that heshe had bought different policies over the years on the insistence of their relatives.


The person was visibly stressed because of the problems heshe was facing in managing the policies and the lack of information about different aspects of it. Heshe confided in us that they felt cheated and wanted to take corrective measures.


Relatives and friends are supportive, and it is mostly true that they want to help us but because they are not experts, it is inevitable that they make a mistake. That鈥檚 why when you are approached by a friend or a relative who try to convince you for buying an investment plan, always do thorough research on it.


At the end of the day, it is your hard-earned money and you should invest it in the best assets. You can ask for some time to think about it and then talk to an expert about it Authentic Howard Wilson Jersey , or you can also make use of the internet and learn about the pros and cons of the investment plan. Either way, you will definitely have some understanding of the product before you take the investment decision.


If you are not convinced about it, you always have the option of saying no. Remember - it is your money and you should not invest it in any product which you are not entirely convinced about. Now, coming to a more important point. This problem mostly stems from the fact that a lot of people today are not financially literate, which means they do not have the required knowledge to be able to make the right investment decisions.


Therefore Authentic Antonio Callaway Jersey , it is always advised that you gain the financial knowledge and learn to invest yourself. This is a necessary 21st century skill and you should not be relying on others鈥?opinion to make your decisions. Lastly, if you have already invested in some products because of coercion, contact us for expert advice.


鈥?br > I only invest in FDs, at least I don鈥檛 lose my money


Investing in Fixed Deposits is unarguably a smart decision - you get a steady return on your investment and your money is always safe as it is not affected by market changes. While investing in FDs is a smart decision, putting all your money in FDs only might not be a wise choice.
The first and most important reason for this is that the rate of return on Fixed Deposits has been declining continuously and today stands somewhere between 6 percent to 7 percent. If we compare this rate of return with the expected inflation rate Authentic Chad Thomas Jersey , then you will find out that FDs are not really helping you in a big way.


At the same time, if you choose a normal Fixed Deposit, you are not going to get any tax exemption. There are tax-saving FDs too but then they have a lock-in period of at least five years. So, if you are willing to lock your money for five years then why not increase your rate of return by taking a little risk?


It is true that investing in FDs will help you keep your ship afloat but dividing your money and investing in different products can also help you in getting an extra return. For example, there are a number of options that are readily available like SIPs Authentic Austin Corbett Jersey , mutual funds, insurance plans, PF, PPF, etc.


The market-based investment plans also come in three different categories with a low Authentic Larry Ogunjobi Jersey , moderate, and high risk factor. Even if you choose a low-risk investment product, the rate of return is expected to be slightly more than that on Fixed Deposits. If you follow an expert鈥檚 advice while investing or prepare yourself to make sensible investment decisions then the chances of incurring any losses become negligible.


Therefore, it is imperative that you try different financial products to save your taxes, get insurance and also multiply your wealth. As mentioned above Authentic David Njoku Jersey , the rate of return on FD with the growing inflation rate can only keep your money safe but might not be very helpful in funding your dreams of buying a new car, house, or paying your child鈥檚 college fee.


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