8 ways to protect your wealth and grow it.
May you live in interesting times’ is rumoured to be a Chinese curse. Whether or not it is, no one would disagree we live in such times. Consider the events that lead us to 2017—Britain voting to leave the European Union, Donald Trump taking over as President of the United States, repeated terrorist attacks across the world and, at home, demonetization and a slowing economy. All this leaves us with a gnawing sense of uncertainty. What next, we think with trepidation. And, is my money safe?
Should you clutch your treasure chest waiting for the tide to turn, then? “Risk and returns are two sides of the same coin,” says Gaurav Mashruwala, Mumbai-based certified financial planner and author of Yogic Wealth. “Inflation, taxes, government policies, geo-political situations and economic cycles affect all investments. The day you part with your money, you have taken a risk. This does not mean you should not invest. In fact, not investing is a risk in itself. But an understanding of risk will help you protect your wealth and generate higher returns,” he says.
So, take heart, dig in your heels and heed the advice of these financial planners. Here are eight ways to protect your wealth and grow it.
Don’t Just Let It Sit There
This story is from the February 2017 edition of Reader's Digest India.
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This story is from the February 2017 edition of Reader's Digest India.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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