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Savings are not investments

DOWNLOAD PDF Financial happiness is the right of everyone who works hard to earn a living, and today, by making some good choices, is within the reach of every such Indian. As far as money matters go, there are two kind of people -- those who seem to be always confident of their knowledge, and those who are never confident. It should be possible for people to move from the second category to the first, but this rarely happens. This is a problem that ends up having a big impact on people’s lives. If your savings earn less than they could, or are riskier than they need to be, they may not help accomplish your financial goals, be it your children’s education or your retirement. However, there is no NEED for this to happen. As someone who has been in the savings and investment industry for 26 years, I will be the first to admit that on the whole, savings and investment concepts should be much simpler than they are. This magazine is part of a regular effort on the part of Aditya Birla Sun Life Mutual Fund to make financial decision-making simple, easy and correct. Perhaps the most important first step in doing this is to make sure that we do things in the correct order of importance. For example, it would be wise to make arrangements for emergency funds to meet any sudden problems before anything else. After that, one should focus on life insurance to handle dire contingencies. Only after these basic needs are taken care of can one think of long-term investments for future needs. If we do these things in the correct order, we can face any problems that come up, and still save and invest adequately for the future. In this issue of Samriddhi, we have a simple and easy to understand article that explains these concepts and what one should do. We also have a number of other articles with knowledge and guidance that will help you become a better saver and investor. I hope that during your journey, you will take out some time and read this magazine to make your financial journey more productive. -- A BALASUBRAMANIAN CEO, Aditya Birla Sun Life AMC Ltd.

Financial happiness is the right of everyone who works hard to earn a living, and today, by making some good choices, is within the reach of every such Indian. As far as money matters go, there are two kind of people -- those who seem to be always confident of their knowledge, and those who are never confident. It should be possible for people to move from the second category to the first, but this rarely happens. This is a problem that ends up having a big impact on people’s lives. If your savings earn less than they could, or are riskier than they need to be, they may not help accomplish your financial goals, be it your children’s education or your retirement. However, there is no NEED for this to happen. As someone who has been in the savings and investment industry for 26 years, I will be the first to admit that on the whole, savings and investment concepts should be much simpler than they are. This magazine is part of a regular effort on the part of Aditya Birla Sun Life Mutual Fund to make financial decision-making simple, easy and correct. Perhaps the most important first step in doing this is to make sure that we do things in the correct order of importance. For example, it would be wise to make arrangements for emergency funds to meet any sudden problems before anything else. After that, one should focus on life insurance to handle dire contingencies. Only after these basic needs are taken care of can one think of long-term investments for future needs. If we do these things in the correct order, we can face any problems that come up, and still save and invest adequately for the future. In this issue of Samriddhi, we have a simple and easy to understand article that explains these concepts and what one should do. We also have a number of other articles with knowledge and guidance that will help you become a better saver and investor. I hope that during your journey, you will take out some time and read this magazine to make your financial journey more productive. -- A BALASUBRAMANIAN CEO, Aditya Birla Sun Life AMC Ltd.

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