FitRichSane

2021-05-26 15:30:10 Which is the best way to invest in gold online?

There are at least 6 ways to buy gold in India.
• You can buy physical gold in the form of
o Jewellery,
 Risk of theft
 cost of storage, and
 making charges make it an unattractive option for investment
o Bars and
o Coins that reduce making charges as no craftsmanship is involved
o Buying physical gold has a relatively high entry barrier
Buying physical gold has always had an emotional factor associated with it. It has traditionally been a matter of pride. Unfortunately, this comes at a cost.
If you want to purchase gold for consumption, you should always go for whatever you will enjoy most.
If you are looking at it from the point of view of an investment, you must consider all factors related to it.
Buying jewellery as an investment can prove to be very costly if you ever go sell it.
Advantages of investing in gold online:
• No extra charges for storing in a bank locker
• No worries about security
• No anxiety about purity
• No minimum amount
• Highly liquid
Ways to invest in gold online:
• Digital gold
o The issuing company issues physical gold in your name, but you don’t get physical possession
o You can exchange it for physical gold anytime
o No minimum investment
o One of the most trusted names is MMTC
• Gold ETF
o Traded like a stock on the stock exchange
o You need a Demat account to invest in an ETF
o You pay small brokerage charges, depending on your broker
o Very small minimum investment amount
• Gold mutual funds
o One of the biggest advantages is that you get the option to create an automated SIP
o The minimum amount is very low
o The AMC charges a fee to manage funds
• Gold sovereign bond
o Issued by RBI
o In addition to the potential increase in price of gold, you get an interest of 2.5% per annum
o You can purchase a minimum of 1g gold, and a maximum of 4kg
o The tenor of the scheme is 8 years, with exit options starting after 5
o You can invest in a GSB from a Post office, a few banks, or from your demat account. Whenever a new issue of SGB is released, you will get the option to invest in it on your bank’s netbanking and demat accounts. This is called purchasing from the primary market
o Approximately 2 weeks after launch, these SGBs start trading on NSE. Then, you can purchase these like any other stocks or ETFs from your demat account
• Gold monetisation scheme
• Not a way to purchase gold
• It is a government scheme that allows you to earn interest on gold already owned by you
• You have to deposit a minimum of 30g
• You earn an interest between 2 and 2.5% depending on your tenure
• The tenure can be between 3 and 12 years long Open / Comment

2021-05-26 09:30:10 When should I buy gold? Should I buy gold?


First of all, decide if you want to buy gold for consumption (jewellery) or for investment (coins, biscuits, SGBs).
The thing is, you can buy it anytime for either purpose. Part of the reason is that you rarely invest in gold for the short term.
• If you are buying jewellery, it’s for your consumption, not for investment. Buy it anytime.
• If you are buying it for investment, it’s best use in your portfolio is to hedge against crashes in other investments.
While gold is considered to be a hedge against fall in other assets, minor corrections can never be ruled out. It will never increase in a straight line.
In short, if you don’t have any gold in your portfolio, anytime is a good time to buy it. If you do, don’t go overboard trying to get short-term profits. Open / Comment

2021-05-25 15:30:09 Psychology rule #4

Those actors, sports-persons, and even social media influencers charging bombs for giving very little are not doing anything wrong.
Till you keep cribbing and criticizing people who are earning well, how will your mind allow you to earn the same way yourself?

The only way to earn is to provide value. You provide value to your employer because of which they give you a salary. Your maid provides value to you. An artist can provide value to you, and so can a car showroom. And that is why you pay them.

These actors etc. provide huge value to the people paying them. Whether this value was earned by sheer hard-work , or from their families is immaterial at this point. The FACT is that they provide value today.


Stop worrying about why someone else is earning a lot, congratulate them instead. Open your mind to the possibility that huge money can be made by you.

And then, think about how you can provide enough value to earn that much Open / Comment

2021-05-25 12:30:09 Psychology rule #3

When I invest in equity, I don't decide the investment time-frame. The market does it for me. I cannot, just cannot invest with the thought that I will redeem in x weeks. Nobody knows what your investment will be doing in a few weeks. The only (almost) assurance is that in the long run, sooner or later, your investment will do very well if you have invested in excellent companies / Nifty.

Forget about time-frames. Look for awesome investments Open / Comment

2021-05-25 09:30:09 Psychology rule #2

When someone asks you why you invest, the only genuine answer is, "because I want to".
Every other logic can be argued against, and you don't want to argue with fools who don't feel the need to grow their money.
I am investing for my retirement -> who thinks about a target so far away
I am investing for a vacation -> you can easily take a personal loan
I am investing for a better life -> Money doesn't lead to a better life


Stop arguing with these people, and if possible, stay away from them. You can never win, and you are on the right path if you are investing as much as you can Open / Comment

2021-05-25 06:30:03 As often discussed, the most important thing to take care of while investing is your psychology.


Psychology rule #1

When I invest a large part of my income, in the best case I will get stellar returns. In the worst case, I will still have a large amount of money with me.
FACT is, had you not invested it, you would have spent it. Seeing it in your savings bank account day in and day out would have led you to think of things you "need" to buy.
So even if the investment does not work well, you still have a large corpus, which will give you a lot of peace Open / Comment

2021-05-24 15:30:04 Define rich

I believe that a person who has enough to attain all their goals is rich. Your definition might be different. Come up with your definition of “rich” first.

If you don’t know your aim, you will never reach it. Open / Comment

2021-05-24 12:30:09 Something everyone should know:


In 2008, Warren Buffett challenged all hedge fund managers to perform better than the index.
He felt that the performance of these funds did not justify their charges.
It was a $1 million bet.
Buffett won. Open / Comment

2021-05-24 09:30:09 With all this talk about starting early and compounding wealth, people even in late 20s start feeling that they have missed the bus.
This message is for people in their 40s who are worried about not having saved a lot till now. Fret not! Always make the best use of what you have.
I did not start early. Is my life over now?
I am sure you must have heard and read about too many examples of people who have done it. In fact, many examples of people who started after reaching the age 60 years. These people have proven that age is just a number.
In fact, I have an acquaintance who lost his life savings at the age of 49 because of his wife’s illness. He retired comfortably at 62 years of age :).
If you are in a job, and are looking for steps to take apart from that, consider freelancing and investing.
If you want to start a business or if you want to focus full-time on freelancing, it depends on what field(s) you have spent the last 20-25 years in.
I know answers with direct ways to earn money look more appealing. But what suits me might not suit you. You have to explore you own ways. These mindsets are in fact, more important than any other one thing.
Change the way you think about spending and saving
Try to understand the power of investing small amounts. You are reducing your time to retirement with each rupee you save


Think about it this way: You have more experience than many other fresh starters.
All other business/ wealth/ finance advice remains similar irrespective of age.
The most important thing is that you are now taking an active interest in earning money. Keep up this spirit of learning and taking action, and you shall get there. Open / Comment

2021-05-23 15:30:03 Open / Comment