There are a lot individuals and companies making money by making money or seemingly attempting to make money for other people.
This reminds me of a very old saying " Fool and his money are soon separated."
Then where does that leave us in the complex maze of financial world today.
With the goverment offered hi interest products being out of the market since last 7-8 years, today one has to fend for oneself.
I have spent past 23 years getting the jist of this maze and trying to get to the other end of the entangled thread (the cliche'that I will use very often on this blog), after all providing the means to one's family is the first step to being holistic.
If you are a well versed individual who has made a big buck in the field of stocks- THEN THIS POST IS FOR YOU.
If you are a recluse, happy contented person with the savings in a nice FD with a nationalised bank -THEN THIS POST IS FOR YOU.
If you are a rational person trying to make modest returns on your hard earned money and also provide for your age old pension-THEN THIS POST IS FOR YOU.
I ENUMERATED MY REQUIREMENTS AS FOLLOWS:
1. The process of savings must be simple and assured by the law of the land.
2. The savings must be able to be build slowly and steadily in form of a SINGLE corpus, so that you can account for HOW much money you put WHEN and how much is it worth NOW.
3. You should be able to save as much as you HAVE, or want to without any commitment or penalty.
4. You should be able to withdraw AS MUCH as you NEED, WHEN you like- in the easiest and safest possible way- with least possible running around. With NO TDS or penaalty.
5. Your savings must be able to grow MORE than the inflation and in keeping with the times ( I should not be disadvantaged in the sunset years of my life with having saved less than my requirements).
6. You should be able to get the flexibility to terminate or switch the savings if the return in future do not give you expected return.
7. You should be able to put any windfall gains into the same channel of your savings that you have been following.
8. In case of being an NRI you should be able to invest on a REPATRIABLE basis.
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What I feel is the corpus should be a mixture of different types of Investment. Let the corpus be "x" then at a resonable interest of 8%pa the interest you get should be double your annual spending for the year. This way you will have sufficient income for your day to day activities and 50% for further investments to take care of inflations etc.
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