Few days back I wrote about how I desire my Retirement plan. A retirement plan means a robust financial saving plan that would take care of my needs even 20 to 25 years down the line considering the high rising inflation. When we invest our money into any financial schemes, we look for many factors and the most important being security and stability in the investments that we make. We do not want to lose our money by investing in ponzi schemes. When I started my crypto investments, I would get carried away with many ponzi schemes who were assuring very high returns in a short span of time. Thankfully my hubby would keep the strings pulled for me.
There are some factors that I look at while making my investments to ensure that my hard-earned money is safe and giving me good returns to ensure a safe and secured future, keeping in mind all the economic turbulence.
The most important I would look at it is the rate of interest that I am getting on my investments. The bank fixed deposit interest rates are very low, during the pandemic they dropped to 5% and now they are at 6% on the highest side, but that's not even taking care of the rising inflation in any way, so it's not a very lucrative investment scheme. In terms of security these days even the banks are not very safe. I would rather look at investing in Cryptos and Mutual Funds good schemes. If I have to talk about Crypto, then now my belief is to only invest in the few good coins and not get lured by the many other offers that just keep coming. My safe bets are BTC, ETH, Hive and Cardano. I would not want to invest in any other coin as of now. In future if I have some excess money then I may gamble up a bit.
The other thing that I would look at it is Tax efficacy. My belief that Taxation is nothing but theft and we need to prevent ourself from that theft by finding out ways and means to keeping our investments in a way which gives many Tax benefits. Like the mutual fund, where after a certain period of time of investment the Tax liability becomes zero. Crypto has huge taxes on them, but then the earning is also bigger there, so even after paying up the Tax your earnings would be much higher than any other investments so that would not hurt me.
Another important thing that I would look at during my investments is that I can easily withdraw my corpus in any emergency situations. This is very important, as we get old there are many risk factors attached to us so the fund that we have should be easily available at any given time of need and not that we need to struggle for it. Our investment has to keep growing with time and not depreciate this is an important thing to look at.
These are some of the factors that I look at in my diversified investment plan. What are the other important criteria that you think one should include in this?
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