hear the news
Expansion
Today India is the sixth largest economic power in the world and the eyes of the whole world are on India’s economic growth. Today, when one tenth of the country’s population earns more than 2.5 to 3 lakh rupees annually, it is very important for us to know where and how to invest our saved money properly. That will make life easier for you and your family. We are often worried about the right investment of our money. We also have many questions related to investing money in the stock market in our mind. We spoke to economic advisor and social media star Pranjal Kamra on the forum of Success Talks to get answers to questions related to financial investment.
Who is Pranjal Kamra
The name of 29-year-old Pranjal Kamra, coming from Raipur, Chhattisgarh, is included in some of the biggest economic advisors in the country today. Pranjal also runs a YouTube channel on which more than 40 lakh people follow him. Through this channel Pranjal Kamra tells people about stock market and right investment of money. Pranjal also runs his own company by the name of Finology Ventures Limited, whose job is to provide financial advice to the people.
During our conversation with him, we not only got to know about investing money and things related to it, but also about his journey and experiences so far. You can read some of the very important things that he told below.
Started earning money from the age of ten, decided not to do a job in life
Pranjal told that when he was ten years old he used to cycle twenty miles away from his city to Bhilai with his friend and sell comics to the children of the towns there. “When I was able to earn money at the age of ten, I was filled with confidence and I decided never to work for the rest of my life,” he said. After that, he later started studying law, but due to not being able to create interest in it, he left that degree incomplete and started studying about the stock market and decided to make his career in it.
Not having plan B is beneficial
Pranjal told that today he has more than 4 million subscribers on YouTube, but when he started making videos, he made a total of 60 videos in the first eight months but did not get success and due to lack of plan B, he kept making videos continuously. He said, “I made videos continuously for eight months but no one was watching them, because I didn’t have a plan B, I kept making videos but if I was doing a job at that time, I would have stopped after two months. I think It is that by not having a plan B, we can concentrate our full attention on some work and can be successful. The same happens in investing. You can make more profits by investing in one place for a long time by not investing in different places. can earn.
Get the interest earned on the money in the savings account doubled from the bank, do not invest in FD
Pranjal Kamra told about a very important thing for all the people of the financially middle class. He told that there is a facility called outsweep in the bank, on which you can get double the interest you get on your money deposited in the savings account. “Banks usually give 2.5 per cent interest on your money deposited in savings account but you can get it up to 5 per cent once you start outsweep,” he said. He also advised not to invest money in fixed deposits ie FDs for a long time. He said, “Before investing your money, you must match the rate of interest on it with the rate of inflation. India’s inflation rate is around 6 percent, you should keep in mind that if you invest, you can get a profit of 9 percent. If yes, then nothing can be better than this. In fixed deposits, this rate is around 5 percent and it only hurts you, so do not keep your money in fixed deposits for a long time but invest it in mutual funds.
You can watch this conversation on SuccessTalks YouTube channel from this link.