Building a strong financial foundation begins with the setting up of your investment routine. Recent worldwide financial crises have highlighted the significance of maintaining a financial safety net. Traditional wisdom frequently emphasizes a balanced approach but in times of economic instability, diversification and better liquidity becomes even more important.
In the last couple of years, the fastest-growing use of smartphones with a unified payment system (UPI) brought a remarkable change in India. Everyone can take advantage of it. Now it does not matter, how better or worse is your current financial situation but you can streamline your investment routine and strategy via ODFC, or any of your favourite digital financial platforms. Before hitting on any investment deal, you can have an ODFC chat @odfchelpdesk or the views of your investment advisor. In the meanwhile, please make sure 3 important points:
✈️ Risk Tolerance:
Imagine investment is like a ride. The most preferred traditional choice like 'Fixed Deposits' is a calmer ride (slower growth), while stocks, mutual funds, forex, and cryptos can be a thrill ride (faster growth, but risky). You can make investment decisions that match your risk profile.
🥝 RoI - Return on Investment:
Shop around! Compare the different funds and investment avenues. At ODFC you can have a ride on new avenues like crypto, and forex including international estate investment, etc.
✅ Lock-in period:
Think about how long you can keep the money invested. Some options like Fixed Deposits lock it away for a while, while others like pension funds are longer. If you need better liquidity that means you need the money in your control, you can go for suitable options.
🎯 P.S. If you investing in international real estate or modern investment options like forex and cryptos, please get a quick check with our FEMA legal experts by emailing 📬 ask@fema.in
Contact 📬
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P.S. - This article was published in a local newspaper in April 2024
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