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Q.

I want to invest Rs.70,000 in gold. what should I do? I have just started my career as an Army Officer. I want some advice from you in planning the money. If I keep money in hand, I tend to poof it off very fast. My monthly income is around Rs.28-29,000. I am just a begginer and dont know much about these things. My age is 23.

Asked by Rahul, 09 Jan '09 05:43 pm
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Answers (6)

1.

Best thing is to diversify and invest in all good options including PPF and Bank deposits. Gold is also one of the best form of long term investment. We can not predict the price movement of Gold, so never invest in just one thing. Checkout www.put-options.info for clear ideas.
Answered by rajarao, 09 Jan '09 06:51 pm

 
  
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2.

First go in for fixed deposidslike ppf, saveing bonds and then life insurance the best way for you should be to go in for LIC on whole life term with limited payments withprofit which any good agent will explain to you-- this will help ypu in tax planning as well as be an asset of long term whic you cannot just spend.
Answered by desa ru, 09 Jan '09 06:28 pm

 
  
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3.

Invest some amount in gold and take out an insurance policy of LIC mostly Jivan Anand
Answered by hemswarna kotkar, 09 Jan '09 06:24 pm

 
  
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4.

U can invest in secure Mutual funds..NAV is allready down..so u can get tax benefit as well as the investment.
Answered by chandra prakash sharma, 09 Jan '09 06:23 pm

 
  
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5.

Gold is a very good investment strategy however it only beats inflation marginally thus returns over a period wont sustain your goals. Since you are an Army Officer you come under various tax breaks & concessions you should utilise to the fullest. I would suggest firstly defining your goals in life such as marriage costs, kids education, house, etc etc. After army life your income will shorten but life goes on expenses continue to rise at this point what shall you do? You can't just drop dead can you? After finalising these goals invest towards achieving them. Short term in liquid funds while more long term larger ones in agressive growing avenes would be advised as the risk return trade off is greater in the long term. If this confuses you too much & you would like a professional to handle it get in touch with a Certified Financial Planner. These are professional people who are committed to see you achieve your goals. You can get more information on CFP on srefp.in. It also i ...more
Answered by Zahir Kachwalla, 09 Jan '09 06:22 pm

 
  
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6.

Put the money in gold bonds
Answered by Damodar Biswal, 09 Jan '09 05:44 pm

 
  
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