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Why should you run?

Eight Most common Money Myths

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In no particular order or priority the 8 common myths I have come across among friends or acquaintances on money:

1. Money is safe in savings account or fixed deposit : The most common and dangerous myth I have ever heard from anyone,  savings account gives you interest of 3-4%( except 3 banks give up to 5-7% ), fixed deposit give you around 9%, post tax it will be 6-7% depending on your tax bracket. If your money is not giving better return than inflation, actually you are losing your money every day. Better you spend that money today than keeping in such instruments resulting lower buying power in future.

2. Investing in stock market is risky : Unfortunately very few people have made money from stock market in last five years, so every one is convinced its not possible to earn money. But in long term this is the only instrument which can beat inflation with highest margin( may be gold or real estate can also beat inflation but very less chance for FD or RD). Its risky If you invest …