My parents want me to invest in chit funds

[theswimboy]

@simanjuntak Invest in mutual funds your fund value would reach so much value as to compensate for the series below

Invest in chitfund -> mayb profit mayb loss -> let's consider loss for 90% of the time-> Loose money -> get some sense that this was not worth your time

BETTER SERIES

Invest in mutual funds - go with sip mode - keep yourself invested for 5 years at least . Take out the money with profits in eat in other funds or keep urself invested

This works out better if you go with step up sip i.e. increase ur investment by 5-10%

Also lock some funds in FD for emergency
Rd for short term goals like vacations, etc

 

[vrayos]

@simanjuntak See always do your fund diversify ....
You should invest also equity, mf ,bonds... But first learn all about things... Then invest...
Because not all stocks are good not Mutual fund not even bonds...so first learn these things

 

[medbeel]

@simanjuntak Also learn to lie. Do not tell your parents correct salary. Also they will divide ctc by 12 and compute monthly income which is never the case.

 

[mike_l]

@simanjuntak Please update us after few years in case you lose money and want to rant

 

[simanjuntak]

@mike_l Ha

 

[eaglescout88]

@simanjuntak DO NOT put money into Chit Funds.

Even fixed deposit in banks are safer than this.

It is YOUR MONEY, YOUR DECISION.

Mutual Funds SIP is probably a better option, as the SIP means you will invest in downturns too to catch up and average.