Topic: “ SAVING IS THE KEY TO WEALTH CREATION ”
Date: 25th September,2021
Speaker: CA Samir Chaudhry
Highlights: CA Samir Chaudhry shared his expert knowledge on various nuances of the topic. He discussed about active sources of income like salary, income from activities of business and profession. He talked about passive sources of income like rental income, dividend etc. As per his opinion the biggest confusion that we face today is – Spend ….. Save …… Invest !!!!! He rightly mentioned that subscribing OTT platform is also spending and Saving is the only surplus left after meeting all obligations. He raised a question – Why should we save money ? Covid has made us realize the importance of saving money. As per his opinion saving ratio should be at least 30% of your income by saving in smaller parts. Suggesting various options of investing, he advised the students to decide their financial goals and save accordingly. Citing the example of Harshad Mehta scam, he told that stock market needs expert knowledge and it’s tough to gain that expertise for a layman. He discussed myths and facts of mutual funds and its best use as a vehicle made to pool the money from small investors and use of market diversification and expert knowledge to gain maximum return.
