Consumer Guidance Society of India (CGSI) in association with Saturday Club Global Trust Dadar Chapter organized a seminar on ‘How to Manage Money and be a Smart Investor’ at Nagarik Sangh Hall, Shivaji Park.
“Majority of us are financial illiterates as far as investments are concerned. It is very important for us to have proper knowledge to invest in proper schemes,” said Dr. M. S. Kamath, Hon Secretary, CGSI in his introductory speech.
Ranjan Varma, CFP and Founder, Rupee Manager said learning how not to lose money is the first step towards investing. “An investor should understand the power of compounding. If one is investing for a longer period, investing in equity is a better option than investing in debt,” said Mr. Varma.
Prafull Pawar, CFP and Investment Advisor spoke about the basics one needs to know before investing. “Decide the needs before investing, Benefit from power of compounding, plan for long term savings, start saving early and regularly, Maintain an adequate cash reserve, have an appropriate insurance cover, use asset allocation strategy” Mr. Pawar explained.
The event was attended by a packed audience of investors from different walks of life.