The traditional norms made us believe that savings are a safe option to store your wealth.
But is it true now?
With inflation, we all know that the prices of the wealth we have kept in our savings account will decrease. What is the use of saving when ultimately we are not even able to enjoy what we have been saving for years?
The smarter option?
Investment! Investment is not gambling if done rightly. Very often we see people not putting too much effort into learning and jumping into FOMO. They dont have enough guidance that will help them to invest better.
I have heard this many times, but the problem is whether we can afford to invest, because not everyone has the knowledge to avoid losing money when investing. Saving is still a safe way if you have a high salary, you can save in a bank and earn interest, instead of risking it with other types of assets.
To avoid risks study the different types of assets as an investment. Invest only on the instrument you know especially on paper assets like stocks bonds etc. Also, identify your risk appetite so that you will know what types of investment suitable for you. Be it in Equity Fund, Balanced Fund, or Bonds.