How to get rich fast? Is this the biggest question on your mind right now? Well, getting rich fast may not be possible. But getting rich smartly, certainly is. All you need to do is some ‘naaptol’ or, using a more sophisticated term, research. Unless you get a cash windfall, it is a common knowledge that you need to invest money to earn money. How to go about it is the question that perturbs everyone. You can take a cue from a statement Trivago India ‘guy’ Abhinav Kumar made today. You must have seen this popular man on TV, on your laptop or smartphone hundreds of times.
Talking to a TV channel at an event in Ranchi today, Kumar was sharing how he was first attracted to Trivago – a german MNC which offers online hotel search engine across over 56 countries. It provides price comparison of accommodation offers provided by several online booking site.
Kumar was approached by the German company. He was attracted to the idea of price comparison and deemed it a success. "This is what we do in India all the time. We compare prices of items at several places before making the purchase," Kumar said at the event. While investing also, you need to be smart, do a lot of comparisons and research on expected returns, or even take the advice of experts, to pick the best product.
The onus of picking an investment product is on the investor. There are expert advisors and online resources which can give you some idea. But the final decision, and the result of it later on, depends on the investor.
SEBI-registered tax and investment expert Jitendra Solanki recently told FE Online that one shouldn’t take news-based decisions. It is important to understand the nature of the market. In case you can’t understand on your own, Solanki thinks it is good to take advice of an investment expert.
Before making any investment, one should first understand how it will work. There are several online platforms, as well as fund managers, which offer investment advice. But, Solanki, said every platform has a way of doing research. They just offer suggestions, not decisions. You should accept such suggestions only after applying your knowledge.