POSTED BY June 3, 2013 12:38 pm COMMENTS (5)ON
Hi, I have recently become financially aware and started taking actions mainly due to this site and their books. Previously, I had been under the impression that investing money in any instrument having a remote connection to the market was a risky thing to do not unlike gambling. Fortunately I am out of of that mindset now.
But recently I had also been going over some interesting finance related documentaries (like this one http://www.youtube.com/watch?v=4ECi6WJpbzE talking about the next big bubble) and I was thinking of a hypothetical but not impossible situation, where the Indian/World economy goes into a deep recession in the future. Would we have been better off, if we had just kept all our savings in liquid, properties or valuables form in such situation? The only governmental safety net I could find for India was that bank deposits upto 1 lac is guaranteed by DICGC.
I understand that a deep recession or financial crash is a hopeless situation and a much wider topic than what can be answered easily on a forum, but still it would be good to know if there are some things we can plan for in such situations too..