The 'golden' rule to increase your financial quotient
As the festive season prompts many to consider their financial goals and investments, Deepak Shenoy's advice serves as a reminder that financial decisions can also be driven by personal satisfaction and enjoyment, not just for the pursuit of returns.
Have you ever said? "If everything goes down, we will at least have the gold."
Deepak Shenoy, Founder and CEO of Capitalmind says gold tends to be an asset class that people like as a whole and often consider it an insurance against inflation but his view is slightly differently.
"It is like buying an expensive car. When you buy one of those cars, you are going to enjoy driving it. You are not going to think of it as - when I sell it, somebody will pay me more than what I bought for it. It is for enjoyment, and gold can be that,” Shenoy said, in a recent episode of Financial Quotient, a CNBC-TV18 series focusing on Women and Money.
Shenoy believes gold should not be seen merely as an investment but a source of pleasure and enjoyment in ownership.
In a financial landscape often dominated by discussions about returns and yields, Shenoy's perspective offers a take on the emotional and experiential aspects of financial decisions. He encourages individuals to appreciate the aesthetic and emotional value of gold.
Though Shenoy acknowledges the traditional perception of gold being a safe-haven asset, he suggests a shift in mindset and advises people to embrace the joy of ownership rather than viewing it solely through the lens of potential financial gains.
Vishnu Bhat, Managing Director of Bhima Gold believes, Jewellery is not something that one buys from the investment purpose but it is something that enhances one’s personality.
“The design and the effort that goes into making a piece and the metal itself gives you a certain energy and a certain vibration which makes you feel overall better, and hence more fashionable,” he said.
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