‘Build assets that appreciate over time’

Trichy: Insisting on post-tax savings for salaried people and professionals, Sharan Kumar Shetty, head, ideator and financial advisor of Capital Advisors, a start-up company, said that savings alone does not build wealth. He encouraged savings to build assets like equities and bonds which can appreciate over a period of time. He was speaking at a webinar on capital market awareness organised on Sunday by department of commerce and financial studies, Bharathidasan University, in association with Bombay Stock Exchange Limited.

Shetty, who is also an associate professor of international finance and banking at MSN Institute of Management, Mangaluru, asked people to get financial freedom by getting out of the circle of earning and spending. “Money management starts with switching from ‘we work for money’ to ‘money should work for us’,” he said.

On the precautions to be taken while investing in the stock market, he asked investors to deal with only registered brokers and sub-brokers. Receive contract notes from brokers and do not be misled by market rumours, he added. He asked investors to issue an account payee cheque/ demand draft in the name of their respective broker only, as it appears on the contract note.