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Diwali, the Festival of Lights, is also a time for beginnings. Business ventures are started, last year's books are closed and investments are made.
This Diwali, on this special edition of Portfolio, we visit a family in Mumbai and speak to three generations to understand how they approach investments.
PL Parikh will be 93 years old in December. For him, Diwali today is exactly what it was when he was growing up—a time to spend with family. He puts a great deal of trust in gold, saying it's the ultimate protector of wealth.
Nikhil Parikh, the second of PL Parikh's three sons, is an entrepreneur and an active investor in the stock market. He doesn't invest much in gold, preferring instead to trust in the growth story of corporate India. He's holding on to long-term investments in blue-chip companies despite the ongoing volatility in the equity market. He's looking forward to the new year with optimism, believing his business will do even better.
The millennial in the room is Pratik Modi, who at 23, works for a brokerage firm. Pratik is more careful than most people his age when it comes to investments, which he attributes to his role at his workplace.
Certified Financial Planner Arvind Rao, founder of Arvind Rao & Associates, weighs in on the rule of thumb each generation should follow, to ensure their investments grow in the new Samvat.
Watch the full episode here:
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