1. Rakesh Jhunjhunwala’s investment mantra: Young people should buy a house; jewellery should be the last thing to purchase

Rakesh Jhunjhunwala’s investment mantra: Young people should buy a house; jewellery should be the last thing to purchase

Rakesh Jhunjhunwala is of the view that jewellery is the last thing that should be there on your 'Things to Buy' list!

By: | Updated: November 25, 2016 5:49 PM
Rakesh Jhunjhunwala, Rakesh Jhunjhunwala stocks, Rakesh Jhunjhunwala Indian markets, Rakesh Jhunjhunwala gold Rakesh Jhunjhunwala advises focus on buying a house.

Rakesh Jhunjhunwala is of the view that jewellery is the last thing that should be there on your ‘Things to Buy’ list! In an interview with ET Now, Jhunjhunwala advises focus on buying a house. “One advise I will give to every young Indian is that the most difficult thing in urban India is housing. So, the first thing that you should do is try and buy a house. That gives a great sense of security,” he says. “…and although I am a shareholder in Tanishq, jewellery should be the last thing you buy. You must not only be investing in jewellery,” he says when asked for his investment tips.

Jhunjhunwala also feels that people should seek professional advise when investing for the future. “People seek advise from me thinking that it will help make them very rich. I always say take professional advise. If I have fever, I take a Crocin, but my mom and wife call a doctor for themselves. Similarly, for investing you should take professional advice and plan,” he says. “Don’t be a spend thrift, don’t be a kanjoos (miser). Strike a balance between the present and the future,” is another mantra that Jhunjhunwala believes in.

Also read: Dhanteras and Diwali approaching, treat gold buying as SIP investments

Earlier this month, Rakesh Jhunjhunwala told CNBC-TV 18 that he has committed to donate 25% of portfolio or Rs 5,000 crore, whichever is less, on July 5, 2021. Incidentally, that’s the date on which Jhunjhunwala turns 60. “I don’t want to lecture anybody, I would only say this to my fellow people would be to give, however small. Give what your pocket permits. I don’t think a person who is giving Rs 10, is giving less than me,” he had said. “Today the biggest worry for me is not that how much wealth I will earn tomorrow, the biggest worry is that I have to fulfill this commitment of Rs 5,000 crore to create an organisation that will be able to use this money in a way that can really make a difference to the society,” he added.

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