Some years ago, a well-known, award-winning screenplay writer visited our writers’ group for a tête-à-tête on writing. At the end of it, I asked him if it was possible to make a living through writing. He just shook his head-full shock of white hair and said, “I also work in advertising.”
In recent times, best-selling author, Ravi Subramanian, continues in his banking career even while producing best-selling novels year after year.
Lately, there has been a spate of articles about the husband’s hefty salary making the wife’s writerly life possible and even easier.
THE ONLY CONSTANT IN LIFE IS CHANGE
If one has a well-paying job or a flourishing business, it is only a matter of harnessing whatever time one has and utilizing it for attaining the writerly dream. But what if you fantasize about throwing up your job (that sucks out your soul, daily) so that you can devote your time and energy to bringing to life all those stories gestating within you? Also, down-sizing and salary reductions are more the norm than the exception these days.
DIG YOUR WELL BEFORE YOU’RE THIRSTY
Wealth generation becomes important in such a scenario. Passive income, the money that comes in from investments, is the key to the freedom of time.
But there can be leaks in the well that could harm the return on your investments.
If you’re a High Net-worth Individual or a Financial Institution, you might not need to worry about it as your hordes of legal counsels would do it for you.
THREE MISTAKES RETAIL INVESTORS MAKE:
- paying too much and often unknowingly for their investments in the form of commissions
- not diversifying the investment optimally and
- a portfolio that does not support their risk preferences/goals.
Smart investing advice, then becomes the decider between creating wealth or just making money, from one’s investments.
Yes, yes, I know. We are writers and all that financial jargon can make some of us go all glaze-eyed.
I was lucky, a few years ago, to meet a financial advisor who suggested some amazing mutual funds to invest in which gave me good returns but sadly he left the company he was working for and joined another industry. I could have made the same investing decisions if I had studied the mutual funds and their performance, etc. But then, I’d rather be doing what I do best and love most: yes, writing.
TRUST-WORTHY INVESTMENT ADVICE
I’d leave these decisions to trust-worthy professionals:
ORO Wealth is an online investment platform which is pioneering a new, honest approach to wealth management for retail investors.
ORO Wealth aims to provide an enhanced investing experience to retail investors.
According to ORO Wealth, most people invest in the Regular Plans of Mutual Funds. These regular plans have inbuilt expenses in the form of commissions for distributors and in the long run, they provide lower returns to the investor (the leaks in the well I mentioned above). Buying Direct Plans of the same funds give you greater returns and this is what HNIs and financial institutions do.
But so far, retail investors have not been able to take advantage of Direct Plans for two reasons:
- Lack of information
- Hassles in buying Direct Plans as compared to Regular Plans
ORO Wealth comes into the picture, here:
- They are India’s first platform for transacting in Direct Plans of mutual funds from multiple AMCs in one place.
- They are investor-friendly portfolio tracking etc.
- They provide investors access to valuable data on Direct plans and on commissions in different Regular plans through the user-friendly ORO fund screener (https://orowealth.com/#/screener)
Investors can enjoy these services by paying a small convenience fee (Rs. 50 for transactions below Rs. 1 lakh and 0.1% (one time) of the transaction amount for transactions above Rs. 1 lakh).
ORO WEALTH PREMIUM ACCOUNT
Like how an editor/writing coach can make your writing shine if you are a writer with advanced skills, in the same way, retail investors with a portfolio greater than 1 lakh can avail of ORO’s Premium Account. This account is a handholding of sorts, with specialized advice on making your portfolio provide you greater returns commensurate with your goals and risk-preferences (find out more about the Premium Account by signing up here)
Go on, check out ORO Wealth: ” Invest with ORO and experience the difference that truly low-cost investing and good, unbiased advice can make to returns.”
The only thing that can happen is that you become wealthier, with more time to write.