'Wisest Owl': Book offers tips to young people on how to generate long-term wealth

New Delhi, Jul 24 (PTI) Using the wisdom and experience of India's top personal finance professionals, a new book offers young investors -- including students and home makers -- tips to create wealth in the long run.

"The Wisest Owl: Be Your Own Financial Planner", scheduled to release on Monday, is written by investment research consultant and author Anupam Gupta. It is published by Penguin Random House India (PRHI).

"The rise in opening of demat accounts and the well-accepted popularity of SIPs as a method for long-term wealth creation underscore the trend of India moving towards financial products such as stocks and mutual funds. This shift also makes it necessary for all of us to have a plan for our money so that we have a roadmap to achieve our financial goals," Gupta told PTI.

"This book has the combined wisdom of six SEBI Registered Investment Advisors (RIAs) in the form of in-depth interviews after each chapter," he added.

Should I rent or buy a house? Is passive investing better than active investing?  Are stocks more lucrative than mutual funds? Do debt funds generate better returns than FDs? And finally, Crypto or no crypto? These are some of the critical questions that the book aims to answer.

"'In The Wisest Owl: Be Your Own Financial Planner', readers will get answers to these questions as well as an entire chapter dedicated to understanding how financial plans work and how to get started on making your financial plan," explained the author.

Gupta's last book "The Victory Project: Six Steps to Peak Potential", co-authored with Saurabh Mukherjea, was a 2020 bestseller. PTI MG RB RB