Which is the following item is good for wealth accumulation purposes?

A. Bank loans

B. Investment in shares

C. Investment in Term Insurance

D. Investment in savings bank accounts

Answer: Option B

Solution(By Examveda Team)

Investment in shares is good for wealth accumulation purposes. Individuals have financial goals which motivate them to invest in specific havens. However, the choice of investment avenue can make or break the realisation of financial dreams. It is because of the forces of inflation and taxes. These tend to reduce the purchasing power of your money and impede faster wealth accumulation.