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| 2009: A year of hope
The future, said Walt Whitman, is no more uncertain than the present. When we aren't sure about what's happening today, dare we stick our necks out and foretell what will happen next year? We decided to go ahead and ask the experts what they thought 2009 would have in store.
On the whole, despite the gloomy present, it appears that things might look up. The pension sector seems to be the most upbeat, with the New Pension Scheme to be opened to the general public from April 2009. It could even mark the beginning of the much delayed and desperately needed reforms in this sector. The real estate sector, meanwhile, is not exactly shining. But experts and analysts believe that the worst is over, at least for the buyers. Developers might lose crores of rupees, but you might be able to buy your house for less than you thought. Interest rates on your home loan could also be lowered, although getting that loan is likely to be an uphill task in 2009. Among other reasons for this is that banks are moving towards capital protection and away from selling innovative investment products.
Besides protecting their wealth, investors are also looking seriously at securing their financial dependants and their health. Meanwhile, general insurance products are gaining popularity. While this is good news, it also highlights the fact that people are thinking of protection, not wealth creation, which might have become a thing of the past; equities are not going to do as well as they once did.
But don't lose heart. If you invest wisely, you will still be able to make some profit. And that, really, is what 2009 is going to be about: making careful and wise investing choices during turbulent times.
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