Akshaya Tritiya: The Day Bringing You Good Luck and Wealth
Akshaya Tritiya, also known as Akshaya Teej or Akha Teej or Parashurama Jayanti, is a spring celebration on the third lunar day of the Vaisakha month.
Akshaya means permanency in prosperity, optimism, success, and joy. While Tritiya denotes the third phase of the moon, and it marks the beginning of the third day of continuous wealth. As a result, any investment you make on this auspicious day will grow in value over time and not be destroyed. So it is strongly recommended that you schedule it for this day. 'Akha Teej - the alternative name for Akshaya Tritiya – is a revered day in Jainism and Hinduism.
According to numerous stories, this day is one of the most blessed days. These go like:
Popular Stories Behind Akshaya Tritiya
- This story dates back to Mahabharat when the Pandavas were serving their exile in the forests. Durwasa Muni, famed for his rage and cursing, once came to the Pandavas' home for lunch with his thousands of disciples. However, all of the food had been consumed by that time, and nothing was left to eat. So Draupadi prayed to Lord Krishna for aid. Meanwhile, when the Brahmans arrived, they saw that the Patra was empty. So Krishna requested a bite of food from the Patra. When Draupadi handed Lord Krishna that single morsel of food, all Brahmanas were instantly satisfied, and Draupadi was spared Rishi Durwasa's wrath. This was Lord Krishna’s magic at work.
- It is believed that this day also marks the incarnation of Lord Parasurama. He is the sixth incarnation of Vishnu and is worshipped in many Vaishnava temples. Therefore, this day is also celebrated as Prasurama Jayanti.
- There is another popular sighting in the mythology related to this day. It is said that on this day, Ved Vyasa began reciting the epic Mahabharata to Lord Ganesha. So it was on this day, that one of the most popular epics of Hindu mythology, the Mahabharata, saw its inception.
- Another popular story suggests that it was on this day that the holy river Ganga descended to land. In remembrance of this, Yamunotri and Gangotri temples are opened during the Chota par Dham pilgrimage. People also perform special puja on this day, and it is considered beneficial to bathe in the river.
Although these stories do not belong to the same era, there is one thing common in them. Something ‘Auspicious’ or ‘Fortunate’ happened. These stories collectively make it a day of Good Luck!
Why A Day of Good Luck?
In India, people believe in ‘Muhurats’ - the most preferred time to do anything meaningful. Usually, these special muhurats are derived from the study of stars and are specific moments in a day. However, on the day of Akshaya Tritiya, each moment is a special muhurat. Anything new started or done on this day will prove a triumph.
Buying gold and silver on this day is considered particularly lucky.
Goddess Lakshmi is associated with gold and silver, and it is thought that investing in gold and silver on this day will bring success and fortune. Moreover, on this day, any business that begins or any investment done on this day will succeed.
In India, gold is seen as a safer investment option than other options such as equities, fixed income, and real estate. One of the critical reasons for the Gold's popularity among Indians is its capacity to function as a barrier in times of financial crisis. Gold is also considered auspicious, and it has been a sound financial option for a long time.
Going for Gold the New Way
Lately, people have started to opt for online purchase of Gold, ditching the traditional way of purchasing gold in physical form as it is easy to buy, 100% pure, easy to sell, no hassle of storage. If individuals want to invest in gold but do not wish to physically buy it, various options are available.
|Parameters||Physical Gold||Gold ETFs||Gold Funds||Gold Bonds|
|Max-Min Limit||No Limit||Min: 1 UnitMax: No Limit||Min: Rs. 1000Max: No Limit||Min: Denominations - 2gm, 5gm, 10gmMax: 500 gm|
|Liquidity||Can be Sold at Discount||Can be sold on the exchange if there is enough liquidity.||It is possible to redeem it at any moment.||It's possible to trade it in for something else. However, there may be a liquidity problem.|
|Lock-In Period||No Lock-In||No Lock-In||No Lock-In||8 YearsExit Option: After 5 Years|
|Expenses||Up to 20% of Purchase Value for Making Charges||Expense Ratio: 1% + Demat Account Maintenance Charges||Expense Ratio: 0.5% + Demat Account Maintenance Charges|
|Internet Earned||-||-||-||2.75% Interest on Initial Purchase Value|
|Taxation||Long-term capital gains are taxed at a rate of 20% after three years and are taxed at the income slab rate before three years.||Long-term capital gains are taxed at a rate of 20% after three years, with the first three years taxed at the income slab rate.||Long-term capital gains are taxed at a 20% ipost indexation rate after three years and are taxed at the income stab rate before three years.||Capital gains on redemption are tax-free, while capital gains on sale are taxable at 20% after three years with indexation.|
|Advantages||Snob value allows you to enjoy your gold while it appreciates.||There are no concerns about storage, and the purity of gold allows for purchases extremely small. numbers.||There are no concerns about gold's security or purity, and it is possible to buy gold in minimal numbers.||Has the added benefit of free gold capital appreciation as well as a guaranteed Interest yield.|
|Disadvantages||Concern about security and purity of Gold||Dua Nature of Cost Structure||Insufficient trading volumes result in a difference between the NAV and the market price.||Purchases are limited to 500 grams per person per year.|
The day that brings good fortune every moment should be celebrated by starting something significant. Embarking on your Investment journey, taking that step to make yourself financially secure is among a few. So take a Leap to start Investment with Glide Invest this Akshaya Tritiya and get a guided one-stop investment solution that stays with you wherever you go. Download the Glide Invest App and start investing today!