"How many millionaires do you know who have become wealthy by investing in savings accounts or debt instruments? I rest my case."
Though investing in a savings account is a sure bet, your gains will be minimal or probably negative given the extremely low interest rates and high inflation. But don't forgo one completely. Each instrument has its own importance. You can succeed as an investor only if you know the strengths of your players well. The players in the game of investment are the various instruments like savings account, debt, gold, mutual funds, equity etc.
A savings account is a reliable place for an emergency fund, whereas a market investment is not. Each player should be a part of your team, the challenge is not about whether you have them or not, the real challenge is in using them or putting them to play at the right time. Being brought up in a cricket crazy country i would conclude saying that you can compare debt instruments to a certain Rahul Dravid and the equity investments to Sachin Tendulkar or probably a Virender Sehwag. You need all three of them to form a strong team that can perform consistently in any given environment.
