Mumbai, July 2 (IANS) The Indian benchmark indices opened higher on Wednesday amid positive global cues, as buying was seen in the IT and auto sectors in the early trade.

If you’ve ever discussed money at an Indian family function, you know exactly who Uncle Ji is. He’s that uncle in every family who claims to have made a killing in the stock market in 1992 and has been dishing out investment gyaan ever since. He sits next to the buffet, speaks in half-whispers about LIC policies, and somehow manages to sound like Rakesh Jhunjhunwala even though he’s still checking prices in the newspaper.

Let’s be honest. We all have that one well-meaning but wildly outdated relative whose financial advice sounds like it came from a dusty Doordarshan special. And the truth is, a lot of us still follow this advice without realizing that the stock market has evolved more than our family WhatsApp groups have.

So in honor of every Uncle Ji who thinks trading is gambling and every aunty who says mutual funds are a scam, here are 7 common stock market myths Indian families still believe and why it’s time to retire them just like those old LIC diaries.

Myth 1: The Stock Market Is Just Gambling BetaAh yes. The classic. The stock market is not a place to grow your money it’s apparently a roulette table with better lighting. For generations many Indian families have looked at the stock market like it’s a shady alley where you either strike it rich or get robbed blind. Probably because someone once lost money on a tip from a neighbour’s son’s tuition teacher and blamed the whole system forever.

Reality check investing in the stock market is not gambling. It’s risk yes but it’s calculated risk. It’s backed by research strategy diversification and long-term thinking. Gambling is when you throw your money in and hope for the best. Investing is when you make informed decisions based on data trends and patience.

You wouldn’t call buying property gambling right so why treat investing in companies any differently?

Myth 2: Put Your Money in Gold Stocks Come and Go But Gold Is ForeverWe love gold. It’s cultural. It’s emotional. And during weddings it becomes our official currency. But when it comes to building wealth gold is not the superhero Uncle Ji makes it out to be.

Here’s the thing. Gold does hold value over time but it’s not a growth machine. It’s more of a wealth preserver than a wealth generator. If you put 100 rupees in gold 20 years ago it might be worth 150 rupees today. If you put the same amount in the stock market it could easily be worth 600 rupees or more.

Gold protects against inflation but it doesn’t build big fortunes. So keeping all your eggs in the gold basket means you might stay safe but you won’t get rich.

Myth 3: You Have to Be Rich to Invest in StocksThis myth is a real party pooper. Some families believe you need lakhs of rupees or some secret “insider info” to start investing. This keeps many people stuck in the “waiting to be rich” trap.

Newsflash you don’t need a fat wallet or fancy contacts to begin investing. Thanks to technology and apps like Zerodha Groww and Upstox you can start with as little as 100 rupees. Yes that chai money can now grow into something bigger if you play it smart.

The key is consistency not lump sums. Investing small amounts regularly through SIPs or direct stock purchases adds up way faster than waiting for the “perfect time” or “perfect amount.”

Myth 4: Mutual Funds Are a Scam Aunty SaysMutual funds often get a bad rap in Indian households. Some think it’s a scam or that the fund managers are playing with their money behind the scenes. This myth comes from a lack of understanding about how mutual funds actually work.

Mutual funds are basically a pool of money collected from many investors and managed by professional fund managers who invest in stocks bonds or other assets. The idea is to spread risk and make investing easier for regular people.

While not all mutual funds perform equally well many are safe and reliable investment options especially for beginners who don’t want to pick stocks themselves. The key is to pick funds with good track records and low fees and to avoid schemes that promise unrealistic returns.

Myth 5: Buy Low Sell High Sounds Easy But Nobody Does ItUncle Ji’s favourite advice is to buy low and sell high. Sounds simple right? But in reality it’s the hardest thing to do in investing.

Why? Because timing the market is nearly impossible. Stock prices move based on news emotions and countless unpredictable factors. Most people panic sell when markets fall and get greedy when prices rise. This leads to buying high and selling low the exact opposite of the advice.

The real trick is to invest for the long term ignore the noise and not react to every market swing. Staying invested and letting your money grow over years works better than trying to play the market.

Myth 6: Stock Market Is Only for Young PeopleMany Indian families believe stock investing is risky and only suitable for young people with time on their side. While it’s true younger investors can afford to take more risks the market offers opportunities for all ages.

Older investors can choose less volatile stocks or balanced mutual funds to protect their capital while still earning decent returns. Investing early is great but starting late is better than never.

There are many ways to invest based on your risk appetite financial goals and time horizon. Age should not be a barrier to building wealth through stocks.

Myth 7: You Need to Be a Finance Expert to InvestFinally many people think investing is only for finance gurus with degrees and insider knowledge. This myth keeps many intimidated and stuck with savings accounts or fixed deposits that barely beat inflation.

The truth is you don’t need to be a stock market wizard to grow your money. With a bit of learning basic research and help from apps or financial advisors anyone can start investing confidently.

Start simple focus on a few good companies or mutual funds diversify your investments and keep track of your portfolio regularly. The more you learn the more comfortable you get. But waiting to become an expert means lost time and missed opportunities.

Time to Retire the Old Myths

Mumbai, July 3 (IANS) The Indian benchmark indices opened higher on Thursday amid positive global cues, as buying was seen in the IT, pharma and auto sectors in the early trade.

Stock market investing has come a long way since Uncle Ji’s days of newspaper prices and dusty tips. Today it’s accessible transparent and powerful enough to grow wealth steadily if done wisely.

So next time Uncle Ji starts his “stock market is gambling” speech or aunty warns you about mutual funds being scams politely smile and know better. Investing is for everyone not just for the elite or the experts.

Break free from old myths embrace new tools and information and start building your wealth story your way. Because the only thing riskier than investing is ignoring the chance to grow.