M4b makes sense only for salaried or current account holders. Keeping 10L in savings or 30L fd just for burgundy account makes no financial sense. Someone has to spend at least 20- 25L just to break even from the loss of "burgundy status".
1st of all, people need to differentiate between emergency, consumption & investment funds. Weridly, Burgundy balance can't be termed any of that because once you take the money out you lose burgundy status & the cc.
But where did you get the figure? Really 7.25%? People can get much higher return if they just do few simple things. People who dont have good finance knowledge & those who cant stay updated with relevant info, shouldn't even deal with individual stocks. Dealing with individual stocks is a full time job (though there are few exception).
If someone is putting money in burgundy account means he doesn't need to spend it in medium term then he should park the funds at mf. Even if there is a crash, it'll bounce back
If it happens, there are bigger things to worry about than cc rewards.
It's like saying someone might die next day/week/month, So he should spend all his money to enjoy. There is no sense of proportion in this argument.
Like
@ccrnc said, if someone is so paranoid about war/govt/bank failing then they should buy gold ( may be with infinnia or even neu infinity/ kotak myntra 🤣)
