Most people don’t know where to start when it comes to investments. The constant hustle of dodging risks and returns seems pretty challenging to some. Besides, investors these days are expecting a lot out of investment – sky-rocketing returns in a fairly less amount of time. And, when the decision is about multiplying your wealth, you must not take any chance! Begin with making an investment plan where you align your risk profile with the risks associated with the investment option of your choice.
Once you do that, you can go ahead and consider picking from the two investment avenues – financial and non-financial investment tools. Financial assets like mutual funds, stocks, fixed deposit while non-financial assets like real estate and gold can be considered. Stay tuned while we help you pick your suitable investment option.
There is a very commonly known quote about investment options.
How many millionaires do you know who have become wealthy by investing in savings accounts? I rest my case.” — Robert G. Allen
Most people consider savings accounts as a safe bet for investments. However, the gains you’d get out of a savings account are very less due to low interest rates.
There are various fund types that you can invest in depending on your risk appetite. Balancing risks with returns can be best done by investing in new-age investment options like mutual funds. You may also consider opting for a Systematic Investment Plan (SIP). By building a portfolio over a long duration through small investments at regular time intervals, SIPs reduce your market risks. With benefits like flexibility, higher return on investment, tax benefits, and high liquidity that allows you to sell the funds and funds your needs, Mutual Funds make for a great investment option.
Striking a balance between earning returns and having easy access to your savings and your money forms the basis of a rainy-day fund. While you do so, you need to ensure that your rainy-day fund is saved from losses of inflation. And one of the most ideal plans for your rainy-day fund would be ULIPs. With a long-term investment strategy, flexibility to switch between funds, tax savings and more importantly, the option to withdraw funds in times of needs on completion of the 5-year lock in period, ULIPs are a great investment option.
When it comes to investing for your retirement corpus, you can safely choose the National Pension Scheme (NPS) which not just lets you save for your future, but also ensures safety as it is a government-backed investment option. Simply invest in government equity and bonds as per your requirements. And the best part, you can start investing with as low as Rs. 500.
Now that we have discussed certain investment options for you to start saving right, it’s your turn to check on several plans that meet your specific needs. Start with identifying what you need and how much you need to save, post which, pick the plan that helps meet your goals. And, at Finserv MARKETS, you can explore your choice of investment tools that are designed to help you fulfil your goals easily.