Investment is how you make your money grow. It is an essential financial decision that irrespective of gender, everyone must consider. It does not matter whether you are a salaried employee, business owner or a housewife, there are multiple options available for everyone to keep some money aside for various purposes like retirement, emergency or buying property.
While the financial field has always been ruled by men, women are also advancing rapidly in the same direction. We spoke to CA Deksha Gupta who shared a list of investment options that you must be aware of.
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LIC (Life Insurance Corporation)
Using LIC, you can invest your money in yourself. You can avail of life insurance plans that will give you a good return in a fixed amount of time. Using LIC, you can invest in various sectors, including electrical and electronics, cement, banks, healthcare, information technology, motor vehicles, transportation, etc.
Gold
Gold is another field of investment in which you can and must invest. In India, we often see people buying gold for special occasions across cultures. Whether you buy a solid piece, coin or a necklace, they all are termed as investments and can also offer some tax benefits, especially if a woman has the ownership.
PPF (Public Provident Fund)
Introduced in 1968, public provident funds are small investments that can help you grow your money and get good amounts of return on it. In most cases, a PPF takes 15 years to mature and can be extended for blocks of five years. You can open a PPF account with as little as ₹100.
Mutual Funds
Mutual funds are moderate-risk investments because they are subjected to market risks. Broadly, mutual funds are classified into two types – Equity Funds and Debt Funds. There is a certain option in which housewives can start investing with just ₹100.
Bonds
In the simplest terms, a bond is a loan sum issued by an investor to a borrower so that the person can complete their business operations. By investing, the investor receives interest in the investment. You must know that the market value of the bond can change over time.
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Property
Property remains to be the biggest investment option open to everyone. It gives you a good return but might drain your account completely. Most people prefer investing in commercial properties as they help to get better returns, and you earn rent on it as well.
PF (Provident Fund)
Provident Fund or Employee’s Provident Fund (EPF) is a government-run scheme that can help you save money on tax while watching your investments grow. When you join a company, and you opt for EPF, it can offer you capital gains and serve as a retirement fund in future. In this scheme, your employer transfers 10% to 12% of your base salary, while you will have to invest 8% of your basic salary for the first three years.
FD (Fixed Deposit)
Fixed Deposits are considered the safest investment option for everyone. You keep aside a lump sum amount in the bank at an agreed-upon rate of interest for a finite period. FDs are also called term deposits. Different banks have different options that you can explore.
NPS (National Pension Scheme)
The National Pension Scheme is your way to plan your retirement. The sooner you start investing in it, the better returns you will get after a period of time. The best aspect of NPS is you can start with a minimum sum of ₹500. There is no maximum cap, so you can pick your policy accordingly.
Stocks
Stocks are shares, into which a company’s ownership is divided. You can look into a firm’s history and invest in stocks according to their performance in the market. These can be short-term or long-term investments. However, you must know that the value of stocks can change drastically at any point in time.
NSC
NSC is a fixed-income scheme started by the post office of India. It was an initiative of the Government of India. It is a low-risk investment option, and you can claim tax exempts under section 80C.
