Why financial planning is important, top 5 investment options, why it is the best and safest

top 5 investment option

top 5 investment option

First of all, emergency fund is most important for the contingent needs of life. After this comes the investment. Investment strategy should be made such that one does not have to borrow from friends or relatives or take loan from the bank for any big or small business. For this, know from experts the best five options for investment…

New Delhi. Due to the Corona epidemic, this time has become more difficult for everyone. Both people’s health and wealth have been greatly affected. Many of us also suffered less in this difficulty due to better financial planning. At the same time, there are many people who missed financial planning and had to suffer a lot. Corona has once again explained to people that looking at the future, financial planning is one of the essential tasks of life. First of all, emergency fund is most important for the contingent needs of life. After this comes the investment. Investment strategy should be made such that one does not have to borrow from friends or relatives or take loan from the bank for any big or small business. For this, know from experts the best five options for investment, which are safe and tried too …. 1- Public Provident Fund- Public Provident Fund (PPF) is suitable for long-term goals such as retirement. Due to the investment period being 15 years, the effect of compounding of tax free interest is seen in it. Currently, it gets 7.1 percent interest. The amount of which is added to the basic capital every year (compounding). It is also a completely safe investment because the government guarantees interest and principal. Maximum 1.5 lakh rupees can be invested annually in it.Also read- Invest money in this policy of LIC, there will be no tension of monthly expenses! You will get 9 thousand rupees every month 2- Mutual Fund SIP Investing in equity is considered ideal for long term goals. Mutual funds are the simplest way for common investors to step into this market. In this also, SIP (Systematic Investment Plan) gives investors the facility to invest a fixed amount in equity every month. You should start SIP in 3-5 such schemes, which have consistently performed well. It would be better to choose a large cap fund. It may be better to invest some in mid-cap schemes.
3- National Pension Scheme The National Pension Scheme (NPS) is a long-term investment product designed specifically for retirement. It is overseen by the pension fund regulator PFRDA. To keep the NPS Tier-1 account active, the annual minimum contribution has been reduced from Rs 6,000 to just Rs 1,000. On retiring, you can take 60 per cent tax share of the entire capital outright tax free. The remaining 40 percent can take a lifetime pension from the fund. Also read- Farmers’ income will increase: Mud Crab hatchery technology gets patent till 2030, crab exports will increase 4- Health Insurance Cover The inflation for the treatment of diseases is more than the normal inflation. In the era of Corona, we are seeing that the cost of getting admitted in hospitals, not in thousands, sits in lakhs. In such a situation, adequate health insurance coverage becomes necessary. Its cost depends on which city you live in, what kind of hospitals are around and things like medical history. If there is sufficient medical insurance coverage (Rs 8-15 lakh), then the insurance company pays the entire bill on hospitalization. 5 – Adequate Life Insurance Coverage – Immediately after the commencement of working life, it is necessary to take life insurance cover. Its importance is so much that it should be done before you start saving, so if you have not yet got life insurance, then first of all, do this job. Now the question arises that how much life insurance will be sufficient for the financial security of the family. Generally, a life insurance cover of at least 15 times the annual income should be taken.




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