Investment is a big deal for all of us. Prices increase faster than our incomes. No matter how much we prepare for bad times, our budget always seems to go for a toss. If we have one thing to protect us from these setbacks, it is our investment. However, investing in just about anything will not do. After all, if you invest in a risky proposition, you will always stand to lose money. This is the reason why should read this piece today. Investing your money is just about any scheme will not be fruitful for you. But what schemes will bear fruit? Read on to find out the best investment options for you out there today.
Best Investment Options For You Today
Public Provident Fund
An investment in Public Provident Fund (PPF) is likely the least exciting prospect out there. Stock markets are back on the rise and you can make a lot of money there. However, an investment in PPF is the least risky proposition you can go for. Firstly, it is backed by the government of India, so there’s guarantee. Secondly, its interest rate is not as high as that of various other instruments. However, investing in it at the right time will ensure you have some backup for yourself in time of need. Thirdly, investing up to 1.5 lakh in PPF a year also helps you avail tax deductions under Section 80C. One of the best investment options in case you plan for medium-term investments.
The second investment avenue for you this year is health/term life insurance. Let’s talk about health insurance first. Today, the risk to life is quite high. Rising pollution, high road accident rate, etc. just hint at that reality. However, there is also another reality. In this reality, the risk is still high but the financial burden on you is less. This is the reality when you have a health insurance policy. A health insurance policy helps you cover for any unforeseen health risks such as terminal illnesses, road accidents, etc. This way, you finances stay safe while the insurance company takes care of your health-related expenses.
Coming to life insurance, it has become a great avenue for investment. With term insurance plans becoming all the rage, they offer a number of benefits. First off, they do not cover death only. Term insurance policies cover terminal illnesses too. Secondly, term insurance is not as costly as even health insurance. Third, just like in the case of health insurance, a term insurance policy helps you claim tax deduction under Section 80C.
Invest in these tools at the earliest to reap their benefits in later stages of life. You will thank yourself for investing in such instruments. These are the best investment options for short and medium term risks.
Planning your retirement is a big deal. The even bigger deal is to plan for your retirement at an early stage. Granted, you may not be as young as you would like to be. That has got nothing to do with your ability to secure your future. How? Just give the National Pension Scheme (NPS). A number of schemes are on offer under NPS by government of India. If you feel sceptical about this, here’s something to change your mind. The NPS today offers two types of accounts. One account does not let you withdraw money until your retirement. The other account lets you withdraw as much as you want at any given time. However, to have the latter, you need to have the former. This is perhaps at the top of this list of best investment options if you are looking to invest in an instrument for a long term.
NPS schemes also offer good rate of interest on investments. Also, not just government but private employees too can invest in this. One can also avail tax deduction under Section 80C. Saving and saving…
These are just some of the schemes that will help you plan for a brighter future. Taking care of your present is the health insurance and the rest three cushion you in future. However, starting all these today is the key to deriving the maximum benefit out of them. So, start investing in them now and have a great life ahead of you.