Here are the top 5 investment options for working women who want to become financially independent.
New Delhi: In India, the number of working women who are financially independent has increased significantly. They have realized that financial security and independence are equally important, despite their motivation to seek positions of great power, and this is when the power of investing money kicks in.
We present the top 5 investment opportunities for working women who want to become or remain financially independent.
National Pension Scheme
To help you save money for retirement, the Indian government has launched NPS, a market-based savings program. An individual’s contributions are invested in various securities under the NPS plan, including stocks, corporate bonds, cash, government bonds, and financial fixed instruments.
The National Pension Scheme is under the control of PFRDA, the Regulatory and Development Authority for the Pension Fund. The arrangement gives you the freedom to select your mutual fund manager, fund alternatives, annuity service provider and annuity choice, according to ICICI.
Fixed deposits
Fixed deposit investments are one of the best ways to secure your money as it not only allows you to save money but also earn a significant income from it. Competitive bank FD interest rates allow savers to earn a positive return on investment over a predetermined period of time, according to Groww.
Mutual Fund SIPs
The best investment for women with a moderate to high risk appetite is a mutual fund. Based on your financial goals, you can invest in equity, debt or hybrid funds. A systematic investment plan (SIP), which is frugal and suitable for long-term investment, is a great place to start if you’re a newbie. You may want to consider investing in an equity-linked savings program (ELSS) if you’re an aggressive investor and willing to put money into it, according to ICICI.
Gold
Gold was and is one of the best investments to date, and who better than a woman would understand the value of an investment in gold? There are numerous ways to invest in gold, including buying jewelry, coins, bars, exchange-traded gold funds, gold funds, government bond programs, etc., the report said.
Health insurance
It is often said that the best investment we can make is in our health. It is critical to protect the health of your family and your own. Environmental hazards today represent a significant health risk. Comprehensive health insurance will cover your medical expenses in these situations, preserving your savings.
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