Dhanteras, also known as Dhantrayodashi, is the first day of Diwali week. The day is considered auspicious to buy gold, silver, and vehicles to grow wealth, as investing in these items on Dhanteras brings good fortune. But today, the world is changing, and so is India. Today, more and more people are investing in stocks, mutual funds, insurance, and other investing options. Investing in financial assets this Dhanteras will not only benefit you now but will also secure your future. After all, Dhanteras is a time when the primary goal is to achieve and maintain financial prosperity. So, let us take a look at some of the investing options that you can go forward with:
- Stocks: A valuable component of your investment portfolio could be stocks. You can increase your savings, shield your funds from inflation, and increase your investment return by purchasing companies' stocks. Today, investing in stocks is regarded as one of the best methods for building long-term wealth, and investors can use the stock market to reach their long-term financial objectives. Also, the stock market offers versatility. You can buy bonds, shares, mutual funds, and derivatives. To get the best advice, you can get in touch with an experienced broker.
- National Pension Scheme: The National Pension System (NPS) is a voluntary, defined contribution retirement savings plan created to help members make the best choices for their future through systematic saving throughout their working lives. The NPS aims to help citizens develop the habit of saving for retirement. It is an effort to find a long-term solution to the issue of giving each Indian citizen a sufficient retirement income. Despite investing in market-linked securities, NPS carries a lower risk than other money-market instruments like stocks, mutual funds, etc. Because NPS is a government-owned programme, the equity cap ranges from 50% to 75%. As an investor gets closer to retirement, this percentage keeps dropping, making it a relatively safer instrument.
- Insurance: Investors occasionally buy insurance coverage to achieve their financial objectives. Sometimes people find it convenient to purchase an insurance product that includes investment components, such as ULIPs, to meet their insurance and investment needs. With ULIPs, you can move your money between various asset classes and change your allocations to debt funds to cut losses during a downturn. Other than that, one of the prime benefits of buying insurance is that you get savings on income tax.
- Bonds: You might also be interested in learning why bond investments are a significant component of your overall financial portfolio as you attempt to comprehend the nature of an investment bond. The first guideline of any wise investment plan is to diversify your holdings. Investors must be careful not to lose their money because, for most investors, their hard-earned money is frequently divided among various instruments. An investment in bonds offers easy-to-predictable income; in many cases, bonds pay interest twice a year. Since the investor receives the entire principal amount if the bond is held until maturity, these are regarded as the best way to protect one's capital.
Investing in financial assets, this Dhanteras will not only put you in a good state for the present but also ensure your financial security in the future. Additionally, now is an excellent time to evaluate your portfolio, spot any gaps, and close them to ensure long-term success; as someone has rightly said, “Make money, invest it and make more.”