Finally, you made it!!! Glad you are here. You made the right choice of choosing to read this write up which is certainly to benefit you for generating some extra money.
We all want financial security especially to tackle times that are uncertain and beyond one’s control. Surely, this pandemic has thought us a lesson as to why it’s essential to keep your money parked or rather invested in a secure place. Although a situation like COVID can hamper your secure investment plans also, but nonetheless, situations like this where the world comes to a standstill erupt once in 100 years. Until then you are free to choose and use the best investment plans in order to secure you and your family’s future.
We have listed a few investment ideas below, which can be looked upon or rather invested upon based on your budget and capacity:
We Indians are very much aware of the value that gold carries with it. It’s not just price value, but also emotional and mental value that it carries with us. Moreover, there is no denial in the way; this value is gaining momentum sharply. With the increase in gold prices, it is the best investment one can start with. Gold can be acquired in any form namely coins, gold bars, jewellery and others. The price is just going to increase with each passing month and year. The more you delay in buying, the higher the price.
Here’s a snapshot of how Gold prices have risen in the last 10 years for you to make a better investment decision.
Source: Gold Price.org
After viewing the above chart, and once you have decided to buy yourself Gold, you can also use your Gold to avail yourslef a Gold Loan whenever there is any requirement for urgent money, without even selling your gold. Loan against Gold is fast, require minimum documents, have lower interest rates and also CIBIL is not required.
Just like gold, this is also an investment, which comes to one’s mind when we think of investments. However, here one thing to note is that you should not consider your own house where you are staying as an investment. You either invest in a secondary house or buy a shop, land or others; it can be any type of property. You can buy it and give it on rent or just stay/hold an investment in it.
Another one is of availing Tax benefits on Home Loan; a person with a home loan gets Income Tax benefits under multiple sections like Section 80 EEA Section 24 and Section 80C. Detailed benefits can be read here.
Another smart thing about, Real Estate investment is that you can avail a chance to get a Loan Against Property. With this, we simply mean that you can mortgage your property and get a loan for any monetary assistance that you require be it business, wedding and others with the additional property that you possess.
Share Markets/Mutual Funds
Here either you can invest directly in stock markets; provided you have prior knowledge about markets and stay invested until you get profits or continue trading until you wish to trade.
Another thing that you can do is, when Markets are higher or you have got the returns you wanted, you may exit and take a loan for some extra needs like buying a Property, Education, Travel, Medical assistance or any other.
For those who have less or no information about trading, the best thing for you is to invest in Mutual Funds. Why Mutual Funds because they come with a lower risk, your funds are managed by experienced Fund Managers, and you need to invest in them for the long term. There are a variety of companies offering Mutual Fund schemes, you can do market research and choose the schemes accordingly.
Other investment options
Apart from the ones mentioned above, you can explore other investments like Bonds, Treasury Securities, Bank Fixed Deposits, Public Provident Funds and others. Investments in these can be started with a minimum amount for a longer term.
If you have a business, you can also add more capital into your business with the help of a Business Loan that can be used to fuel your expansion plans like renovations, clearing dues, procuring raw materials, creating employment among others.
However, before you start investing; think what is your future goal, your purpose of saving. Plan and make a budget on how much amount you want to invest at one go or how much amount you want to keep aside for investing monthly. Take your time and then take the right step.