Start Savings For Your Old Age Today Before It Is Too Late
There is no rocket science to learn the art of savings. Lookup to your mother she is a perfect example of balancing the money strokes every month from the insufficient funds earned per month, and still succeeds to make a handful of savings for the future. There are no criteria on how much, when, where and at what age you start savings. But an early wake-up call definitely makes your life comfortable at the old age. Let us see what the various investment options available to start savings are.
1) Investment in SIP
2) Investment in Mutual Funds
3) Investment in Life Insurance Policy.
4) Investment in Gold.
5) Investment in Bonds.
6) Investment in Property.
7) Long Term Investment in Stock Markets.
8) Investment in bank's Fixed Deposits, Recurring Deposits.
9) Investment in PDF.
10) Investment in National Pension System.
Along with the investment options mentioned above, government has also announced from time to time various investor beneficiary schemes for the investors such as Atal Pension Yojana, Pradhan Mantri Suraksha Bima Yojana, etc., which can also be considered for investments.
Many a times making that first move towards savings is the hardest way when you are piling on the expenses total towards the EOD. But provisions have to be made to secure one's own future and therefore 'start to save today' is the only mantra before it gets too late. Therefore the monthly installment investment schemes sound more suitable to make a start for a systematic investment for money savings. But the base rule of investment states that while selecting an investment option you have to match your own risk profile with the risks that are associated with the product and accordingly choose wisely before you invest.
Since money is the love of all human beings, it is said to be a human tendency to get attracted towards the shortcut money earnings and fall for the lucrative offers so designed for you to resist. There are numerous of such unreliable chit fund companies, and plenty of ponzi schemes that lure the people with high returns with probability of zero risk factor. In fact such investment products with high returns and low risk do not exist at all. Numbers of companies open and shut down, also there are bogus companies opened only to chit people and take away their money under the name of investments promising sky-high returns.
We also come across of the companies who rank themselves in top on investment scandals, hence choosing among the secured investments is the basic requirement of saving money.
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