Diwali is the most celebrated Hindu festival. It is the festival of prosperity and lights and Dhanteras is the first day of this 5 days Diwali celebration. On every Dhanteras, people look for different ways to invest the money as they believe it is good and will be profitable to invest on Dhanteras. But, usually, people find it difficult to select the right way to invest their hard-earned money for higher returns. To provide ease to you and to help you with your queries, I prepare a list of top investment options for this Dhanteras.
1.) Gold & Silver
Dhanteras and Diwali is a festival of lights and on this occasion, people usually prefer to invest in Gold and Silver for various different reasons. An investment in Gold & Silver considered being auspicious on Dhanteras. An investment in Gold is always good for long term benefits. It is available in the form of jewellery, gold coins and bars as well. You can buy it in any form that you like.
2.) Investment in Equity
There is no doubt in saying that Dhanteras and Investment goes hand in hand. However, it is also a fact that before investing in anything, traders should do thorough research on all available investment options. Make an investment in equity for the long term rather than the short term. You should have a disciplined approach for investments as it will assist you to take care of market imperfections.
3.) Invest to Save on Taxes
Most of the people look for different investment options when it comes to saving on taxes and if you are one of them, then it’s time for a change. You must make an investment in tax saving tools bt also look for great options such as PPF, ELSS, and NSC among others.
There is no doubt in saying that the insurance is meant for protection, hence it is very important to invest in the appropriate insurance policy. Insurance policy can act as an asset to your family. When it comes to choosing appropriate insurance policies, make sure you are comparing all the available options to get the best. As a wrong choice can cause more hard in the long run. You must make sure you have adequate life and health insurance. Moreover, a family floater plan is always good for the protection of your family.
5.) Invest in SIP
SIP always comes out with a clear time defined goal. More time than you spend on equity, the more you will earn with the help or the power of compounding.
Dhanteras referred to as the auspicious day to invest in different financial assets such as bonds and fixed deposits that will provide great returns by the time. Stick to your goals and make sure you and your family are protected completely in this festive season.
Views expressed in this article are the personal views of Naval Goel (CEO & Founder of PolicyX.com).