In recent times, plethora of investment opportunities have come up from both the government as well as private institutes. Which one is right for you largely depends on your income and financial goals. Here are few of the investment options with different earning slots:
· Earning between Rs 10,000 and Rs 25,000 per month
Bank Fixed Deposit is your go-to. It is one of the safest options. Plus, given the returns are taxable, it will save you the tax amount being deposited, because the lower your income, lower will you have to pay the taxes.
Next good option is investing in Health Insurance. It’s a must actually. You put a small amount of your income in the policy for the locked tenure. At the end, if something befalls on your health, you will get the proper treatment without worrying about your finances. Also, if they can find a right mutual fund which delivers decent return at low risk, it’s a great option too.
· Earning between Rs 25,000 and Rs 51,000 per month
In this earning slab, equities, bonds and mutual funds are great option. Each of these investment opportunities have some kind of risk, falling in the low and mid-range, which investors can easily cushion.
Also, commodities like silver and gold can be a good option. Pension plans or Public Provident Fund (PPF) are great.
· Earning above Rs 51,000 per month.
There are lots of investment opportunities for than Rs 6 lakh PA. Other than options mentioned above, IPOs are great. Although the risk is high, the returns promise to be just as high. You can also invest in debt equities, bonds and SIPs.
· Earning above Rs 1,00,000 per month.
Your best option is real estate. In fact, for High Net Worth Individuals, real estate is one of the best investment avenues. High-risk equity funds are great option for them as well. Also, keeping in view the current trends, cryptocurrencies has emerged to be a leading choice. The high-risk and high-reward situation involved here can easily be cushioned by people with high income.
Regardless the earning slab you fall into, there are many investment opportunities available for you. Just be smart, avoid saving in bank and put your money to work and grow.