Nowadays, many women are taking huge responsibility for their earnings and investments. Plan your investment effectively to protect your future as well as to enjoy comfortable post retirement life. Women always consider bigger picture in their minds when it comes to investment their hard-earned money. Saving money is not enough but you have to invest in order to earn more returns.
First think of your short and long term goals in your life. Women need to enhance their art of investment in order to stay independent financially.
• Investment for teenagers
As a teenager, woman will not have much money in hand but if you avoid your unnecessary expenses, then you can easily save some handsome amount of money of pocket money. There are many plans available in the market which helps you to achieve your short-term goals. Also, it will help you to develop your savings habit.
• Investment in your 20s
During this age, women decide about their future and career. This age is good to take more risk and hence, equities may turn a good investment choice. Investing in mutual funds is the good idea to reach your long term goals. If you buy a suitable health insurance plan online, then it will take care of your medical emergencies. Liquid funds are also useful to invest in because it supports during emergencies.
• Investment in your 30s
At this age, women are married and plan to have kids. Therefore, they become more responsible to protect future of their family. Select online term insurance plans and mutual funds for complete protection as it performs well. In the market, you get many educational child plans for your child and tax savings plans for yourself. You can also invest in real estate property or gold for long term growth.
• Investment in your 40s
At this stage of life, try to improve your savings for your retirement, child’s higher education and marriage. This is the appropriate stage to build or buy another house.
• Investment in your 50s
Invest in funds which involve minimum risk because you will be in your retirement phase so try to shift some part of your investment in debt.
Women who crossed 60 years of age start invest in senior citizen savings plans. FDs and bank deposits will you an opportunity to enjoy more returns.