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New Delhi: Raksha Bandhan is around the corner, and the festive season vibe is starting to kick in. The traditional method of gifting to your sibling used to be gifting jewelry, clothes, or luxury items. As time changes and the know-how of financial literacy increases, siblings now are exploring financial savings and instrument options for securing the long-term future of their loved ones while simultaneously making Raksha Bandhan memorable.
On this occasion of Raksha Bandhan, give your best gift to your siblings in the form of mutual funds, stocks, gold ETFs, fixed deposits, etc. These gifts offer sustainable creation of corpus over time, while simultaneously building safety nets and offering financial literacy alongside.
An SIP is one of the first ways to help your siblings start investing and their investment journey. A small amount of investment is made every month to build a corpus of funds over the long term. SIP encourages financial discipline and enhances financial exposure to the market dynamics.
Not just financial health, pledge your siblings good and prosperous health in this Raksha Bandhan. Gifting your sister a health insurance policy is a powerful way to better protect her good health. This caring gesture reflects care and farsightedness for the better welfare of your siblings. It protects your siblings against rising medical costs while simultaneously powering her in times of financial emergencies.
Gifting gold and its jewelry has been a long-form and cherished tradition in Rakhi. Upon the arrival of digital gold, this tradition has transformed too. It allows for a purchase of gold in small units/grams. The purchased entity is stored in vaults and could be redeemed later. The concern for its physical storage is no longer in the digital gold.
Gold ETFs are another smart alternative to physical gold. These are the units that trade in gold and are traded on the stock exchange. These investment tools offer the luxury of zero gold storage charges, nil making charges, leverage of high liquidity, and the latest bullion prizes. It is a suitable gift for the siblings because gold is always the best alternative for portfolio diversification.
If your sister is starting out on her financial journey, opening a savings account or a Demat account in her name can be a great first move. A savings account supports better money management and helps her earn basic interest, a Demat account will enable her to store stocks, mutual funds, and ETFs in digital form.
(Disclaimer: This article is only meant to provide information. TV9 does not recommend buying or selling shares or subscriptions of any IPO, Mutual Funds, gold and crypto assets.)
