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One can also become rich with low salary and little savings.
For this it is necessary that you invest money at the right place and at the right time.
However, there are only a few people who are able to choose the path of right financial planning.
That is why, in the new year, we are telling about good financial planning.
Big financial experts of the country tell that before investing the earning of blood and sweat, one must know the requirements of every month, age, salary, risk profile and investment plan.
If you save Rs 3200 every month and you get 10 percent return on this amount, then after 30 years you will have about 72 lakh 94 thousand rupees.
That is why instead of keeping the savings amount in the salary account, keep it in another savings account.
Invest that money in different places.
Various saving schemes of post office and banks are the easiest and safest option.
Along with this, stock market, mutual funds, PPF, insurance and LIC are good return options.
Today we are telling you about 7 such options, where you can become rich by investing
(1) Stock Market
The bullish phase in the stock market continues.
Sensex and Nifty are constantly touching new heights in this boom.
But in the boom of the market, retail investors often complain that they missed out on making money in the market rally.
Now the question arises that with which strategy common investors can make money with low risk.
However, if we talk about guaranteed returns, then there is no guarantee of returns in the stock market.
But if the right investment is chosen, your money can grow faster than other asset classes in a very short span of time.
Whenever investing in equities, keep in mind that your investment should be diversified instead of putting the money in one place.
This reduces the risk.
If you are an aggressive investor then the stock market can be a better option.
It is necessary to open a demat account in this.
Earning money in the stock market is considered the most difficult, but a person has made a huge net worth of Rs 10 thousand crores with a capital of Rs 5000.
This Indian is Rakesh Jhunjhunwala, popularly known as Warren Buffett.
Rakesh Jhunjhunwala works on buy right and hold tight theory.
They often say that one should invest in business and not in any company.
Also, be happy with your gains, but accept the losses with a smile.
Read the market properly and know the history.
Porinju Veliath of Equity Intelligence India, who has given 33 per cent annualized returns in the last 12 years.
It is clear that if he had invested Rs 10 lakh in 2002, he would have had Rs 3 crore today.
This is the reason why Forbes has included Porinju in the list of Wealth Wizards.
Porinju has bought shares of Balkrishna Paper in the last quarter.
His stake in the company has increased from 1.02 per cent to 1.06 per cent.
At the same time, he has reduced the stake in IZMO from 1.23 percent to 1.18 percent.
(2) Mutual Funds
The boom of the stock market attracts every investor towards it.
But their nervousness increases with the risk of the stock market.
In such a situation, investing money in mutual funds can be a good option for investors.
Experts say that mutual fund money is also invested in the market, but in this, a knowledgeable person does this work for you, which reduces the risk of the market.
Mutual funds are a better and safer option to increase wealth in the current era.
Through mutual funds, the investor has the opportunity to invest money in different equities or asset classes.
This diversifies the portfolio of the investors.
Investing in mutual funds is done under the supervision of a skilled fund manager, hence the risk is low.
It has 3 segments Equity, Debt and Hybrid.
To choose the right mutual fund, first of all you have to decide what is your investment objective, how much you can invest and for how long you can stay in it.
If you want to invest for a year or two, then there will be separate mutual funds for that.
If you want to invest for 5, 7, 10 years or more, then there will be other mutual funds for that.
It is clear that the choice of the right mutual fund depends on what is your investment tenure.
For example, if you are investing for a short term, you can choose a debt fund or a liquid fund.
On the other hand, if you are investing for the long term, then equity mutual funds will be right for you.
government guaranteed profit scheme
If you find investing in the stock market and mutual funds risky, then you can take advantage of the government's small savings schemes.
(3) Post Office Monthly Income Scheme (POMIS)Post Office Monthly Income Scheme is a better investment option, which gives an opportunity to earn monthly.
In this, returns are guaranteed, where your money grows at a fixed interest.
It is getting interest at the rate of 7.6 percent per annum.
In this, a person can invest from 1500 to 4.5 lakh rupees, while the investment limit under the joint account is 9 lakh rupees.
(4) National Pension System (NPS)The National Pension System is being managed by the Pension Fund Regulatory and Development Authority (PFRDA).
This is a better option for retirement planning, in which you can arrange monthly pension through investment, while lump sum fund is also available.
Here your investments are put in FDs, Equity, Corporate Bonds, Government Funds and Liquid Funds.
Investments made in this can also take advantage of tax exemption under section 80C of income tax.
(5) Public Provident Fund (PPF)PPF is one of the most popular investment instruments in India.
PPF account can be opened in a bank or post office.
It has a maturity period of 15 years.
This account can be opened with Rs 500 and the maximum amount that can be deposited in a financial year is Rs 1.5 lakh.
It can be extended further for another 5 to 5 years.
PPF account is currently getting interest at the rate of 7.9% per annum.
(6) FD- Fixed DepositBank Fixed Deposit is a very popular medium of investment in India.
FD account can be opened in any bank or post office.
It has the option of investing from 7 days to 10 years.
In this, your money gets deposited at a fixed interest.
It has been kept in the low risk investment category, where the risk is very low.
Most banks are offering interest between 6%-8% on 5-year FDs.
(7) Invest money in gold (Gold Investment)Keep at least 5 per cent of your portfolio in gold.
Gold prices rose 22 percent in 2019 due to the trade war between the US and China and several changes.
However, due to the improving conditions regarding the trade war between the US and China, gold prices have also come down recently.
But due to many more fundamental reasons, gold is likely to remain bullish.
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