In today’s era of digitalisation it is not much difficult to save your money using discounts, sales and freebies. But on the other hand growing your money is a difficult task where one needs to be aware about the risk and reward. A decade ago, Fixed Deposits and Gold were the only considerable assets to park your money and see them growing. But in 2024 there are various financial instrument which can be considered to grow your money. Let’s understand what are these instruments and how they can help us.
Fixed Deposits: Love of our parents from decades, Fixed Deposits are a good reserve of investment for almost every individual. You gets fixed interest, negligible risk and liquidity of your money. While the negative about fixed deposit is it rarely beats the inflation. Right now the inflation in India is around 6-7% while the bank interest is 5-6% for normal citizens and 7-8% for senior citizens.
Gold & Silver: Precious metals like Gold and Silver is the second most secured financial instrument of investment. One can get an annual appreciation or interest of 12-18% (Approximately). These investment can be purchased in a physical form as well and in digital form as well like Digital Gold or Gold ETF.
Mutual Funds: Mutual Funds stands the third widest and safest way of investment where you parks your money in a fund group managed by an asset management company and its experts. They drive the maximum potential returns on your money by keeping a negligible cost from it on the name of expense ratio. From past 5 years mutual fund investment is growing a CAGR of 114% which makes it a positive method of investing and growing your money.
Corporate Bonds: Corporate Bonds are the safest way to lend your company to companies under the surveillance of regulatory bodies like SEBI and RBI. You lends your money to companies against bond where you gets a fixed annual return along with part payments of your investment.
All the above mentioned investment sectors will help you to grow your money with low risk and better rewards. The above mentioned information is for information purpose. Please seek guidance from your financial advisor before investing.