new Delhi. Women are now getting empowered in every field. Whether it is earning money or investing smartly, they spend their money only after assessing every aspect. Tomorrow i.e. 8th March is International Women’s Day. In such a situation, women must invest in three products for a strong financial future.
However, before investing there are many aspects that need to be assessed. Investing after assessment will not only reduce your risk but also give better returns. Heavy expenditure on the treatment of serious diseases will also be avoided.
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Flexi Fixed Deposit
Investment advisor Sweety Manoj Jain says that Flexi Fixed Deposits are a special type of deposit scheme. It requires the depositor to manually add money to his deposit account. Its depositors get the benefit of both the liquidity of savings accounts and the higher returns of FDs. Keeping in view the needs of the family, it is necessary for women to have their own emergency fund. For emergencies, women should keep an amount equal to six months’ expenses in a flexi FD.
The special thing is that banks give short term loans of 90 percent of the total amount deposited in Flexi FD, which is easily and quickly available through the online method. It is important to keep in mind that this is a good investment tool for short term. However, this scheme is not as effective for financial goals of more than three years.
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Super Top-up Health Insurance
Super Top-Up Health Insurance is an additional cover for women who already have a health insurance policy. It is available at a very low price and there is an additional cover as well. This gives a lot of relief during the treatment of those major diseases, the cost of which comes to 15-20 lakhs. It is advisable to buy super-top up health insurance to save yourself from huge medical expenses.
understand math like this
In this, super-top up comes in handy when the cost of treatment of any disease exceeds the limit of your general health insurance policy.
If you have a health insurance policy of Rs 10 lakh, which you do not think is sufficient. In such a situation, you can increase its cover to Rs 25 lakh by taking a top-up of Rs 15 lakh.
Suppose you got sick three times in a year. In the first time the cost of treatment was 8 lakh rupees, in the second time 6 lakhs and in the third time 5 lakhs was spent.
In this, the cost of treatment for the first time will be covered by the health insurance policy. After this you will have two lakh rupees left.
2 lakh rupees will be deducted from health insurance policy and 4 lakh rupees from super top-up on expenditure of 6 lakhs.
For the third time, you will be able to pay the full treatment cost of 5 lakhs with the super top-up plan. Even after this, the cover of Rs 6 lakh will be left with you.
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Active Equity Option in NPS
There has been a lot of change in the thinking of women regarding retirement in the last few years. Now she does not think of sitting at home after retirement, but tries to fulfill her unfulfilled wishes. For this, it is necessary to have adequate funds, which is not possible with traditional investments like Employee Provident Fund or Public Provident Fund alone. In such a situation, the selection of active equity option in NPS can prove to be effective. In this, most of your money is invested in equities during the investment period, which gives good overall returns.
understand this assessment
Today you are 30 years old and spend Rs 50,000 every month, then if you retire in 50 years you will need a fund of Rs 3 crore. For this, Rs 48,000 will have to be invested every month.
If you invest Rs 25,000 every month in EPF alone, then in 50 years you will have a corpus of 1.58 crores. But, if you do the same amount in NPS, then according to the return of 12 percent, you will have a capital of 2.50 crores.
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Invest in Flexi Cap, Midcap and Index Funds
Anuj Gupta, vice-president, IIFL Securities, says that in the era of ever-increasing inflation, traditional investment methods like FD are no longer effective. To meet your future financial goals, you must invest 30-40 per cent of your investment corpus in flexicap, midcap and index funds. There is little risk involved. To avoid this, consult a fund manager and invest only after assessing your risk.
Tags: International Women’s Day, Investment, Personal finance, Saving
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