Whenever it comes to future plans we choose career where we can earn money but when we grow older we realise not only earning investment is most important for growing your money for the future For this we need to learn the risk and return skills Now the question arises where and how we can invest your monthly salary. Don’t worry we have answers for all your questions.
How do I invest my monthly salary?
1- FD(Fixed Deposit)-
Fixed Deposit you might have heard about this investment from your parents that they have put some money in the bank as a fixed deposit for your future. When you earn and you wanted to invest this is one of the best and safest sources for earning interest on your monthly salary. As this includes low risk and it’s safest. But remember as it includes low risk so it also include low return because your return on your investment depends on risk factor, low risk means low return, it has fixed tenure for investment which is totally depends upon banks to banks and this is one time investment scheme.
2- Saving account-
Saving account is always the evergreen and safest Option when anyone wants to save some of its money from monthly salary.For opening the account you can contact your bank and they can help you open a savings account .This type of account will not give you more interest but yes it will definitely help you to save some of the money. The risk is nil when your money is in saving account.
Gold is the most wealth increasing commodity. You could have heard earlier people use to buy gold when they want to invest their money for earning a Profit on it. Because they know in the future the rate of gold will always increase. And in today’s time the rates of gold is increasing day by day and if you want to invest in gold you can invest because it is the safest investment with very little risk. But the one drawback is you need to store it in the safest place and that place can be banks only. Keeping gold in house may be risky because it can lead to theft.
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4- Real estate-
Real estate means putting your money in housing sector or in property. Property rates can be fluctuating but this mode of investment can give you a high rate of return which means it involves great risk. This investment may be a little difficult for people who don’t have any idea of legal factors and conditions because this investment involves many legal documentations. If your salary is high and you can do long term investment for min 10-20 year then this mode of investment is best for you. High salary means after deducting all your salary if you think you have enough amount to save then we can call it as a high salary. This investment involves risk but if it works it could be a gold for you.
This is an investment which you can make in your current bank or any other bank. SIP means systematic investment plan. In this plan your salary will be deducted directly from your salary account every month systematically. Deduction can be of 500-1000 or 5000 depends on your earning and investment plans. We can earn interest on this investment method but not high interest it would be the same as bank and it also depends on your monthly SIP investment. This is the best kind of Saving/ investment for all who have low salary and wanted to save some of their amount every month and can’t investment lump sum amount.
Government bonds, when ever in anything government involves it became the safest thing among all the investments, these kinds of bonds help government to use it for the country and when we invest in government bonds it also. Investing money in government bonds can be the best and safest investment you can do. This investment involves low risk and medium return.
7- Stock market-
Stock market is a market consists of shares of many companies.This market put all your money in a growing company and that money they invest more and then give you the returns.If you have good source of earning and cam take high risk you can go for this investment. As we know high risk means high returns. But this market involves many factors which you need to educate yourself and after learning those factors only you can earn high returns by investing in the stock market.
8- Mutual funds-
Like stock market investment your money in one company only likewise mutual fund is also an investment that investment your money in companies only but they make a group of small small investments from many people income and then invest in many companies by using their techniques. The amount of investment starts from very low range of 100 rs also and it can be as maximum as you want. There are many options of investment in mutual funds you can choose according to your rate of return and risk involved.Their are high return giver funds which involves high risk, their are low return funds with low risk and it many other options. You can do this investment by yourself also after educating yourself on factors involved in mutual funds for earning high interest rates. This could be a good option for low earning section also.
Insurance is the most important form of investment which everyone should do for securing their future. Insurance can be of many types like, life insurance, Health insurance , car insurance and many more. This investment also may vary as per your earnings ie your monthly salary. The risk and return may vary from type of insurance we choose.
Some of you will say policy means insurance but the answer would be no, because policy and insurance are different from each other. Policy consist of documentation which at present specifies the coverage you would be getting in future but insurance on the other hand is just the repayment or reimbursement if their could be any loss within a choose tenure of insurance.There are many verticals which you can understand choose which may involve high returns but with high risk or visa versa.
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