Stock Systematic Investment Plan (SIP)
You might be familiar with mutual fund SIPs, but did you know you can also make SIP investments in stocks? Under this strategy, investors can buy a fixed number of shares or invest a fixed amount in an individual stock on a fixed date of every week, month or year. Basically, SIP is a buy and hold method, which encourages regular savings and also provides tax efficiency. It saves you the hassle of timing markets, protecting your hard-earned money. So, what are you waiting for? Buy a stock SIP in your wife’s name today!
Mutual Fund Systematic Investment Plan (SIP)
SIPs have become the most preferred mode of investments for retail investors as they safeguard them from extreme volatility in the market. You can invest small amounts in your wife’s name, regularly. The amount can be as small as Rs500.
Sovereign Gold Bonds (SGB)
You can continue with the tradition of gifting your wife her favorite yellow metal, albeit in a different form. Unlike gold jewellery, SGBs are more profitable, more liquid and provide tax benefits. SGBs are issued by the Government of India at different points. You can invest in denominations of 1 gm and units are allotted in the form of gold bond certificates. The seventh tranche of SGBs is open for subscription from October 25.
This product helps secure the future of a family in the unfortunate event of untimely death of the main bread-earner of the family. It helps to pay for important events such as a child’s education or marriage, repaying existing loans, among others.
In the post pandemic world, there is increased awareness about investing in one’s health and healthcare. A good health insurance policy can provide cover for large, unforeseen medical expenses and provide some comfort during a health crisis. You can also consider gifting Corona Rashak, Corona Kavach and other health policies to your wife.
This Karwa Chauth, gift your wife one or more of these products and see her smile with pride and contentment.
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The author of this article is Sheetal Agarwal, IIFL Securities