Last Updated on 17/08/2024 by wccexam Desk
The festival of Raksha Bandhan is the most auspicious and popular festival of brothers and sisters, which is celebrated with great pomp in India. This year Raksha Bandhan will be celebrated on 19 August 2024. Cash, jewellery and clothes etc. are given as gifts on Raksha Bandhan, but many experts believe that mutual funds, fixed deposits and other gifts can give financial freedom to brothers and sisters. Experts say that not only brothers, but working sisters can also give these gifts to their younger brothers.
Mutual Funds
By contributing to mutual funds in your sister’s name, you can help her achieve her financial goals in the long term. Elder sisters can also do this for their younger brothers. Mutual fund investment can be made through lump sum amount or SIP. You can start investing in mutual funds with a lump sum of Rs 1 lakh or through SIP of Rs 2000.
Investing in stocks
Equity investment is money that is invested in a company by buying shares of that company in the stock market. Gifting stocks on Rakshabandhan can be a good and far-sighted gift. However, you can take the help of a financial advisor before buying the stock of a company.
Gold and silver coins on Rakhi
You can also gift gold and silver coins to your sister or brother on Raksha Bandhan, because we have seen for some time how high the prices of gold and silver have reached.
Gold ETFs
You can gift your sister a gold ETF instead of gold jewellery. In 2024, gold funds have given a good return of 9.31%. Investment in gold exchange-traded funds (ETFs) increased to Rs 1,337.4 crore in July 2024, the highest since February 2020.
Fixed Deposit on Rakhi
FD is a safe gift option for Rakhi. It gives guaranteed returns on investment. In this way, you can make a great way to contribute to your sister’s financial security and future planning. Gifting FD gives her a stable investment. Investing in it for a long term can make a lot of money.
(Note- Before making any kind of investment, please take the help of your financial advisor.)
Source (PTI) (NDTV) (HINDUSTANTIMES)