today gold rate in Chennai 916, gold rate today port Blair
Everyone wants financial security. However, for most of us while starting out gold seems to be the only form of investment that we somewhat understand. As a result we spend our time tracking things like today gold rate in Chennai 916 or Bangalore hoping for the price to come down in price range we can afford. However, instead of waiting for one type of investment asset to become affordable we could diversify and use that time to invest in other types of things since the ultimate goal is to create financial security. So here we look at some of the best investments for financial security:
- Guaranteed Return plans
You can buy a guaranteed return plan from a bank (and you do need to have an account with one to qualify). These plans promise you a fixed rate of interest, usually a certain percentage per year. They also usually promise that if you put more money into the plan than is covered by your original investment, the bank will pay you back the difference. So, after making the initial deposit, your return is guaranteed; but if you keep adding money, you are taking a risk.
This is not a bad deal: instead of having to worry about making and keeping up to date with investments yourself, you can get a guaranteed return on them. Even though it’s not the most attractive return possible, it’s better than what you’d get from putting the money in a savings account.
- Child plans
It’s always advisable to start early when it comes to planning the future of your child. A child plan is the best way to go about it. You can choose between a life insurance policy or a ULIP that will help build a corpus for your child’s higher education and marriage expenses.
- Retire with dignity
The average Indian does not plan for his retirement. They assume and hope that their children will take care of them once they stop working. The fact is that you may have enough money to live on in your old age, but there’s no guarantee that your children will be in a position to take care of you. So, plan for your retirement by investing in pension plans or traditional life insurance policies.
- Gold exchange-traded funds (ETFs)
Gold ETFs are closed-end funds that require a minimum investment amount. They are bought and sold like normal shares and offer an easy way to invest in gold.
If you don’t want to physically hold your gold, investing in a gold ETF is one option, although you can also buy shares in gold mining companies.
- Gold mutual funds
Gold mutual funds invest primarily in the stocks of companies involved with the production of gold. These can include mining companies as well as jewellers who use gold in their products. While investing in gold funds or Gold ETFs you can use the effort you have put in researching and tracking metrics such as gold rate today port Blair or Mumbai since the prices of gold mutual funds and ETFs would be similar to it. See more.
- Mutual Funds
Mutual funds are popular because they allow you to invest in a diverse portfolio of stocks and bonds with a single purchase. Based on your goals you have multiple choices. For example, an equity fund might track a stock market index like the S&P 500 while a bond fund might track Treasury bond prices. Mutual funds are relatively easy to set up, but there may be extra charges for buying and selling shares in some cases.