Are you worried about being able to save enough for the future, especially after the market fluctuations in 2018? Don’t worry, you can make some smart moves this year and invest in the right plans to build yourself a good corpus. Here are some ways to grow your money in 2019.
1. Stock Market
The stock market is considered to be one of the most profitable and effective investment vehicles for 2019. And, it isn’t as difficult as one might imagine. At the same time, it is important to know that trading shares entails high risk. So, first check your risk appetite and the money you have available for such investment before jumping into this market.
2. Exchange Traded Funds or ETFs
Another way to see your money grow is to invest in ETFs. Exchange Traded Funds are funds that are traded just like stocks. Some of the attractive features of investing in ETFs are easy transactions, buying or selling funds at real-time costs and you can choose to invest in as low as one unit. You can buy crude oil or gold ETFs, or ETFs of public sector companies in India. ETFs are easy-to-invest, transparent and inexpensive investment tools.
3. Equity Funds
Equity funds are funds that invest in stocks. These are usually market-linked mutual funds and great for those who wish to enter the stock market but don’t have the time to monitor the market closely. It comes with amazing features such as diversified portfolio, dividends, capital appreciation, no brokerage, higher liquidity and more. However, equity funds are subjected to market risks too. It is best to use an SIP return calculator to understand what to expect from your investment.
4. Retirement Funds
Do you think it is too early to start planning for retirement? It is never too early to save because the longer you give your money to grow, the more it will grow, due to compounding. There are some excellent retirement funds and schemes that you can invest in for long-term gains and financial security during old age.
Investing your money in a Systematic Investment Plan (SIP) is also a great idea, since you can choose to invest as low as ₹500 a month. It is great also for building a savings habit. You will be creating wealth in the longer-run and will be protected from market risks. So, check out an SIP return calculator and choose your investment amount to meet your long-term financial goals.