No matter what your age group is planning for your financial security will help you to be better equipped in handling your family life. As a couple in late 20s here are a few interesting schemes you can invest in.
Insurance
This is a good time to purchase an insurance policy for you and your family. There are several plans you can opt from based on your immediate and future requirement such as health insurance, life insurance, child plan, car insurance, home insurance, motor insurance, protection plans, investment plan, retirement plan, savings plan, to name a few.
Fixed Deposit
This is a low-risk, high return investment. Simply park a lump sum amount in your FD account and earn interest starting from 8.40% on it. Interest income up to Rs. 10,000 is tax-free. While, you can submit Form 15G and Form 15H to save tax on interest income of Rs. 10,000 or more.
Public Provident Fund (PPF)
It has a longer tenor of up to 15 years so the impact of compounding of tax-free interest becomes huge especially in later years. This is a safe investment as interest earned and principal invested is backed by sovereign guarantee.
Other investments such as real estate and gold are other lucrative options you can consider. However, the kind of savings you choose depends on your financial goals both immediate and of the future. Talk to financial planners, your family and check out aggregator sites to learn more and invest wisely.
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About Author:Aman is working in the domain of Investment management in one of the top universities. He has published research papers and case studies in Investment and Fixed Deposit marketplace. He is an avid blogger in the domain of Investment management. you can also find him on social networking platforms. Archives
August 2022
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