raksha bandhan 2024 is an Indian festival where sisters tie Rakhis around their brothers’ wrist as a symbol of protection. Brothers give presents to each other as well to show affection.
Instead of giving your sister the usual cash, jewelry, mobile phones and clothes this year, why not consider something that will guarantee her financial security? A money gift can be used by her to secure her future and may also have long-term implications.
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raksha bandhan 2024; introducing basic investment opportunities.
One of the kindest ways you can assist her is by introducing basic investment opportunities. These may include bonds, Exchange-traded funds (ETFs), mutual funds and shares.
With these options having the potential for growth over time; she will be able to accumulate wealth in due course. You might help her make an opening for IRA or 401(k) and discuss saving money advantageously in a favorable tax environment. It is important to start early since the compounding interest effect can boost her savings significantly.
Risk management assistance and keeping up with regular portfolio rebalancing may also go a long way in defining some partial aspects of her financial path.
According to Siddharth Maurya, Founder & Managing Director of Vibhavangal Anukulakara Private Limited “This Raksha Bandhan, consider gifting your sister financial knowledge and skills.” Instead of traditional presents like these ones let her understand personal finance such as equities, diversified investment portfolios and SIPs (systematic investment plans). SIPs are a disciplined approach to build wealth since they allow you to invest modest sums every month, which over time can accumulate into a sizable corpus.”
raksha bandhan 2024; cash gift ideas for your sister.
“Teach them that stocks grow over long periods but remind them about the importance of thoroughness in research in addition to risk control. And you could even create an SIP for any promising MF or give them shares from a company they love. Mere material wealth is nothing compared to the ability to develop and handle money prudently. Continuing, he said that Raksha Bandhan means securing your sister’s future by arming her with financial knowledge.
The following are some nice and thoughtful cash gift ideas for your sister this Raksha Bandhan:
Cash: Cash is a traditional and flexible gift which can be used by your sister to fulfill her immediate needs and wants.
Investment Fund: Contributing towards a savings account or mutual fund in her name will help her achieve long term financial goals.
Stocks: Gifting stocks look forward with their chances of instant gain as well as keeping them into the future. If given this present, she may learn about stock markets and the concept of making money through investing.
SIPs, i.e., Systematic Investment Plans, make great starting points into mutual fund investments. They’re an investment choice that takes a systematic approach thus making it ideal for a consistent stream of income over time.
Gold/Silver Coins: As a long-term investment and hedge against inflation, precious metal coins are thoughtful and valued gifts.
Fixed Deposits (FDs): FDs ensure returns on investments thereby being secure options as presents. This gift increases her financial security by offering a reliable and safe medium for investment.
By investing in lump sum MFs she gets more diversification opportunities that could eventually boost her fortune under professional management.
Gift Certificate: A gift card for her favorite store or online retailer will allow her to choose what she wants.
The director of Goel Ganga Developments, Anurag Goel, said; “Raksha Bandhan is about protection.” The best way to secure the future of your sister is by introducing real estate investment to her. Since it offers a unique combination of stability and potential for appreciation, real estate has always been considered an excellent way to build wealth.
Your sister invests in real estate because you are passing on an asset that appreciates with time, earns rental income and acts as a haven in unpredictable economic times. Advise her regarding the trends in the property market, the importance of location and compounding effect. If you think about it this Raksha Bandhan giving your sister the knowledge and skills necessary so she can use property as an insurance towards financial independence is a gift truly keeping up with the spirit of Raksha Bandhan.
