Financial gifts you can give to your sister this Raksha Bandhan
Hello friends! Raksha Bandhan-our one of the most popular festivals is here. Raksha Bandhan is a celebration of bonding between brothers and sisters. A sister ties a Rakhi to her brother's wrist wishing him a healthy and prosperous life ahead. The brother in return gives her gifts as a token of love.
Have you decided what gift you will give to your sister this Raksha Bandhan? Chocolates, clothes, jewellery, gadgets, cosmetic kits and so on......? But have you thought how long will all these things be useful to them; how long will they be able to keep them happy?
This year, the best gift for your sister would be financial security, something that lasts forever. As the meaning of Raksha Bandhan is to protect, to give security, so this Raksha Bandhan, give such a thing which will continue to grow throughout life and will be useful to them in future. This Raksha Bandhan, why not give a financial gift that can really help secure her financial future.
So, here are best financial gifts that you can consider for your sister this Raksha Bandhan to make her financially secure. Let’s know in detail: -
Mutual fund: Mutual Fund investment is a great gift for your sister. Invest in Mutual Fund through SIP. It can be an efficient way to fulfil your sister's ambitions, and SIPs are a systematic technique for you to assist her in building that corpus. It allows you to invest a certain amount of money regularly, you get an option like monthly or quarterly, rather than all at once, enabling you to plan for multiple financial goals at the same time.
Life or Health insurance: Health is real wealth. You can buy a life or health insurance for her. You can also pay premium for an insurance policy on your sister’s behalf to protect her from uncertainties. Get an Insurance Policy in her name. As a hospitalization cost is raising that can deplete savings and investment returns quickly, a health insurance plan would help to mitigate the financial effect of health-related concerns at the very least. So, obtaining a complete health plan with at least Rs. 5 lakhs of coverage and cashless treatment will come to your sibling's rescue if they ever encounter a health difficulty.
Gold ETF: Gift your sister Gold ETF. These are funds which invest in gold and represents ownership of gold assets. Gold ETF is a great investment choice if buying physical gold is inconvenient. In this the purity of the gold is also guaranteed, and each unit is backed by physical gold of high purity. Gold ETF is also a tax-efficient way to hold gold, as the income earned from them is treated as long-term capital gain.
Invest in Stocks: Gifting stocks is also a good idea. You can gift stocks of good company with long term investment in focus. The investments in the stocks would help her outperform inflation, reach financial goals, retirement corpus, and the list goes on. In addition, stock SIP would also be the best option, with benefits like pocket-friendly investing, a disciplined way of compounding wealth, price averaging, and skipping the hassle of timing the market. You should discuss with your financial planner for better plan.
Fixed Deposit (FD): FD is also another best option if you want to invest at fixed return. You can make a fixed deposit for your sister. FD remains an excellent choice of saving money with low risk and good returns. It will provide your sister with financial freedom and give her higher interest than a savings account. She can also use this money as an emergency fund whenever needed. This can help her become financially smarter and more financially self-sufficient.
Conclusion: -
Raksha Bandhan is the best time to give your sister these useful financial gifts and make her financially secure. Also discuss with her how to manage money, investments and taxes, and encourage your sister in taking steps towards financial independence.
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