Encourage digital monetary literacy by educating her easy methods to handle accounts and funds by way of cell apps, giving her independence and management. By combining sensible investments with empowerment, you’re not simply gifting cash—you’re giving her confidence, dignity, and the power to make monetary choices on her personal phrases.
1) Mutual Funds funding
Mutual funds make for a considerate and future-focused present in your mom. Mutual funds are straightforward and efficient instrument and act as a wealth multiplier. Mutual funds investments will be in fairness, debt and hybrid mode. By mutual funds, one can take publicity to equities. The funds are professionally managed and investments might be made lump sum or by way of systematic funding plan (SIP).
One should select funds from reputed asset administration corporations with a stable observe report.
2) Gold ETFs and Gold mutual funds
Gold has been the most effective asset class this 12 months and is the hedge in opposition to uncertainty. Gold mutual funds and ETFs are quick gaining prominence amongst traders.
3) Senior Residents’ Financial savings Scheme (SCSS)
In case your mom is 60 years or older, contemplate gifting her a Senior Residents’ Financial savings Scheme. The scheme presents 8.2% every year curiosity payable from the date of deposit to thirty first March/thirtieth Sept/thirty first December within the first occasion and thereafter, curiosity is payable on 1st April, 1st July, 1st October and 1st January.
There shall be just one deposit within the account in a number of of Rs 1000 with most funding not exceeding Rs 30 lakh.
4) Sukanya Samridhhi Yojana
For a younger mom, this financial savings scheme is an efficient instrument to create wealth over an extended interval. The funding comes with out danger. At present, the speed of curiosity is 8.2% every year,calculated on a yearly foundation. A minimal funding of Rs 250 and a most of 1,50,000/- in a monetary 12 months will be made. Subsequent deposits in multiples of Rs 50 will be made in lump-sum. It additionally presents tax advantages underneath the older tax regime.
5) Insurance coverage cowl
Amid spiralling well being inflation, you possibly can provide your mom the largest present of well being cowl. There are many choices accessible out there now. Many personal insurers provide particularly curated plans for senior residents, with options like pre-existing ailments protection. Additionally they provide advantages like ambulance cowl, room lease restrictions, and protection for continual ailments are sometimes included.
(Disclaimer: That is an AI-generated article. Suggestions, recommendations, views, and opinions given by consultants are their very own. These don’t symbolize the views of the Financial Occasions)
