Changes in the latest currency value in terms of devaluation and revaluation is leading to empty packets. The currency value fluctuation is increased the living costs, hike in transport fares of busses, autos, air tickets.
In my case, when I booking tickets online to my hometown almost from past few years, just I paid 900 INR. But from recent days, I am paying travel ticket fare is 1363 INR. The difference amount is 463 RS for single journey to pay from my packet. (This is excluding other expenses).
Now I am focusing on savings in order to balance the income and expenses. Here I am sharing few investment and savings tips to secure the future financial position.
There are risks free and risk based investments schemes exist in India. In the share stock market and commodity, forex trading markets, there is a scope to earn high yielding depending upon many factors. Risk is the shadow of all investments. So It is better to know how to balance risks and good returns.
Depending upon age, there are thousands of saving investment plans making confusion to beginner and regular also senior citizens investors. Based on type of risks, these available schemes are categorized into two categories. They are 1) Risk free investments 2) Risk based investments.
Risk-to-Good Returns investment savings tips:
There are few categories of risk less and risky speculations to earn regular or additional money. They are mentioned as follows:
Risk less and Risky Speculations or Investments | |
Type of risk (in terms of degree of risky nature) | Examples of speculations schemes or plans |
Safe investment schemes or plans | Saving bank account, Certificate Deposits, treasury securities, savings bonds, life insurance, security bonds, recurring deposits, Public Provident Fund, Senior Citizens Savings Scheme, Monthly income schemes and plans, Fixed Maturity Plans, Gold saving investments etc… |
Low Risk based | Fixed deposits, indexed annuities, corporate bonds, money market investments, few types of mutual funds, online Gold trading etc… |
Medium Risk based | Preferred stocks, utility stocks, income mutual funds, Equity mutual funds, blue-chip stocks, residential real estate, forex market trading etc… |
High Risk based | Small and mid-cap stocks, small cap funds, and mutual funds of IT, energy, technology, oil & gas based, derivatives, commodities, buying selling shares, stocks trading etc… |
This above information is to better understanding the available saving investing schemes and plans, type of investment risks and level of risks. | |
During the young age, you can invest money in risk based good returns producing plans. While at retirement age, it is advised to invest in low-risk investments plans and secure savings plans. Before and while plan to investing in selected scheme, it is advised to understand the Investment Risk.
Hoping I covered the fundamental information on need of financial goals, investment goals to meet future expenses and to achieve good financial position. In next coming posting, I’ll cover more information on above same. You can question or share your experience on determining financial investment goals, best performing plans, and ways to meet future needs etc…
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