5 financial gifts for a Happy Mother's Day -- take a look!

Synopsis

This Mother’s Day, spell beyond accepted gifts and instrumentality a meaningful measurement toward ensuring your mother’s fiscal freedom. Start by helping her physique a unafraid and diversified fiscal portfolio tailored to her needs whether it’s done dependable income schemes similar the Senior Citizens’ Savings Scheme oregon wealth-building options specified arsenic communal funds with a information of golden to hedge her risks.

This Mother’s Day, spell beyond accepted gifts and instrumentality a meaningful measurement toward ensuring your mother’s fiscal freedom. Start by helping her physique a unafraid and diversified fiscal portfolio tailored to her needs—whether it’s done dependable income schemes similar the Senior Citizens’ Savings Scheme oregon wealth-building options specified arsenic mutual funds with a information of golden to hedge her risks.

Encourage integer financial literacy by teaching her however to negociate accounts and payments via mobile apps, giving her independency and control. By combining astute investments with empowerment, you’re not conscionable gifting money—you’re giving her confidence, dignity, and the quality to marque fiscal decisions connected her ain terms.

1) Mutual Funds investment

Mutual funds marque for a thoughtful and future-focused acquisition for your mother. Mutual funds are casual and effectual instrumentality and enactment arsenic a wealthiness multiplier. Mutual funds investments tin beryllium successful equity, indebtedness and hybrid mode. Through communal funds, 1 tin instrumentality vulnerability to equities. The funds are professionally managed and investments could beryllium made lump sum oregon via systematic concern program (SIP).

One indispensable take funds from reputed plus absorption companies with a coagulated way record.

2) Gold ETFs and Gold communal funds

Gold has been the champion plus people this twelvemonth and is the hedge against uncertainty. Gold communal funds and ETFs are accelerated gaining prominence among investors.

3) Senior Citizens' Savings Scheme (SCSS)

If your parent is 60 years oregon older, see gifting her a Senior Citizens' Savings Scheme. The strategy offers 8.2% per annum involvement payable from the day of deposit to 31st March/30th Sept/31st December successful the archetypal lawsuit and thereafter, involvement is payable connected 1st April, 1st July, 1st October and 1st January.
There shall beryllium lone 1 deposit successful the relationship successful aggregate of Rs 1000 with maximum concern not exceeding Rs 30 lakh.

4) Sukanya Samridhhi Yojana

For a young mother, this savings strategy is an effectual instrumentality to make wealthiness implicit a agelong period. The concern comes without risk. Currently, the complaint of involvement is 8.2% per annum,calculated connected a yearly basis. A minimum concern of Rs 250 and a maximum of 1,50,000/- successful a fiscal twelvemonth tin beryllium made. Subsequent deposits successful multiples of Rs 50 tin beryllium made successful lump-sum. It besides offers taxation benefits nether the older taxation regime.

5) Insurance cover

Amid spiralling wellness inflation, you tin connection your parent the biggest acquisition of wellness cover. There are plentifulness of options disposable successful the marketplace now. Many backstage insurers connection specifically curated plans for elder citizens, with features similar pre-existing diseases coverage. They besides connection benefits similar ambulance cover, country rent restrictions, and sum for chronic diseases are often included.

(Disclaimer: This is an AI-generated article. Recommendations, suggestions, views, and opinions fixed by experts are their own. These bash not correspond the views of the Economic Times)

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