There was a time when money matters were predominantly handled by the man of the house. This scenario has now changed completely. Today women all over the world have become money smart, and just as they walk shoulder to shoulder with men in their professional fields, they have also come to realize the importance of investments. But are the right investments for men and women the same? Well, pretty much. The only difference is the amount of risk a woman may take as opposed to a man. Nobody needs to tell a working woman the essentiality of investing some of your hard earned money, especially in these times of financial crisis and inflation. So, here are some options for you to consider –
- If you are not interested in long term investments and are looking for something that can help your money create profits, options such as fixed deposits, recurring deposits, and mutual funds, and equity may be considered. Fixed deposits are one of the most popular investment options for working women. Since women look for investments that pose minimum risk of losing the money, fixed deposits work best. Not only is your money safe, but it is slowly and steadily growing. You can also get tax benefits for making this kind of investment. If you do not have a large sum of money saved up but wish to have a risk-free investment, recurring deposits is an ideal option. Here you need to deposit a small amount of money each month instead of a lump sum.
- Mutual funds and equity hold higher risk as compared to fixed and recurring deposits. Professional fund managers are responsible for investing your mutual fund amounts in bonds, stocks and securities. While only 60 to 70 percent of the total amount is investing in these options and the rest is put to government bonds, it still holds some risk. On the other hand, equity is risky business. Many lose their life savings wanting to make a quick buck. While there are firms that invest the money for you, unless you are sure about the company and do not mind losing the money, I wouldn’t recommend it. Shares can be a good option if you don’t mind holding onto them for a longer term. As the value of the share grows, you receive your part of the profit in the form of dividends.
- If you have some savings and will not need liquid cash for a few years, consider investing long term in the following options. The one investment each and every woman should give priority to is a life insurance policy. Insurance is indispensable these days. They not only provide you with a sense of security, but also double as investment. Working women have subsidies that they can benefit from and only have to pay small premiums. You can also get loans against your life insurance policy, depending on the amount invested, and also get tax benefits. What more can you ask for! Government bonds are another option that is risk-free. Such securities and bonds also offer higher rates of interest and assured returns.
The best option for investment, especially in developing countries is the real estate sector. If you live in Mumbai, all you have to do is invest in buying some under construction projects in Mumbai or any other commercial hub and see your money grow with each passing day. Commercial property is in high demand and most smart investors are getting a piece of this cake. You can buy a small property and lease it to earn an incredible amount in rent each month. Investing in residential property might also be a good idea at this time.
Mary Ann Thompson is a freelance writer for the Internet. Most of her articles are targeted at professional women. Mary has recently invested in some under construction projects in Mumbai, which is a commercial hub in Mumbai India, and is extremely happy with investment and prospects of profitable returns. She now wishes to follow the investment up with a residential property in the same city.