Smart Money Investment Ideas That Can Help You Create Generational Wealth

It is almost impossible to rely just on our earnings in today’s time and age. The rising inflation rates and cost of medical expenses, child’s education and marriage, etc., have made it highly difficult to manage our expenses and save for the coming years. Moreover, our life is full of uncertain and unforeseen events. Unforeseen events such as the untimely demise of the breadwinner or if the breadwinner gets diagnosed with a critical illness that restricts him from earning for his family can cause financial and emotional hurdles for his family.

Opting for smart money investment ideas can be of great help in today’s time and age. They provide financial security and help you generate wealth in the coming years. So, if you are looking for smart money investment ideas to help you with financial security and wealth generation, you have come to the right place. This article talks about a few smart money investment ideas you can consider to generate wealth.

A. Unit Linked Insurance Plan (ULIP)

• Unit Linked Insurance Plan (ULIP) is one of the best money investment ideas you can consider.
• This plan provides a dual combination of life insurance as well as wealth generation.
• ULIP plan provides financial security and the benefit of investing your money in market-related investment options, such as stocks, bonds, equity, shares, etc., for wealth generation.
• Another key feature of this plan is that it provides a lump-sum amount of death benefits to the family in case of an untimely demise of the policyholder (or breadwinner).
• ULIP plan offers the policyholder a lump-sum amount of tax deduction benefits. The policyholder can claim upto Rs. 1.5 lakhs of tax deduction benefits in one financial year as per Section 80C of the Income Tax Act, 1961.

B. Fixed Deposits (FD)

• Fixed Deposits (FD) are another one of the best money investment ideas in India.
• This investment plan offers great returns compared to other investment plans.
• You can invest your money in Fixed Deposits for tenure ranging from 7 days to 10 years.
• This plan offers guaranteed returns, and the rate of interest also remains constant throughout the tenure of the policy.
• The policyholder can claim tax deduction benefits of upto Rs. 1.5 lakhs in one financial year as per Section 80C of the Income Tax Act, 1961.

C. Public Provident Fund (PPF)

• Public Provident Fund (PPF) has become one of the most preferred money investment ideas in the past couple of years.
• This plan comes with a lock-in period of 15 years, and the policyholder can also extend the policy’s tenure by 5 years if he wishes to.
• In case of a financial emergency, the policyholder can make partial withdrawals after the 6th year of the policy.
• PPF offers a lump sum amount of death benefits to the family in case of an untimely demise of the policyholder.
• The policyholder can claim tax deduction benefits of upto Rs. 1.5 lakhs in one financial year as per Section 80C of the Income Tax Act, 1961.

Your Way Forward

You now know the best money investment ideas in India you can consider for wealth generation. Opting for these money investment ideas will provide financial security to you and your loved ones and provide you with a platform to invest your money as per your risk appetite.

Bharti AXA is a leading insurance providing company in India and is trusted by numerous people. We provide the best money investment ideas for you to consider, including a claim settlement ratio of 99.09%, 24x7 customer care, and more.

For more information on money investment ideas get in touch with us today.