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In a highly unpredictable economy, it is important that individuals understand the need for a constant income stream. The ever-rising cost of living and risk in job security can only be tackled with the help of multiple streams of revenue, through prudent investments which supplements regular income that an individual earns.
It is important to plan ahead and understand the impact which present financial decisions will have in future. While predicting the amount of wealth one can create is virtually impossible, planning for a future where your financial decisions can ensure that you can survive even in the face of adversity is a very real possibility.
However, with numerous options, it becomes puzzling to decide which investment suits your needs best. From a riskier market linked plans to guaranteed# monthly income insurance plans in India, here are five lucrative investments that can help you earn a monthly income.
Mutual funds are investments where a pool of money collected from a large number of investors is used to invest in a diverse set of asset classes ranging from debt instruments to stocks. Mutual funds are moderate to high risk instruments with investment period over several years and have historically generated higher returns as against low-risk investments. Mutual funds can be explored if a financial plan is constructed keeping wealth accumulation in mind and are suited for individuals who are ready to take a little volatility in their investments.
Mutual funds also offer a Systematic Withdrawal Plan (SWP) that redeems units held by the investor each month. Overall, MFs are an attractive investment opportunity with no cap on the amount of investment.
Fixed Deposits in Scheduled Banks are one of the safest investment instruments available to investors in the country. FDs offer mid-high single digit interest rates on investments, where the interest earned can be withdrawn on a regular basis, effectively giving investors the option to invest their money into highly secure investments and receive an assured monthly payout.
Fixed deposits in Scheduled Banks have remained the preferred investment for the majority of people and for a good reason. Fixed deposits are an easily accessible opportunity and are a great option for earning income from investment without the fear of losing your money to market fluctuations. Fixed deposits are also guaranteed by the government up to a predetermined amount, further securing your money.
The securities market has mostly outperformed prevailing market FD rates, physical assets and even inflation. Stocks are a great way to diversify the portfolio of investors, and with the securities market witnessing rise in index values over long term, wealth accumulation through stocks is usually higher than any other financial instrument. An investor needs to be prepared for volatility when investing in stocks.
Capitalising on the expected rise in the price of securities is not the only option that the stock market has to offer. Dividends are a share of the profit that a company makes in a financial year, which is distributed to the shareholders on a pro-rata basis. Investors can look at shares of companies that offer dividends on a regular basis and maintain strong fundamentals to ensure the regularity of such income.
Another investment opportunity for a regular monthly income is a guarantee# income insurance policy. These are life insurance policies that offer the investor the opportunity to receive a fixed monthly payout after the maturity period. Life insurance plus saving is a great way for you to secure the future of your family and also maintain financial security at the time when you retire.
Unforeseeable events can wreak havoc on your financial condition while simultaneously depleting your savings . To be able to tackle all unplanned eventualities, considering a life insurance plan is important, and with a blend of regular income post maturity, a savings plan can make a noticeable difference.
Individuals interested in such an opportunity can explore Tata AIA Life Insurance Guaranteed Monthly Income Plan (UIN: 110N147V02). With Tata AIA premium, payment is flexible and affordable to ensure that investors are immune to the hardships of financial instability.
Unknown to a lot of people, India Post, the state-run postal service provider of the country, offers a host of banking services to the citizens of the country at reasonably attractive rates. One of the most interesting opportunities at India Post is their Post Office Monthly Income Scheme (POMIS) that allows you to invest money in individual or joint accounts for a fixed period of time and earn interest on the investment in the form of monthly payouts up to maturity period.
. The monthly investment scheme from India Post usually offers higher rates than FDs; however, it comes with a limit on the amount you can invest.
Financial security is important, and covering the cost of living without a supplemental income source can create troubles in the monetary stability of a household. Individuals must take note of their standards of living and accordingly make investments to help them support their lifestyle when unexpected expenses arise.
Regular monthly income is extremely important to ensure that your daily expenses are met, and the survival of a household is never jeopardised even the toughest of times. Income-generating investment not only provides financial stability but also allows individuals to improve liquidity and explore more investment options with a secondary source of income, practically building wealth and ensuring a degree of financial freedom.
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This blog is for information and illustrative purposes only and does not purport to any financial or investment services and do not offer or form part of any offer or recommendation. The information is not, and should not be regarded as investment advice or as a recommendation regarding any particular security or course of action.
Please know the associated risks and the applicable charges, from your Insurance agent or the Intermediary or policy document issued by the insurance company.
Every effort is made to ensure that all information contained in this blog is accurate at the date of publication, however, the Tata AIA Life shall not have any liability for any damages of any kind (including but not limited to errors and omissions) whatsoever relating to this material.