Outlook Money
Gold is a favoured investment choice among Indians, offering a secure and reliable avenue with consistent returns. Homemakers have diverse options to invest in gold, including gold coins, gold Exchange Traded Funds (ETFs), or participating in gold savings schemes provided by jewellers.
Real estate presents an excellent opportunity for housewives to cultivate passive income and foster long-term wealth accumulation. Options for investment include acquiring properties directly or investing in real estate mutual funds or REITs (Real Estate Investment Trusts).
Savings accounts serve as a secure and readily accessible investment avenue tailored to housewives. With a fixed interest rate, these accounts can be established at any bank, offering stability and ease of access.
RDs are an accessible saving option for housewives who prefer a systematic approach to saving. By depositing a fixed amount at regular intervals, housewives can cultivate a habit of saving while earning modest returns on their investments.
The APY is an initiative offering benefits to housewives and individuals in the unorganized sector. Through affordable contributions, starting as low as Rs 42 per month, APY ensures financial security in retirement, providing a guaranteed pension amount ranging from Rs 1,000 to Rs 5,000 per month.
SSY is a government-backed saving scheme specifically designed to cater to the financial needs of the girl child. This scheme offers attractive interest rates and tax benefits, making it an ideal option for long-term savings.
PMVVY is a pension scheme targeted towards senior citizens, offering guaranteed returns and regular income post-retirement. While it may seem unrelated to housewives at first glance, PMVVY can be a valuable saving scheme for those looking to secure their financial future during retirement.
Compiled by Syed Muskan