Diwali is considered to be one of the most auspicious days in Indian culture, and any investments made on this day are said to bring good fortune. So, if you are new to investing, let Diwali be a start to your wealth creation journey. In this article, we will look at 5 ways to start your investment journey this Diwali to build a bright and financially stable future.
5 Ways To Start Your Investment Journey This Diwali
#1 Invest In Gold Or Silver
Gold and silver have been the most sought-after investment avenues for generations, especially during the festive season. You can start your investment journey by purchasing gold or silver coins. This Diwali, you can also choose to purchase gold and silver jewellery, or you can start investing in digital forms of gold like gold ETFs, e-gold etc.
Also Read: 6 Ways To Invest In Gold
#2 Invest In Equities
A lucrative way to invest and grow your money is by investing in shares of listed companies. Equities have the potential to generate multi-fold returns in the long run. On the eve of Diwali, both the National Stock Exchange and the Bombay Stock Exchange are open for trading for a window of approximately 1 hour. This trading session is called ‘Mahurat Trading'. Investing in stocks on this day is said to be auspicious.
Also Read: How To Invest In Stocks: A Beginner's Guide To Stock Market Investment
#3 Invest In Mutual Funds
Mutual funds are a great way to start investing your money as they offer handsome returns, diversification of portfolio, ease and flexibility of investment. Regular investments in mutual funds can help you create wealth in the long run. Based on your financial goals, you can choose to invest in debt funds, equity funds or hybrid funds. However, it is advised to do thorough research and then invest in mutual funds as they are subject to market risks.
Also Read: 5 Common Mutual Fund Mistakes To Avoid
#4 Invest in Public Provident Fund
If you have a lower risk appetite and prefer investing in safer investment avenues, you can opt to invest in the government-backed Public Provident Fund, popularly known as PPF. PPF is a small savings scheme that is also tax-free. You can open a PPF account at any post office or registered bank and earn compounded returns on your invested amount.
Also Read: Public Provident Fund: Features And Benefits
#5 Invest In IPOs
Other than the options discussed above, another great way to start investing your money this Diwali is Initial Public Offerings or IPOs. Many leading companies are coming up with their IPOs to list their shares in the stock market. However, you must study the company you wish to invest in carefully before you apply for its IPO.
Get updates on the upcoming IPOs here.
Summing Up
Do not put all your eggs in one basket. This stands true for your investments as well. Investing all your capital in a single instrument can increase your risk, and you may end up losing a substantial portion of your investments.
So, this Diwali, start your investment journey by first preparing a financial plan and then investing based on your financial goals. Do not get carried away to invest your money merely on hearsay. Consult an expert who can guide you in the right direction.
Happy Investing!
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