It is common for young professionals and millennials to disregard saving for the future when they have a well-paying job, good health, and comforts at hand. No matter how old or young you are, it is never too late to start. People tend not to think about long-term financial goals when they have credit cards and instant loans. There cannot be enough emphasis on having investment goals and saving diligently to achieve them.
By the end of your investment horizon, you will have more money than you had at the beginning of your investment. Investment is a tricky subject. Some people believe that you should invest early and often, while others believe that you should only invest when you have a specific goal. There is no right or wrong answer, but certain types of investment will make you rich in your 30s in India.
Listed below are some of the best investment plans which will make you rich in your 30s
Equity mutual funds
Mutual funds are a type of investment where your money is pooled together with other investors and then invested in various assets such as stocks, bonds, and other securities. Equity mutual funds are a type of mutual fund that invests predominantly in stocks. Since stocks are more volatile than other types of investments, equity mutual funds tend to be riskier. However, they also have the potential to provide higher returns over the long term.
Real estate
Real estate is another investment that can make you rich in your 30s in India. Unlike stocks and mutual funds, real estate is a physical asset you can see and touch. Therefore, investing in real estate can provide you with a stable source of income and the potential for capital appreciation. Additionally, owning your property can give you a sense of security and pride in ownership.
Fixed deposits
Fixed deposits are a type of investment where you deposit your money, such as 2 crore fd, or 2 crore FD, into a bank or financial institution for a fixed period, usually 1-5 years. During this time, the institution pays you interest on your deposit. Then, you can withdraw your money or reinvest it for another term at the end of the fixed period. Fixed deposits are considered a safe and secure investment option, as the government backs your money.
Gold
Gold is a precious metal used for currency and investment for centuries. Gold is considered a haven asset, as it tends to hold its value even during economic downturns. Investing in gold can provide you with a hedge against inflation and the potential for capital appreciation. Gold can be purchased through coins, bars, or ETFs.
Bitcoin
Bitcoin is a digital currency not backed by any government or central bank. Bitcoin is considered a highly volatile asset but has the potential for high returns. Investing in Bitcoin can be risky, but if you are comfortable with the risks, it can be a lucrative investment.
Commodities
Commodities are goods such as grains, metals, and oil traded on commodities exchanges. Commodities are considered a hedge against inflation and can provide you with the potential for capital appreciation. Of course, the trade of commodities can be risky, but if you are comfortable with the risks involved, it can be a profitable investment in the long run.
Debt mutual funds
Mutual funds are another types of investment scheme that allows you to pool your money together with other investors and then invest your money in different types of assets, such as stocks, bonds, and other types of investments, according to your individual needs and preferences. Debt mutual funds are a type of mutual fund that invests predominantly in debt instruments such as government and corporate bonds. Since debt instruments are considered less volatile than stocks, debt mutual funds tend to be less risky.
Savings account
A savings account is a type of bank account that allows you to earn interest on your deposited funds. Savings accounts are a safe and secure investment option, as the government backs your money. However, the interest rates on savings accounts are typically lower than other types of investments.
Certificate of deposit
A certificate of deposit is a type of bank account that offers higher interest rates than a savings account. Certificates of deposit are a safe and secure investment option, as the government backs your money. However, the interest rates on certificates of deposit are typically lower than other types of investments.
