Mother's Day 2024: Top 6 ideas to empower your mother with financial independence
Fund a micro business – In a rapidly changing landscape, women are redefining traditional roles and many are eager to start their own ventures or business, which may require some initial capital to begin with. While gold serves as a crucial security for women and households, some idle gold jewellery can be put to best use to pursue entrepreneurial aspirations. Gold loans can serve as a crucial funding resource in transforming these aspirations into tangible business ideas.
Gold loan presents a promising avenue as it guarantees quick and easy approval, needs zero to minimum documentation, and enables quick access to funds for women entrepreneurs to meet their business or financial needs. Retirement fund – Retirement planning is a significant leg of any financial strategy. These savings will help a mother in being independent and she can be financially secure in her sunset years.
Assist her in opening a retirement account and contributing to it regularly. Depending on risk appetite, the retirement planning instruments can range from investing in NPS, Fixed Deposits, senior’s citizen saving schemes, and even NCDs of best corporates. This will give her a regular source of income with guaranteed returns over years.
Initiating a mutual fund SIP - Opening a mutual funds account in her name with a lump sum amount or through SIPs can give her the option of growing her money faster during her retirement years and having enough resources to be financially comfortable. The selection of SIP can depend upon the future goals of your mother and family, including funding a home, or even taking a dream vacation. Managing medical emergencies through health insurance - Often, women focus so much on caring for others that they overlook their
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