Investment 14 Jul 2017
A working woman defines the very ethos of our modern society. Why not take charge of your hard earned money? Women have always had a soft corner for gold. Wealth, prosperity, status, fashion – in all its forms gold is beautiful. This love for gold can also turn into a lucrative savings plan that works for you.
Let us now see how gold can become a highly effective and profitable investment option for the working women in her 20s, 30s or 40s.
Most people feel that investing in gold requires a huge capital. That is absolutely untrue. You can now invest in gold for as little as Rs.1000 a month. With Gold Monetisation Schemes, Gold ETFs (Exchange Traded Fund) and Gold Accumulation Plans you can look at building your gold bank over a period of time without having to shell out a big amount at once. You can also earn income on your idle gold, while getting various tax benefits.
See your money grow:
With tools like the Gold ETFs, you can be assured of quality, purity and price. You can trade in Gold ETFs just like you would in equities and monitor the value of your gold electronically every day. You can buy and sell online without having to go anywhere physically as long as you have a dematerialized (demat) account.
If you want to flaunt your gold then jewellery is the obvious option but for jewellery you need a fairly large sum. So how do you plan for that? It’s a simple principle. By saving small amounts regularly with a jeweller, you can plan a jewellery purchase through the SIP that the jeweller offers. You can also look at investing in coins and bars of an affordable ticket size every month or every few months. Unlike jewellery, making charges and the other overhead costs will be negligible. You will own your gold and you can then exchange it for jewellery whenever you want. Always check for hallmarking that ensures purity and makes sure you’re getting what you pay for.
What makes gold investment a good prospect for you?
It is a fiscal system under which a nation’s currency's exchange rate is fixed to the value of another country's currency which is convertible into gold at a stable rate of exchange. This system allows any country following it to be able to keep its currency at par with gold without the trouble of maintaining a large gold reserve.
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