Select Page

The American investment mogul, Warren Buffett, once famously said, “Do not save what is left after spending. Instead, spend what is left after saving.”

Right from the time we’re little, we are all taught that we need to save up money for an emergency or a rainy day. After all, we all strive to avoid becoming bankrupt or dependent on others financially. However, this is often easier said than done. Securing our financial future requires prudence and extensive planning. Thankfully, there are a plethora of financial products that can help us safeguard our financial health. Let’s have a look at what these financial products might be.

Health Insurance

Irrespective of how healthy your diet is and how much you exercise, you never know when an accident or some unforeseen circumstance could land you in the hospital. The rising cost of healthcare could make something as small as a full body check-up incredibly heavy on your pocket. This is why it’s always a good idea to purchase a comprehensive health insurance policy for yourself and your loved ones. A good policy will soften the blow on your wallet, allowing you to focus on getting better instead of worrying about how you will pay off your hospital bills.

Retirement Fund

The ultimate financial goal for most working individuals is to save enough for retirement. There are a plethora of retirement planning options available in the market, with the most common one being the EPF fund. But, given the high rate of inflation, your EPF fund alone will not be enough if you want to upgrade or even maintain your lifestyle after retirement. Ideally, you should calculate the money you’ll need after retirement and invest accordingly. Investing in a retirement plan with assured income in your golden years could prove to be a smart move.

ULIPs

Unit Linked Insurance Plans provide both investment and insurance under a single integrated plan. Under these plans, customers are allowed to move their money between equity and debt funds to maximise their returns based on their personal risk appetite. Apart from providing life cover, there are a number of ULIP benefits that you can enjoy. Being able to manage your risk and rebalance your portfolio, having transparency and making goal-based investments are just a few reasons why these plans are great investment tools to build a corpus for the future.

As we all know, it’s never a good idea to put all your eggs in one basket. If you’re looking to build a nest egg for the future, remember to invest in different avenues to enjoy the best returns possible.

Share
123movies

If you love watching movies online for free, moviebox pro apk is one of the best in the market.

123 free movies cuevana.email