Financial Independence for Women: Top Investing Tips for Your Other Half to Make Them Financially Independent – Zee Business | Vette Leader

Financial independence for women: Financial independence is very important for everyone and even more so for the remaining half of the population, namely women. In this special edition of Money Guru, Zee Business’s Swati Raina speaks with Prableen Bajpai, Founder Finfix Research and Shweta Rajani of Anand Rathi Wealth Management to learn more about women’s investing preferences and where to invest to optimize profits. The show is designed to prepare women to take on informed personal finance as India celebrates its 75th anniversary.

Financial planning for women

Where do women generally prefer to invest?

Financial independence for half of the Indian population

women in finance

Improving the gender gap at the global level

Pay gap in India in the financial sector at 18 percent

In certain areas, the gender pay gap is as high as 26 to 28 percent

Globally, women are more prominent as unpaid workers

Financial Independence of Women

challenges

– Less involvement in financial decisions

– behind the curve in financial literacy

– lower labor force participation

– Gender pay gap a major problem

– career break for personal reasons

Finfix survey – investment preference of women

Fixed income securities such as FD, PPF are among the most important investment vehicles

59.4 percent interest in fixed income instruments

Rather buy physical gold

At Lead, 48 percent of women depend on men for their financial decisions

11 percent women seek help from financial advisors

Goals largely related to retirement, raising children

Women are now more interested in being self-employed

36.5 percent of women have no savings of their own

Why investing is important for women

– career break

– Small working range

– Gender pay gap

– long life expectancy

investment behavior of women

– Spending around their children

– low willingness to take risks

– very calculated in investments

– Do not make investment decisions spontaneously

– Not greedy for returns

– Favor investments in physical gold

– Show keen interest in buying gold jewelry

Can generate a handsome income by investing in other gold instruments

Sovereign Gold Bond is a good option to invest in gold. It’s safe and offers 2.5 percent interest on the investment
Gold Investment Fund and Gold ETF are other good options, but they come with risks.

Women need to take care of their health

Schedule required for single mothers
Health insurance also required for unmarried women
Married women must also complete health plans and critical illness plans.
Include the maternity benefit plan in the health plans

Money tips for women

– Set financial goals

– Set income to investment ratio

– First investment and then expenditure from income

– Create a monthly budget

– Invest in the right asset class

– Long-term goal – Equity to debt ratio of 80:20

– Medium-term – Equity to debt ratio of 70:30

– Obtain adequate medical and life insurance

– Form an emergency fund

– Check your portfolio

– Be financially conscious

Formula for financial independence

Save some from every monthly salary

Save at least 20 percent income

Invest the savings in the right place

Income doesn’t increase just by staying in the bank account

Invest your money where income can beat inflation

Maximize benefits by investing for the long term

Investing in stocks brings higher returns over the long term.

The earlier you invest, the greater the benefits of the power of compounding

Gradually increase the investment amount

Never stop investing at any cost.

Where to invest

Invest in equity through mutual funds

You can start investing in good large-cap funds

New investors can invest in index funds

Diversify your investments

Invest in debt funds for a short duration

Make gold part of your portfolio

Investment in gold may not exceed 10 percent of your total investment capacity

See full video here:

Avoid these dependencies

Try to stay out of debt

Don’t use your credit card too often

Avoid too many credit cards

Getting a personal loan should be at the bottom of your priority list

Higher interest rate on personal loans than secured loan

Avoid investing when returns are low

Don’t run after options that promise instant returns

Invest according to your goals

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