Today is Raksha Bandhan and every brother must be thinking of giving her sister an expensive gift on this auspicious occasion.
From smartphones to laptops to expensive clothes, brothers gift their sisters with almost everything on Rakhi. But along with these materialistic gifts, a brother can also give independence, confidence, and freedom to his sister.
Check out four financial gifts that a brother can give to his sister on Raksha Bandhan:
Life is uncertain and this can be said as a sudden COVID-19 pandemic has disrupted the lives of people. To protect your sister from these unprecedented times, it is advisable to gift her health insurance which covers temporary and terminal ailments, injuries and sound boarding her from sudden, huge medical expenditures. That said, the health insurance should have a thorough cover so that she can be protected from the distress of hefty medical bills.
Bling and assets
Instead of jewellery, cars, you can also gift her a financial asset like stocks, mutual funds, Sovereign Gold Bonds (SGBs), gold saving funds, or gold ETFs which in the future can give her brilliant returns over the long run. In this way, you can easily give high-return equity stocks that can earn her good yields in the long run.
This Rakhi, you can gift your sister a SIP or Systematic Investment Plan which can be considered as the best investment instrument. You have to invest an amount of just Rs 500 every month for a period of 10 years and you can easily expect a decent return. This amount can be used for her solo trip, education and other important functions.
Invest in HER!
This Rakhi you can promise to invest in her which basically means in her hobbies, interests, education and financial well-being. You can further motivate her to read up about financial planning by gifting her books and learning subscriptions so that eventually becomes financially literate and confident.