This Raksha Bandhan, offer your sister these financial gifts
Raksha Bandhan is a festival celebrating the pious bond between brothers and sisters. Sisters tie protective threads (rakhis) around their brothers' wrists, and in return, brothers promise to protect and provide them and shower them with gifts. As times have changed and financial stability has gained more importance, considering financial gifts can be a thoughtful way to contribute to a sister's future prosperity.
SIPs
SIPs are a great way to help your little sisters achieve financial security. SIPs involve regularly putting money into mutual funds managed by professionals. There are different types of funds tailored to different risk appetites and goals. With SIPs, you can offer consistent support without a large initial sum by actively contributing to your sisters' dreams and helping turn their aspirations into reality.
Health insurance
Another thoughtful option is to get your sister a complete health insurance policy. This way, she's covered for any unexpected medical expenses, ensuring financial security and peace of mind. If you feel like going a step further, you could keep paying for the premium of a health insurance policy on her behalf, showing that you care about her well-being.
Gold
Moving beyond traditional physical gold, consider gifting her digital gold. Another better option is to buy her Exchange-Traded Funds (ETFs) or subscription to Sovereign Gold Bonds (SGBs). ETFs work like stocks, representing the value of gold without needing the actual metal. SGBs, on the other hand, are government-backed securities linked to the price of gold and are issued by the Reserve Bank of India.
Stocks
Giving stocks as a gift is a smart choice. Consider offering stocks from well-established reliable companies that perform well over time (these are called blue chip companies). By presenting your sister with these stocks, you are giving her a chance to make money as these companies grow. It is a way to help her get into investing and set her up financially.
Debt instruments
Fixed Deposits (FDs) or Recurring Deposits (RDs) are other thoughtful gifts. FDs offer a lump sum investment with a fixed interest rate, providing stability and assured returns. On the other hand, RDs allow for regular monthly contributions, gradually building a sum with interest. Both options demonstrate your care by offering financial security and a means for your sister to save for the future.
