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Women, in India, are not in the habit of investing. Those who are married typically leave all the investing and financial planning to their spouses. Of course, there is a small percentage of women who are becoming financially savvy and this trend is growing with more and more women joining the corporate workforce with the aim of becoming financially independent. There are also those women who are single mothers. Typically, these women do not make it a practice to invest, either out of fear or a lack of confidence. Many women do not know how to invest their capital and the channels of investment they should use. They often fear the risks involved and the potential losses they may face as single mothers with no spouse to depend on. Nonetheless, there are avenues for investment that are relatively Low-risk Investments, and single mothers can explore these and go ahead and invest.
If you are a single mother and lack the confidence to make investments, you should not worry anymore. You may be busy juggling work and the home with your main priority being raising your children as a single parent. However, all it takes is a bit of knowledge and information to get your investments going.
Being a single mother is a challenge and single mothers must be commended for meeting that challenge alone, but in case you want to secure your child’s future, and meet your own expenses through factors like inflation, you must be willing to invest in certain channels that will give you a flow of income and build your wealth. Your greatest challenge as a single mother may be the management of your finances, but like you meet all the other challenges in your life, you can deal with this one too.
By employing the appropriate strategies and tools, you can easily grow your wealth and create a robust financial foundation. Here, three low-risk investment instruments are discussed and you can be assured of your money’s growth without any worry:
In India, PPF is a famous investment instrument and is backed by the Indian government. This makes it a risk-free scheme. Here are some features:
This is a government-backed scheme which makes it secure. It was launched with the purpose of providing salaried individuals with a corpus for their retirement. Here are some features of EPF that you should consider:
This is an often-ignored investment option, also risk-averse as it is backed by the Indian government. Here are some of the scheme’s features:
Being a single mother does not mean you cannot invest in schemes that are mainly risk-free and ensure you get a decent return from your investment. If you invest in one or more of the risk-free schemes mentioned in the article, you may be well-equipped to deal with your financial requirements, be it your retirement expenses, medical emergencies, or your child’s higher education.
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