Beautiful Money By Leena Parwani
Investments and savings aren’t something you’ll think about until you are well into your 30’s. The initial working years of almost every woman, is usually spent in making ends meet with large credit card bills and other liabilities. It is only during the 30’s that most people start thinking about savings, investments, long term goals and eventually, retirement.
So, if you are an independent working woman in your 30’s and still haven’t had an opportunity to start your investment portfolio, you are not alone! According to a global research done by Nielson and DSP Blackrock, only 23% of working women take their own investment decisions and out of them, 18% are single working women. The rest, depend on their partners to take the decision on their behalf or prefer to jointly take a decision.
If you are 30 something and have started thinking of investments, then you are on the right path. Here is some investment advice that will help you making the right decision:
Life and health insurance
Consider buying a life insurance plan which will not only give you protection but also provide financial assistance to your family members. The first step towards making investments is to take care of your health and wealth, both together!
The inflating medical costs are a matter of worry for everyone and with the hectic lifestyles we live, everyone is at risk of contracting illnesses. The sum insured should be selected depending on the rising medical costs. Always keep in mind that the number of members you want to insure will play a major role in arriving at the sum that will be insured.
This element plays a key role while planning your investments. You might have dependent parents or children to care for and that’s when this protection becomes vital. While planning for a life insurance policy, ensure that the sum assured is sufficient to take care of your family in case of any unfortunate deaths.