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Stocks, ETFs or Gold? Simple steps to gift wealth and prosperity to near and dear ones this festive season
When we think of people near and dear to us, their happiness becomes important to us. And what better way to make our special ones feel special than to surprise them with a gift? However, at times we run out of gifting ideas for family and friends and end up buying the usual ones. Even after we put in a lot of effort in buying a present, a conventional gift runs the risk of the recipient losing interest quickly. So, how about investing in a gift for your family whose value appreciates over time? What gift can help and support them in times of need? For the most significant people in your life, a gift with financial value ticks all the right boxes. Such family gift ideas need not be too complicated with a wide range of options available. And this thoughtfulness will be appreciated and creates a positive impact on your relationship.
4 Financial Gifts For Your Loved Ones To Give This Festive Season
It is the season of love, laughter, and merriment. The festivities all around make us gather all our favourite people and shower them with reasons to cheer. And a gift chosen with care and thoughtfulness is the perfect way to make them feel special. This time around, let go of the mundane and conventional gifting ideas for your family. Instead, invest your time and money in choosing a smart and prudent financial gift that can support them in fulfilling their dreams and desires.
Here are some of the best financial gift ideas that might add greater value to the financial aspirations of your loved ones:
Gold Coins: If you wish to gift something tangible and traditional yet valuable, gold coins are an excellent choice. Gold is a versatile asset class that has the potential of generating good returns. Gold coins are made of the purest form of gold- 24-karat or 99.9% pure gold. The recipient can either convert the gold coins into jewellery or sell them to generate cash in times of need. 1 Gram gold coins have become quite popular as gifts for family and friends owing to their beautiful designs, better security, and low investment risks.
Systematic Investment Plan (SIP): An investment in a moderate-risk mutual fund portfolio for your special ones can support their long-term financial goals. A Systematic Investment Plan (SIP) where you can contribute a certain amount each month is a smart financial gift. Since SIPs are monthly contributions, they are a better hedge than lump sum investments against market volatility, coupled with the power of compounding for wealth creation. You could consult a financial advisor to decide on the best SIPs to invest in.
Gold ETFs: As an asset class, gold acts as an effective hedge and safety net during global uncertainty and a shield against inflation. If you are concerned about the safekeeping of physical gold, gifting digital gold is a great family gift idea. Digital Gold refers to Sovereign Gold Bonds (SGBs), Gold Exchange Traded Funds (Gold ETFs), and/or a Gold Saving Fund. Both Gold ETFs and Gold Savings Funds (also known as Gold Fund or Gold ETF Funds) are smart ways to invest in gold without actually having to physically store the gold. The recipient gets to enjoy the returns of such an investment without worrying about the storage and security aspect of physical gold.
Health Insurance: We would like to keep our loved ones with us for as long as possible. Thus, to ensure that our family enjoys good health and that their medical needs are taken care of, health insurance is a sensible family gift idea. You can either purchase a family floater plan for the entire family or an individual health plan.
An unconventional gift such as a financial gift has the power to transform the lives of your loved ones. And there’s nothing like seeing them achieve financial freedom with an invaluable and thoughtful present.
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