Finance Desk – As 2024 ends and we enter 2025, it’s a great time to plan your finances, especially with the tax year ending soon. Here’s how you can make smart investments that save taxes and increase your wealth over time.
If you prefer safe investments, consider Guaranteed Return Plans. These plans offer a fixed return rate and are not affected by market changes, making them great for those who don’t like risk. You can know exactly how much you’ll get back, which helps in planning your future. Plus, you can get tax benefits on these investments.
Unit-Linked Insurance Plans (ULIPs) are another great option. They provide life insurance and a chance to earn from the stock market. You can choose to invest in stocks or bonds and even switch your investment between them based on your needs or market conditions. ULIPs also offer tax breaks, and if your yearly investment is under Rs 2.5 lakhs, the money you get back when the plan matures is tax-free.
If you’re looking for a balance between safety and growth, Capital Guarantee Plans might be ideal. These plans divide your investment between safe returns and potential market growth. They ensure your initial investment is protected and also give you a chance to earn from the market. These are suitable for big financial goals like your child’s education or buying a house. They also come with tax-saving benefits.
Always consider your financial goals and risk tolerance when choosing an investment. Consulting a financial advisor or comparing plans online can also help you make the best decision for your financial needs.
