Where do you Park your Savings?

Invest

Do you save money regularly? Where is the best place to grow your savings? You can consider the following options:

1. Savings Accounts: The interest rate is so low that it can't even meet the onslaught of inflation.
2. Fixed Deposits: Interest rate is higher than savings account. May be it is just enough to cover the inflation rate.
3. Bond Funds: When interest rate goes down the value of bonds go up and vice versa.
4. Investment-linked insurance policy: It offers a better return and you are 'forced" to save on a regular basis which is your main aim.
5. Unit Trusts: Like investment-linked insurance policy it offers a better return. However it is affected by the ups and downs of the stock exchange. It is a very suitable vehicle for regular savers.
6. Share Market: The return is good. The risk is also high.
7. Real Estate: It is very good for long-term investment but the initial investment sum is substantial.

Image source:https://jackpeter9910.medium.com/where-to-park-your-money-in-2019-4e72ac921275