Finance Expert Suggests 4 Best Options To Invest This Dhanteras

Dhanteras Investment: Dhanteras marks the first day of Diwali. It is believed that Goddess Lakshmi blesses people on this day with prosperity. Therefore, it is considered the best day for investing or buying jewellery or metal coins.

We spoke to Shavir Bansal, founder of Bekifaayati and finfluencer, to understand the best options for investment this festival season because if your choices are correct, your money will grow by leaps and bounds.

Bansal said, “Dhanteras is a special occasion, and it's a tradition for many to invest in assets like gold, silver, stocks, and more. But in today's economic climate, it's essential to approach these investments with a well-thought-out plan rather than making impulsive decisions.”

Here are a few investment options shared by the expert:

Digital Silver

The expert said that silver has a less mature market. Hence, investing in silver coins and jewellery is not a sound investment choice. Moreover, your options for investment are also limited. Therefore, he suggested considering digital silver as a better alternative. Though the number of people investing in it is less, it is still a good option if at all you are hell bent on gambling with this metal.

Sovereign Gold Bonds

According to the finfluencer, most Indians traditionally invest in silver and gold because they believe that the metals will attract good fortune. However, not many understand that physical gold and silver come with additional costs that include capital gains tax, GST, and making charges. It affects your returns.

Therefore, the finance expert suggested investing in sovereign gold bonds. They are considered more sensible choices and issued by the Reserve Bank of India (RBI). They promise better return on investment (ROI) over digital and physical gold.

Stock Market And Mutual Fund

The expert said that though the most famous type of investment in Dhanteras is physical gold and silver coins, people can also think about mutual funds and the stock market if they want their money to grow.

He suggested mutual funds can be a good starting point and are easy to manage at a relatively low cost.

If you are a beginner, the expert does not suggest investing in the stock market directly. You need to do extensive research and calculate your risks. The fininfluencer said, “Even in Mutual Funds if you find things too complicated you can simply start with a Nifty 50 Index Fund and gradually expand your portfolio with Mid Caps, Small Caps as you gain more knowledge about the market and your risk appetite.”

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Fixed Deposit

The influencer also suggested investing in fixed deposits (FDs). Many banks are currently offering good rates of interest. Bansal added, “Investing in FDs for the short term (2-3 years) can provide portfolio stability and security.”

The finance expert concluded, “The right investment choice depends on your financial goals, risk tolerance, and investment horizon. It's advisable to consult with a financial advisor to create an investment strategy that aligns with your unique circumstances and objectives.”

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Only you can decide which investment options suit you the best. You cannot compare your risks with others. May you make the right choice this Dhanters. Happy Diwali.