As an investor, you may find yourself in a dilemma when it comes to finding the right investment strategy. Financial planning can be difficult if you do not know what elements to choose for your investments. Let us simplify the options for you: 

Open-end mutual funds 

Mutual funds are an excellent option for first-time investors. With this system, you can also use the services of a professional fund manager for financial planning. Depending on your risk appetite, you can opt for either equity mutual funds or fixed income mutual funds. Investors with high risk appetite usually opt for equity funds as they offer higher returns. Debt funds, on the other hand, are for those looking for highly liquid investments. 

Mutual funds are market-linked investments that invest your money in various instruments such as stocks, money market funds, and others. Mutual funds can be a good addition to your financial planning. 

Public Pension Fund (PPF) 

When it comes to financial planning, you need to expand your investment portfolio as this also helps in managing personal finances. A Public Provident Fund is a good investment option if you are looking for tax relief. It is a government-sponsored investment programme that provides you with risk-free returns.  

Before making any investment decision, you should review your financial planning from time to time. 

Unit-linked insurance plans (ULIPs) 

Financial planning should include a mix of investment and insurance to ensure the security of you and your family. It is the best financial instrument for those who are looking for life insurance and at the same time want a return. 

National Pension Plan (NPS) 

Good financial planning goes a long way in ensuring that you have security and peace of mind in retirement. That’s why it’s important to manage your personal finances wisely from a young age. The National Pension Scheme is a government pension scheme that also offers investors the opportunity to invest in various market-linked plans such as stocks and bonds.