While there are a myriad of options when it comes to investing, picking the right avenue depends on your financial strength, income and your risk profile. To make the task easier, there are some options for you to consider.
Getting rich is something we all dream of, whether we are driving to work, or typing away on our laptops, attending a conference or watching a movie. We are always thinking of how to build wealth and get higher returns on our investments. As the book, Rich Dad Poor Dad states ‘let money work for us, instead of working for money’.
There are many avenues in which money can be invested, and picking the right option is dependent on your finances and risk profile. Here are some of the options that you may consider:
Investing in banks
Most people prefer investing via traditional saving options under the assumption that the returns are good and investments are safe. While indeed the investments are safe, but they don’t give the best returns. Considering the tax implications of these investments, the absolute returns are not some of the best that one can hope for.
Investing in equities
According to popular perception, since equities offer better returns in the long run, the equities markets are on a roll, with the bulls ruling the roost, people are tempted to invest and make a quick profit. Many analysts in these times do come out with “could-be” scenarios, namely, if you had X sum invested in stock market 5 years back, it would have been 10X now. Yet, what many people do not realise is that investing in equities is extremely fraught with risks, a swing in a matter of moments can rob an investor of not only his gains but even the principal. There are many factors that influence the rise and the fall of the stock prices. Timing and patience are key to making money in the markets. Even so, earning profits from stock markets can be tricky and is best left to market experts.
Investing in gold
As per reports, if you had bought say 10 grams of gold five years ago with a long investment horizon, it would have cost you some Rs 31,000. Today, the price of the same 10 grams would be Rs 28,000. Thus, your wealth in gold has actually diminished by almost 10% in 5 years. While gold is considered a great investment from a liquidity perspective, there can be variance in terms of the returns that can be expected from it.
Investing in mutual funds
Mutual funds are also an investment option that many people opt for. As most mutual funds are actively managed with investments in equities, debt, or a mix of both, depending upon the type of the fund, one does not have to worry about constant monitoring. The prospectus of a mutual fund scheme will mention the fund manager and one can always check the track record of the fund manager online.
The good news is that even with the short-term gains tax in play, mutual funds returns are considered fairly good, making them a good investment avenue for beginners as well as  advanced level of investors.
In the end, good investments are critical for a brighter future, as they afford opportunities to upgrade lifestyle. For instance, good returns from regular investing could even help you with upgrading your car into a swanky new one  in few years, That’s the power of investing.

Mutual Fund investments are subject to market risks, read all scheme related documents carefully.