Apart from our salaried income, we all need additional sources of income to meet our growing demands and live a comfortable life.
More income streams equals more financial security. Apart from our salaried income, we all need additional sources of income to meet our growing demands and live a comfortable life.
Today there are numerous investment avenues available that are made considering one’s risk profile, age group, investment goals, etc. You can invest in the avenues that best suit your individual needs and goals.
Having said that, a diversified portfolio consisting of different investment avenues helps reduce the impact of market volatility and reap the advantages of different investment instruments. The corpus accumulated from these investment methods can not only help you meet day-to-day expenses but can also come in handy during contingencies.
Here we bring to you a few popular ways of getting additional income.
A mutual fund is a financial instrument that pools the funds collected from different investors and invests them in varying financial assets such as stocks, bonds, money market securities, etc. It helps you diversify unsystematic risks by investing in a diversified portfolio across different sectors. You can choose a mutual fund scheme depending on your investment objective and risk appetite.
Owing to the booming equities and confidence of investors in the Indian economy, mutual fund investment is gaining significant popularity among investors. Mutual fund investments have greater prospects of potentially providing high returns over time, helping you build long-term wealth.
Gold is a unique asset class. A portfolio allocation of 10 to 15 percent in gold can act as a diversifier and a vehicle to mitigate losses in times of uncertain market cycles that impact equity, bonds, etc. Furthermore, investment in gold offers competitive returns compared to other major financial assets. Therefore, it is safe to say that adding gold to your portfolio can enhance your risk-adjusted returns.
Instead of buying gold in the physical form, today you have the facility to invest in gold through Sovereign gold bonds, gold ETFs, gold mutual funds and digital gold.
Fixed deposits serve as one of the oldest and safest investment instruments offered by the banks. It offers a higher interest rate compared to the interest provided on a savings account or current account balances. Owing to its risk-free status and guaranteed fixed returns, many people choose to invest in fixed deposits. Besides, it acts as a source of regular income for many people.
You can choose the investment tenure ranging from 7 days to 10 years depending on your investment goals.
Among different financial instruments available in the market, trading is emerging as a popular way of getting extra income.
With numerous online trading platforms, today trading has become more convenient and hassle-free. These robust platforms have helped many individuals avail the convenience to trade in different financial assets including equities, commodities, financial indexes and currency pairs.
One of the popular trading platforms that has gained immense recognition in the market is Binomo. Available in 133 countries, Binomo offers 73 high-yielding assets to trade. It works on Fixed Time Trades (FTT) principles, also known as accurate forecast. Here, you have to predict the movement of assets in a specific time i.e. whether the price of an asset will go up or take a dip. You can get additional income based on your forecast.
So it works like this, you need to first zero in on the asset you wish to trade in and then set the investment amount and time against the trade. Now, if your forecast for the trade is correct, you can get additional income and if your forecast is incorrect, the investment sum will be withdrawn from your balance.
Binomo is a safe trading platform and a category “A” member of The International Financial Commission. This vouches for the reliability of the company and guarantees the quality of services and transparency in relationships. It is certified by Verify my Trade and has received the 2015 FE Award and 2016 IAIR Awards for excellence in global finance and markets. Furthermore, the platform uses SSL encryption-based internet security protocol to ensure that all your personal and financial data is encrypted and secure.
Binomo’s platform is extremely simple and user-friendly. Even beginners can use this platform by learning and gaining knowledge of trading through a demo account. It allows you to monitor your trading performance using advanced tools.
To start your trading journey with Binomo, visit their website or download the application from Google Play Store or Apple’s App Store. Create your account by clicking on ‘Sign Up’. Once you complete your registration, you become a part of a community of more than 20 million Binomists who are investing online with Binomo.
Note: Operations with OTC financial instruments are associated with significant risks therefore analyse your financial capabilities before investing.
This article has been written by Studio18 on behalf of Binomo.