More income streams equals more financial security. Apart from our salary income, we all need additional sources of income to meet our increasing demands and live a comfortable life.
Today, there are many investment avenues available depending on risk profile, age group, investment goals, etc. You can invest in the avenues that best suit your individual needs and goals.
That said, a diversified portfolio made up of different investment avenues makes it possible to reduce the impact of market volatility and benefit from the advantages of different investment instruments. The corpus accumulated from these investment methods can not only help you to meet daily expenses, but can also be useful in case of unexpected events.
Here we introduce you to some popular ways to get extra income.
A mutual fund is a financial instrument that pools funds collected from different investors and invests them in various financial assets such as stocks, bonds, money market securities, etc. It helps you diversify unsystematic risk by investing in a diversified portfolio across different sectors. You can choose a mutual fund based on your investment objective and risk appetite.
Due to the boom in equities and investor confidence in the Indian economy, investing in mutual funds is gaining popularity among investors. Mutual fund investments are more likely to provide high returns over time, helping you build long-term wealth.
Gold is a unique asset class. A portfolio allocation of 10-15% to gold can act as a diversifier and a means of mitigating losses during times of uncertain market cycles that impact stocks, bonds, etc. Moreover, investing in gold offers competitive returns compared to other major financial assets. Therefore, it’s safe to say that adding gold to your portfolio can improve your risk-adjusted returns.
Instead of buying gold in physical form, today you have the option of investing in gold through gold sovereign bonds, gold ETFs, mutual funds investment in gold and digital gold.
Fixed deposits are one of the oldest and safest investment instruments offered by banks. It offers a higher interest rate compared to the interest provided on a savings account or current account balances. Due to its risk-free status and guaranteed fixed returns, many people choose to invest in term deposits. Also, it acts as a source of regular income for many people.
You can choose the investment term ranging from 7 days to 10 years depending on your investment goals.
Among the various financial instruments available in the market, trading is becoming a popular way to earn extra income.
With many online trading platforms, trading has become more convenient and hassle-free today. These robust platforms have helped many people enjoy the convenience of trading different financial assets including stocks, commodities, financial indices, and currency pairs.
One of the popular trading platforms which has gained immense recognition in the market is Binomial. Available in 133 countries, Binomo offers 73 high-yielding assets to trade. It operates on the principles of Fixed Time Trading (FTT), also known as Accurate Forecasting. Here, you need to predict the movement of assets at a specific time i.e. whether the price of an asset will go up or down. You can get additional income based on your predictions.
So it works like this, first you need to focus on the asset you want to trade and then set the investment amount and time to trade. Now, if your forecast for the trade is correct, you can get extra income and if your prediction is incorrect, the investment sum will be withdrawn from your balance.
Binomo is a secure trading platform and a Category “A” member of the International Financial Commission. This attests to the reliability of the company and guarantees the quality of services and the transparency of relations. It is certified by Verify my Trade and received the 2015 FE Award and the 2016 IAIR awards for excellence in global finance and markets. In addition, the platform uses Internet security protocol based on SSL encryption 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 about 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 app from Google Play Store or Apple App Store. Create your account by clicking on ‘Register’. Once your registration is complete, you become part of a community of more than 20 million pairs who invest online with Binomo.
To note: Transactions with OTC financial instruments are associated with significant risks, therefore, analyze your financial capabilities before investing.
This article was written by Studio18 on behalf of Binomo.
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