Investing and saving post Covid has not only become a challenge but most people are further confused as to howq to make money in this bear market amist lockdown. It is not so difficult to grow your money. You should keep in mind the liquidity requirment and your needs to invest. Some of the easiest methods are given below:
2) Trading in share market: Trading in share market has gotten far more easier than before. All you need is a demat account and you can trade from the comfort of your house. You need to do some research on which companies you think will do well. Nowadays a lot of tips are available online. These tips coupled with your research will give you the right path.
1) Saving bank account: Keeping your money in a savings bank account has high liquidity and very low returns. It is very easy to withdraw money from the savings account. The returns can be a range of 3 to 4 percent depending on the bank. There may be a cap on the maximum amount withdrawn. Opening a savings account is easy. All you have to do is walk into any bank branch.
3) Systematic Investment plan and mutual funds: These are the plans which pool in money from various people and invest it collectively. The returns can be very good. Around 7 percent is what most promise
However it is important to again do your research and find out the lock in periods etc.
Most importantly you will need to assess how much is your need and what investment you are looking for. HAPPY INVESTING!!!
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