It’s the month of August and the jovial occasion of Raksha Bandhan is just around the corner.
Traditionally, the auspicious occasion of Raksha Bandhan is celebrated to celebrate the bond between siblings and revolves around the bond of protection and care that siblings promise each other. On this occasion, siblings give each other gifts.
Instead of giving your siblings flowers, chocolates, jewelry, or an expensive phone, there are other, more meaningful ways to show them how much you care.
You could think of gifting them a financial gift. What occasion could be better than Raksha Bandhan to invest in your sibling’s financial future and helping them become financially secure.
Let’s look at some of the amazing and unique gift ideas that can make this Rakshabandhan extra special and a memorable one for them:
Investment in Direct equities: Buying shares of reputed and financially sound companies is the best gift for siblings to ensure a safe and secure future for them in long run.
Contribute towards an aspiration fund: You could also make this Rakshabandhan extra special for your sibling by contributing to an aspiration fund that he/she has been saving for or pay for higher education or upskilling courses that would take him/her one step towards financial security and independence.
SIP in Mutual Funds of Exchange Traded Funds (ETFs): Systematic Investing in a Mutual Fund or an ETF is a special way to secure your sibling’s future this Rakshabandhan. One can make investments in Equity, Gold, or Debt ETFs as per their choice. ETFs do not have a lock-in period and have low management fees which makes them a good choice of investment.
Insurance Policy: Buying an Insurance policy for siblings is one of the essential gifts as it ensures their safety and security in unforeseen circumstances. One can think of buying a life or health insurance policy in the name of your siblings. This would provide them with much-needed financial support in case of any misfortune.
Gifting a subscription of a SEBI Registered Investment Advisor (RIA): Buying stocks and mutual funds involves high risk. In order to ensure proper planning of the financials, gifting a service of SEBI registered RIA will be very kind to your siblings as they are market experts and professionals who are the right person to give quality investment advice.
Make this Raksha Bandhan special for your sibling by gifting them any of these financial gifts with a long lasting value. It would be a great way of expressing your love and care for them.