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Financial uncertainty comes unannounced. It is always prudent to be prepared and to remain financially stress-free. Investments for single women in mutual funds can be a first step towards financial freedom.
If you are a single woman, either out of choice or because of an unfortunate event like divorce or the demise of your spouse, then please read this to the end.
Divorce or widowhood is a major life-changing event for women. Both events bring significant financial difficulties more so if the woman is also a mother. Under such trying times financial hardships and thought of future expenses will be consuming.
Just the thought of “How to tide over the current times?” “How to meet expenses for education, retirement, medical expenses a house etc.?” will be extremely stressful.
Hence, smart Investing in women is a necessity. In this blog, you are going to learn “why investing in mutual funds is essential to gaining financial stability and independence.”
How Mutual Funds Contributed to Financial Independence
Financial Challenges during Separation, Divorce, and the Unfortunate Death of the Sole Breadwinner:
In a country like India, a large part of the female population is either homemakers or non-working. According to the BBC, Indian women spend an average of 5 hours per day doing unpaid work as compared to men, who spend approx. 30 minutes per day related to cooking, washing, cleaning, looking after children, and all.
A married woman should always keep some money to invest in schemes that can be retrieved in case of an emergency. Investing for women is essential in today’s world and as easy as buying daily groceries that too can be done at the fingertips.
It’s been an age-old practice for women to stack away spare cash that has been saved from regular household expenses.
If this money is invested in schemes like mutual funds for a longer period, let’s say 5 or more years, then it will create a huge corpus over some time, and that corpus can be used anywhere for buying a house, a car, education fees, medical emergencies, travelling and many more things.
Uncertainty occurs
No one can foresee these events, nor does one need to think along these lines. Investing for women is also to plan for contingencies, and God forbid, if the contingency is extreme, then the investments can come in handy.
You should always have good insurance coverage for your spouse. In the unfortunate event of the husband’s demise, insurance claims can take care of household expenses, the education of children, the mortgage, etc.
It is essential to have an insurance policy that is at least 20 times the gross annual family income plus outstanding home loans, mortgages, and other liabilities. Insurance is the primary source of financial help in the event of death or any medical mishap.
Read more about : Term Insurance
Start small, Win Big
However, regular savings in well-performing mutual funds can add to your financial security, which helps you pursue your passion or follow your dreams. It instilled a sense of smart investing in women and housewives and taught them how to manage risks and generate returns.
A lady who has been investing for a long time will always be well-versed in managing and investing money smartly. The minimum investment in a mutual fund starts at just INR 100, so it is very easy for every household homemaker to start investing.
Conclusion
Divorce or widowhood may bring financial challenges. Investing in mutual funds and taking charge of their money will make women smart. This smartness will go a long way toward tying over uncertain financial waves. Moreover, the money saved can come in handy during those difficult times. These events are life-changing and cannot be predicted.
The idea is to make women independent and empowered to make financial decisions. It all starts with managing money and smart investing. Mutual fund investment is the best investment for women because it is also safe with low risk and a good return and is more liquid, which means anyone can withdraw as per their needs at any point in time.
MutualFundWali, an initiative of MutualFundwala, empowers women to make important financial decisions.
Our team will introduce you to MF investing and share details of various schemes. MutualFundWali will provide you with enough information to be financially independent and take charge of your hard-earned or saved money.
Remember, you are not alone. MutualFundWali will hold your hand and assist you in
your financial journey.
