Gone are the days when women were considered totally ignorant about personal finance and investment planning. Now they stand equal and earn as much as their peers do. This Women’s Day, we would like to throw light on the investment avenues best suited for women and few smart investing tips to help them out.

Given the ever increasing uncertainty in almost every aspect of life, it has become important that the lady of the house is also financially independent. A single source of income is not enough anymore. The need of the hour is to have a well-planned double income source and to plan investment goals effectively for a secure future and comfortable retirement.

Although there is not much difference between investment objectives of the two genders, women are slightly conservative when it comes to investing their savings. Women are more averse to investment risk than the opposite sex and hence they shy away from participating in financial markets. This is inspite of the fact that they both share same level of financial knowledge.

Here are some of the best financial planning & investment mantras women can follow:

1. Get Yourself Covered: Although typically, men happen to be the prime bread earner of a family, women too in recent times have emerged as a sole earning member and caretaker. This makes it important for you, as a responsible woman, to be covered against any risk. A term insurance can be recommended to cover you and your family. Also, you can buy a health insurance policy that help in times of emergencies without affecting your finances.

2. Disciplined investment through SIP: The method of SIP or Systematic Investment Plan is very useful for risk averse investors. The best thing about SIP is that small amounts of money can be invested regularly. Apart from doing SIP in mutual funds, now you can also start doing SIP in stocks.

3. Invest in dividend paying stocks: If you are interested in investing in stocks and keeps a good track of the market, do it in stocks which pay good dividend to its stakeholders and investors. High Dividend yield stocks have always given good performance.

4. Invest in Gold ETF: In general, women are accustomed to the age old practice of buying and accumulating ornaments as future savings. However, this way they are eating into their own money as it involves making charges. Then there is fear of impurity and insecurity. Instead, start looking for better alternatives like investing in Gold ETF. Gold ETFs are non-physical and secured way of buying gold. However, there is always an inherent urge to adorn themselves with Gold & Diamond jewellery. So if at all you are the compulsive spender, treat this as an equally important investment decision and buy hallmarked Gold and certified diamonds so that they retain their value and even appreciate with time.

5. Plan your retirement: As a working woman, you should have a well laid plan for your retirement. A regular amount can be set aside which will help you retire rich. The thumb rule is to start early which not only ensures you have more time to accumulate more, but also you will be paying lesser amounts each month.

6. Ask the Professionals: Guidance of a professional financial advisor can be of great help if you have limited knowledge of personal investment.

It is often said that women have better relationship with money than men. They are good at savings than their peers. But there is lack of enthusiasm in turning the savings into investments due to many of the reasons cited above. Let us enhance the number of women participants in financial markets and investment planning in the coming times.

Disclaimer: Views, as are mentioned in the article, are personal views of Author and are not necessarily the views of the Company, its Director and Employees who are in no way connected to these views.