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3 Fs - Fathers Financial Freedom on Fathers Day
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3 Fs - Father’s Financial Freedom on Father’s Day

Fathers Day is almost arriving. Its Fathers Day on June 19th and many of you may be thinking about how you can make your Fathers Day memorable. You may be preparing a party at home with gifts to make him feel special and to demonstrate your affection for him. But, for this Fathers Day, why not give dad something that will benefit him in the long run?

We provide you with the option to try something new. You may assist your father in planning his future in the same way that you assisted him in planning yours! Surprise your father this Fathers Day by assisting him in planning his retirement so that he may keep the same, if not a better, lifestyle once he hangs up his boots.

Lets have a look at some investing ideas that can make your father happy while also ensuring his financial security.

1 - Mutual Fund

This is one of our top selections for a financial present, and it can be given to any dad, whether or not he is financially savvy.

Mutual fund investment is still regarded as one of the greatest investment techniques for regular people trying to make a profit.

If your father has not yet retired, you can assist him in building a retirement fund by investing in mutual funds. You may give your father a SIP (Systematic Investment Plan) in mutual funds this Fathers Day to assist him to reach his retirement goals.

If your father is already retired, you can establish a systematic investment plan (SIP) in mutual funds to assist him to develop a medical fund that will support him if his health insurance runs out. Investing in mutual funds may also assist him in reducing the danger of inflation.

2 - Health Insurance requirements

If your father does not have health insurance or if his existing coverage is insufficient, this Fathers Day, give him a health insurance policy that will assist him in the event of hospitalization without putting a financial strain on him.

We all adore our fathers and want that in the event of a medical emergency, they receive the finest possible care. As a result, health insurance can assist you in this regard. If your father is a senior citizen, meaning he is 60 years old or older, you become eligible to avail of a deduction of up to Rs.50,000/- under section 80D (of the Income Tax Act).

Kindly note that this tax benefit is over and above the deduction limit of Rs.25,000/- applicable on the health insurance premium paid for you and your family (spouse and children).

About the author
Krishna Rana,
Research Analyst - Wealth Management
Krishna Rana is a Research Analyst and has been working in the financial domain for more than 6 years. She holds a Master’s Degree in Management Studies and is NISM Series XV certified. She does detailed research in Mutual Fund and upcoming IPO for investors to draw on their investment decision. She manages fixed income and multi-asset class funds, as well as analyzing macro indicators, measured portfolio risks, and developing credit risk models based on global best practices with a focus on the domestic market.
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  • Amal s shah

    Regarding insurance


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