Dhanteras 2022: Skip gold jewelry and invest in these instead
What's the story
Falling this year on October 23, Dhanteras is all about investing in certain items that are believed to bring good fortune, success, and protection.
Presently the age-old tradition of buying gold jewelry isn't the most opportune thing to do, as reselling gold might fetch you a price 15 to 30 percent lower than the actual value.
Instead, here are five other ways to invest.
Best alternative
Sovereign Gold Bond (SBG)
Sovereign Gold Bond (SBG) is government security denominated in grams of gold.
It is the perfect substitute you can consider instead of buying physical gold.
The minimum investment in SBG is 1 gm and the maximum gold investment per year is 4 kg.
You pay the issue price in cash and upon maturity after eight years, the bond is redeemed on cash itself.
Low cost and safe
Invest in mutual funds
Over the last few decades, mutual funds have increasingly become a popular investment option, especially on Dhanteras.
Well, mutual funds aren't just a disciplined investment, but they involve low cost investments and are totally safe.
So depending on your goals, risk tolerance, and investment criteria, you can choose to invest in various fund types including debt, equity, or a hybrid of both.
Home calling
Buy a property
Dhanteras is the perfect occasion to buy a new home or slot of land.
As per ancient Indian mythology, it is believed that investing in a property on this festival protects the inhabitants from untoward incidents.
Currently, a host of offers from banks and properties from builders are up for grabs, which makes it all the more suitable for you to invest.
A basket of securities
Silver and gold ETFs
Investing in metals like silver and gold on Dhanteras is considered auspicious.
You can purchase silver and gold ETFs this festival instead of jewelry.
Exchange Traded funds (ETFs) are traded on stock exchanges and require the buyer to have a Demat account.
ETFs have no lock-in condition and transaction costs are lower than real gold.
Gold ETFs are also accepted as collateral for loans.
Attractive deals
Purchase an automobile
Dhanteras and Diwali together bring a lot of attractive offers and deals on automobiles.
Although buying a car isn't really considered an investment because its value keeps depreciating annually, many people consider it lucky to do so on Dhanteras.
However, if you trade your old car for a new one, that's still an investment which is what the festival is all about.