7 Best Things to Buy on Dhanteras
Dhanteras marks the beginning of the five-day Diwali festival and is celebrated with great enthusiasm in India. The term "Dhanteras" translates to "Dhan" (wealth) and "Teras" (thirteenth), referring to the thirteenth day of the lunar month of Kartika. This auspicious day is dedicated to Lord Dhanvantari, the god of Ayurveda and health, and is believed to herald prosperity and well-being.
Dhanteras is primarily associated with wealth and prosperity. People traditionally purchase gold, silver, and other precious items as a way to invite prosperity into their homes. However, it's also an opportunity to invest in financial instruments that can contribute to long-term wealth accumulation. This day symbolizes the importance of financial planning and wealth creation, making it a significant occasion for both personal and economic growth.
Dhanteras in 2024
In 2024, Dhanteras will be celebrated on Tuesday, October 29th. This day not only serves as a reminder to invest in valuable assets but also emphasizes the importance of financial literacy and planning for the future.
For the most part, purchasing gold and silver in one form or another marks Dhanteras, which is regarded as a holy day for making new purchases. However, very few people take advantage of the chance to invest in financial instruments that increase their wealth.
You might be wondering what the best thing to buy on Dhanteras is or what to buy on Dhanteras to make the right financial choice. Dhanteras is a season when achieving and ensuring economic prosperity is the main objective.
In this blog, let's look at the various investments you can make. This Dhanteras boost your wealth and help you reach essential life objectives. Here is a list for your Dhanteras shopping that you can look forward to. Let's begin.
What Should We Buy on Dhanteras?
Following is a detailed list of the things to buy on Dhanteras this year-
1) Insurance
If you're wondering what to purchase on Dhanteras and have your and your family's future in mind, Insurance is the best option. We know that good health equates to wealth and that insurance serves as protection; therefore, investing in a quality term insurance policy can be valuable for you and your family.
All the while, watch out for policies that combine investment and insurance. In the long run, these might cause more harm than good. But, on the other hand, by picking life and health insurance, you do have to make sure you have sufficient risk coverage, so conduct personal research and secure your and your family's future instantly.
2) Investments in Silver & Gold
Indians prefer precious metals like gold and silver above all other types of wealth. Therefore, investments in gold and silver during Dhanteras are regarded as fortunate and have their roots in the scriptures.
Promising candidates for excellent long-term appreciation, Indians have always been in favour of investing in gold and silver during Dhanteras. Apart from this, you can also consider investing in Gold ETF and Silver ETF.
3) Investment in Homes
We all aspire to be homeowners. While some people depend on it to survive, it is simply an investment for others. As the holiday season approaches, multiple offers for loans and properties from builders and banks are on the table.
What other day could be considered more favourable for purchasing that dream home of yours than Dhanteras, right?
4) Purchasing Equity
Investing in Equity is another viable option and one of the most underrated Dhanteras items. Although for investing in equity, traders need to take a careful method and stick to long-term approaches, the returns from the same can prove to be a successful choice in the long term.
5) Purchasing an Automobile
Due to the numerous offers made by sellers to entice customers, auto sales are also exceptionally high during Diwali.
Even though buying a car is not an investment because it depreciates, many people view Dhanteras as a lucky day to do so. This is because you can trade your current one for a new one if you already have one.
6) Mutual Funds
Mutual funds have become one of the most popular investment options over the past decades. This is because mutual funds not only ensure that your investment is disciplined but also that you stay invested throughout market cycles. So why not begin your investment journey during the auspicious festival of Dhanteras?
Depending on your goals, risk tolerance, and investment horizon, you can choose from various fund types, including equity, debt, and hybrid; all the options can prove to be one of the best things to buy on Dhanteras 2024.
7) Stocks
Investing in stocks can be a powerful way to build wealth over time. By purchasing shares of companies, you become a part-owner and can benefit from their growth and profitability. This Dhanteras, consider researching companies with strong fundamentals and a solid track record. Look for industries that are poised for growth.
Additionally, think about diversifying your stock portfolio to mitigate risks and increase potential returns. Whether you're a seasoned investor or just starting, investing in stocks can be a rewarding strategy for achieving your financial goals and ensuring long-term prosperity.
Conclusion
As is apparent, investing in capital instruments this Dhanteras will not only put you in an advantageous position for the present but also ensure your financial security in the future. Additionally, now is an excellent time to evaluate your portfolio, spot empty spaces, and close them to ensure long-term success.
Disclaimer: This blog is solely for educational purposes. The securities/investments quoted here are not recommendatory.
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Research Analyst - Bavadharini KS