We list 5 good investment options to check out in 2019, to create savings and wealth for the future.

The purpose of an income today, is to create wealth for tomorrow. However, many of us wrongly believe that wealth can be created by working till one is 60 years old. Income alone does not create wealth – it is a means of running daily costs in your life. However, it can be invested and made to work overtime so that wealth is generated for your future.

But picking the right investment options is key. There are so many investment schemes out there than you become quite confused about which ones to choose. The first step is to identify your financial aims for the future, both short- and long-term. Once your aims are established and a financial roadmap is created, then you can pick the right investment options to align with those goals.

Here is our list of the 5 best investment options to choose for the year 2019:

#1 Fixed deposit. The fixed deposit is one of the safest, most guaranteed investment options in India through the ages. Once you deposit a lump sum amount of money in the bank, you can stay invested for a certain number of months and gain capital appreciation through the interest that the bank pays on the FD account. The higher the rate of interest, the more you earn on the FD account. Fixed deposits create wealth for the future.

#2 Mutual funds. A mutual fund investment can maximise your income by offering high returns and low risk if you stay invested for a longer period of time. Investing in equity mutual funds can help your money grow more, while debt mutual funds offer more stable returns with lower risk. You can pick the kind of mutual fund investment that best aligns with your financial objectives.

#3 Real estate. Realty is an appreciating asset in India, and buying a residential or commercial property enhances the value of your portfolio manifold. It might become difficult to buy the property with a full down payment, but you can always take a loan to fund the purchase. A home loan also offers tax benefits every year against principal and the interest payable.

#4 Senior citizens savings account. Your savings account is also a viable investment option to check out. If you are on the brink of retirement, you can convert your regular savings account into a senior citizen savings account. The senior citizen savings account may have a few value-added services for senior citizens, or even a higher rate of interest on the savings deposits.

#5 Pension plan. Another good investment option to check out is a pension plan. The pension plan pays a regular income once you retire, so it helps you run the household and finance incidental expenses whenever they occur, without dipping into your savings.