Investment is a healthy habit that can help one turn their financial woes into financial freedom and independence. It can also help set you up for opportunities like retiring early or exploring the other things in your life. Investment has helped individuals like Warren Buffett, and J. P. Morgan leverage their way upwards. If you are someone who is looking to make an investment, then you can conduct your own research by reading, listening to podcasts, watching movies/ documentaries or researching or asking professionals for insights and takeaways, but this is how you can slowly build your interest towards investment and make wise decisions early on when it 

comes to making investments and getting your life secured. 

Here are some of the suitable investment options for millennials: 

  • Unit Linked Investment Plans (ULIPs): It is a hybrid instrument that provides dual benefits of not only making investments in the capital markets but also providing the holder of the policy with a life cover. These plans can be varied with respect to the investment in capital markets by varying the investment to be leaning towards equity or towards debt or finding a middle ground that is comfortable to most average investors. ULIPs are a long-term investment product that offers a healthy market-linked capital growth over a period of more than 10 years. 
  • Endowment Plans: They are life insurance plans that combine the possibility of savings as well protection in the form of life cover, packaged into a single product. The plan is designed to provide risk-free coverage and savings in a systematic and secure manner. The returns that you may earn on this policy are not linked to the markets, but this is a product that comes with a fixed tenure. This is a policy that will provide you with assured returns. 
  • Monthly Income Plans: A monthly income plan is an investment plan that offers to park your funds into a systematic investment in the capital markets while providing you with a life cover. The plan provides you, the holder of the product with an option to make periodical investments into the capital markets of your choice. The frequency of these investments can be dependent on your appetite and capacity, and the frequencies can be classified as monthly, quarterly, half-yearly or yearly. 
  • Public Provident Fund: One of the most traditional investment avenues, PPF nevertheless remains a great investment option for millennials. While you may choose to extend your risk appetite through other avenues, Public Provident Fund is always a good idea because of its low risk and steady, assured returns on investment. Contributions to PPF are tax-deductible under Section 80C of the Income Tax Act.
  • Direct Equity: If you are more of a seasoned investor and have a higher risk appetite, direct equity investment could be the best way to go for you. It is extremely susceptible to the volatilities of the market, and therefore can be a very high-risk investment. However, if you understand the markets well and know how to navigate them, then it could bring you higher returns than any other investment avenue.

These are some of the investments that millennials can make to build a financially sound future.