Jun 16, 2023, 03:30 PM IST
With health care costs skyrocketing, gifting health insurance to your father is an excellent way to safeguard him from unnecessary medical bills and future emergencies.
It is one of the safest investments and financial gift ideas for contingency benefits. FDs offer a higher rate of interest than savings accounts.
What could be more fun than gifting stock of a company to your father? Just be careful of the stock you choose with respect to duration, quality of the company, management, et al.
Instead of gifting physical gold, this Father's Day, gift him gold in the form of a sovereign gold bond, gold ETFs, or a gold savings fund.
Start a SIP for your father! It is the best method of investment each month, as your money gets partially invested instead of a lump sum amount in the chosen stock of a company.