Systematic Investment Plan (SIP): A Systematic Investment Plan (SIP) is a disciplined way of investing, where you make regular investments according to a set schedule you create. Opt for monthly or quarterly investment which can be directly debited from your bank account in equity-linked savings schemes.

Public Provident Fund (PPF): The public provident fund (PPF) is not only a risk-free way to grow your wealth over a long term it is also a suitable investment for your kids. PPF allows you to invest your funds in your child's name without adding to your tax liability. Since the interest from PPF is tax-free, any amount invested in your child's name makes the clubbing provision of income tax ineffective. PPF is a great investment if you have age on your side so that you can maximise the benefit by extending the period of holding.

Though the returns are lower than equities, PPF guarantees your principal and interest. Earmark monthly deposits for PPF.

Insurance: Invest in quarterly or half yearly premium payments. Lot of unit linked, retirement, money back, child-oriented, purpose oriented schemes are available.

Equities/Mutual Funds: For the long term, there is no better trusted avenue than investing in select equities to handsomely beat inflation. The best part is in India, the long term returns are tax free.Can make direct investments in stocks with demat trading. There's an exception from capital gains tax if you hold for 12 months or more.

Real Estate : This is a much better bet and over the longer term probably the best bet, after equities. And if you are lucky to get into an area that later has much larger commercial implications, you can even hit a goldmine and better the long term equity market rates.

Gold funds: You can invest in gold funds through Mutual Fund (MF) route. There's an exception from capital gains tax if you hold for 12 months or more.

Home Loans: Though the interest rates are going up, it is a great asset building tool. Invest in a property.

Well today you can invest in hedge funds, currencies, futures, options and a whole host of others. They can all make big gains but risk is high. None of them can really be considered a best investment for long term growth because the risk is to high and the majority of investors lose their money.