Investment help
Hello community, Need help in the decision-making of the money that I have in my bank. Currently, I have around 13lakhs in my bank account. I dont know what to do with that money. I dont feel safe in stocks and dont know any other options where to invest money. Help would be genuinely appreciated š. Thank you Age - 24.
FindingHorses
Stealth
7 months ago
Invest in index funds.
Most of them are good
I personally use Zerodha. Also I would recommend taking a quick look into detail about MF on yt. Channels like labour law advisor would help you.
If you are in job I would also suggest going as
1) Emergency Fund (FD)
2) Insurance (health and life)
3) Investments ( MF, SGB, Stonks)
4) Retirement fund (NPS)
If you want some liquidity, you could invest in liquid Mutual funds with very low risk and better return than bank rate.
In case you want to lock in the money for a longer term, you can for FDs.
Also, why are you afraid of stocks?
Thanks for the suggestion. I am afraid because the idea that the stockbroker can run away has got me a little speculative.
Talk to a proper wealth advisor / read up on wealth management and start planning for your future goals from early age. FD (emergency fund), MF (medium risk long term wealth creation), stocks (high risk returns creation), gold (very long term generational wealth creation) and real estate (need based) are the most common investment avenues. Some people consider insurance as an investment but I donāt so not mentioning here.
Man that is so good. Others in the comments have a done a good job at explaining what to do with the money.
PersonalFinanceAbhi
Stealth
7 months ago
Hello, I am a financial planner/Advisor. I can guide you for safe options after discussing with your risk capacity and investment horizon. Whatsapp me at 7990744040 or connect with me on LinkedIn - Abhishek Viramgami.
Firstly you're 24 and have 13L in the bank? Pray tell what you do for a living.
Secondly, Get a Financial advisor. Split your investments into Emergency funds and 13L-(Emergency Funds). Get the Fin Advisor to do a through analysis and identify 4-5 actively managed MFs with high risk, and invest in them. The MFs will yeild good returns by the time you're 30.
Else try smallcase.
Bro best option for you is to invest in mutual funds through SIP and since you have currently a good amount of assets you can invest this lump sum in some good mutual funds . You can use groww app it's very user friendly .
Ballr
Stealth
7 months ago
@Itachi752 hereās what I did. I was almost in an identical situation a year ago.
I put 1L in liquid funds in case of an emergency or in case I have to resign tomorrow for any reason (thatās my expense for 3 months)
Another 0.5L went into insurances. Health and Term.
The remaining amount went 80% into Index funds (equity) and 20% into debt funds.
1 year later I have accrued a decent gain of 13% across my portfolio and I continue to make SIPs into the index and debt fund.
The minute I get paid on 1st, 70% of my salary gets earmarked for investments. Your situation obviously might vary, but just automate this process and forget about it.
If you have interest in stock market, you can research and do stock picking and all that jazzy stuff, but personally I feel itās not a productive use of my time in the long term.
Bhai, give me your money. I will keep it safe.
It will be a big responsibility on me but I will somehow manage it
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