GroovyBagel
GroovyBagel

Reached 7L networth (all cash, need suggestions)

I am a 23 grad who has managed to save close to 7 L all cash till now. Plan was to enjoy the first 6 months of job and then start with the financial hustle. Seems, I am ready. Need suggestions to allocate ~5L across equity, gold, FDs and other investment instruments.

I have an education loan, so tips on that will also be highly appreciated.

Targeting 25 L net-worth (excluding the loan) by the end of ‘24

Thanks!

13mo ago
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ZestyMarshmallow
ZestyMarshmallow
Student13mo

Education Loan is a good thing in your case. Don't be in a hurry to pay it off really soon. Get taxation benefits.

See if you can pay down the principal rather than the interest, read up on this and negotiate with bank if necessary)

Got a nice sum. Always keep 5L in your bank acc.

Anything else goes into the stock market and FDs.

Rest you will figure out kid.

WobblyMarshmallow
WobblyMarshmallow

Why keep 5L in bank account?

BubblyTaco
BubblyTaco

for emergencies

SleepyMuffin
SleepyMuffin

This is counter-intuitive but take more risks at this age. Do not park it in gold or FDs. Do not repay the loan more than you need to.

80-85% equities + 10% bitcoin + 5% liquid would be my allocation if i was 23 again.

It’s good to have a 1 yr goal on net worth but make investing decisions to optimize for your 30th birthday than 24th.

Ps. I am a 34yr CA, FIRE achieved but in hindsight I wish I had taken a lot more risk earlier

WobblyMarshmallow
WobblyMarshmallow

Hi, would you recommend this even in the current market situation?

SleepyMuffin
SleepyMuffin

what is the current market situation acc to you?

WobblyMarshmallow
WobblyMarshmallow

How do you plan to get to 25L by end of ‘24? Saving almost 1.5L a month?

GroovyBagel
GroovyBagel

More savings, a realistic 10% compounding on equities and a bit of increment in my salary. Again, this is a target, might not happen but pushing will not hurt.

WobblyMarshmallow
WobblyMarshmallow

Got it, makes sense

SparklyRaccoon
SparklyRaccoon

Start with Actively Trading into the Equities market. Stay the hell away from options and futures and you will be good.

ZoomyHamster
ZoomyHamster

Gg

SwirlyPickle
SwirlyPickle
Google13mo

I'm in the same boat as you. Have close to 7L. I've put 2 in an FD for emergencies. Have started an SIP in 3 MFs and also invested in SGBs and an ETF.

The only thing is I'm really scared of investing more than 10k in one thing.

Following.

WobblyDumpling
WobblyDumpling
Amazon13mo

If you want to invest in gold, SGBs are the best option. Only consideration is your money will be locked for 5/8 years if you want tax free gains. If you do not want to optimise the gains, sgbs can be sold in secondary market anyways

SwirlyHamster
SwirlyHamster

Anything Adani

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