To a relatively new adult, what financial advice(s) would you give on how to and where to invest my money?
When you start investing often matters more than the amount due to compounding. Would suggest investing in index funds via monthly SIPs for long term goals.
Liquid funds over keeping money in savings accounts.
Keep some funds in debt as retirement corpus and for 80C savings - PPF is a good option.
Don’t take risk in debt by using P2P lending apps, better to invest in equity instead.
Also generic spending advice - use credit cards like debit cards, i.e., only spend an amount you have in your bank account.
Save first and then spend. Max out 80c. Take a term insurance.
What u save .invest in both debt and equity via mf.
Age# %= nifty50etf
100-age= in equity
Taking insurance is something that I would've completely missed. I don't know why, things for yourself never occur to you 😭
Thank you so much!
Till you hit like 50% of your peak salary, invest in yourself first. Otherwise simple index fund SIP and nothing else. But YOU first! Nothing can beat the gains you will have by investing in yourself. That + decent family health insurance + 1.5 cr term insurance should be good to start.
Those are some really good points! Thank you 😊
buy a house early in good location via emi and pay quick, real estate is going to pump up 20% more.
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