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!
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.
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
How do you plan to get to 25L by end of ‘24? Saving almost 1.5L a month?
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.
Got it, makes sense
Start with Actively Trading into the Equities market. Stay the hell away from options and futures and you will be good.
Gg
Hello folks. While I'd like to remain anonymous very much, here's what I can share about myself.
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Hi all , I have some 10 lacs of savings which I don't want to keep idle in the bank for obvious reasons, I need suggestions on where I can invest for the next couple of years with Medium risk involved. TIA.
