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DizzyTaco
DizzyTaco
IBM

How to grow my money!

Hey all, I am a s/w engineer from bangalore and I want some guidance in saving and growing my money, I do sips every month for around 15k also I pay a monthly rent of 18k and I send some money back home around 15k. But apart from sips I am really confused where to park the rest amount.

My aspiration - I want to buy a flat in bangalore in next 2 years.

Monthly in hand - 1.14lk

Thanks 😊

9d ago
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FuzzyPretzel
FuzzyPretzel
Stealth9d

Increase your SIP. Invest in Nifty 50 and gold etfs.
Also maintain a FD (so you can have peace of mind)

SparklyBiscuit
SparklyBiscuit
Stealth8d

OG advice I also follow the same

SleepyUnicorn
SleepyUnicorn
Microsoft4d

Any good gold etf you can suggest? And if gold etf better than mf ?

FluffyPickle
FluffyPickle
Walmart9d

Ask ChatGPT

WobblyCupcake
WobblyCupcake
Stealth8d

@chatGPT

QuirkyDumpling
QuirkyDumpling
Stealth8d

If you goal is to buy a flat in next 2 years, and you are saving for that. Then it is very risky to invest in equity mf. Goal is very near, you should invest the money in fd or money mkt or arbitrage fund(considering tax efficiency). However for long term (atleast 7 or more years) you can consider doing sip in equity or aggresive hybrid funds.

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