I need suggestions with investing in SIPs , Fixed deposits or any thing?
My salary is 30 LPA, and I want to start investing but have no idea how to go about it. My only current EMI is ₹70,000 home loan +personal loan. What would be the best investment strategy for me?
Cover the basics first. A health insurance covering your whole family. A term insurance if you have dependants. At least 6 months of your monthly expenses as an emergency fund. You can build it with an RD or an SIP towards liquid/arbitrage fund. I suppose your personal loan interest will be above 10%. It’s difficult to generate that much of returns in the current volatile market. I’d suggest you better get rid of it at the earliest. Once all the basics are covered, you can start investing across the equity and debt instruments depending on your risk tolerance.
Investment money to be split between equity/debt/metal/property/crypto/cash(liquid)
Usually 1 index fund and a flexicap are sufficient for most folks. This is for equity.
Have some in fd/debt funds .
Have some in gold(physical if you can secure it, else etf)
You already are paying emi for property.
Crypto is highly volatile, still the crypto market is costly, wait for more downside and invest in btc and eth only, don't go for alt and meme coins.
Most important, cash. Can act as a cushion to your emergency fund, can help you increase your allocation in any of above when you see a good investment opportunity, can be used to start a new investment ( like in a business)
Invest in gold fd and sips equally
