Investment advice
I currently make around Rs. 2.6 Lacs a month from salary. What % of it should I invest and where? Currently invest 30k in mutual funds. YOE - 3.5 Unmarried
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Build an emergency fund equivalent to 6 months of your expenses in FD, liquid or arbitrage funds. Make sure you and your parents are covered by health insurance. You don’t need a term insurance unless you have dependents. Invest the rest of the amount in mutual funds. 75% in equity and remaining 25% in debt and gold considering your age. Equity funds can have a further allocation of 50% in large cap and 25% each in mid and small caps. Don’t really worry about the returns until your corpus is 10 times your annual income. Till then focus on yourself, improve your skills and salary. Once your corpus hits 10 times your income, start thinking about maximising the returns.
Wow what's your ctc for 3.5 yrs? 2.6 is awesome