Investment advice needed
Will complete 1 year at my job next month Looking for investment advice. Current income - 30k in-hand per month Rent+misc expenses - 15k Not supporting the family financially as parents are still working. Need good investment recommendations.
Need to shape my thought process to plan long term investments. On what lines should I think? Any platforms with credible information that I can use for research?
Grateful for advice and experiences
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Very classic rule but still relevant
Step 1. Get a Health insurance for you and your family
Step 2. Get a term insurance although you don't have dependents now but the premium gets decreased a lot of you get it early on
Step 3. Get a 6 months expenses worth of emergency fund parked in FD or some other safe and liquid assets
Step 4. Based on your risk appetite start equity exposure.
How you should distribute your equity is completely upto you. And right now you don't have enough corpus to dive into further investment areas.
Also you focus should be on increasing your income right now instead of getting the best investment strategy because you realise your perfect strategy over the years
Thank you so much !
I think you should also keep some hedge with gold etf/gold mutual fund as well along with equity but that's just an add on advice