I just joined my first job. What are the broad suggestions for investment?
For those of you who are around or under 30:
- Make your big investment on home as early as possible. By doing so you will be debt free by the age of 45. It is advisable to be debt free at 45, because your other expenses like children eduction will be picking up very drastically.
- If you are lucky of being inherited the house, go aggressive in equity mutual funds through SIP root. Hire a Finance planner if you are not well versed with identifying right investments for you.
- Don’t reduce power of your money by investing in LIC, FDs, RDs etc.
- Don’t think you are too young to think seriously about investing. Time flashes by, leaving you in Financial challenges.