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POSTED BY ON October 3, 2013 5:23 pm COMMENTS (3)
Hi Manish!
I read your book titled ”5 Things You Should Know Before Investing” from Bestsellers18 from CNBC TV18.
I would be grateful if I could pick your brain for a while, regarding investment strategies for a person starting out. A little background about me first;
Name: Biswadeep Chakravarty
Age: 22 yrs.
Monthly Income: 30,000 INR Per Month
Investments: 40,000 INR in FD in 2012, will mature in 2015 @ 9% Compounded Quarterly
As you can see the investments made by me are in FDs which are obviously safe yet don\’t really give a rate of returns.
Now, I would like to know what other options do I have in terms of investing further. I would like to invest in a recurring manner (I believe they are called SIPs, correct me if I am wrong), in an instrument which would be growth oriented. I am young, and I can invest an initial amount of at least Rs. 5000 p.m. I am looking at a rate of return of 12% p.a. I would like to be invested for a minimum period of 5 yrs.
Goals I have in mind on the horizon, are buying a house, wedding plans, then maybe a sports bike(will probably have to be before the marriage right? 🙂 )
Glad and grateful if you could give me some insight!
Regards
Biswadeep Chakravarty
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Dear Biswadeep, have you ever tried this thing?
Gone to railway station. When at the ticket counter, clerk ask you the destination, you said, give me the ticket of destination of your own choice?
Think over it and answer.
Thanks
Ashal
Hi Ashal!
Thanks for the reply. To tell you the truth I haven’t pegged each individual goal financially. I can however tell you that I’m looking to buy a house, which can wait btw, in a tier two city, Pune preferably, so the relevant property prices in the city would apply.
The bike, around Rs. 1-1.5lacs and the wedding, well, depends on the Mrs.! (certainly economical not lavish)
Actually, the idea behind putting those goals out was mainly to perceive my financial planning and to seek guidance as to, given my financial details and investments, the right way forward. I am an absolute greenhorn when it comes to this. So would love to know some areas where I can start investing.
As you can see, I’m certainly sold on the “Start Early” mantra!
Cheers
Dear Biswadeep, if these goals happen today, what ‘ll be the Price tag for each goal?
Thanks
Ashal