Hello ,
I am 25 Years old and have recently finished my higher education. I want to start investing for the first time now, but I am a little clueless. I understand things theoretically but practically no experience.
I am unmarried, soon to be married next year. I am working on contractual basis so dont have any epf and stuff.
My monthly salary is Rs 42,000.
I live with my parents and currently dont have any loans, emi or expenditure per se.
I want to utilise this period of less responsibility to invest well. I don’t have any particular goals in mind like buying a car or buying a house per se.
Here is what I am thinking.
Starting with investment of Rs 10,000 p.m.
Go for a basic term insurance with LIC. (waiting for them to go online !)
Go for a PPF in SBI for Rs 2000 per month.
Go for equity upto Rs 5000 pm. SIP in mutual funds.
Gold etfs of about Rs 2000 pm.
and yeah thats about it.
questions:-
1. do you think i should increase the money as i have no responsibilities right now ?
2. I dont know any other better form to invest in debt apart from ppf. Is there anything else I should consider?
3. how to go about sip ? as in whats the first step. ? just start with fundsindia or moneysights?
4. should I diversify right now in large and mid cap/small cap ?
5. Should I invest in a tax saving instrument ?
5. should I invest in gold etfs per month ?
Thanks in advance ,
any help would be much appreciated.
thanks ,
Garima Chabbra