Are You Young Here's How to Invest

I will not waste this space telling how important is young generation for India. Everybody knows! I will talk about changes in lifestyle, way young India works, & and how they should treat their finances. Life style expenses have gone up & their share as a percentage of spend also has gone up.

Please continue spending in excess. You will not grow old, you will not retire, you will get salary increments of 20% year on year, you will not have a family, you will never be spending on medical bills, house & car will come automatically. If you feel so, please stop reading the article. The lesser mortals, please continue.

Remember you studied for the exams or for that interview - does your life deserve any less preparation. Take simple steps below.If you feel you need to ask anything from our expert, post a question at BankerBhai.

1.     Calculate your NET WORTH. Net Worth is difference of "What You OWN" and "What you OWE". Sum all the things that belong to you - house, car, savings, gold, anything. Subtract from it, whatever you have to pay - home loan, car loan, anything else. What remains is your Net Worth. That's where you start.

2.      Assess your income & spending per month - You should know how much you are spending and how much is available to you. That's the start for moving ahead. Do anything to capture this - but do it for a month.

3.     List down your goals - Higher education, Car, Home, Kids' marriage - anything. List it down. Short Term, Medium term, Long Term. Take help from Investment professionals on how to achieve them. Remember your result in point 2 - a lot depends on that figure.

4.     Yes, you maybe going for a motorcycle expedition this year but are you conservative or aggressive investor when it comes to deal with your money. Basis this, you will have to readjust your figures you found out in points 2 & 3.

5.     Run for Cover - You ought to have necessary Life Insurance & Health Insurance covers. Statistically, these 2 things contribute the most in derailing family's investment plans and reducing their Net Worth. Use services of Investment expert to find it out & take relevant covers.

6.      You are going to get old, save for that. We don't realise but many of us will die poor. Unless, we plan to avoid this situation. Take help of experts to find out your exact need and how much you need to save monthly & where to Invest. Plan for your Retirement.

7.     Emergency Fund - Rule of thumb - you should have enough savings available instantly totaling upto 6 months of your expenses. You have a Plan B for office work - emergency fund is plan B for your financial health.

Please seek investment advice from a professional. And Party!! But remember point 8 - Rebalance & Readjust your portfolio at regular intervals.

ASK any Investment related Query at https://www.bankerbhai.com/ & get answered by Experts.

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