Hello Indian Investors, I am a fresh college grad just started out in the industry.
I would place my position as similar to this guy except with 0 earning/saving/investing experience(yet to receive my first paycheck) and very uncertain future plans.
Current financials : 1L/mo post tax income(w/o PF deductions), ~17k rent(wanted a place close to work)
I believe I should easily be able to save 60k a month, even 70k comfortably.
Life goals : Totally uncertain at this point. I might stay at my current job, or after 1-2 years go for a masters in India(for which I hope to not require any saved money and function out of provided stipend) or abroad(which I estimate to cost ~40L). If I go for an MBA however which is also an option, it would definitely be in India and cost a significant amount.
Liquidity needs : 0 family obligations and employer provided health insurance with 10% copay. So not a lot for emergencies. This is my estimate of my worst case emergency needs :
20k immediate
50k in 24 hours
1L in a week
So I can function with 20k in the bank and the ability to withdraw 50k in 24h and 1L in a week(all cumulative).
Tuition fees as liquidity needs, if I do choose to go that route, would be planned months in advance.
Given all that background and the fact that I have no immediate need for money, I want an investment avenue that has low risk over a long time horizon(say 10 years). Can you advise me on this, and also about taxation contingencies for if my plans change(say education, etc.)
Thanks a lot!
I would place my position as similar to this guy except with 0 earning/saving/investing experience(yet to receive my first paycheck) and very uncertain future plans.
Current financials : 1L/mo post tax income(w/o PF deductions), ~17k rent(wanted a place close to work)
I believe I should easily be able to save 60k a month, even 70k comfortably.
Life goals : Totally uncertain at this point. I might stay at my current job, or after 1-2 years go for a masters in India(for which I hope to not require any saved money and function out of provided stipend) or abroad(which I estimate to cost ~40L). If I go for an MBA however which is also an option, it would definitely be in India and cost a significant amount.
Liquidity needs : 0 family obligations and employer provided health insurance with 10% copay. So not a lot for emergencies. This is my estimate of my worst case emergency needs :
20k immediate
50k in 24 hours
1L in a week
So I can function with 20k in the bank and the ability to withdraw 50k in 24h and 1L in a week(all cumulative).
Tuition fees as liquidity needs, if I do choose to go that route, would be planned months in advance.
Given all that background and the fact that I have no immediate need for money, I want an investment avenue that has low risk over a long time horizon(say 10 years). Can you advise me on this, and also about taxation contingencies for if my plans change(say education, etc.)
Thanks a lot!