As a 27 year old person, it is likely that:
- You have already spent a few years time in a job.
- You have an idea of what you are earning, and more importantly how much you are spending.
- You are either married or planning to do so soon and so have an idea of the upcoming events in life that require cash to be accumulated.
With this in mind, here are a few strategies:
- Invest Early. Someone starting at age of 27 and investing upto 60 will earn 3x times more than someone starting 10 years later.
- Invest for Clear Goals: Ensure you invest for something that makes you happy (home, child’s future, your personal freedom etc). It should not be the life of a denial!
- Diversify: Invest in a mix of funds/assets that reduce your risk. Check your risk profile here.
- Go only for Direct Plan and 0% commission bearing investments. Avoid ULIPs, Regular Plan Mutual Funds. This can earn you 40% more.
- Dont go for “FREE” products. If all is free, then perhaps you are the product.
Invest frequently frequent investing a habit, use an app like Jamawealth.com to get started and stay the course.
