To really get rich, a college student must invest first in their human capital. I am not joking. Do these things:
- Put every single Rupee to learn new skills – online courses
- Dont hesitate about buying high quality books and study material
- Go apply for an internship to get real world exposure. Chances are you will also get paid.
- Participate in industry events to hear where trends are (i used to even gate crash as a student into paid events)
Yes, stock market sills are important too. But do not risk too much here – only invest money that you dont need for 3 years atleast.
- Open a zero brokerage demat account and buy the index itself. Buy Nifty 50 ETF and Nifty Next 50 ETF. Alternative is an equivalent equity index fund in direct plans. This is where you must put half of your savings.
- The other half invest in stocks that you personally know well. Build a thesis around a problem or trend that you are experiencing. Find out about the company, study their annual reports and use online screeners to know more. Invest a small amount and see how it pans out. If you see it is working and the company is growing, then invest a bit more. Over time you will lean enough to start re-investing hte money you make from your primary source, which is your career into the market and create long term wealth. Contact Wealth Managers or Investment Advisors if necessary.
Happy Investing!
