My advise to all those who have just entered into their PhD life and also to others, start investing NOW. With increased stipend, save at least 20% of the stipend. Ask some one if you are not aware of investment methods. In simple case, if you avoid investing, at the end of 5 years, you will have nothing with you. Now, suppose you start investing say 3K per month, i.e. 36K per annum, you will save 1,80,000/- in 5 years and if you book a profit of 20%, which is quite common, you will earn about 85,000, which adds up to 2,60,000/-. So, if a new PhD student starts investing right from day one, he can save up to 2,60,000/- by the time he passes out.
You may claim that you don't have any money to invest, don't worry, that will be the case even if you invest or don't. Had I not started investing last year, I am sure I would have just smoked that money some where in shopping or eating out.
So, what you waiting for? Start Investing NOW :)
sahii hai beta.. bahut maal bacha rahe ho! echo this advice in IIT. I am sure there would be many takers. I just hope you have invested in a credible, growing mutual fund!
ReplyDeleteCheers,
Abhishek
Some tips for the novice investors :
ReplyDelete- Do not fall prey to agents who sell ULIP schemes.
- Do not overexpose yourself to equity. Maintain a proper allocation between debt and equity instruments. Select balanced/hybrid mutual funds.
- Do not invest all money at single shot. Invest at regular intervals. Investing in mutual funds via SIP is the best option.
- Do not believe on tips. There is no shortcut to make money.
- Have a patience.