Best Investment Tips for Young People and For Beginners Investment should ideally begin at an early stage when there are no responsibilities and one can easily divert funds for saving, advices Sachin Karpe. For a beginner, three basic steps to saving money are Plan to be secure Plan to be comfortable Plan to be rich It may take a while to understand this but it can be very empowering. Bear in mind that no investment can give you an overnight return. Therefore, firstly get rid of all the debts like credit cards, educational loans etc. Then begin to save to feel secure so that no emergency can harm you and you remain monetarily strong. Best time to begin investing money is right when you start to earn. As the author informed you about three main steps to saving money, now lets us have a look at each one of them one by one. Plan to be secure: It is your onus to secure your life. This can be done by buying a term life insurance policy, so you are buffered of any life-risking danger. Save enough money, at least 3 monthsâ€™ contingency fund for any kind of emergency. This will help you feel confident about the next step. Once the securing pat is done, it is time to gear up for comfortable planning.
Once you have attained security of your investment, you are in a comfortable position to move ahead. Comfortable here would mean, staying comfortable without worrying much about having less money. A house of your own, a proper retirement plan, child education planning, health and medical planning are investments that will make you comfortable. These goals can be achieved by investments in life insurances, mutual funds, SIPs, infrastructure bonds etc that help reduce your tax burden under Income Tax Act 1961 section 80cc, this author tells us while educating on tax rebates. With these investments you can lead a comfortable and a content life. But to lead an abundant life, stay tunes to this space. Most people usually stop at comfort and never aspire to achieve more. They must be faced with some apprehensions that stop them from moving ahead. To become rich, and not just comfortable, you need to think beyond an average investor. It is not merely about investing money but about investor who knows the market in and out and does not fear losing money because an average investor or a stock broker does not lose money but does not make much either. It requires a lot of panache to study the market and make an appropriate investment, just like Warren Buffet. Such investments are mostly calculative. Sachin Karpe has always advocated the fact that if you have excessive cash, education and experience in investments, nothing can hold you back from getting rich. Catch Financial Adviser â€“ Sachin Karpe @ https://www.facebook.com/FinancialAdviser.SachinKarpe For regular financial and investment updates check his blog :