As we all know how important it is to start investing at an early age, we are also aware of the fact that investing has its ups and downs, we panic when the market falls, we switch our funds, we put a halt to our investments and whatnot. So, taking the first step in investment can be exciting and intimidating. 

In this blog, we will cover some tips for taking those initial steps into the world of investment.

Before starting your investment you need to understand your finances including your income, expenses, and debt. Here you can apply the 50:30:20 rule, which says that 50% of your income must be spent on your needs, 30% of your income on your wants, and 20% for building an emergency corpus. Once you are done with building your emergency corpus you can plan your investment goals with 20% of your monthly income in mutual funds.

 The second step is to set your goals with a timeline, which can help you choose an account type and suitable investment. The next step is to research and learn about different investment options including mutual funds, stocks, bonds etc. This knowledge will help you identify which investment option aligns with your goals, risk tolerance, and financial position. 

Once you identified the investment option, now it is time to evaluate their risk and returns. As a beginner investor start with a low-risk investment and then you can gradually increase your risk level
The best way to get out of all this confusion is to do a reality check and market research. Research helps us to choose wisely when it comes to investing.
Finally, develop an investment plan that aligns with your financial goals and risk tolerance. Create a diversified portfolio that includes a mix of low-risk and high-risk investments to balance out potential losses. Monitor your investments regularly and make adjustments as needed to stay on track.
The other question that boggles our heads is to choose the right platform that is safe, secure, reliable, and hassle-free. Create an account with FundsIndia to experience the best and most personalized services.

Start your first safe investment NOW!