The ULTIMATE INVESTING GUIDE for Beginners | Best Ways to Invest (2024 Edition)

Do this before investing

1. Emergency Fund:
– Purpose: It serves as a financial safety net in unforeseen circumstances like job loss, medical emergencies, or urgent home repairs.
– How much to save: Generally, it’s recommended to have enough to cover 3-6 months of living expenses.
– Where to keep it: This fund should be easily accessible, ideally in a high-yield savings account or a liquid fund.

2. Term Insurance:
– What it is: Term insurance is a type of life insurance that provides coverage at a fixed rate of payments for a limited period.
– Importance: It’s crucial for those with financial dependents to ensure their family’s financial security in case of the policyholder’s untimely demise.

3. Health Insurance:
– Why it’s needed: Health insurance covers medical expenses, which can be financially devastating without coverage.
– What to consider: Look for a policy with a sufficient cover, considering factors like family health history, coverage for critical illnesses, and network hospitals.

4. Repay Your Debts:
– Strategy: Prioritize high-interest debts like credit card balances. Consider debt consolidation or refinancing for better interest rates.
– Importance: Reducing debt lowers financial risk and interest expenses, freeing up more money for investments.

Next, consider your investment strategy based on risk appetite, investment goals, and time horizon. Here are major categories to consider:

1. Fixed or Recurring Deposits:
– Characteristics: Safe, predictable returns, best for short-term goals.
– Consideration: Generally offer lower returns compared to other investment types.

2. Mutual Funds:
– Types: Equity-Linked Savings Scheme (ELSS) for tax-saving, Index Funds for passive investing – Active Funds for high risk appetite individuals.
– Benefits: Diversification, professional management, suitable for a range of investment goals.

3. Gold:
– Options: Sovereign Gold Bonds (SGB), Gold Exchange-Traded Funds (ETFs), and Gold Mutual Funds.
– Role in Portfolio: Acts as a hedge against inflation and market volatility.

4. Bonds:
– What they are: Debt instruments where an investor loans money to an entity (corporate or governmental) that borrows the funds for a defined period at a fixed interest rate.
– Risk and Return: Generally safer than stocks but with lower potential returns.

5. Real Estate:
– Investment in property: Can be for rental income or capital appreciation.
– Considerations: Requires significant capital, subject to market risks and liquidity concerns.

6. Direct Stocks:
– What it entails: Buying shares of individual companies.
– Considerations: High risk and high potential returns, requires market knowledge and active management.

All in one Playlist :

Do this Before investing :

Mutual Funds

Gold

Bonds

Stocks

Chapters
0:00 Intro
0:11 Why Invest?
2:01 Do this before investing
5:46 Which type are you?
6:32 FD/RD
7:22 Mutual Funds
11:15 Gold
13:15 Bonds
14:29 Real estate
16:38 Stocks

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