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Business News/ Money / Personal Finance/  Identifying a goal is a great start for any young investor
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Identifying a goal is a great start for any young investor

Being a conservative investor, one can start by investing some money in a fixed deposit with a tenure of two-three years

Photo: MintPremium
Photo: Mint

Nishith Baldevdas, registered investment adviser and founder of Shree Financial, feels the young software professional is on the right path. “By having the goal of providing for her higher education, she has identified a goal and that is a great start for any young investor," he says. According to Baldevdas, the next steps for her should be as follows.

Also read A young techie deals with covid expenses and medical insurance

1. Being a conservative investor, she can start by investing some money for her higher education in a fixed deposit with a tenure of two-three years.

2. Before she starts investing in mutual funds, she should become more conversant with the types of mutual funds, her goals and her risk appetite. She can then venture into liquid funds and ELSS schemes as planned.

3. She should avoid sovereign gold bonds and real estate for the time being as she needs to maintain liquidity for her higher education.

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ABOUT THE AUTHOR
Neil Borate
Neil heads the personal finance team at Mint. A former colleague called them 'money nerds' and that's what they are. They cover topics like mutual funds, taxation and retirement, all to improve your chances of building wealth. Neil graduated with a degree in law and economics. He passed the CFA Level I exam and began his writing career at Value Research, a mutual fund research firm in 2016. He joined the personal finance team Mint in 2019. Everyday, the Mint Money Team tackles personal finance questions such as where to invest and where to borrow, through articles, charts and reader queries. They also have a daily podcast - 'Why Not Mint Money' and an annual ranking of mutual funds - the Mint 20.
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Published: 17 May 2021, 02:14 AM IST
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