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
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.
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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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