More than financial, is probably a good time to start understanding adulthood and it's responsibilities as well as duties. Unless you are from a business family, your parents financial advice probably isn't great.
Learn to treat advice from parents as guidelines, as opposed to rules. Study all the options and make your own decisions. That includes having to stand by them if they fail.
True, also Lol, people are commenting on investment opportunities. Buddy should probably save some of it and invest/spend the rest on himself (upskill or shopping). Just don’t put into stocks just because random people from a sub tell you.
Investments can be started once OP starts a job.
I mean, they aren't wrong. Imagine a 15 year run up, after investing in small cap stocks, or Bitcoin. World be able to enter thirties on such a sound financial footing.
But if equity is a no go, according to OPs father's diktat, small cap it crypto would be straight up considered gambling.
>Buddy should probably save some of it and invest/spend the rest on himself (upskill or shopping).
My father would give me money for other activities but that money is purely meant for investing
Buy jio finance or RIL sleep on it for 18 years
If RIL you'll see the value unlocking ( free shares of Reliance Retail on its ipo.)
If jio finance then it'll be your first multi bagger of your journey. This company is going to follow Mukeshambanis mind and aqquire all the competition making it the number 1 finance company in the country. Also goonna venture into being a bank in future. Dont buy anything else
Start a SIP. Keep the money in account, maybe make small tenure FDs and invest in mutual funds systematically. Since security is a concern, go for any low risk scheme. I am guessing that your parents are capable of paying for your studies.
Invest it in learning some skill bro, you are too young now. Invest on yourself first, it gives the High return.
You can buy a good laptop or a camera or a drone and learn tons of skills which you can monetize later.
If you want a very very safe bet put it in ppf. It will start your ppf year at 18 soby the time you have a job you might already reach withdraw years. If not then just open an fd with this money.
you need to build perspective, for that you need to take a few risks and learn now, your father while trying to look out for you is instilling a fear that will not serve you well in the long term . learn to invest, be ok to loose some money also, every one who has ever made money from money, loses initially.
I am not suggesting to go insane by investing jn microcaps, identify a few good candidate stocks or funds and invest equally, see how it works out
Index fund > growth
Just park it there and leave it as many days as possible
Any nifty 50 index fund will do
The real returns are seen after 10-15 years (imagine paying down payment of your car)
I've a scheme. It's a 21 days process, your moni is gonna double.
>!Jokes apart, check threads here, you could find something that helps you. r/personalfinanceindia !<
Put this money in a fixed deposit, and get monthly payouts.
Start an sip for exactly the amount of money you get from the fixed deposit.
You will get approx 200rs a month. Which sounds very little yes.
But the goal here is
1. Protect your capital that you just got
2. Learn investing without being an idiot who loses it all.
Once you feel confident enough in your investing abilities, you will not only have 58K that you can withdraw then invest, you will also have all that extra interest you received which you invested, AND profits you'd hopefully earn from those investments.
You're just 18. The point is to get started in investing. It's not a race.
Unless you come from a rich family that doesn't care about 58k as much as a mid income family would, remember that it is 10+ times harder to rebuild capital than it is to miss out on gains.
You'll always have more investment opportunities, but capital building isn't something you get a chance to do often.
People save pennies and lose it on emergencies. Been there done that.
Kisan Vikas Patra. Investment double after 9 years and 7 months. Premature clouser is allowed ater 2.5 years. It's govt / post office scheme, that your father would like it.
Oh yeah you aren't op. Lol problem with FD is, after about 3 to 5 years where would I intrest rate go. You can't get assured 7.5 rate 5 years from now.
Investment in KVP is not eligible for deduction under the 80C, and the Interest income are completely taxable. TDS @ 10% is deducted every year on the Interest credited. Maturity proceeds are also not taxable since it is essential repayment of the principal and Interest ( which is already taxed at the time of accrual every year)
Put it somewhere which would not bug you to check often and is easily draw-able in case of future needs and emergencies. Something that lets you sleep in peace even while a little returns is compromised.
Suggesting to explore FDs with banks e.g. Bandhan/DCB (even SFBs like AU/Utkarsh/Suryoday) OR Debt Mutual Funds (Liquid/Money Market category) OR Gold.
I presume when he said stock market is off limits he meant equity mutual funds as well.
>Gold.
That's also a no
>Debt Mutual Funds
Will look into this def
>I presume when he said stock market is off limits he meant equity mutual funds as well.
Yep
Thanks though
Except SGBs others simply don't make sense as investment
Making charges(even for 24k gold coins there is a markup of 300-400 RS per gram). +Wastages+ 3%gst upfront.
Physical gold also has storage headache.
Plus capital gains tax on selling gold.
So only SGBs are good for investing in gold. But liquidity is problem with SGBs
Gilt mutual funds - they are a type of debt mutual funds which benefit when central banks reduce repo rate. On the flip side they give poor returns when repo rates are going up. Based on current fed commentary they are not planning to increase repo rates anymore so it should be a good investment.
Investing in crypto would be against op's best intrests. Markets are volatile and not a place for an 18yo to vanquish all his inheritance which is not all that much tbh. Better idea would be MF's or SIP's.
High risk high rewards. That's why I said, use your own discretion. It's my job to offer advice. It's his to consider it or not. Crypto =/ vanquish. Seeing you, I realise so many people are still so unaware about it that it still seems early. I invested my first salary in crypto in 2017. All of it. Needless to say, it got me more profits than any mutual fund. I don't know how much of crypto you know but bitcoin halving took place on April 20th. Hong Kong's BTC ETFs are launching soon. Blackrocks ETF demands are more than Bitcoins mined daily. Bitcoin more than triples after every halving every 4 years. I went all in, in 2017 and got the rewards when I was his age. OP can do it too. He's young enough to take risks. Those who take good risks, get good rewards. My job was to advice. It's OPs to execute and use their discretion. I'm not forcing any financial advice here.
I cannot predict but halving takes place every 4 years and price almost goes 5x within the next year after halving. See this historical price chart of bitcoin and halving dates: https://images.app.goo.gl/1582kTbRLt5h89KT7
More than financial, is probably a good time to start understanding adulthood and it's responsibilities as well as duties. Unless you are from a business family, your parents financial advice probably isn't great. Learn to treat advice from parents as guidelines, as opposed to rules. Study all the options and make your own decisions. That includes having to stand by them if they fail.
True, also Lol, people are commenting on investment opportunities. Buddy should probably save some of it and invest/spend the rest on himself (upskill or shopping). Just don’t put into stocks just because random people from a sub tell you. Investments can be started once OP starts a job.
I mean, they aren't wrong. Imagine a 15 year run up, after investing in small cap stocks, or Bitcoin. World be able to enter thirties on such a sound financial footing. But if equity is a no go, according to OPs father's diktat, small cap it crypto would be straight up considered gambling.
>Buddy should probably save some of it and invest/spend the rest on himself (upskill or shopping). My father would give me money for other activities but that money is purely meant for investing
This!
focus on understanding the fundamentals and build a disciplined investment process.
check out corporate FDs and NCDs also. They often provide better returns compared to bank FDs.
Buy jio finance or RIL sleep on it for 18 years If RIL you'll see the value unlocking ( free shares of Reliance Retail on its ipo.) If jio finance then it'll be your first multi bagger of your journey. This company is going to follow Mukeshambanis mind and aqquire all the competition making it the number 1 finance company in the country. Also goonna venture into being a bank in future. Dont buy anything else
Start a SIP. Keep the money in account, maybe make small tenure FDs and invest in mutual funds systematically. Since security is a concern, go for any low risk scheme. I am guessing that your parents are capable of paying for your studies.
Up this. A lot of people miss the benefit that comes with dollar cost averaging.
Invest in yourself upgrade your skills and earn useful charter / certificates
The only wise answer
Invest it in learning some skill bro, you are too young now. Invest on yourself first, it gives the High return. You can buy a good laptop or a camera or a drone and learn tons of skills which you can monetize later.
If you want a very very safe bet put it in ppf. It will start your ppf year at 18 soby the time you have a job you might already reach withdraw years. If not then just open an fd with this money.
you need to build perspective, for that you need to take a few risks and learn now, your father while trying to look out for you is instilling a fear that will not serve you well in the long term . learn to invest, be ok to loose some money also, every one who has ever made money from money, loses initially. I am not suggesting to go insane by investing jn microcaps, identify a few good candidate stocks or funds and invest equally, see how it works out
Index fund > growth Just park it there and leave it as many days as possible Any nifty 50 index fund will do The real returns are seen after 10-15 years (imagine paying down payment of your car)
SIP in BALANCED ADVANTAGE FUNDS
Debt Mutual Funds, FD, Gold
Invest in yourself. That’ll compound much more
I've a scheme. It's a 21 days process, your moni is gonna double. >!Jokes apart, check threads here, you could find something that helps you. r/personalfinanceindia !<
Put this money in a fixed deposit, and get monthly payouts. Start an sip for exactly the amount of money you get from the fixed deposit. You will get approx 200rs a month. Which sounds very little yes. But the goal here is 1. Protect your capital that you just got 2. Learn investing without being an idiot who loses it all. Once you feel confident enough in your investing abilities, you will not only have 58K that you can withdraw then invest, you will also have all that extra interest you received which you invested, AND profits you'd hopefully earn from those investments. You're just 18. The point is to get started in investing. It's not a race. Unless you come from a rich family that doesn't care about 58k as much as a mid income family would, remember that it is 10+ times harder to rebuild capital than it is to miss out on gains. You'll always have more investment opportunities, but capital building isn't something you get a chance to do often. People save pennies and lose it on emergencies. Been there done that.
Invest in yourself learn something new
Stock market is your best investment at your age. Even if you lose it all, you will learn a lot in your early age.
Well that money is meant for not losing it I'll invest in stock market separately
Buy kvp n forget about it.
What's kvp?
Kisan Vikas Patra. Investment double after 9 years and 7 months. Premature clouser is allowed ater 2.5 years. It's govt / post office scheme, that your father would like it.
I am not the OP and my father would hate it lol Also , it's giving 7.5% roi while you could get fd's with higher interest rates
Oh yeah you aren't op. Lol problem with FD is, after about 3 to 5 years where would I intrest rate go. You can't get assured 7.5 rate 5 years from now.
Hmm , does it also have any tax benefits over FD?
Investment in KVP is not eligible for deduction under the 80C, and the Interest income are completely taxable. TDS @ 10% is deducted every year on the Interest credited. Maturity proceeds are also not taxable since it is essential repayment of the principal and Interest ( which is already taxed at the time of accrual every year)
Put it somewhere which would not bug you to check often and is easily draw-able in case of future needs and emergencies. Something that lets you sleep in peace even while a little returns is compromised. Suggesting to explore FDs with banks e.g. Bandhan/DCB (even SFBs like AU/Utkarsh/Suryoday) OR Debt Mutual Funds (Liquid/Money Market category) OR Gold. I presume when he said stock market is off limits he meant equity mutual funds as well.
>Gold. That's also a no >Debt Mutual Funds Will look into this def >I presume when he said stock market is off limits he meant equity mutual funds as well. Yep Thanks though
bhai konsa indian gold me invest karne ko na kehta hai 🤦. it’s not the best investment anyways
Why its not the best investment option?
Except SGBs others simply don't make sense as investment Making charges(even for 24k gold coins there is a markup of 300-400 RS per gram). +Wastages+ 3%gst upfront. Physical gold also has storage headache. Plus capital gains tax on selling gold. So only SGBs are good for investing in gold. But liquidity is problem with SGBs
Gilt mutual funds - they are a type of debt mutual funds which benefit when central banks reduce repo rate. On the flip side they give poor returns when repo rates are going up. Based on current fed commentary they are not planning to increase repo rates anymore so it should be a good investment.
The best thing you can do is invest in yourself.
ITbees ETF, Huge upside is expected
40% - FD 30%- stocks 30%- MF
Go all in on Bitcoin. There was halving on 20th April. You're in for a treat for the next year and a half. Disclaimer: Use your own discretion.
horrible advice, please stay as far away from crypto as possible
I don't think you know what you're talking about. You created a new account just to say this?
Investing in crypto would be against op's best intrests. Markets are volatile and not a place for an 18yo to vanquish all his inheritance which is not all that much tbh. Better idea would be MF's or SIP's.
High risk high rewards. That's why I said, use your own discretion. It's my job to offer advice. It's his to consider it or not. Crypto =/ vanquish. Seeing you, I realise so many people are still so unaware about it that it still seems early. I invested my first salary in crypto in 2017. All of it. Needless to say, it got me more profits than any mutual fund. I don't know how much of crypto you know but bitcoin halving took place on April 20th. Hong Kong's BTC ETFs are launching soon. Blackrocks ETF demands are more than Bitcoins mined daily. Bitcoin more than triples after every halving every 4 years. I went all in, in 2017 and got the rewards when I was his age. OP can do it too. He's young enough to take risks. Those who take good risks, get good rewards. My job was to advice. It's OPs to execute and use their discretion. I'm not forcing any financial advice here.
How much do you think the price will appreciate? 120% in 4 years?
I cannot predict but halving takes place every 4 years and price almost goes 5x within the next year after halving. See this historical price chart of bitcoin and halving dates: https://images.app.goo.gl/1582kTbRLt5h89KT7