Before Investing First Identify your risk appetite, Not just Young person any one who invests their money should understand their risk appetite and diversify their portfolio. But there are some general suggestions that will help you plan for you portfolio allocation.
Generally if you are under 30 you are having less responsibilities there you can take more risk, so you can give more allocation to stocks, in that specifically give more allocation to direct stocks and f% through Mutual Funds.
If you are between 30 to 45 , there will be household expenditure and your risk appetite also decreases so increase allocation in stabilized goods like Gold.
If you are between 45 to 60, you risk appetite further reduced and reduced your stock market allocation and increase allocation in Gold and Real Estate and there are chances of sudden crisis so keep sufficient money as cash also.
If you are above 60, your risk appetite will be further reduced ,because some time you may want money in next year or any uncertain condition so reduce your allocation in stocks, And there are some other ways like FD also which are highly secured and as a senior citizen you may get additional interest also, Invest in more stabilized forms.
Image source: Finology
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