How To Invest In Your 20's and Be Wealthy Early in Nepal |Share Market Investing |Freelancing| NFTs?
Автор: GYANmandu
Загружено: 2022-03-07
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Hello Viewers ! Welcome to our Channel Gyanmandu.
When we are in our early 20s, most of us are actually growing into an adult. While is it is nice to be growing, it is also the time when many of us enter the job market with a realization that we have to work seriously and earn to pay the bills and live the kind of life we desire.
The early 20s is also the period when by taking a few smart steps, you can ensure to be wealthy in your 30s and beyond. You can make this possible by making your money work for you by following a smart investment strategy in a disciplined way.
When you are in your early 20s, you must have heard that time is on your side and your money can compound. Actually, what happens is that if you start investing at the age of 20 and invest till the age of 55, the final corpus will be much larger than what you may get if investing from the age of 25 because of the power of compounding. Initially, you won’t see a lot. But if you start investing early, you will see amazing returns, due to compounding at a later age.
You will be surprised to know that even Warren Buffet started investing when he was 11 years old. Currently, he has a net worth of around 103 billion dollars. Interestingly, around 100 out of the 103 billion dollars came after Warren Buffet’s 65th birthday!
Now, you may be thinking about how to start investing, how much to invest and where to invest.
Thanks to several apps, investing is as easy as playing a game on a smartphone these days. But to know how much should you invest, the trick is as much as you can. The more the better!
How much to invest
The first thing you need to do is save as much as you can to invest. For this, you can divide your income into three categories – Needs, Wants, and Savings.
Dedicate a fixed percentage of your income towards savings. The Thumb rule is 50:30:20 i.e. 50% for needs, 30% for wants, and 20% for savings. But now that many of you are living in your homes due to work from home, you may afford to dedicate a larger part of your income to savings.
If you dedicate a fixed amount to saving, you will be disciplined. And, you need to be disciplined in your 20s for better returns at a later age. The saving you want to do every month should be a realistic number. You should optimize it. Spend but not splurge!
Before investing
First, It is not right to immediately start investing. Instead, you should clear off your debts (credit card dues, loans, etc.) as these make you pay very high interests.
Second, ensure you have your life and health insurance. Insurance covers are necessary to meet unexpected emergencies.
Third, have an emergency fund. This can be equal to 3-6 months of salary expenses. An emergency fund can also be created along with investing.
Fourth, invest in yourself. Learn new skills or buy new equipment that may help you do earn more.
Where to invest
There are three options: Equity, Debt, and Alternative investment
Equity investment can be done via direct stocks or mutual funds. Investing in direct stocks is very cumbersome and tricky. For starters, an equity mutual fund is an easy option for investing in equities.
In this video, we have mainly covered the following things:
0:00 Introduction
4:13 Do's in Stock Market ?
11:48 Don'ts in Stock Market ?
14:38 Portfolio Management ?
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