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JUST GOT THE JOB? STARTED EARNING? TOP LESSONS FOR GREAT INVESTMENTS

JUST GOT THE JOB? STARTED EARNING? TOP LESSONS FOR GREAT INVESTMENTS

By : AHRAZ

Image Source : Career India

Starting investments with your first job can go a long way in providing financial security.

Image Source : Unsplash

Here are 5 things youngsters who just started earning should keep in mind about investing.

Image Source : Wallpaper Flare

Understand the basics of personal finance

These include saving, budgeting, investment products, retirement planning and tax planning.

Chalk Out your long-term financial goals

Investments should be based on your long-term goals (buying a house, early retirement, paying off student loans etc) and responsibilities.

Calculate how much to invest :

You can follow the 50:30:20 rule and set aside 20% of your income for investments. This number can increase based on your personal goals.

Understand your risk  tolerance :

The amount of risk you can take depends on your unique circumstances. Make investments accordingly.

Invest in equities:

Equities generally have higher returns. Given the long time you'll have to invest, this can be a smart choice.