Money Matters
Managing your money can be tricky. Send your queries, and personal finance experts will help you resolve any issue
- Jun 24, 2019,
- Updated Jun 27, 2019 9:41 PM IST
The best option is to start investing in an equity fund to grow your wealth. But equities are more volatile, and one should switch to a debt fund after three years to protect downside risks. If you have a lump sum to start with, the investment amount should be about Rs 2.9 lakh. In case you want to opt for a five-year SIP, we would still advise the same. But in this case, you should set aside Rs 6,500-7,000 every month for systematic investment.
The best option is to start investing in an equity fund to grow your wealth. But equities are more volatile, and one should switch to a debt fund after three years to protect downside risks. If you have a lump sum to start with, the investment amount should be about Rs 2.9 lakh. In case you want to opt for a five-year SIP, we would still advise the same. But in this case, you should set aside Rs 6,500-7,000 every month for systematic investment.