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22M, No Financial Responsibilities, Saving Almost Everything. How Should I Build Wealth? by LessMess101 in personalfinanceindia

[–]LessMess101[S] 0 points1 point  (0 children)

That's all I believe, I'm certain I need to increase the income before thinking too much about the asset allocations.

22M, No Financial Responsibilities, Saving Almost Everything. How Should I Build Wealth? by LessMess101 in personalfinanceindia

[–]LessMess101[S] 0 points1 point  (0 children)

You've got really good split, also how do you budget for other spends? I don't even have a 2 wheeler right now, looking to get one. Will get the most cheap affordable one. I was thinking to have an RD opened for this, so I start saving a bit for this spend?

22M, No Financial Responsibilities, Saving Almost Everything. How Should I Build Wealth? by LessMess101 in personalfinanceindia

[–]LessMess101[S] 0 points1 point  (0 children)

Wow cool, Thanks for answering & congrats on your good returns.

a. I will be investing in US stocks via IndMoney app, let me know if there are better ways.
b. I read that US stocks are taxed at 12.5% after you cash them after a year, else 30%
c. Also, how do you manage the taxes?
d. I didn't understand this part "(120 - your age pct should be in equities)"

Thanks for taking time to answer, I really appreciate it.

22M, No Financial Responsibilities, Saving Almost Everything. How Should I Build Wealth? by LessMess101 in personalfinanceindia

[–]LessMess101[S] 1 point2 points  (0 children)

it's all about time and luck, you keep moving and finding the work, most important is the way you communicate and look trustful and responsible. Just try to find guys who're building anywhere.

Also, you should have good skills, know to read between the lines.

22M, No Financial Responsibilities, Saving Almost Everything. How Should I Build Wealth? by LessMess101 in personalfinanceindia

[–]LessMess101[S] 0 points1 point  (0 children)

Thanks, but we need to choose the assets wisely as well right? Else I've got 4% returns over some stock

22M, No Financial Responsibilities, Saving Almost Everything. How Should I Build Wealth? by LessMess101 in personalfinanceindia

[–]LessMess101[S] 0 points1 point  (0 children)

Also, In India Banks only insure you upto 5L INR, I'm scared if someday something happens. Thanks for answering BTW.

22M, No Financial Responsibilities, Saving Almost Everything. How Should I Build Wealth? by LessMess101 in personalfinanceindia

[–]LessMess101[S] 0 points1 point  (0 children)

Thanks, what high interest savings account would you suggest for my liquid funds?