Edelweiss CEO Radhika Gupta shares '5 money tips' for youngsters who have just started earning
It may sound cliche but time is the most valuable asset, and investing in your twenties can play a significant role in your financial success in later age. Money invested in the 20s could be compounded for decades. Radhika Gupta, CEO of Edelweiss Asset Management Company has shared five 'money tips' for those who have just started earning. In a tweet, Gupta wrote, «5 pieces of money advice I would give my 22-year-old self (who just started earning)…».
Also read: How Edelweiss’ Radhika Gupta is rebalancing her own mutual fund (MF) portfolio
According to AMFI Vice Chairperson, starting investment should be the main goal and not compunding. Gupta, who began investing after two years in the job, called it a bad idea. She wrote that starting early investment allows individuals to help in making sound decisions at later stages.
The delay in investment, «claws at you and when you start you make rushed decisions because you feel you missed out (I did). Starting early helps you ease into the process, test the waters, and make mistakes on small capital,» Gupta wrote on the X platform.
The early investment would only help if individuals develop habits of reading and analysing stock, Gupta added. «Also, read and study your options well before you start. Young people often fall prey to the cocktail party and what my friend is investing in syndrome, and it usually ends up hurting badly,» the author of the book Limitless wrote.
Gupta suggests that young people, who are in their early 20s need not have to be 100% or largely equity because they have time on their side. «Everyone needs some liquid contingency money in debt...so choose the asset allocation that works for you. I really believe the best one is the one that doesn’t let your
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