Hi everyone,
I’m 21 years old and just started earning. My monthly salary is ₹50,000.
My expenses are around ₹20,000, so I save ₹30,000 per month.
I don’t have any dependents.
I’ve managed to save a decent amount now, but I’m very confused about what to do next.
This is my first time saving seriously, so I need my money to stay liquid because I want to keep an emergency buffer. I also need to buy health insurance for myself and my parents soon.
My father suggests putting everything in FDs because they are safe, but I feel the returns are very low. I want moderate risk, decent returns, and flexibility. I don’t want my money locked for many years.
I honestly don't know a lot investing and personal finance and any advice or suggestion is welcome for immediate assistance or long term for life. I need suggestions for investment.