So you just finished your studies and joined the workforce. I can imagine the excitement and anticipation for what the future holds. I also understand that you would want to spend it on all the different things that you had in mind for a very long time. So yes, go ahead and do that. Don’t hold yourself back. Of course, it can’t go on for a long time. After a few months, you need to get a grip on your savings and more importantly investments. Just saving is not good enough, you have to invest it in order to earn something out of it.

 In investing, Time is of great essence, the more time your money stays invested, the more impactful the investment becomes. It helps in de risking your investments, especially equity investments. Also overcomes the inflation challenges. Second is consistency, investing in spurts is not going to help in any way. Consistency instils discipline and thereby helps in building your portfolio brick by brick. As they say, Rome was not built in a day.

After the initial excitement subsides, start the habit of saving small amounts every month. Do this for the first 3-4 months till the savings habit gets inculcated. That done, now start exploring the investment options, read, ask, listen, meet people who can help you with the process. It is important to first understand the investment journey and then see where and how you can be part of this journey. Look for financial advisors who can guide you through the process.

Have an open discussion with your advisor, tell them about your salary details, expenses, how much you can save, your goals, dreams, aspirations. This will help you prepare a plan for yourself. When you invest with a plan, you give your money a direction to follow. Every penny invested has a purpose. When a purpose is attached to the penny, it will motivate you to save and invest on a regular basis.

Also understand that the plan that you start is not cast in stone, your life evolves constantly, you may find a partner after a few years, have a child, may have to look after your parents. Your salary will see changes over your working years. As life evolves, so should your financial plan, so keep your financial advisor in the loop of any developments so that they can iterate the plan accordingly.

Remember investments come with risks, and every individual has a different risk-taking capacity, find out yours. In this journey, you will find many giving you ‘advice’ on investment or gloating about their investments. Wish all of them luck and move on. Listen to all of them and do what you think is best for you.

Keep the investment journey simple and boring. The less you fiddle around with your portfolio, the more chances of it performing. Investing is not meant to entertain you or give you thrills; it is supposed to help you achieve your goals. Give it time and attention so that it deserves.