How to Invest at Every Age? - HDFC Life
There is no denying the fact that the sooner you start investing the better. Having a nest is important to help you deal with unforeseen expenses and be useful to you in old age. The sooner you invest, the more you will receive due to the power of compounding.Â Here are the investments you should make during each decade of your life.
Investment in 30s- The best thing about being in your 30s is that you have a lot of time to experiment as far as where and what to invest in goes.
You can invest in the stock market. With minor losses also, you will have enough time to recover.
Invest in real estate- You can invest in a Home or a rental property.
Invest in your Workplace- Contribute 15% of your salary to your Provident Fund account so that you have a larger sum of money when you retire.
Invest in stock funds and ULIPs. So, if youâ€™re relatively risk tolerant, you should invest 70 percentÂ to 85 percent in stock funds and the remainder in bond and cash investments. Or, if you want to go the easy route, choose a target date mutual fund and your assets will start out more aggressive when youâ€™re younger and automatically become more conservative as you move closer to retirement.
Investment in 40s- Now is the time to start looking at investment plans if you havenâ€™t.
Invest in your workplace- If you havenâ€™t contributed yet to your employerâ€™s saving funds, you should aim at contributing 20% of the same starting now.
Start asset allocation. Asset allocation in your 40â€™s will lean more toward bonds and fixed investments than in your 30â€™s.Â The conservative, risk averse investor might be comfortable with a 60 percentÂ stock and 40 percent bond allocation.
Investment in your 50s- Investigate your current income, projected income, and tax situation. 60 percent stock investments and 50 percent bonds is a good mix for most investors. The results of your analysis will influence the best investments in your 50s. Investigate creating investing income streams. Shift some of your investments into higher dividend paying stock and bond funds.Â
It makes sense to systematically plan your investment be it at any age, it will help you in yielding financial results once you retire.
Invest in HDFC Lifeâ€™s plans as per your requirement and risk appetite and make the right decision starting now.
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"The thumb rule for retirement planning is - the earlier you start, the more you save. However, with age, your priorities change too. So, you need to factor in the cost of living in the present vis- a -vis future."
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