Financial Planning for Doctors | Investment Plan for Doctors, Medical Staff | MBBS | NEET PG

How much should I save? What kind of investments should I invest in? Should I even invest at all?

Compounding well is the biggest crater of it hi this is abhijit kaji and i am the co-founder of kanyamed today we are going to talk to you a little bit about investing in finance advice how should i say what kind of investment should i invest in should i invest at all these are some of the questions that are going to come up time and again in your life if you are a

Medical professional and are looking for smart financial advice you will come to the right place here are some investment options based on the salary you are earning and the stage in the career that you are medical professional salaries vary depending on the on the position and the city you live in pure midterm you can earn as much as 15 to 15 000 rupees a month

As you have less money to save and invest you can choose safer options and something that could really work is a mutual fund mutual funds are easy to start and it’s safer than stocks a mutual fund is basically a type of investment consisting of a portfolio of stocks debt bonds and other types of security it gives investors access to dividends and professionally

Managed portfolios these funds are divided into several kinds of categories representing the kinds of securities they invest in their investment objectives and the type of returns they seek you could start from as small as 500 rupees of a systematic investment plan every month which will automatically get deducted from your bank account without you going to the

Portal itself to put the money the biggest advantage of a mutual fund is it is diversified and it is professionally managed basically this means the risk is really diversified for the high times in the market and the low times mutual funds give you access to stock market without really needing to do any kind of research yourself since the fund manager takes care of

All of the buying and selling you don’t really need to have any knowledge of investing i think a disciplined approach to mutual funds can really help in well building over the time just disciplined approach of giving 500 rupees a month will make you will compound your wealth for years to come if you play the long game you can leverage the power of compounding and

To grow your savings as you grow older if you’re a resident you may earn in the range of 50 000 to 90 000 per month you can try stocks along with mutual funds the stock market is where people buy and sell stocks or basically a share in the ownership with the stock exchange acting as a middleman today view buyers should buy a stock of hdfc bank or reliance you become

Become an owner in that company the participants can get can can be investors and traders who seek profits in the long term or the short term stocks are considered short-term investments because you don’t get a return until after a certain time stocks have a higher risk profile than mutual funds the best approach is to build your stock portfolio and invest in a

Few mutual funds if you’re an experienced medical professional you can earn one to three lap rupees a month now that you have a larger pool of money to invest and diversify your savings you can combine direct stocks mutual fund and real estate real estate is a very interesting choice because it helps diversify the pool even more that real estate is considered to

Be a different asset class it should at least be a part and should definitely be a part of a well-diversified portfolio one of the key ways investors can make money in real estate is to become an owner of a rental property rental properties may include vacation homes multi-family homes single family homes it could even include an office or a residential space if

The property value includes your investment rises too you earn passive income through the rental of a property buying a property has the potential to increase the value over time as well make sure you have enough cash set aside for the down payment and for closing cost one thing to highlight for real estate is that unlike mutual funds and direct equity it is not

As a liquid asset what i mean by that is you cannot sell it overnight and that is something to keep in mind when you get into investing in real estate these are the three investment options you can try to save money and also paint the long term couple of other generic general tips is to is save money as much as possible your debt under control and finally start

Investing as early as possible one it creates a sense of discipline and third is that compounding wealth is the biggest creator of it another final tip is that you know there’s a lot of buzz on cryptocurrencies i personally do not advise that you are spending a large part of your time in the hospital in the clinic and you’re earning this hard-earned money do not

Invest invest in highly risky assets without really much underlying intrinsic value i would stay away from cryptocurrency and focus on the three safer options that can help create wealth for you thank you

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Financial Planning for Doctors | Investment Plan for Doctors, Medical Staff | MBBS | NEET PG By KNYAMed