How can I start investing ? Yogesh, 06 Nov 2012

I am 30 and havent started investing. Please advice me on how to start and best tax saving schemes

Fintotal Answer

Hi Yogesh It's better late than never. First of all get a term life insurance and mediclaim cover in place, if you aren't adequately insured. Next keep aside savings worht about 6 months expenditure for contingency needs. Now you're ready to begin investments. Plan investment according to goals. For long term goals accruing anytime after 5 years allocate 70% of investments in  mutual funds. Of this 70% should go to a good diversified equity fund and 30% can go to a good mid cap fund. The remaining 30% can be invested in FDs, PPF or other debt products with maximum 10% in gold. If your income is taxable you can claim tax deduction up to Rs 1 lac for investing in PPF, NSC, certain mutual funds etc. For details on this go through this Ready Reckoner.

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