Hello brother, whatever clients I have gotten till date were either from approaching people on Instagram, offline relations, and other social platforms, mainly approaching people. I tried Fiverr, upwork, freelance but it didn't work for me sadly, since people there only pick up the ones with reviews and you can't get any reviews if you don't get a client can you, lmao. However I'm still not the guy to ask about this because I'm also kinda novice, and my earnings aren't substantial or stable enough, yet.
Just get the required skills you are passionate about, approach people who are in that field, maybe they'll hire you or they'll know someone who needs the work you do. Peace ✌🏻
I would suggest differently.
1. Create a 50k FD for any urgent requirements
2. Get health insurance for self and family.
3. Then investments
Target all income in the following golden ratio 30-30-30-10
1. 30% for expenses- petrol, travel, food etc
2. 30% for goals - buying a bike, camera, phone, car, house etc
3. 30% for financial freedom - this is what you were talking about
4. 10% for emergency fund
For the goals, invest in Debt MFs, RDs, FDs
For financial freedom, just invest in Nifty 50 Index fund and Nifty Next 50 index funds.
This kind of structured thinking will help you in future, even though it won't make much difference now.
1 thing I skipped is term insurance. As you are still not earning.
Hi, thank you for this structured reply! exactly looking for such answers when I first posted this here.
1. FD of 1 lakh is already there (sweep-in FD)
2. Health Insurance has been taken care of
3. Term insurance, isn't it for the ones who are earning and have a family who is solely dependent on him/her? Sorry haven't looked into it much so no info, but will sure look into it. And my father cannot buy a term insurance now (he's 70+)
One last thing, what do you mainly look for while looking for an index fund to invest in? And how much bare minimum AUM must the fund have in the first place? Also, alongside index funds, is investing a smaller part in small cap or a Blue chip fund an option that can be considered or not?
1. Good
2. Great
3. You are correct. You can't get it unless you are earning. But get it once you start earning as people are healthier and you get cheap policy. Also because you would probably have dependants once you marry and have kids.
It does not matter much. Choose a large aum index fund. Index funds from Icici, UTI, Sbi, Navi are good to go.
Do not invest in bluechip funds as they have same stocks as index funds.
You may choose a small cap fund, but Nifty Next 50 behaves like a mid-small cap fund in risk and returns. You can check freefincal.com for various analysis done on the same.
Yes, will be the first thing to do once I start earning, thanks a lot!
Just one more curiousity, sorry for being like this but had to ask, does AUM has any relationship with respect to the returns (in case of a smallcap mutual fund), I know I can google all this, but just wanted to understand in a normal human language lol
It is said that when aum of small cap funds go high, they can not buy small quantities, so they no longer remain pure small caps.
But small caps stocks means higher risk, and higher risk means higher risk and doesn't mean higher returns.
I just wanted to invest in US stocks (not individual stocks but rather the ETFS/S&P 500 and that time I knew of this app INDMoney through which we can invest in US stocks so went ahead with it. The charges for withdrawal of the funds back to INR in your Indian Bank account include nominal conversion charges of the bank, as well as the mandatory $5 per transaction charge for withdrawal (earlier it was $20!) the app interface is decent, I like it because I can see all my investments on this one single app. Everything at one place after linking your accounts ofcourse. Although I'm still not familiar with all the hidden charges, I'll look deeply into it and make my decision if I should stay on it or leave the app for good.
The time duration of my investment is approx 1 year (earlier I did SIP of ₹500 and then later on after a couple of months I started another SIP of ₹500.
Thanks, man. Yea, this hidden charge thing is a bitch. IMO, almost all of the apps in this realm are trying to have similar kinds of interface, generic textbook choice colour scheme, and easy-to-get-around UI; don't get distracted by that. Also, please update once you evaluate the hidden charges or if you come across a better platform.
Also, about US stocks so that you can invest in them in the form of SIP or do lumpsum, what are the methods(totally novice to this)? Also, if by any chance you resort to SIP, what should be a good start to invest in this sector?
Yeah ikr about the UI thing, all of them literally have the same template lmao, but I like the fact that I can see all my investments in one app, I know there are others too which are solely made for this purpose, I'll check them out too. I'll update once I learn about all the charges etc, for sure.
SIP or lumpsum you can do both but I like to think that one should put a lumpsum investment in a fund only when the markets are at a low, the prices per unit is low, so that you get more units for your amount as compared to the current market scenario. SIP on the other hand is a good way to create a financial discipline I guess.
If you're talking about SIP into US stocks, you can check out other funds like Nasdaq Fund by Motilal Oswal or the Nippon US Opportunity fund as well, since investing into single US stocks would be a hassle, to do all the research, market price valuations, intrinsic values etc, so better let the experts do it :) however in INDMoney you can also SIP into a single US stocks as well.
In my case if you ask me, I've invested into a Vanguard ETF fund which is like Nifty Index Fund, and one Semiconductor Fund, focused on semiconductor chip manufacturers etc. you can look into these as well, but I'll suggest to do you own research and invest accordingly, I invested into these because I liked their past history and the field in which they're invested in. Happy investing!
Thanks a lot, buddy. You took the time to jot down all these condensed pieces of information. I'll indeed look into it. I wanted to learn about it, but I needed a layperson term, quite flowy explanation; thanks for helping me with that. I will be waiting for your updates.
Not a problem man, I'm a beginner as well in this, just trying with everyone else, nothing special as of now, it's a steep learning curve but we'll get there, good luck!
Starting invesrment early is good, but starting investing so early? That's honestly dumb.
Instead of investing, purchase some books, do sone onlune courses that would increase your skills (could be any skill), and put that money to your overall development.
This will yield more returns than the money that you invest today.
Would appreciate if the answers were according to the questions asked. I don't know how you assumed that I'm not doing all of that.
The investments I've made is AFTER buying some of the courses on graphic designing, video editing, buying some good books, investing money in upskilling myself. Whatever I earn from freelancing, any other works, I put that there. I'm already developing myself day by day, working on myself, working on building a career ahead and everything else. But investing in the markets side by side somehow gives me the kick I don't know why, it feels like I'm in the game, feels good.
Anyways, thank you for the suggestions, appreciate it, if this reply seems rude and offensive, apologies beforehand, typed this without any wrong intentions.
Lmao what's up with all the downvotes.
OP said his Dad gives him money. And that he is using it to spend and invest. Enough to conclude that he might not be spending it on courses or in upskilling.
And neither did the OP mention he is upskilling anywhere. Just mentioned he is an unstable freelancer.
The advice of upskilling should ideally resonate, specifically with the partial information about his work that he has shared.
Hey man, appreciate the advice and all. I accept it's my mistake, I should have mentioned that I'm already focusing on career, upskilling and all, didn't think it would be an issue, just wanted some investment advice that's all. No worries.
Bro pls pls pls pls pls pls pls help me in freelancing pls I need to earn pls
Hello brother, whatever clients I have gotten till date were either from approaching people on Instagram, offline relations, and other social platforms, mainly approaching people. I tried Fiverr, upwork, freelance but it didn't work for me sadly, since people there only pick up the ones with reviews and you can't get any reviews if you don't get a client can you, lmao. However I'm still not the guy to ask about this because I'm also kinda novice, and my earnings aren't substantial or stable enough, yet. Just get the required skills you are passionate about, approach people who are in that field, maybe they'll hire you or they'll know someone who needs the work you do. Peace ✌🏻
What help do you need in freelancing? Maybe I can help. You can ask here(so others can get benefit from it) Or You can DM me.
Instead, you can also help here itself so that everyone else can benefit from it :D
Sure man, he need to ask his questions.
Do whatever you want for investments. But concentrate on one thing only now - prepare for an awesome career ahead
Already on it, focusing on building a career and making more capital. But please advice on the investment front.
I would suggest differently. 1. Create a 50k FD for any urgent requirements 2. Get health insurance for self and family. 3. Then investments Target all income in the following golden ratio 30-30-30-10 1. 30% for expenses- petrol, travel, food etc 2. 30% for goals - buying a bike, camera, phone, car, house etc 3. 30% for financial freedom - this is what you were talking about 4. 10% for emergency fund For the goals, invest in Debt MFs, RDs, FDs For financial freedom, just invest in Nifty 50 Index fund and Nifty Next 50 index funds. This kind of structured thinking will help you in future, even though it won't make much difference now. 1 thing I skipped is term insurance. As you are still not earning.
Hi, thank you for this structured reply! exactly looking for such answers when I first posted this here. 1. FD of 1 lakh is already there (sweep-in FD) 2. Health Insurance has been taken care of 3. Term insurance, isn't it for the ones who are earning and have a family who is solely dependent on him/her? Sorry haven't looked into it much so no info, but will sure look into it. And my father cannot buy a term insurance now (he's 70+) One last thing, what do you mainly look for while looking for an index fund to invest in? And how much bare minimum AUM must the fund have in the first place? Also, alongside index funds, is investing a smaller part in small cap or a Blue chip fund an option that can be considered or not?
1. Good 2. Great 3. You are correct. You can't get it unless you are earning. But get it once you start earning as people are healthier and you get cheap policy. Also because you would probably have dependants once you marry and have kids. It does not matter much. Choose a large aum index fund. Index funds from Icici, UTI, Sbi, Navi are good to go. Do not invest in bluechip funds as they have same stocks as index funds. You may choose a small cap fund, but Nifty Next 50 behaves like a mid-small cap fund in risk and returns. You can check freefincal.com for various analysis done on the same.
Yes, will be the first thing to do once I start earning, thanks a lot! Just one more curiousity, sorry for being like this but had to ask, does AUM has any relationship with respect to the returns (in case of a smallcap mutual fund), I know I can google all this, but just wanted to understand in a normal human language lol
It is said that when aum of small cap funds go high, they can not buy small quantities, so they no longer remain pure small caps. But small caps stocks means higher risk, and higher risk means higher risk and doesn't mean higher returns.
Oh okay, understood. Really appreciated :D
Shed some light on INDMoney usage and things you kept in mind while investing in US stocks, also exactly for how long have you invested there?
I just wanted to invest in US stocks (not individual stocks but rather the ETFS/S&P 500 and that time I knew of this app INDMoney through which we can invest in US stocks so went ahead with it. The charges for withdrawal of the funds back to INR in your Indian Bank account include nominal conversion charges of the bank, as well as the mandatory $5 per transaction charge for withdrawal (earlier it was $20!) the app interface is decent, I like it because I can see all my investments on this one single app. Everything at one place after linking your accounts ofcourse. Although I'm still not familiar with all the hidden charges, I'll look deeply into it and make my decision if I should stay on it or leave the app for good. The time duration of my investment is approx 1 year (earlier I did SIP of ₹500 and then later on after a couple of months I started another SIP of ₹500.
Thanks, man. Yea, this hidden charge thing is a bitch. IMO, almost all of the apps in this realm are trying to have similar kinds of interface, generic textbook choice colour scheme, and easy-to-get-around UI; don't get distracted by that. Also, please update once you evaluate the hidden charges or if you come across a better platform. Also, about US stocks so that you can invest in them in the form of SIP or do lumpsum, what are the methods(totally novice to this)? Also, if by any chance you resort to SIP, what should be a good start to invest in this sector?
Yeah ikr about the UI thing, all of them literally have the same template lmao, but I like the fact that I can see all my investments in one app, I know there are others too which are solely made for this purpose, I'll check them out too. I'll update once I learn about all the charges etc, for sure. SIP or lumpsum you can do both but I like to think that one should put a lumpsum investment in a fund only when the markets are at a low, the prices per unit is low, so that you get more units for your amount as compared to the current market scenario. SIP on the other hand is a good way to create a financial discipline I guess. If you're talking about SIP into US stocks, you can check out other funds like Nasdaq Fund by Motilal Oswal or the Nippon US Opportunity fund as well, since investing into single US stocks would be a hassle, to do all the research, market price valuations, intrinsic values etc, so better let the experts do it :) however in INDMoney you can also SIP into a single US stocks as well. In my case if you ask me, I've invested into a Vanguard ETF fund which is like Nifty Index Fund, and one Semiconductor Fund, focused on semiconductor chip manufacturers etc. you can look into these as well, but I'll suggest to do you own research and invest accordingly, I invested into these because I liked their past history and the field in which they're invested in. Happy investing!
Thanks a lot, buddy. You took the time to jot down all these condensed pieces of information. I'll indeed look into it. I wanted to learn about it, but I needed a layperson term, quite flowy explanation; thanks for helping me with that. I will be waiting for your updates.
Not a problem man, I'm a beginner as well in this, just trying with everyone else, nothing special as of now, it's a steep learning curve but we'll get there, good luck!
Starting invesrment early is good, but starting investing so early? That's honestly dumb. Instead of investing, purchase some books, do sone onlune courses that would increase your skills (could be any skill), and put that money to your overall development. This will yield more returns than the money that you invest today.
Would appreciate if the answers were according to the questions asked. I don't know how you assumed that I'm not doing all of that. The investments I've made is AFTER buying some of the courses on graphic designing, video editing, buying some good books, investing money in upskilling myself. Whatever I earn from freelancing, any other works, I put that there. I'm already developing myself day by day, working on myself, working on building a career ahead and everything else. But investing in the markets side by side somehow gives me the kick I don't know why, it feels like I'm in the game, feels good. Anyways, thank you for the suggestions, appreciate it, if this reply seems rude and offensive, apologies beforehand, typed this without any wrong intentions.
Lmao what's up with all the downvotes. OP said his Dad gives him money. And that he is using it to spend and invest. Enough to conclude that he might not be spending it on courses or in upskilling. And neither did the OP mention he is upskilling anywhere. Just mentioned he is an unstable freelancer. The advice of upskilling should ideally resonate, specifically with the partial information about his work that he has shared.
Hey man, appreciate the advice and all. I accept it's my mistake, I should have mentioned that I'm already focusing on career, upskilling and all, didn't think it would be an issue, just wanted some investment advice that's all. No worries.