Ready to take charge of your finances? Join us for an exciting Live AMA on the Upstox Community!
This session is a must-attend for anyone looking to decode Personal Finance, whether youāre just starting out or looking to level up your money game.
Date: Thursday, 31st July
Time: 5:00 PM ā 5:45 PM
Topic: Personal Finance ā From budgeting to wealth-building strategies
Got questions about managing money better, budgeting smarter, or building wealth step-by-step? This is your chance to get real, actionable insights directly from *Priyanka Acharya*, a finance expert whoās been helping individuals make confident financial decisions for over 15 years.
About Priyanka Acharya:
Priyanka is a powerhouse in the world of finance, with 15+ years of hands-on experience. Sheās an accomplished author, dynamic podcaster, and passionate TEDx speaker, known for breaking down complex money topics into clear, practical advice. In 2023, she was proudly recognized among Indiaās Top Women in Finance, a testament to her leadership, impact, and dedication to spreading financial literacy.
How to Join:
This thread will be your live Q&A hub. Drop your questions right here between 5:00 ā 5:45 PM on 31st July, and Priyanka will be answering them live. (No separate AMA post - everything happens in this thread!)
Mark your calendars, bring your questions, and get ready to transform the way you think about money!
For long term growth what percentage of allowances should be preferred in Mutual Funds and suggest which are the mutual funds that we should consider for long term.
Hi, @JANMEJAY_1111895,
Thanks for your question. Mutual Funds are a very preferred way to invest for all - short, mid and long term horizons. Ideally, we all need to allocate our āinvestmentā amount each month to multiple instruments to be able to diversify risk, returns and the lifestyle changes in future. Thereās no thumbrule, however, if you have 100 rupees to invest, you can divide this amongst low risk, medium and high risk. Letās say you chose 50 rupees for high risk, then park it in long term focused equity/growth type of funds. the remaining can go to liquid/short term and hybrid/midterm funds
How can I build an emergency fund, and how much should it be?
Which mistakes should I avoid while managing personal finance?
Hi @PRATIKSHA_32976892,
Emergency never comes with prior appointment! Hence, creating an emergency fund is of utmost importance. Emergency fund can be prioritized in 3 categories:
- Liquidity for expenses of next 3 months - if you have a contribution towards any family/dependents (I mean, for yourself, you may just delay the spends, but you canāt delay a childās school fees! That amount needs to be kept as emergency fund in case your income is not enough when fees are due!)
- Real emergencies: A simple heck on nearest hospital and basic bill on emergencies or accidents needs to be know. Even the security deposit to be paid initially will help you to know the amount to keep aside!
- Emergency for any device repair/replacement: Identify the gadgets you canāt live without a single day. For instance, your costly phone is damaged and you need to pay for it. Rather than eating on your savings account, park an average amount always as emergency.
in a nutshell, whether small or large, emergency fund needs its own space
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Hello Madam, I am 38 Year Old and an retired arm force personnel, I got retirement corpus of an amount of 90 Lakh, please guide how to invest in staggered manner and where to invest, I have my full family along with six month Baby, Regards
Glad to know @PRATIKSHA_32976892 you are so āmoney mindfulā! The world needs more like you! Quick mistakes to avoid:
- Jamming up everything - expenses, investments, splurge in the same bank account!
- Not keeping up to commitments - you decide a long term investment and then feel the urge to withdraw within a year due to some other priority
- Not having conversations about money with loved ones!
- Selecting investments only by looking at return %
- Having a bias towards instruments
- Skipping nominations and/or financial summary creation process
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Namaste @BIRESH_29584436 ! Firstly, salute to your service to the nation! As regards your retirement corpus - planning and structuring is a bigger priority and then comes execution. Create a roadmap of:
- emergencies that you need liquidity for
- financial priorities within next 3 years
- financial priorities within next 7 years
- financial priorities within next 10 years
- financial priorities within next 15 years and beyond
Now, ensure that you ādonāt put all eggs in one basketā. With this financial priority roadmap, you will be able to split your investible amount across time horizons. Next, make a division of these priorities in 2 categories - MUST to HAVE and GOOD to Have. For instance, childās education will be MUST to HAVE, but a world tour with family may be GOOD to HAVE>
Now, choose financial products based on this horizon. For mutual funds, always use the riskometer to see - Low risk is short term horizon while high risk is always long term horizon! This is a good start, while managing money will be your ongoing journey!
I am 30 yrs old I can take risk .. suggest me in what ratio I can diversify my portfolio
Thank You Madam, one more thing want to share, I have already invested around 20 Lakh prior retirement in equity. Once again thank you for your suggestion. Regards
What are risk involved in long term fund ?
Hi @user_49586294 - Since you have a good risk appetite you can create your allocation in a way that you accomodate more high risk instruments. However, be aware that high risk instruments generally work when thereās a long-term horizon and consistency by the investor. We are not looking at speculation here! If you have low short term - mid term priorities, then your allocation towards long term can be a higher percentage like, around 50-60 %
@BIRESH_29584436, amazing to know you have been sincere about investing! That investment would be already in its compunding journey.
As the name suggests, its a long-term fund. The biggest risk is withdrawing money in between the ongoing journey and losing compounding benefits!
Apart from this, market risks, economy risks are always present! When you choose long-term instruments, select something which will be promising in next 8-12 years and not necessarily which is trending now!
