I would like to explore and start investing for retirement. I am in early 30’s . Would like to know more
Sharing some basics for investing:
Set your goals: Before investing, it’s important to determine your financial goals. What are you investing for? Are you trying to save for a big purchase (a few years away), retirement (decades away), etc.? Good part is that you have already answered this question. To learn some of the basics of personal finance you could start with these books:
Let’s talk Money by Monika Halan
Rich Dad Poor Dad by Robert Kiyosaki
Three Pigs to Financial Freedom by Rishi Piparaiya
One up on Wall Street by Peter Lunch
Educate yourself: Take the time to learn about different investment options and how they work. There are a variety of investment vehicles available, such as stocks, bonds, mutual funds, and exchange-traded funds (ETFs). Learn from experienced tutors whether online or offline.
Start small: It’s not necessary to invest a large sum of money right away. Start with a small amount that you’re comfortable with and increase your investments over time. Once you have established a solid budget and are on your way to paying off debt, you should consider investing earlier rather than later in order to take advantage of compound interest. Saving and investing are broader topics and what you invest in depends on your risk tolerance. Here are a few more books that introduce you to some of those concepts.
Common Sense on Mutual Funds by John C. Bogle
Indian Mutual Funds Handbook by Sundar Sankaran
Market Wizards by Jack Schwager
The psychology of Money by Morgan Housel
The little book that still beats the market by Joel Greenblatt
Choose an investment account: Consider opening a broking account or paper trading. Many online brokers offer low-cost investment options and allow you to buy and sell investments online.
Diversify your portfolio: Diversification is key to reducing risk in your investment portfolio. This means investing in a variety of different types of investments, rather than putting all your money into one stock or fund.
Stay the course: Investing is a long-term strategy. Avoid making impulsive decisions based on short-term market fluctuations and focus on your long-term financial goals.
P.S: Sharing a list of few more books for your reference. Hope it helps:
Mutual Funds For Dummies by Eric Tyson
Bogle On Mutual Funds by John C. Bogle
Mutual Funds: Ladder To Wealth Creation by Vivek K. Negi
How To Make A Fortune Through Mutual Funds by Ashu Dutt
The Mutual Funds Book by Alan Northcott
The Mutual Fund Industry by R. Glenn Hubbard
A Guide To Indian Mutual Fund Investments by Dr. Susanta Kumar Mishra
Beating The Street By Peter Lynch