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Dia Mirza: 'I bought a house when I was 20'
The Bollywood actress shares investment tips as well as the best and worst investment decision she's taken so far.
Dia Mirza recently inaugurated a new branch of Syndicate Bank near her house in Bandra's Pali Hill area.
We caught up with her and quizzed her about turning producer. Her investments and the best thing she did with her salary.
You've recently turned producer. What are your learnings as a producer?
Production is life changing because it is a people-driven job. It is all about people management and ensuring that work happens. Production has taught me the importance of being patient and meticulous.
The other thing it's taught me is that humility pays because people recognise that.
I've also learnt that it is as important to love your peers as it is to love your job.
'Being independent at 17 made me money wise'
Did being a producer make you money wise?
I suppose being independent at 17 made me money wise more than anything else.
Initially, when I started earning I couldn't wait to spend the money.
Over the years I've become more comfortable with the idea of spending money though. I've never depended on my family.
However if there was one thing I learnt about money is that you cannot be penny-wise and pound-foolish.
'I shouldn't have panicked when the markets crashed'
What is the best investment decision you've made so far?
Buying an apartment at Pali Hill (in Bandra). I was 20 at the time. Today the prices have shot up and when I look back I think it was the wisest thing I did.
What is the worst investment decision you've made so far?
I had invested in mutual funds and when the market dropped, I panicked and pulled out. I should have let it stay I wouldn't have lost as much!
'When the markets are down, don't panic'
Five investment tips for young Indians
Save money in traditional forms of investments like fixed deposits.
If you can, buy property but buy it at the right time, not when the markets are going through the roof.
If the stock markets are down don't panic. Hold on to your stock.