6 Financial Tips For Young Adults

Smart financial planning in your early years lays the foundation for long-term stability and success, says rediffGURU Milind Vadjikar.

• You can ask him your investment related questions HERE.

Begin with creating an emergency fund that will cover six months of your expenses.

Get pure term insurance cover of adequate value with accident benefit and critical illness riders.

Open an NPS account for retirement planning.

Invest in mutual funds for all other financial goals based on your risk appetite, financial profile and time horizon.

Avoid direct exposure to stocks since it can be quite volatile in the short to medium term.

You may seek help from a mutual fund distributor (MFD) if required.

• You can ask rediffGURU Milind Vadjikar your investment related questions HERE.