Know anything about Investments/ making money ?

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After working for two years, I am at a position where I can think of doing something with my earnings other than just feeding myself. I do maintain a savings account & have a fair bit saved for a rainy stormy day but I'd like to know what else I could do. I don't know nothing about Investments/ shares/ stocks but I'd like to start. Basically, I am looking for options that would help me earn some extra cash outside of my work without really having to work. Something that would bring in returns. I am open to all sorts of Ideas. Please suggest. Thank You.

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So ?? Nothing ??

Actually your have not elaborated on your situation and savings enough. Let us know the savings you have made ,your present income and your expectation and we are sure to come up with something.

I have learned quite a bit about this kind of stuff over at reddit.com/r/financialindependence/top

May be you can find something relevant. Or better still, ask the question there as well.

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Hey guys sorry for the extremely late reply. To answer freshseasons questions, I currently earn 20k at my job as salary and around 5- 7k more from freelance. So, on an average, my monthly income would be 25- 30k. Out of these, I can easily save away at least 12k. That is after paying all the rent, bills, food expenses, travel, partying etc etc. So instead of just bank deposits, I want to know what I can do with my savings that would help me better in the long run. Investments, Life Insurance, I am pretty clueless about these things. I don't even know what to expect. So any help would be appreciated. Thanks a lot.

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Well a bump was required...hoping this thread will be a good resource.

@himadri_sm: I suggest u create a FD & also RD.

to save tax & healthy future:
-EPF
-PPF
-LIC
-Mediclaim

also it depends if u r single or married?
if not married then u can take some higher risk such as investing in stocks,bonds,infras
though u need very good knowledge before trying those

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Yeah I am thinking about the FD. I am not married yet so I actually have an option of the high risk investments, although I don't know where to start.

himadri_sm said:
Yeah I am thinking about the FD. I am not married yet so I actually have an option of the high risk investments, although I don't know where to start.

yes choose for higher interest rate > 9%
even though FD has higher rate of interest but R.D do make wonders...without a burden in pocket

go through this site: The Money Quest

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You can start doing freelancing and earn some real money and for some side income you go find a 9-5 job

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Zangetsu said:
yes choose for higher interest rate > 9%
even though FD has higher rate of interest but R.D do make wonders...without a burden in pocket

go through this site: The Money Quest

Yeah I'll go through the banks. What exactly is a recurring deposit? I read online but it was still confusing. I don't plan to get married in the next 5 years, so planning to start investing. I'll go through the site. Thanks a lot.

If you guys have any experience/ inputs/ tips for investing in stocks/ bonds etc. please share. Thanks.

himadri_sm said:
Yeah I'll go through the banks. What exactly is a recurring deposit? I read online but it was still confusing.

Click here

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ha ha yeah I read those. Sorry.

FD accounts are good considering they give like 8-9% interest and are pretty much riskfree. Each bank gives different interest rate. So go around and see which one gives the highest and deposit there.

Mutual funds and other investments are risky if you don't know what you are doing

Deposits in Banks are pretty much riskfree and give around 5-8% depending on type of savings. However , if you are looking forward to higher returns , you should probably look towards Investment in Shares and Stocks.
They do come with risks , and fluctuate a lot.

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R2K said:
Mutual funds and other investments are risky if you don't know what you are doing

Rishi. said:
However , if you are looking forward to higher returns , you should probably look towards Investment in Shares and Stocks. They do come with risks , and fluctuate a lot.

I know there are risks involved but I am willing to learn the ropes. And yes, I am looking forward to higher returns. :-D

himadri_sm said:
I know there are risks involved but I am willing to learn the ropes. And yes, I am looking forward to higher returns.

You should get in touch with some investment broker and ask about the details.

And piece of suggestion is that take time to learn and analyse the market. Spent little at startup.

Wow, nice to see people are planning to invest.

FDs are great if you want an assured return. However it gives a 9% types return, out of which 20-30% will go in tax when you take that money out. So net return is (at 20%) 7.2% and since inflation is more than that so you are actually losing money.

For stocks, MFs and all start reading up on moneycontrol or similar sites. The moneycontrol guides are a great place to start. After that start tracking companies, a simple way would be to start investing first in blue chip companies. The return in lower but the risk of losing money is also low. Get a DMAT acc and put small amounts each month (please don't be greedy and put large sums, even experts haven't figured out how the market works) since your money is on the line, you'll get incentive to read up

Moneycontrol will give you all the gyan on balancing portfolio and all. If you want some thought provoking sites try up subramoney

Let me know how it goes

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hey thanks izzikio_rage. I'll go through those sites. Seems like I have a lot to learn.

himadri_sm said:
hey thanks izzikio_rage. I'll go through those sites. Seems like I have a lot to learn.

people invest in Gold also but that was hot for investment few years back now its not...
Equity is best of all to get highest returns...
you can also invest in real estate for higher returns (many people do this :-D

)

@himadri: so where did you end up investing. How is it going?

incase you're still looking for good fd schemes,

the other day, i saw in IDBI that you get a return of 9.5% for a period of 555days. better than Andhra bank which offered 9.3% return.

You also have the option of investing in FD in local corporation banks ( slightly higher risk, but they offer more returns )

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izzikio_rage said:
@himadri: so where did you end up investing. How is it going?

lol haven't even started. Too busy with other stuff to even think about it. Making it a new year resolution for 2014

ashs1 said:
incase you're still looking for good fd schemes,

the other day, i saw in IDBI that you get a return of 9.5% for a period of 555days. better than Andhra bank which offered 9.3% return.

You also have the option of investing in FD in local corporation banks ( slightly higher risk, but they offer more returns )

Thanks for the info. I'll consider these once I actually start doing something

idk how much you have saved but you mighy also wanna do some research about land. buy land now and get like 2x or 1.5x price after a few years, or maybe buy houses and give them on rent( but you gotta have money for this)

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himadri_sm said:
lol haven't even started. Too busy with other stuff to even think about it. Making it a new year resolution for 2014

Thanks for the info. I'll consider these once I actually start doing something

if you are just starting out and willing to take risks, but dont have enouh time to track the stock markets, I would recommend that you start with Mutual Funds (MF), and the easiest way is through SIP (systematic investment plans), where you decide a figure and invest on a particular date every month in the fund.
Start with a reputed Equity diversified fund like - Birla Sunlife Frontline Equity Fund, Kotak Opportunites or DSP Blackrock Top 100.
Start with something small, say 500/1000 and increase as you gain confidence.