Hi sir, I'm 24 yrs old just started working in new domain which is not relevant to my core studies (i studied msc in zoology ) but now working in as network engineer (bcos its one of my passion), wo i followed my heart voice.. For mow i started earning 15k as fresher , and i started investing in MF for about 1 yrs and my sip amount per month is 4k and plus lumpsum addition amount result in around 1 lakh with profit of 9 percent of my portfolio .. it's growing slow and steadily but i want to increase my savings and invest . Kindly advice on this your thoughts .. My holdings all are direct funds Parag flexi Icici nifty 50 index Icici bluechip Nippon small I don't want to diversify more that this in MF so i stop only with 4 mfs .. Thanking you for your advice

Ans: Starting your career in a different domain from your academic background is a brave move, showcasing your willingness to follow your passion. It's impressive how you've taken charge of your finances despite starting with a modest income. Keep up the good work!

Increasing your savings and investments is a wise decision, especially at a young age. Gradually raising your SIP amount as your income grows is a prudent step towards building wealth over time. Consistency is key in investing, and your commitment to regular investments will pay off in the long run.

Direct funds offer several advantages over regular funds, including lower expense ratios, potentially boosting your returns over time. However, managing direct funds requires expertise and time commitment. Considering your busy schedule, investing through a Certified Financial Planner (CFP) with expertise in mutual funds can be advantageous. They can provide personalized guidance, monitor your portfolio, and make timely adjustments as needed, ensuring optimal returns while you focus on your career.

While mutual funds are a solid starting point, exploring other investment avenues gradually can further diversify your portfolio and optimize returns. Consider learning about stocks, bonds, or alternative investments to broaden your investment horizon.

Continuous education about financial concepts and investment strategies will empower you to make informed decisions and navigate the complex world of finance effectively. Keep seeking knowledge and stay open to new opportunities.

With dedication, discipline, and a proactive approach, you're well on your way to achieving your financial goals. Keep believing in yourself and your abilities, and remember that every small step you take today contributes to a brighter financial future tomorrow.

Best Regards,

K. Ramalingam, MBA, CFP,

Chief Financial Planner,

www.holisticinvestment.in