BQPortfolio: Can 24-Year-Old Vikas Pathneja Own A House By 2028?
How should Vikas best allocate his funds to build his home, and save enough for his wedding?
BQPortfolio speaks to citizens from across India about their financial goals and helps them access expert advice on how to achieve them.
Like almost everything in life, time is money when it comes to investing. The sooner you start to save and invest, the better. But it’s never too late.
Vikas Pathneja, a 24-year-old resident of Chennai, aims to own a house by 2028. He anticipates that this will cost him between Rs 60 lakh and Rs 1 crore.
For this, he has made a modest beginning. Vikas has invested a little over Rs 50,000 directly into equity and another Rs 34,000 in mutual funds. But he also plans to get married in 2020 for which the 24-year-old might need Rs 7 lakh.
With an annual salary of Rs 4.5 lakh, will it be possible for Vikas to have a house of his own by 2028? On BloombergQuint’s special show, Portfolio, Dhaval Kapadia, portfolio specialist at Morningstar, helps Vikas to plan his finances.