HIGH-risk investors are how most financial planners will describe 30 and under 30-year-olds
HIGH-risk investors are how most financial planners will describe 30 and under 30-year-olds who want to play the money game.
"It's better to start early as possible," says Veer Sardesai, chief executive, Sardesai Finance, a Pune-based financial planning firm.
Sardesai suggests equity investments to compound and create wealth in the long-term and public provident funds as a safety nest and a health insurance plan in case the individual isn't covered by the company where he is employed. 
"Investments can be made through mutual funds or one can directly take risksu00a0 by investing in equity index funds that invest in stocks listed with BSE or NIFTY," adds Sardesai.
It's also important to pay off all your loans before you set out to manage the rest of your finances, suggest experts.
One of the big don'ts in financial planning is over diversifying the number of assets. "For example don't invest in gold so early on.
I don't mean that gold is a bad asset but it's just that it doesn't fit the age profile of 30 or under 30," explains Surya Bhatia, principal consultant, Asset Managers, a Mumbai-based wealth management company.
The age group between 25-30 can afford to play aggressively,u00a0 and look at long-term plans that mature in 10-15 years.
"One should also invest in an insurance which could be 7-8 years of the investor's gross income, liquidity for scrunch needs by means of an open fixed deposit or a monthly investment plan and if the investor's employer doesn't offer a pension policy then an NPF (National Pension Fund) the idea should be to create a basket of investments," says Bhatia.
The formula's based on simple logic really: take risks, but create a solid foundation first and then build on your assets.
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