Build A Financial Foundation For Life

Financial planning in your 30s is a foundational pillar for the rest of your life. On this episode of A Niche Thing with Aneesh Bhasin , Anupam Gupta gives us financial tips and tells us things he wishes he’d known about in his 30s. Anupam Gupta is a Chartered Accountant who has previously worked as a Research Analyst and Consultant. He is the Author of the book 'The Wisest Owl' and Host of the 'Paisa Vaisa' podcast.?

Your 30s are crucial to making decisions about the various financial tools available. You can do things in your 30s that you can't do in your 40s and 50s. When it comes to financial planning, having an emergency corpus—essential expenditure multiplied by six months, health insurance, and life insurance should be sorted out first. Additionally, it is necessary to understand basic financial tools like stock markets and mutual funds.?

When it comes to your career, try making a profession out of something you love. Pursuing careers where your income is not predictable, like teaching, travel, and photography is worth exploring in your 30s. Your risk-taking appetite drastically changes depending on your age. This is a crucial time to set goals and work backward from there. Know what you want to do at 40 and 50.?

Beyond career, it's a good time to figure out other life decisions like whether or not you want to buy a house or have kids and start a family. While buying a home may not be the best investment option, the emotional aspect of wanting it cannot be ignored.?

Most people are susceptible to splurging and making grand lifestyle decisions in their 30s. But this is a great time to save.

And when you invest, make sure you understand how that financial instrument works. Sound investments regulated by the market that are easy to liquidate should be chosen over fads. Set up a good strategy and figure out your margins of equity and debt.?

This episode will give you a skeletal road map of how you can live your best financial life by inculcating financial discipline, making investments, being aware of markets, and learning along the way.