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Spendthrift To Serious Investor

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Spendthrift To Serious Investor
Shreeya Majithia, 26 Service, Mumbai
Vishav - 20 October 2019

Shreeya Majithia, 26, started working in the advertising industry at a young age. Her salary at that point just happened to be an extra allowance, used for “very important things” like shopping  and so on.

At 23, she had already been earning for almost three years and was planning a short vacation with her friends when she realised she lacked enough money.

This is when she realised the seriousness of the situation. Her dreams of buying a car by the time she turns 25, or vacations every so often looked close to impossible. Majithia then met with a financial planner in December, 2016 who made her realise that big or small, financial goals needed planning.

She divided her salary in two equal halves, one was for her monthly survival and the other for saving. She identified two types of funds that met her requirements. The first was an on-going fund, funded as soon as she got her salary and to which she did not have access, meant for her long-term goals. The other was for her short-term goals such as vacations.

“But after some time, I realised that the funds that could be liquidated did not really give me the desired returns even after a year. So I broke down the amount and started investing in three different funds, which were more likely to give better results,” Majithia said. As the saving cluster started increasing, she started investing in stock markets and IPOs.

She has already saved enough to buy herself a car and plans to gift herself one on her next birthday. Now she wants to have enough money for making a down payment on her first real estate investment by 30.

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