Dear Fellow Investors,
For many months, I have been thinking of quitting my job in the next 12 months and take up equity investing full time.
My reasons for the same are:
1. I love investing and want to devout more time in researching and start visiting companies I like
2. I believe there is money to be made in Indian equities and, if I put in the right effort, I can find good opportunities for the same
On the other hand, following things are holding me back from taking the plunge:
1. Security of a monthly pay check
2. Family responsibility (Wife, mother, grandparents, No kids yet - nor planned)
3. Slight fear of losing my hard earned money
Here I need some advice from you guys:
1. Is this doable?
2. Have you/ anybody you know has done this before? What has been your/his/her experience?
3. What are the steps to be followed to do this?
4. What are the precautions one should take for this?
5. Any other advice?
Few things about me (so that you can advice me better)
1. Male, 28 yrs, from Pune, B.Tech, MBA (IIM Cal)
2. Portfolio: 12 Lacs (5 lacs Equity, 6 lacs bonds, 1 lac cash) No real estate, No family inheritance.
3. Savings apart from portfolio: ~8 lacs (FDs) vs monthly expenses of ~50,000 Rs.
4. No loans to be repaid
5. Relevant Books read so far: Intelligent Investor, Security Analysis (80%), Investing in India, Breakout Nations, Indianomix, Portfolio book of great Indian Businesses, Havells.
Would be very grateful if you can share some thoughts.
Humbly & Sincerely,