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:
- I love investing and want to devout more time in researching and start visiting companies I like
- 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:
- Security of a monthly pay check
- Family responsibility (Wife, mother, grandparents, No kids yet - nor planned)
- Slight fear of losing my hard earned money
Here I need some advice from you guys:
- Is this doable?
- Have you/ anybody you know has done this before? What has been your/his/her experience?
- What are the steps to be followed to do this?
- What are the precautions one should take for this?
- Any other advice?
Few things about me (so that you can advice me better)
- Male, 28 yrs, from Pune, B.Tech, MBA (IIM Cal)
- Portfolio: 12 Lacs (5 lacs Equity, 6 lacs bonds, 1 lac cash) No real estate, No family inheritance.
- Savings apart from portfolio: ~8 lacs (FDs) vs monthly expenses of ~50,000 Rs.
- No loans to be repaid
- 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,