This is my first post in the forum, so please pardon me for if I have put this in the wrong category or if it is already being discussed do route me on the right path, as I’m still exploring this platform.
I’m 31 and I have been Investing in stocks and mutual funds for almost 4-5 years. Recently, based on the too much overlap of funds that I had purchased being a novice years back then, redeemed few of the funds for the same and also due to non performance.
I’m now thinking to invest via Systematic Equity Plan in various stocks and looking for stocks who could be great candidate to be a part of the portfolio down the line. One of the stock I have identified is ITC, as it has been in index since inception and its great business and the moat it commands for its supply chain and backward Integration with top class management, however I’m still skeptical on what else to add , after researching to build Conviction with others per se. I would like you to throw open some of the stocks where if anyone is doing SIP in other stocks. My horizon is not short at all, I’m looking for atleast 9-10 years where dividend income is enough to manage my expenses apart from my regular salary. Hence asset allocation become one of the very important criteria and hence I’m focusing across sector max 5-10 stocks in my portfolio for this duration.
If anyone is already been doing this for a while say 4-5 years I would like to listen to your views, pros and cons. I’m also working on setting up my passive stream which will take say atleast 5-7 years to get traction too. I’m okay with it. The goal is to make my active income passive and passive more active and then eventually do what I am passionate about with ample time in hand. I may be too optimistic but I like it to be that way.
Pardon my ignorance and also typos for I’m writing it on my mobile. But I really would like to know about experience, ideas and suggestions to eventually build enough Conviction, which cannot be borrowed.
Stay safe guys, cheers!