By making wise investments, you can get passive income without having to work constantly. You can also think about mutual funds, particularly dividend-paying ones.

It’s preferable to limit your gold holdings to 5–10% of your total investments, but gold is a terrific way to provide stability and safety to your portfolio, especially in unpredictable times. Gold typically doesn’t equal the long-term returns of stocks, despite its steady growth.

How much you need to save for retirement, and the exact amount of money, will depend on your lifestyle patterns, spending patterns, and expected future needs. But just to give you a rough idea here are some general guidelines:

Put away at least 15% of your annual salary for retirement, on top of any contributions made by the firm.

Remember the 30X rule: Try to accumulate a retirement fund that is 30 times your annual expenses in order to guarantee a pleasant retirement.

Salary-based Calculation: To meet expenses after retiring, your retirement assets should be at least six to eight times your annual salary by the time you are in your early 60s.

Investing in initial public offerings (IPOs) may seem like an exciting opportunity to you, but there are risks involved as well. So Avoid making IPO investments solely out of excitement or because your friends are doing it out of hype, since not all freshly listed companies retain their initial valuation.