'I’m 24 with crores in bank – should I invest in cryptos or stay safe With FDs'

I am a 24-year-old student from an upper-middle-class family. My mother is over 50, and my father is over 80. They are not well-versed in financial matters such as cryptocurrencies, stock markets, or trading. Our family holds approximately Rs 6 crore in cash, most of which is kept in the bank. Recently, I invested Rs 50 lakhs from my account into the SBI Multi Cap Fund.

I have a few questions and would appreciate your guidance:

Do you have any general advice for me moving forward?

Could you suggest specific financial sectors I should focus my studies on?

Is it advisable to withdraw any money to invest in cryptocurrencies, the stock market, or other investment opportunities?

Advice by Akhil Rathi, Head – Financial Advisory at 1 Finance.

It’s encouraging to see someone your age taking such a proactive interest in financial planning. Given your father’s age, your first priority should be safeguarding your family’s financial needs, particularly for retirement and healthcare. For your parents, capital protection and liquidity are key. Instruments like bank fixed deposits with sweep-in options, the Senior Citizen Savings Scheme (SCSS), and short-duration debt funds offer both stability and access. Avoid high-risk or volatile assets when managing their funds—your role here is to ensure financial safety and peace of mind.

Before committing to any specific financial products, focus on building a strong foundation in personal finance. A broad understanding will help you make informed decisions for both your family’s needs and your own future. You don’t need to be a finance professional to start—books like Rich Dad Poor Dad by Robert Kiyosaki, The Psychology of Money by Morgan Housel, and The Intelligent Investor by Benjamin Graham are excellent starting points. These resources will help shape your mindset and financial discipline, which are even more important than technical skills at this stage.

When you’re ready to invest, start small and focus on learning through experience. Understand every financial product before you invest: know where your money is going, the associated risks and costs, the expected time horizon, and how it fits into your overall asset allocation. Begin with a modest allocation of 1–2% of your investable funds to gain hands-on experience. Observing how markets behave over a full cycle will teach you more than theory alone, and you can scale up as your confidence and knowledge grow.

Most importantly, your investment decisions should be personal and aligned with your goals, not influenced by trends or peer pressure. What works for others may not suit your objectives or risk appetite. You’re in a strong position: you’re young, have time on your side, and access to meaningful capital. Use this advantage wisely by focusing on security, steady learning, and a disciplined, phased approach. This will enable you to build durable, long-term wealth for yourself and your family.