allocate at least 10 percent of the money to a contingency fund which is available at short notice says pant remember that since it is an emergency fund returns are not important look at investment options that are liquid stay away from these wealth advisors are unanimous when it comes to taking too much risk dont take the road less travelled that means no cryptocurrencies alternative assets like wine and art and real estate simplicity is a better way to achieve wealth creation and one should stick to things they understand due to herd mentality lot of investors get into trap of exotic products which they dont understand stick to something simple like equities where one can compound over a long period of time and is based on fundamentals says biranivikas gupta ceo and chief investment strategist omniscience capital an investment management firm says that you should keep about 7080 percent of the amount in traditional assets dont get ideas like angel investing hedge funds because these come with extremely high risks yes since many of them will be young people they should invest in high risk products but invest in conventional products like equity keep it simple he says he adds that one should stay away from real estate as an investment unless you are buying it for your own consumption and is your first house real estate investment is tricky not only does it require a lot of expertise it is expensive and exit is difficult explains guptaspend smartly we are not saying that all the money should be tucked away into savings and investments it is not often that the everyday salaried person comes across a windfall gain like this set aside the required amount money you have invest and save and spend the rest were you planning on buying a car or going on a nice holiday use some of the money to fund these discretionary money goals and dreams what about using it to pay off some of your loans gupta says that it depends on the cost of the loan that you are servicing if the interest rate is high like that of a personal loan then pay it off if you have a secure job then you should not think about paying of large liabilities like a home loan you are young and should put the money to better use says gupta