Advice on my First Investment Plan
Salam everyone, Alhamdulillah I’ve just started working and want to consistently invest money from each pay check to build long term wealth. I’m not here to ask for financial advice, more just if there’s any obvious holes/issues with my plan as this is my first time doing this.
My paycheck currently is £3200 per month after tax and pension contributions.
Of this my aim is to save £1000 per month into the following:
£500 into an easy access halal cash ISA to build up an emergency fund, I have already saved a good amount into this with my first few paychecks alhamdulillah
£350 into halal ETFs for long term capital appreciation. I have currently split this into 32% SPWI, 25% HIUS, 15% HIES, 15% HIWS, 13% HIEU
£75 into HSBC Sukuk ETF HBKS
£50 into halal real estate company stocks I have found through real estate ETFs available in the US
£25 into gold
£25 into a stock of my choice when I have time to do research, otherwise can put this into my other investments.
As I progress in my career inshaalah my plan would be to invest more but in a similar split. I may also allocate more to investments and less to emergency fund later once it is built up enough inshaalah.
Am also aware that it is quite a lot of ETFs to be investing in and lots of them will have overlap but I personally don’t see a problem in this, if I’m really wrong about this would appreciate the insight. Jazakum Allah kheir