Clear debts and secure insurance before investing, financial expert advises

Financial planning expert Harsh Roongta has underscored the critical importance of debt management and insurance coverage as prerequisites to investment activity, particularly for early-career professionals seeking to build wealth.

Addressing participants at Business Standard's Smart Investor Arena 2026, Roongta highlighted that investors should first eliminate outstanding loans and establish adequate insurance protection before allocating capital to market-linked instruments.

Roongta's guidance reflects a structured approach to personal finance, prioritizing financial stability over aggressive wealth accumulation. He argued that cultivating disciplined savings habits early in one's professional journey yields greater long-term benefits than attempting to maximize short-term investment returns without adequate financial safeguards.

The financial advisor's recommendations align with conventional wealth management principles that advocate for building an emergency fund, clearing high-interest debt, and securing appropriate life and health insurance coverage before pursuing equity or other investment opportunities.

As Indian households increasingly turn to market-based investments for wealth creation, such foundational financial planning advice has become more relevant for both young professionals and seasoned investors navigating India's evolving investment landscape.