[18F] Advice or suggestions needed

​

Hi folks. I really need some honest financial advice.

A little background: I'm an 18yr old F from a Tier-2 city in India. My father was a government school teacher and retired a few years ago. He was an extremely honest employee who even gave free tuition to children in rural areas. My mom is a homemaker.

Before retirement, my dad earned a veryy good salary.

Now he receives a pension of around ₹45–50k per month.

The thing is, my dad got married quite late. I have an elder sister who is studying at a good government college, and I'll most likely be joining the same college this year. Thankfully, there won't be much of a tuition fee burden.

Growing up, my sister and I studied at one of the best private schools in our city. My parents never made us feel deprived of anything. They rarely said "no" to our needs, encouraged us to pursue whatever we wanted, and we even went on family trips almost every month. We also attended drawing, dancing, painting, and singing classes sometimes all at the same time. We genuinely had a wonderful childhood, and I'm incredibly grateful for everything they did for us.

Now comes the main issue.

Despite earning well throughout his career, my dad has almost no personal savings, no investments, and NO roperty in his name.

Early in his career, he bought some land using his own earnings, but he registered everything in his mother's name. Later, she transferred all those properties to my dad's younger brother. Today, my uncle is worth crores, but that's in the past now and there's nothing I can do about it.

After retirement, my dad received his govt retirement benefits. My mom, despite being only a B.A. graduate, has always been very financially sensible. She invested most of it in a bank deposit, which will mature to around ₹24 lakhs next year. AND THAT IS THE ONLY SAVING WE HAVE along with few more lakhs.

And also I'm concerned abt me and my futures future too.

I'd much rather see that money invested wisely so it can grow and help secure our future.

I also plan to pursue an MBA in a few years, and I'll likely need financial support for higher education.

So my question is:

If you were in my family's position, how would you invest ₹24 lakhs? What would be the smartest long-term strategy? Should we keep it invested, diversify it, or what?

I'd really appreciate genuine advice, especially from people with experience in personal finance.

Thank you