As I said, other people may have different ideas. I hope that at least one thing I said was useful.I'm gonna disagree with "direct investment in houses or other income-producing property can work out well too. " I've been a landlord and it was miserable. It CAN work out or it CAN be a disaster. If you are counting on the $1000 a month income from a rental as part of your cash flow, and you get a tenant that decides to stop paying, you can be out over $5000 before you can get rid of them. That's $5K you will NEVER get back. And that is not counting any damage they decide to do on the way out. So if you can afford this risk, go for it.
Thank you for your input. I noted that the OP was in India, and I wondered whether REITs existed in India.Given that the original poster only just started working and wants to learn how to manage and save money I highly doubt that real estate investment is on their radar right now. It may be a good plan for someone with money experience, time and energy to invest, but the OP is new to the workforce and can't even budget.