I am 38 yrs old and my eldest child is a daughter(US citizen) who is just 2 yrs old. I want to make some investment for my daughter’s education (plans are to educate her in US) as well as my retirement.
What are the best possible investment solutions to create the necessary education funds for my child, given the fact that I have only 17 yrs as term of investment and hardly 20 yrs of active salary earning? Since time is les, I need to accumulate and grow the investment so that it is sufficient for her education and my retirement.
I currently have my own PPF account which is not significantly loaded with funds(due to my own mistakes by not putting adequate money in PPF inspite of having it). I also have some 7 or 8 mutual funds comprising of equity, one balanced and one gold fund. What I need from the team here is a mix of good quality Balanced and Debt / Income funds for long term(3-7 yrs). I dont strive for 40% annual returns per year but do need some 12-16% returns per year consistently.
Please advice what is the best possible mix of investment strategy I should go for.