Hi Manish,
you have been doing a great job helping novice investors to direct their hard earned money into proper avenues. Thank you so much.
I am 28 yrs old,married and had a son 8 months ago. I have not invested a single penny till now. I am new to MF investing. I am planning for a 50 lac corpus for my childs education and marriage and an other 1.5 cr for retirement (I would like to work till 60 providing Gods grace is with me).
My current monthly income is about 59K in hand. My household expenses would be around 20-25K. I am planning to buy a plot which I am expecting would eat about 22000/m from my salary. I am planning to invest Rs.2500/m in PPF and Rs.6500/m in MFs. My split would be:
Large Cap: Quantum Long Term Equity Fund (G)- 2000 & ICICI Pru Focussed Blue Chip (G) – 2000
Equity Diversified: ICICI Pru Dynamic Plan (G) – 1500 (My other choices here are SBI Magnum Global Fund, ICICI Pru Discovery, BNP Paribas Midcap)
Balanced: HDFC Balanced – 1000 (My other choices here are HDFC Prudence and ICICI Pru Balanced)
Please comment on my portfolio and I anticipate your valuable suggestions. All the above in terms of SIPs. I am planning to take a term insurance fo 50lac from LIC (Amulaya Jeevan) or ICICI Pru. Would 50lacs be sufficiently. I currently have some 3lacs in cash which I might use for the plot I am planning to buy otherwise I am not sure where to invest also. Please help.
Please direct me in my investment plan so that I can reach my goals in about 20 years. Thanks in advance.