POSTED BY September 25, 2014 7:36 pm COMMENTS (4)ON
My personal details:
My age: 31 years
My sister: 25 years, currently studying
Martial status of both: Not married
My income – 60,000 Rs
Expenses – 20,000 Rs per month
Am planning to start an investment for three things mainly, one for retirement and another for house purchase (flat probably) and marriage expenses.
Investment as follows (as suggested by my financial advisor), but need 2nd opinion:
Mutual fund (long term – 5-7 years or more):
1) Franklin India Bluechip fund
2) ICICI Prudential Dynamic fund
Debt fund (short term – 3-5 years):
1) HDFC Prudence fund
2) ICICI Prudential balanced fund (Equity 10% and Debt 90%)
Am planning to invest 10,000 Rs every month, that is, for Mutual fund 5,000 Rs and debt fund 5,000 Rs, and planning to top-up the price on every financial year, by 10-20%. I want to know if:
1) These suggested investment for mutual fund and debt are good? How is their performance?
2) These amount are sufficient for the above mentioned mutual and debt fund as a beginner?
3) This plan for retirement, house purchase and marriage expenses, a better option as an investment?
4) Is increasing the investment every year, is a good idea?
Will be very helpful to get an reply. Thank you for taking time and going though the above.