How to multiply your income, savings & investments?

POSTED BY Vijay Popat ON June 3, 2012 11:04 pm COMMENTS (3)

I know there is no magic wand to double your savings or investments in one night. But please advise as in what are the best options available in Indian market to maximize your income.

I have two major goals that I want to achieve with minimum help of any type of loan., as follows:-

1) Have to conduct my sisters marriage in a decent manner.

2) Have to buy a 2000 sq ft flat in kolkata with a decent facilities.

Thus with above goals its cleared that I would require a good lump sum in near future, thus kindly suggest me where to invest my monthly 35000 surplus.

Right now I have invested in 8 MF of different sectors in sip with 18000/PM, 10000/PM in RD, planning around 5000/PM in PPF.

Kindly suggest is this the best option , or should i look for more risky ventures like shares, commodities etc, for faster growth of capital.

Also advice on how to maximize your income from your own investments & savings.

3 replies on this article “How to multiply your income, savings & investments?”

  1. Kapil says:

    As Ashal suggested, a goal should always have a target amount and date/month (timeframe).

  2. Dear Vijay, can you quantify your each goal say 5L or 10L or 50L for sister’s marriage & similarly for house purchase & also the time frame for each goal?

    Thanks

    Ashal

  3. BanyanFA says:

    Vijay,
    As I replied back to you in your earlier query, there are just 4 types of asset classes. If you want to buy a flat in future, why don’t you book one now, and take a home loan. By the time you would be able to buy it in future, its prices would increase ! Considering your healthy cash flows, you would be able to sustain a home loan easily – I may be making risky assumptions as I am not aware of your complete financial background.

    Shares – you already are taking exposure of them via mutual funds. Better avoid them directly unless you are good in analysing them and have time to track them regularly.
    For commodities, take exposure of Gold via Gold SIP. Don’t go for direct commodity investments as they can be very volatile in short run.

    Regards
    BanyanFA

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