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POSTED BY ON December 23, 2012 12:25 am ONE COMMENT
Recently I closed one of the Equity shceme due to some personal reasons and left with10 Lak surplus amount. I would like to invest this amount for long term for my kids. Please advise me what avenues/options I should look at.
Thank in advance!!
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If long term is about 10 year aways you can park a portion of the money say about 30% in tax-free bonds with cumulative option (some have buy-back option after 5 years too). This can be a tax efficient debt component.
You can park rest of the money in a liquid fund and start a systematic transfer plan to about 2 mutual funds: one balanced fund, and one large-& mid-cap fund.
The funds can be transferred each month or even more frequently if possible., The entire transfer can be done in about 6 months time.
As your goal approaches you can systematically withdraw from the equity funds back to the liquid fund or push into a FD.