POSTED BY June 22, 2012 8:31 am COMMENTS (5)ON
HI Manish/Forum Members,
Need Advice on MF selection.
I am in my early 30s with no liabilities (home loan, etc.). I am married and have 3 yrs old kid.
My total savings are 10L in FD and 2L in gold with 2-3 lakhs (combined/total) in PPF, PF, and EPF.
I have not been exposed to equity but would like to start with Mutual Funds.
For now, I could invest 45K pm for next six months, and after that 15K pm for next 14.5 years. Below are the funds I have shortlisted –
1) HDFC prudence – 15 K ( for 6 months) and then 5 k for 14.5 years
2) Fidelity Equity Fund – 15 K ( for 6 months) and then 5 k for 14.5 years
3) SBI Magnum Emerging Businesses Fund 15 K ( for 6 months) and then 5 k for 14.5 years.
My goals are –
1) 5L in 2 years from now (foriegn trip)
2) 10L in 3 years from now (car)
3) 75L in 15 years from now (child education)
4) 75L in 22 years from now (child marriage)
Pls. advice if I could reach my target with the above strategy/approach.
Also, to add
A) I am not planning to invest any more in FD but PF, EPF, etc. would continue.
B) For retirement, I have retirement home, and some ancestoral property worth 60 L (today’s price) with some rental income starting in year 2022 equivalent to 18k pm in todays term/value. Plus PF, Gratuity, and EPF
Your inputs would be highly appreciated.
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