Me and wife are working. I do my savings from my salary by investing in following
1. 5000 per month in 3 ELSS Funds
2. term policy from lic
3. 2000 per month in diversified equity fund
4. 2000 per month in reliance gold fund
5. 3000 per month icici pernsion plan for parents
I am confused about how much should be in MFs and how much in fixed return investment for savings from my wife salary . we have about 25k per month to invest.
I have to plan for following goals
1. Child higher education(his one year old)
2. Our home (should be as soon as possible may be in next 3 yrs and already own a flat which can contrinute to about 50% to new home)
3. Our retirement (we both work in private firms)