Hi,
I am 24, single and currently working in a MNC for the past one year. My income details are:
Net Salary : 82,000 per month
Restricted stock units: 5,00,000 (to be vested gradually in 4 years of which 1 year has passed)
PF is around 1,50,000 p.a. (including employer’s contribution)
Company takes care of my life insurance and health insurance of myself and my parents. My parents are in a job and are not dependent on me.
I currently have around 2,50,000 in FDs, 70,000 in NSCs and around 50,000 in my savings bank account.
My monthly expenses are around 20,000 to 25,000.
Here is what I am planning to do:
1. Invest 20,000 in FDs every month (What should be there tenure?).
2. Invest 20,000 in NSC/PPF (No idea how much to contribute in each of them individually)
3. Invest 20,000 in Equity. I have tentatively decided on HDFC Balanced Fund (G), ICICI Pru Focused Bluechip Eqty (G) and Birla Sun Life MNC Fund (G). (I need advice on whether my choice is correct and are there any other good MFs that I should invest in. Also what should be the ratio of the investment in these).
Who do you think about my plans. Please advice.