Hi Manish, hope u r doing fine. First of all thank you for making me to take the initiative to post here. I have just started my career last year and never had any initial plan for investment. My brother made me read your book ’Jago Investor’ so that I don’t repeat the mistakes he had done i.e Late Investment. Eventually I went through your book and got some good ideas about personal finance.
So as the new financial year started I decided to look for some investment option. I went to the ICICI bank to talk about various options available. But I didn’t got through it as they were mainly trying to convince me pick up a particular ULIP Plan(although they didnt mentioned it earlier that its a ULIP Plan). I DONT want to initially invest in somewhere where they combine insurance along with some maturity benefit. So whatever information I have by reading your book, various blogs, talking to people I am thinking of diversifying my money on Debt, Insurance, Mutual fund and bonds.
For debt I am planning to go for PPF, FD etc, for Insurance I will pickup 2-3 term Plans(50-75LPA each). The thing which is keeping me in a dilemma is selecting the right Mutual Fund(I am thinking for SIP). So can you enlighten me regarding the points I should keep in mind to select a MF and specify few MFs which are performing well for last 5-10 years. Also what are your views for ULIP at this point of time?