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POSTED BY ON May 9, 2013 2:44 pm COMMENTS (2)
I want to create a wealth of min 25L rupees in 15 years for my daughter`s higher eduction. And also 15L rupees in 20 years for her marriage. Please advise how much and where I should invest to create this corpus? Please advise.
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Dear Rajesh, if the rate of return is 12% yly, you need to invest 5k Rs. for education goal & 3K Rs. for marriage goal on mly basis. so total mly investment ‘ll be 8k Rs.
If you are going to opt a combination of Pf + Eq. MFs, the mly commitment ‘ll increase as you ‘l be earning less return on your PPF part.
Please update us with your views.
thanks
Ashal
Use this calculator to find out for yourself:
http://freefincal.wordpress.com/comprehensive-child-planner/
As for investment:
education;
equity MFs about 50% of what you can invest and rest in debt MF
marriage:
60% in equity MFs and rest in debt
Use income funds such as Templeton India Income for Debt.
A PPF can be used for education if you have a clear 15 financial years bet now and graduation. For marriage: yes you can opt for PPF definitely.
Equity MFs
large cap fund like Franklin india Blue Chip
Lare and Midcap fund ike Quantum long term Equity
small and midcap like ICIC Pru discovery
among several others.
Above site has a setp by step guide to choosing MF which could also be used.