Hi Manish,
Just now finished your book “5 things you should know before investing”
I need some suggestion and also would like to get some direction in my investment planning. although I think I am careful about it but the fruit is always sour.
I am 25 and work for an MNC.
I have 7 MF plans which are all equity based and totally I am investing 15K in them each month. All these are from diverse companies like BirlaSunlife,DSP Black Rock,Reliance and SBI. average they are of 2K each and out of all 4 of them are of DSP coz the consultant who helped me pushed me in going with them. 2×2500/pm of these are for tax saving and rest all are equity based.
Here is a Breakup
| DSP BLR | Top 100 Equity Growth | 2000 |
| DSP BLR | Small & Mid cap Growth | 2000 |
| DSP BLR | Tax saver fund Dividend po | 2500 |
| Birla | Tax relife 96 Dividend po | 2500 |
| Birla | Frontline Equity Growth | 2000 |
| SBI | Emerging Business Fund | 2000 |
| Reliance | Equity Opportunity fund | 2000 |
Even after doing a diversified investment none of them have given me 10-12% since past year infact few are in negative. the maximum i have got is 6%.(I have taken all these in Jan2013)
Apart from these I am running an RD of 5K through my salaried account of Citi which is just going fine.
I also have an ESPP from my office which gives me 15%discount from current marked rate of my companies stocks. Here I am investing maximum which I can .(The maximum I can invest is 15% of my base salary)
I have 1.55lacs in stocks which is running 24% Negative
I also purchase some gold time to time. (This year is got 2x10gm on different occasions). Lastly I am putting 2K in my sarkari SBi account for any unforeseen issues That amount is above 50K now.(liquid Cash)
I know its a big list above and I am really sorry to put this in an email however all of the above I am doing is to make a down payment for an 2BHK APT which i wish to purchase in coming Diwali 2014.
Please can you suggest something to get me on track atleast. Is there something which I have missed which I could have. I am desperately in need to correct my finances to reach my goal.
I would really appreciate your guidance here and also would like to thank you for book which has blown my mind especially the understanding of investing more in initial years.
Thank You Manish!