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POSTED BY ON May 26, 2013 5:10 pm COMMENTS (4)
Hi,
I am 20 year old and i earn about 2 lakhs per year. As i currently live with my parents, my expenditure is low and thus i am thinking to invest 1 lakh per year…i am looking for 10-15 years of investment (that means 1 lakh * 10/15 = 10/15 lakh total investment)..
I saw PPF which gives me about 30 lakhs after 15 years if i invest 1 lakh to it for the nexy 15 years…thus, 15 lakh interest that i will earn will be tax free…
Any other options which can provide attractive return than ppf?
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You are just 20 years old – which means you can take risk.
Go with Term Insurance + Equity Mutual Fund + PPF
Dear joel, before investing anywhere, please invest your time in reading past queries/discussion here in the forum. you ‘ll surely get the answer for your query.
Thanks
Ashal
if your time frame is 10-15 yrs. , better you limit ppf investment for your tax saving (under80c) and earmark the balance to diversified equity mfs (1 or 2 nos.) selected by going through the discussion in this forum , and with help of sites valueresearchonline.com and morningstar.in .you may use sip/stp for investment in equity mf. of course it has risk ,but may give attractive return at end of 10-15 yrs compared to ppf.
Do you think can save 1 lakh per year for next 10 years?
List your long term goals.
Set an emergency fund worth 2-3 months expenses
If you plan to marry at least 2 years before planned date of marriage buy pure term life insurance with sum assured equal to at least 15-times of your annual income
Get individual mediclaim in addition that provided by employer.
Assuming you do the above asap you can then start investing full fledged.
Start investing in a large cap fund like Franklin India blue Chip. Learn more about MFs and as your income grows you can diversify.
If you want to start a PPF account do so but contribute very little to it unless you want to save tax. As you age you can increase the contribution