suggest in MF selection

POSTED BY Chetan ON May 1, 2012 12:27 pm ONE COMMENT

HI,
I am a Chetan,
I am 32 yr old. dependant wife , two children, parrents,
I have LIC money back of rs. 100000 amount yrl premium @3500/- started @Aug2004
another Money Plus policy yrl premium 10000/- started @Jully 2007.
Home loan 2135262/- Started march2012. monthly premium 20606/-
my monthly income in hand 43.5k (pretax)
no other asset. want to insvest monthly 8k . in MF, PPF & creat emergency fund(Liquid fund).
proportion is as:
1. PPF- 2000/- PM
2. MF -all as SIP.
a. Equity fund SBI magnum FMCG fund =2k- Pm
b. Balanced fund HDFC/ ESCORT =2k PM
c. SBI liquid fund.= 2k pm
d. SBI dynamic bond=2k pm.
Please suggest whether the above selected MF are ok or need to change.

One reply on this article “suggest in MF selection”

  1. Dear Chetan, first of all please dump those 2 LIC policies & purchase a term cover of at least 1 Crore Rs. for yourself.

    Use the surrender amount from these 2 policies as emergency fund. Try to maintain at least 6m income as emergency fund. Think of investing elsewhere only after creating that emergency fund is in place.

    Thanks

    Ashal

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