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POSTED BY ON October 13, 2012 9:37 pm COMMENTS (12)
Hey Guys !
My name is Garima.
I have just started working and have some extra money just lying in the bank.
Its not much but about 1 lakh.
I read up on this stuff and have invested in the 4 funds:
I am doing SIP everymonth of around 20,000 Rs.
I have spare cash to the tune of Rs 1 lakh to be invested .. how and where should I invest it ?
I am really confused?
should I spread it amongst the above mentioned funds ? or put bulk in one fund ?
Unmarried. No responsibility. No short term goal less than 5 years so not inclined to put it in a debt fund or fd . not even in gold no demat account.
Thanks
Garima
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hmmmm very valid point my friend !!
thankyou pragyan for your gyan:) !
shall work that out
Well, today you may not have a family dependent on you, but suppose in future, when you do have one, the premium costs would have increased a lot + pre-existing diseases could also add up the premium! ๐
*all the ๏ are ๐
oops sorry :)!
@himanshu โ thankyou !
It took a whole lot of jagoinvestor blog to get there ๏
@zionview- hmmm nice idea ! thanks !:)
@pragyan โthanks for showing interest
Since my family does not depend on my income .. I did not bother so much with the insurance .. but you make a good point ! I am a little confused ..what do ypou think are low premiums a good enough a reason to go for life insurance even if my family is not dependent on me ?
And yes ppf and health in place ๏
Inshallah propertyIdiversification may also come with time ๏ !
@suhel desai โ already took care of the emergency fund ๏ !
And yeah have inquired about the auto sweep as well..Well unfortunately I have an account with deutche bank and they ddonโt have the auto sweep !
Nonetheless even if they did I am not sure if I should go for fd as the post tax returns would be very low and I donโt have any short term goal or more requirement for debt !
What do you say ?
@ manish โ thanks !:) much appreciate the response! Infact that does sound like a plan ! since I am not averse to risk at this point for no goal less than 7 years It sounds good ! any suggestion on the liquid fund for the liquid to mid cap plan ?
You can look at HDFC Liquid Fund , Note that liquid fund return variation is too small to even look at, focus more on the target equity fund .
I think given your situation , and being very clear that there is no short term requirement . I would have taken a high risk at this point of time .
Having seen markets at low point and without much great acitvity in last 5 yrs, I would have committed that 1 lac via STP in some good mid cap mutual funds with in next 6 months, May be you can put it in a liquid fund with STP to some good mid cap fund like Sundaram Smile or IDFC Premier (as listed by you) for next 6 months
This is a little aggressive approach , but the risk adjusted return can be really good one ๐
Manish
you can keep some of the amount as emergency fund…probably u can keep it in a liquid fund like HDFC cash mgmnt or escorts liquid where in you can redeem ur amount whever u wish…
besides this there is an auto-sweep facility given by banks where u can specify an amount and when your bank balance crosses that the remaining can get converted to an FD…only diffference being u can get this money anytime back whever u wish without the hassles of a normal FD. guess there is already an article on this on the website
http://www.jagoinvestor.com/2011/03/auto-sweep-bank-account.html
Probably not exactly the right answer to your question but just few learnings that I would have appreciated if I were starting out. Make sure that you have the basics covered :
1. Insure your life if not done already with a good Term plan. As you are just starting out, a good term plan will cost very less.
2. Invest in PPF. This will give you great returns in long term.
3. Getting my VPF deducted to the max came in very handy to me. Depends on how you see it.
4. Own your health insurance if not doing so already to cover for medical costs. (other than the company’s)
5. Invest in residential/commerical establishment which you can rent out and which will pay for your EMI. Start small and then move up the ladder.
Good luck!
@garima
You have a very good set of funds.Do not add any more fund what you have currently has good diversification.
This extra money you have split it among your existing fund equally.
Hi Garima,
Its surprising that being a girl you are very much aware of how to perfectly utilize your funds, I say this based on my experiences of how my female friends always struggle with the same with a Q always on their forehead.
I will surely made my friends to read this post.
Hey Deepak
Since I don’t have any short term goals I don’t of debt as a viable option !
Thanks for the reply anyways !
I also thought the same ๐
Garima
HI garima,
If your outlook is beyond 5 years invest your spare one lakh equally in the funds you are already invested in. I say this because you have said no debt and no gold.