I am 31 year old officer working for Indian government, earn 60,000 per month. I have read about mutual funds and want to start investing through monthly SIP. I have just started with an aggressive hybrid fund – Canara Robeco Equity Hybrid (SIP of .) 2,000 per month, with plans to continue this for five years). I aim to invest around 25% of my salary. Please suggest whether the approach is right and if so, the MF schemes which would be suitable for me to invest in. i already have an outgo 12,000 per month in PPF and NPS.
—Name withheld on request
It is good that you are planning to invest a healthy percentage of your monthly income in SIPs. Please ensure that you can maintain this level of investment on an ongoing basis. In terms of where to invest, equity hybrid funds are a good place to start, especially since you are investing for five years. for the remainder 13,000, you can continue along the same lines for the equity-debt ratio.
I am a 40 year old man with a monthly salary of 70,000. I have two daughters aged 7 and 2. Please suggest some of the best mutual funds for investment for education and marriage and SIP.
Surender
Let’s take your elder daughter and assume you have 10 more years to save and invest for her education. If we further assume that the cost of education 10 lakhs in today’s money, you will need to save and invest 9,000 per month to reach this target in 10 years. For your younger daughter’s education, you will need to save and invest likewise 6,000 per month (given that he has 15 more years for higher education). So, Are You Doing A SIP For You? 15,000 for the education goals of your two daughters, put together.
In the case of investments, you can split 12,000 equally between HDFC Index Fund, Parag Parikh Flexi-Cap Fund and Axis Midcap Fund, and invest the balance 3,000 in IDFC Corporate Bond Fund.
Shrikant Meenakshi is the founder of Primeinvestor.in.
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