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Omkeshwar

Omkeshwar Singh  | Answer  |Ask -

Head, Rank MF - Answered on Aug 09, 2022

Mutual Fund Expert... more
Ganesh Question by Ganesh on Aug 09, 2022Hindi
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I am 42. I have started investment in below funds one year ago. My salary is Rs 43,000 per month.

  • Axis blue chip - sip Rs 1000, total investment Rs 70000 as I invested lump sum also
  • Axis long term equity - Rs 2000, total investment Rs.12009
  • Axis growth opportunities - Lump sum Rs 49000
  • Canara Robeco - Rs.30,000
  • Parag Parekh flexi cap - Rs.10000
  • Kotak Balanced Advantage - Rs 30000

I have 10 year old son, single child.

Goals:

Son’s education - need 10 lakh after 7 years

Retirement - need 1 crore after 15 years

Ans: Please break the above details in SIP and lump sums for me to advise properly.

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Ramalingam

Ramalingam Kalirajan  |637 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on Apr 05, 2024

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My Goal is to have 75 Lakh after 12 years for my Child Education and so for that i have started to invest.Mirae Assetlarge Cap Fund-Regular Growth Fund-5000 Per month Nippon India Growth Fund Growth plan Growth option 2500 per month SBI Small Cap Fund Regular Growth-2500 per month HDFC Flexi Cap Fund -Regular Plan growth-5000 Per month
Ans: Your investment strategy seems well-diversified across different types of mutual funds, which is a good approach to achieve your financial goal of accumulating 75 lakh for your child's education in 12 years. Here are some key points to consider:

Diversification: You have invested in large-cap, mid-cap, small-cap, and flexi-cap funds, providing diversification across different market capitalizations. This can help mitigate risk and capture growth opportunities across various segments of the market.

Consistency: Consistently investing monthly amounts in SIPs demonstrates discipline and commitment towards achieving your goal. It's essential to maintain this disciplined approach over the long term.

Review and Monitor: Periodically review the performance of your funds and ensure they are aligned with your investment objectives. Monitor changes in market conditions and make adjustments to your portfolio if necessary.

Risk Management: Small and mid-cap funds tend to be more volatile compared to large-cap funds. Ensure you are comfortable with the risk associated with these investments and have a long-term investment horizon to ride out market fluctuations.

Regular Contributions: Consider increasing your monthly SIP contributions over time, especially if your income allows for it. This can accelerate the growth of your investment and help you reach your goal faster.

Seek Professional Advice: If you're uncertain about your investment strategy or need personalized guidance, consider consulting with a financial advisor who can provide tailored recommendations based on your specific financial situation and goals.

Overall, your investment strategy appears to be on track towards achieving your goal of accumulating 75 lakh for your child's education in 12 years. Continue to stay disciplined, monitor your investments, and make adjustments as needed to stay on course.
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hi sir : my son doing job since two year monthly earning is 60 K. but his saving is nil. pl. advice where to invest
Ans: It's great that your son has started earning, and it's essential to guide him on saving and investing for the future. Here's a step-by-step investment plan tailored for him:

Emergency Fund: Start by building an emergency fund equivalent to 3-6 months of expenses. This fund should be easily accessible, like a savings account or a liquid fund.
Debt Repayment: If he has any high-interest debts like credit card bills or personal loans, it's wise to clear those first to avoid paying hefty interest.
Investment Options:
Equity Mutual Funds: For long-term wealth creation, he can start SIPs in diversified equity funds. A mix of large-cap, mid-cap, and multi-cap funds can provide growth.
PPF (Public Provident Fund): A tax-efficient and safe option for long-term savings with a lock-in period of 15 years.
NPS (National Pension System): A retirement-focused investment with tax benefits, offering a mix of equity, corporate bonds, and government securities.
Term Insurance: Since he's working, consider getting a term insurance plan to ensure financial security for his dependents.
Health Insurance: A comprehensive health insurance plan to cover medical emergencies can provide financial security and tax benefits.
Budgeting and Savings: Encourage him to create a monthly budget to track expenses and identify areas to save. Automating investments through SIPs can also help in disciplined saving.
Financial Education: Educate him about the importance of financial planning, saving, and investing. Encourage him to read books or attend workshops on personal finance.
Starting early with disciplined saving and investing can help him build a substantial corpus over time. Encourage him to consult a financial advisor for personalized guidance tailored to his financial goals and risk tolerance.
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DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Investment in securities market are subject to market risks. Read all the related document carefully before investing. The securities quoted are for illustration only and are not recommendatory. Users are advised to pursue the information provided by the rediffGURU only as a source of information and as a point of reference and to rely on their own judgement when making a decision. RediffGURUS is an intermediary as per India's Information Technology Act.

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