My current age is 30 and my current monthly take home salary is 40K per month. and My Wife Age is 29 her Salary 20K Per Month Please review my investment and suggest me is my current investment is okay or I am investing wrong way. After 15 years I want Rs 80 lakh for my daughter higher studies
after next 7 years I want Rs 30 lakh for For Buying Land and after my retirement how can get Rs 2 crore after 60 years of age.
SIP - Rs 10000 / - per month from 2019 till 2040
HDFC Mid Cap Plan- 3000
Paragparikh FlexiCap Plan-2000
Sbi Small Cap Plan-3000
SBI LARG And Mid Cap -2000
Home loan - Rs 7000 per month for 10 years
Sukanya Samriddhi - 2000 Per month from 2019 till 2039
I Also Read To Invest More 5K Sip, Please Give You Advise.
Ans: Financial Review and Recommendations
Current Investment Analysis:
Your investment portfolio reflects a mix of equity mutual funds, Sukanya Samriddhi Yojana (SSY), and a home loan. Here's an analysis of your current investments:
Equity Mutual Funds (SIPs):
HDFC Mid Cap Fund: Rs. 3,000/month
Parag Parikh FlexiCap Fund: Rs. 2,000/month
SBI Small Cap Fund: Rs. 3,000/month
SBI Large and Mid Cap Fund: Rs. 2,000/month
Sukanya Samriddhi Yojana (SSY): Rs. 2,000/month
Home Loan: Rs. 7,000/month for 10 years
Financial Goals:
Daughter's Higher Studies (15 years): Target corpus: Rs. 80 lakhs
Buying Land (7 years): Target corpus: Rs. 30 lakhs
Retirement (After 60 years): Target corpus: Rs. 2 crores
Recommendations:
Review Asset Allocation: Your portfolio is heavily skewed towards equity mutual funds, which are suitable for long-term goals. However, ensure you have a balanced allocation across asset classes to manage risk effectively. Consider diversifying into debt or other low-risk instruments for short-term goals like buying land.
SIP Review:
Evaluate the performance of your existing SIPs and consider diversifying into different fund categories for better risk management.
Since your daughter's higher education goal is 15 years away, continue investing in equity funds but review and adjust the SIP amounts periodically based on fund performance and market conditions.
New SIP Allocation:
Allocate the additional Rs. 5,000/month SIP towards debt mutual funds or Public Provident Fund (PPF) for your short-term goal of buying land. This will provide stability and liquidity for the goal.
For long-term goals like retirement, consider increasing contributions to equity mutual funds gradually over time to benefit from compounding returns.
Emergency Fund: Ensure you have an adequate emergency fund set aside in a liquid and easily accessible instrument to cover unforeseen expenses.
Insurance Coverage: Consider investing in term insurance and health insurance policies to protect your family's financial future against unforeseen events.
Regular Review: Periodically review your investment portfolio's performance and make adjustments as needed to stay on track towards your financial goals.
Professional Advice: Consider consulting with a Certified Financial Planner (CFP) to create a comprehensive financial plan tailored to your specific needs and goals. A CFP can provide personalized recommendations and strategies to optimize your investments and achieve long-term financial security.
By following these recommendations and staying disciplined in your investment approach, you can work towards achieving your financial goals effectively.
Best Regards,
K. Ramalingam, MBA, CFP,
Chief Financial Planner,
www.holisticinvestment.in