Home > Money > Question
Need Expert Advice?Our Gurus Can Help
Omkeshwar

Omkeshwar Singh  | Answer  |Ask -

Head, Rank MF - Answered on Nov 18, 2022

Mutual Fund Expert... more
Rahul Question by Rahul on Nov 18, 2022Hindi
Listen
Money

I am 48 years working professional and till now only invested in EPF & NPS. Considering that, I will be at least working for 10 years, now I am considering to invest in mutual funds for my retirement life. My immediate commitments (like children education / marriage / health, etc., during 10 years of working life ) towards family has been taken care of with provisions.

My take home salary after home loan & other deductions is about 60 k and can spare about 20 - 25 k per month for investment. Please guide me about mutual fund / SIP investment and particularly which ones to invest based on my profile.

Ans: A few schemes that you can consider are:

UTI Flexi Cap Fund – Growth

Axis ESG Equity Fund – Growth

HDFC Index Fund – Sensex Plan – Growth

Samco Flexi cap Fund - Growth

DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Users are advised to pursue the information provided by the rediffGURU only as a source of information to be as a point of reference and to rely on their own judgement when making a decision.
Money

You may like to see similar questions and answers below

Hardik

Hardik Parikh  |106 Answers  |Ask -

Tax, Mutual Fund Expert - Answered on May 11, 2023

Listen
Money
Hello Hardik Ji, I am 52 year with a monthly income of around 75K-80K. I want to start the MUTUAL FUNDS / SIP investments for my retirement & my children Future who are in their twenties. Right now I am putting regular money in BANKS RD's / FD's only. Kindly advise / suggest how can i go ahead. Thanks & Regards, RV
Ans: Hello Rahul Ji,

I appreciate that you are thinking about your retirement and your children's future. As a financial advisor, I would be happy to help you start investing in mutual funds and SIPs. Before diving into specific suggestions, let's first understand your financial goals and risk appetite.

Given your age and monthly income, you should aim to diversify your investments for long-term wealth creation and financial stability. While RDs and FDs offer low risk and guaranteed returns, they may not be sufficient for higher returns and beating inflation in the long run. Mutual funds and SIPs can help you achieve better returns, provided you make well-informed decisions and stay invested for a long period.

Here are some steps to help you get started:

Define your goals: Identify the specific financial goals you want to achieve through your investments, such as your retirement corpus and your children's higher education or marriage expenses.
Assess your risk appetite: Determine your willingness and ability to take risks in your investments. As you have been investing in FDs and RDs, it seems that you prefer low-risk options. However, considering your age and goals, you may want to include some moderate to high-risk investments in your portfolio for better returns.
Diversify your portfolio: Invest in a mix of equity, debt, and hybrid mutual funds to spread the risk and optimize returns. You can consider investing in large-cap, mid-cap, and small-cap funds, balanced funds, and debt funds based on your risk appetite and goals.
Start with SIPs: Systematic Investment Plans (SIPs) allow you to invest a fixed amount regularly in a mutual fund, which helps in inculcating a disciplined savings habit and averaging out market volatility.
Consult a financial advisor: For personalized advice, you may want to consult a professional financial advisor who can help you select the right funds and create a tailored investment plan based on your goals, risk appetite, and investment horizon.
Remember, mutual fund investments are subject to market risks, and it's essential to stay informed and monitor your investments periodically. I hope this helps you get started on your journey to financial planning for your retirement and children's future.

Wishing you all the best, Rahul Ji!

Warm Regards,
Hardik
(more)
Latest Questions
Samraat

Samraat Jadhav  |1579 Answers  |Ask -

Stock Market Expert - Answered on Mar 29, 2024

Moneywize

Moneywize   |82 Answers  |Ask -

Financial Planner - Answered on Mar 28, 2024

Asked by Anonymous - Mar 21, 2024Hindi
Listen
Money
What is comprehensive auto insurance policy? What are its benefits? What are the inclusions and non-inclusions if I want to know before buying a comprehensive auto insurance policy?
Ans: A comprehensive auto insurance policy in India offers the most extensive coverage for your car and any third-parties involved in an accident. It's like a two-wheeler for your car's security, providing protection for both your vehicle and your wallet.

Benefits of a Comprehensive Policy:

1. Peace of mind: Covers a wide range of situations, so you'll be financially protected in case of many unforeseen events.

2. Own Damage Cover: Pays for repairs or replacement of your car if it's damaged in an accident, by fire, theft, natural calamities, riots, or even falls victim to vandalism.

3. Third-Party Liability Cover: Takes care of any legal or financial liabilities you incur if your car causes injury, disability or death to a third party, or damages their property.

4. Personal Accident Cover (Optional): Provides financial assistance to you or your family in case of injury or death due to a car accident (depending on the policy terms).

What to Consider Before Buying:

Inclusions:

a. Most accidents (collision, hit and run)

b. Theft (partial or complete)

c. Fire damage

d. Natural disasters (floods, earthquakes, etc.)

e. Riots, strikes, and other man-made calamities

g. Third-party property damage and bodily injury

h. Personal accident cover (if opted for)

Non-inclusions:

a. Damages due to wear and tear

b. Driving under the influence of alcohol or drugs

c. Mechanical or electrical breakdown

d. Depreciation on parts replaced during repairs

e. Using the car for illegal purposes

Additional Tips:

1. Add-on Covers: Enhance your policy with optional extras like engine protection or zero depreciation cover for a more comprehensive safety net.

2. Compare Quotes: Get quotes from different insurance companies to find the best coverage and price for your needs.

Remember, a comprehensive policy offers superior protection compared to third-party only insurance, which is mandatory by law but only covers your liability towards third parties. For a secure ride on Indian roads, a comprehensive policy is the way to go.
(more)
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.

Close  

You haven't logged in yet. To ask a question, Please Log in below
Login

A verification OTP will be sent to this
Mobile Number / Email

Enter OTP
A 6 digit code has been sent to

Resend OTP in120seconds

Dear User, You have not registered yet. Please register by filling the fields below to get expert answers from our Gurus
Sign up

By signing up, you agree to our
Terms & Conditions and Privacy Policy

Already have an account?

Enter OTP
A 6 digit code has been sent to Mobile

Resend OTP in120seconds

x