My Daughter us 21 years old, I want to invest MF for her about 5000 rs per month, what is the best fund and how long I should invest so that she have good balance upon my retirement, I am 41 years old, working mother
Ans: Hello Aparajita and thanks for writing to me. As your daughter is young, she will reap the benefits of compounding.
You can consider beginning monthly SIP's in:
1-Edelweiss NIFTY 100 Quality 30 Index Fund-Rs.1,000
2-SBI Focused Equity Fund-Rs.1,000
3-Kotak Small Cap Fund-Rs.1,000
4-SBI Magnum Mid Cap Fund-Rs.1,000
5-HDFC Nifty 50 Index Fund-Rs.1,000
You also can consider stepping up your SIP's every year to create a larger corpus. Periodical rebalancing is essential to ensure you are on track to achieve your financial goals.