Sir My age is 53. My PF contribution from salary is (20K PF+ 20K VPF + 5K PPF) per month , NPS 50K/per year and Insurance premium of 30K/per year. Invested 20Lakh in 2400 sq ft land. Rest all contribution as of now is Rs 60 Lakh(PF and Insurance). My son is in 6th Standard. My take home after deduction is 1.5 lakh.
Don't have any home and staying in rented house. Total expense per month around 40K including sons education. I have not shared in any share market or mutual fund as of now. Is it right age for me to invest in share or mutual fund.
What else I can invest so that I can construct a house after retirement and sons education. Thank you
Ans: Upon reviewing your financial status, it's evident that you've made prudent choices in utilizing EPF, VPF, PPF, NPS for retirement savings, alongside owning land assets. However, your investment portfolio is heavily skewed towards debt instruments, lacking significant exposure to equity for potential long-term growth.
It's advisable to assess your risk tolerance with a financial advisor to ensure an appropriate asset allocation. Additionally, consider diversifying into gold or other asset classes depending on risk appetite. By implementing these strategies, you can enhance your financial resilience and pursue long-term wealth accumulation effectively.