My age is 43 and I an investing in below MF for last 5 years .I retire at 58 and I have a daughter of 3 .I target to accumulate at least 4-5cr by retirement for my daughters marriage and retirement.
Will the below investment help me or should I I change my mutual funds?
I can invest 40K a month totally in Mutual Funds.
Axis Blue chip Fund -2500 per month
Canara Robeco Blue Chip Equity Fund -5000 per month
LIC MF LARGE AND MIDCAP FUND -3500 per month
Fund Mirae Asset Emerging Bluechip Fund 2000 -2500 Per month
Axis Small Cap Fund - 4000 per month
SBI Contra Fund -3000 Per month
Since last 1 year investing in
HDFC Balanced Advantage fund -4000 per month
Quant Absolute fund - 3000 per month
Besides the above I also have a term life insurance of 1.25cr and also tax savings MF @6K per month ( for last 10 yrs)and LIC policy of 10Lacs.
Ans: You've demonstrated foresight in planning for your daughter's future and your retirement. However, it's essential to periodically review and adjust your investment strategy to ensure it aligns with your goals. As a Certified Financial Planner, I appreciate your dedication to securing your family's financial well-being.
Consider reassessing your mutual fund portfolio to ensure diversification, risk management, and alignment with your time horizon. Evaluate the performance of your current funds and consider factors like fund size, expense ratio, and fund manager track record.
Additionally, continue prioritizing contributions towards your retirement and daughter's marriage goals. Regularly review your financial plan and make adjustments as needed to stay on track towards achieving your targets.
Remember, investing is a dynamic journey, and adapting to changing circumstances is key. Consult with a Certified Financial Planner for personalized guidance tailored to your specific needs and aspirations. Keep nurturing your financial plan with care and diligence, and you'll pave the way for a secure and prosperous future for your family.
