Hallo Sir, I'm Railway employee, aged 33 yrs, married and glad to have 8 months baby boy. My gross income Rs. 8,00,000/- Per annum... I have House building lone of Rs. 31,000/- pm.
After all expenditure of per month. Deduction of NPS fund are there per month as the guide line of govt. Except the NPS deduction I have PPF account where I'm Investing of Rs. 1,500/-pm.
Now I am determined to invest of Rs. 17,000/- pm per month to secure the future of my son and I have a long term goal minimum of 10 years.
May please advise me where I shoud invest the Rs. 17,000/- pm.
Let me also know how to invest the aforesaid amount in different ways to earn maximum profit.
Thanking you in anticipation.
Ans: Congratulations on the newest addition to your family! It's heartwarming to see your dedication to securing your son's future. With a clear goal of investing Rs. 17,000 per month for the next 10 years, you're taking a significant step towards long-term financial stability.
Considering your circumstances, it's wise to explore a diversified investment approach tailored to your risk tolerance and financial goals. This might include a mix of equity mutual funds, debt instruments, and possibly even some exposure to balanced or hybrid funds.
By diversifying your investments, you spread risk and maximize potential returns over the long term. Remember, investing is a journey, and it's crucial to stay focused on your goals while navigating market fluctuations.
Consulting with a Certified Financial Planner can provide personalized guidance aligned with your aspirations. Together, you can craft a robust investment strategy that caters to your son's future needs and ensures financial security for your growing family.
Your commitment to securing your son's future is truly commendable, and with strategic planning and prudent investment choices, you're laying a solid foundation for his bright tomorrow.
