Sir, I am 64 yr. Investing 5000 in SBI dividend yield, 10000 in SBI Contra and 5000 in Nippon innovation . Am I on right track sir? All funds are in are direct and growth. Suggestions are welcome for other funds too.
Ans: Investing at 64 shows your commitment to financial security and a comfortable retirement. Your allocation reflects a balanced approach.
Diversification across dividend yield, contra, and innovation funds is prudent. These funds offer exposure to different market segments, reducing overall risk.
However, at your stage, it's crucial to prioritize stability and income generation. Dividend yield funds may offer regular income streams, aligning well with your needs.
Contra funds, with their value-oriented approach, can provide stability during market downturns. Innovation funds add growth potential, albeit with higher risk.
Ensure your portfolio reflects your risk tolerance and income requirements. Consider allocating more to income-generating assets as retirement approaches.
Regular review and rebalancing are essential to adapt to changing market conditions and personal circumstances.
Additionally, consider consulting a Certified Financial Planner to tailor your portfolio to your specific goals and needs.
In conclusion, your current allocation shows a thoughtful approach. Prioritize stability and income generation while keeping an eye on long-term growth.
Best Regards,
K. Ramalingam, MBA, CFP,
Chief Financial Planner,
www.holisticinvestment.in