I am class 2 officer in government of Gujarat, my monthly salary is 1 lac pm post tax
My expense is around 20000pm
Where should I invest my 40000 per month amount to buy a house worth 60 lac after 8 years
Ans: With your surplus of Rs. 40,000 per month and a goal to purchase a house worth Rs. 60 lakh after 8 years, you have a good opportunity to accumulate a substantial down payment through disciplined investing.
Consider a diversified approach to investing your surplus funds. Allocate a portion towards equity mutual funds for potential growth over the long term. Additionally, allocate some funds towards debt instruments like fixed deposits or debt mutual funds for stability and capital preservation.
Regularly review your investment portfolio to ensure it remains aligned with your goals and risk tolerance. As you approach your target timeline, consider gradually shifting your investments towards more conservative options to protect your capital.
Furthermore, explore government schemes like the Pradhan Mantri Awas Yojana (PMAY) or any state-specific housing schemes for potential benefits or subsidies.
Consulting with a Certified Financial Planner can provide personalized guidance tailored to your specific financial situation and goals. Together, you can create a tailored investment plan to help you achieve your goal of purchasing a house in 8 years.