Sir, I am 46 years old having monthly income of 1.4lac,my son is. 16 yr,my daughter is 11yr, staying in rented house in A1city now I don't have any debts now I am planning to invest in SIP kindly suggest me where I have to invest
Ans: Hello;
You may do a monthly sip of 65 K into following type of mutual funds with the allocation as given:
1. Flexicap type mutual fund: 20 K
For eg PPFAS flexicap fund
2. Large and Midcap type mutual fund: 20 K
For eg Kotak Emerging Opportunities Fund
3. Midcap type mutual fund: 15 K
For eg Sundaram Mid Cap fund
4 Small cap type mutual fund: 10 K
For eg Nippon India Small cap fund
Funds suggested are from the top quartile, in terms of performance, in their respective category.
At the end of 14 years you may expect a corpus of 3.1 Cr assuming modest return of 13%.
After 10-12 years you must periodically transfer your gains to a liquid or ultra short duration debt fund to protect it against market volatility.
Happy Investing!!
*Investments in mutual funds are subject to market risks. Please read all scheme related documents carefully before investing.