I am 34 yrs old and have started my mutual fund journey on 4/11/2021. I have an idle corpus of 10 lakh and had kept aside 5 lakh for my emergency needs. I need to invest appropriately to meet these needs.
1. Child's education and related needs (2 kids - timeline 15 years) - 1 crore
2. Retirement corpus (20 yrs) - 5 crore
I decided to be very aggressive as I was quite late to the mutual fund scene and invested lump sum with a time horizon of 5 years. This is my current portfolio:
1. ICICI Prudential Technology Direct Plan Growth - Rs.50000
2. PGIM India Flexi Cap Fund Direct Growth - Rs.50000
3. Parag Parikh Flexi Cap Fund Direct Growth - Rs.50000
4. Axis Small Cap Fund Direct Growth - Rs. 50000
5. SBI Contra Direct Plan Growth - Rs.50000
Apart from the above, I also have PF contribution from employer, life insurance plans and a traditional plan which takes up 1 lakh per annum.
I can set aside 40000 per month for SIPs and 10 lakh must be utilised for lump sum investment. Please advise.