Kindly advice me on monthly SIPs for investment purpose. I am 43 years & currently having below SIP since 5 years.
Aditya Birla SL Frontline Equity Fund (G) - 2500/m
ICICI Pru MidCap Fund (G) - 2500/m
HDFC Mid-Cap Opportunities Fund (G)-2500/m
Parag Parikh Flexi Cap Fund (G) - 2500/m
Franklin India Focused Equity Fund (G) - 1500/m
Invesco India Dynamic Equity Fund (G) - 2500/m
Also I want to invest Rs 500,000 lump sum.
Goal:
Child 1 education - 15-20 lakh after 5 years
Child 2 education - 20-25 lakh after 10 years
Retirement - 1.5 Cr, after 18 years
Kindly advice the best option to proceed.
Ans: Goal 1: Monthly Investment required is of Rs. 20000 for 5 years
Goal 2: Monthly Investment required is of Rs. 10000 for 10 years
Goal 3: Monthly Investment required is of Rs. 15000 for 18 years
Schemes selected are fine, allot them to each goal