Sir. Myself Ajith thomas aged 45.presently investing Rs 2500 as SIP in canara robeco equities regular growth since 10 months. Would like to invest another Rs 2500 as sip. Myself a State govt employee retiring at 60 yrs of age. Two daughters aged 13 and 8.would like to create a wealth corpus for their education marriage purposes and post retirement. Pls suggest suitable mutual funds to invest in. Need your expert opinion.
Ans: Hi Ajith and thanks for writing to me. As your time horizon is long, you can consider investing in Equity funds. You can consider starting your second SIP in SBI Focused Equity Fund. Assuming that your investment grows at 12% XIRR, investing Rs.5,000 over the next 10 years will help you create a corpus of around 7 Lakh.
For achieving your goals of child education & their marriage, I recommend you seek professional advice from a financial planner who can also put into perspective your other savings and create a comprehensive plan for you.