Hi Srikanth.
First of all thanks for your enlightening articles which provide lot of insights to all of us. I have couple of queries to you. I am 32 year old. I wish to invest in ELSS for this year's tax saving under 80C. For this I have chosen invesco tax saving fund. Secondly I want to do SIP in mutual fund for 5-10 years (with moderate risk). For this I have shortlisted parag parikh long term equity growth plan and L&T MID CAP. Third, I want to save in nps. I don't know how to do this. Request yours insights on the aforementioned selections. Thanks once again.
Regards,
Dilip Reddy.
2 Answers
Dear Dilip,
Thank you for following my blog posts!
Are you new to investing in Mutual funds? Or Do you have any existing investments?
I have been using ELSS as tax saving options since 2011 basis random picks and friends advise. I have invested in ELSS funds like AXIS TAX SAVING, FRANKLIN, CANARA ROBECO, L&T TAX ADVANTAGE, HDFC TAX SAVING, ICICI PRUDENTIAL LONG TERM SAVING, RELIANCE TAX SAVER, INVESCO TAX SAVER where in altogether I had invested around 500000 whose worth is around 762000 currently. Let me know if you require any further information. Thank you.
Dear Dilip,
Advisable not to invest in multiple funds in the name of diversification, which may not be really beneficial.
For an investment horizon of 5 to 10 years, you may consider Hybrid Equity funds. Ex : HDFC Hybrid Equity / ICICI Equity & Debt fund etc.,
What is the reason for selecting NPS as one of your investment avenues?
Suggest you to kindly go through below articles and you may revert to me with your queries (if any);
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