I am 70 years old, shall like to invest lump-sum Rs1.5L in ELSS. Is it advisable . Can you suggest MFs to invest
3 Answers
Hi,
May I know your investment objectives (besides tax saving) and investment time-frame??
Dear Sir,
Your Reply :
Hi Sree
Thanks for prompt response.
Keeping in mind the age of 70 years, the Investment objective in addition to Tax Saving should be Wealth Creation. Time frame could be 3 to 5 years.
Last year I had invested in ABSL Tax Relief Fund 96 & Tata India Tax Saving Fund, both ELSS (75K each).
Request suggest suitable ELSS Funds.
My Suggestions :
Kindly note that you may be taking high risk by investing in ELSS Funds with an investment horizon of around 3 to 5 years.
If you are aware of this and ok take risk, you may make additional investments in your existing ABSL Tax relief fund itself this FY too.
Kindly read:
Dear Sir,
Your Reply : Hi Sree,
1. I am a retired person, drawing suffecient pension to meet my house hold requirements. Apart from this I have FDs of cumulative type & investment of 9L in MFs. ( 1. L&T Emerging Business Fund (G) - 1.5L 2. HDFC Hybrid Equity Fund (G) - 1.8L 3. Franklin India Corporate Bond Opportunities Fund - 2L. 4. ABSL Mid Term Plan (G) - 2L. 5. ABSL Tax Relief 96 - 75K & 6. Tata India Tax Saving Regular Plan Growth - 75K ) 2. Investment Objective is Wealth Creation. 3. My queries, keeping I mind the age of 70 years, are as under:- a) What is preferable - MF or FD b) Long duration/ high risk may not be advisable ? c) I have invested 100% in SCSS & MIS, apart from FDs. d) The money invested in FD/MF, will not be required to meet any routine requirements. 4. In next six months I will have about 30L. In addition to this I have surplus of about 30K pm. May I now request you to suggest me as to how should I Plan my investment. Regards. My Suggestions : 3 ) a. It depends on your investment objective and time-frame and how dependent are you on the income/wealth generated.. If your investment objective is wealth creation and you are ready to take risk, you can invest in a combination of Equity & Hybrid Debt Funds. Investing in FDs for long term leads to erosion of wealth. But, do note that returns from MFs are not guaranteed and can be volatile. Kindly read : b. An investment horizon of around 3 years is not a long duration. c . Ok. d. ok 4 ) You may kindly go through below articles and revert to me with your views;
Your Reply : Hi Sree,
1. I am a retired person, drawing suffecient pension to meet my house hold requirements. Apart from this I have FDs of cumulative type & investment of 9L in MFs. ( 1. L&T Emerging Business Fund (G) - 1.5L 2. HDFC Hybrid Equity Fund (G) - 1.8L 3. Franklin India Corporate Bond Opportunities Fund - 2L. 4. ABSL Mid Term Plan (G) - 2L. 5. ABSL Tax Relief 96 - 75K & 6. Tata India Tax Saving Regular Plan Growth - 75K ) 2. Investment Objective is Wealth Creation. 3. My queries, keeping I mind the age of 70 years, are as under:- a) What is preferable - MF or FD b) Long duration/ high risk may not be advisable ? c) I have invested 100% in SCSS & MIS, apart from FDs. d) The money invested in FD/MF, will not be required to meet any routine requirements. 4. In next six months I will have about 30L. In addition to this I have surplus of about 30K pm. May I now request you to suggest me as to how should I Plan my investment. Regards. My Suggestions : 3 ) a. It depends on your investment objective and time-frame and how dependent are you on the income/wealth generated.. If your investment objective is wealth creation and you are ready to take risk, you can invest in a combination of Equity & Hybrid Debt Funds. Investing in FDs for long term leads to erosion of wealth. But, do note that returns from MFs are not guaranteed and can be volatile. Kindly read : b. An investment horizon of around 3 years is not a long duration. c . Ok. d. ok 4 ) You may kindly go through below articles and revert to me with your views;
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