Hello sir,
I m from rajasthan. I like your articles on financial planning. I am a teacher and my wife is also a teacher. I am 28 year old and want to start a sip for long term about 15 to 20 years. I am first time investor and my knowledge is zero about mutual fund sip. Please tell me from where to start sip ,online or advisor. Because i m from very rural area of rajasthan.
My goals are (1) after 10 years 1 crore for house. 2) and after more 10 years 2 crore for children's education and marriage.(we have 1 boy and want 1 girl child also).(3) i recently bought a life insurance endowment plan of 5 lac, installment-22500rs per year for 23 year. Is this is right or i should surrender it? Please suggest some funds for me and how can i manage my portfolio. (4) is MYCAMS app is right way to start sip online? Plz suggest good platform. Sir plz suggest ELSS fund for me and my wife. We easily save 20000 per month, is sip is best or other traditional saving like ppf etc.? Plz help sir. And sorry for my poor english.
Thnks.
1 Answers
Hi,
If you are comfortable investing through online mode, there are plenty of platforms available in the market.
CAMS app is fine. You can also check out MF Utility Platform (this is MF industry sponsored one).
1 - Suggest you to buy a Term insurance plan with adequate life cover and then can surrender the existing life insurance policy.
2 - Kindly go through below list of articles, can be useful to plan your finances. You may revert to me with more queries (if any) ;
https://www.relakhs.com/personal-financial-planning-articles-list/
https://www.relakhs.com/traditional-life-insurance-plan/
https://www.relakhs.com/insurance-importance-life-health-accident-covers/
https://www.relakhs.com/best-online-term-insurance-plans-india/
https://www.relakhs.com/emergency-fund-importance/
https://www.relakhs.com/retirement-planning-calculator-3-easy-steps/
https://www.relakhs.com/calculate-kids-education-goal-amount/
https://www.relakhs.com/mfutility-invest-direct-plans-mutual-fund-schemes-online/
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