Financial planning (Kids Education & Retirement Goal planning)

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shridhar asked 6 years ago

Hi shrikant sir Im 31 yr salaried person want your help to select proper asset allocation and suitable product Or mutual fund to achieve following goals I can take moderate risk 1. Kids higher education- required 18L after 15years 2. Retirement- required 1 crore after 30 years I have proper term plan (maxlife) and health cover 5L (universal sompo) also this month going to buy accidental insurance, Have adequate emergency fund in aditya birla liquid fund (performing poor) and bank fds. Also I am investing 2000 per month in birla frontline equity (just for saving n wealth creation) should I continue or stop?

5 Answers

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Sreekanth Staff answered 6 years ago

Hi, Regarding Emergency fund, safety of capital is more important than returns. Personally, I have saved my EF in Bank FDs. Do you contribute to EPF scheme? What are the other investment products in your portfolio? Are you holding only one MF Scheme in your equity portfolio?

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shridhar answered 6 years ago

Thank you sir for your reply So let my fund be in liquid fund Or to transfer all in bank FD? I used to contribute in EPF, but since last 6 months Im working outside of india and cant contribute now. Have 1.54 lack rs in epf, not withdrawn yet. I am holding only 1 mutual fund, birla frontline equity, no other investment yet.

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Sreekanth Staff answered 6 years ago

Hi, You can have EF in Liquid fund + Bank FDs (multiple).. Suggest you to start saving in PPF (Public Provident Fund). If you are going to contribute to EPF again in the future, continue holding the funds in your EPF a/c. Do note that interest accumulation during non-contribution phase is a taxable income. You may stop future SIPs in Birla Frontline equity and move to large cap index fund like UTI Nifty Index Fund. Add one multi-cap fund and Hybrid Equity fund to your core portfolio. Related articles :

shridhar replied 6 years ago

Thank you for your guidance sir
I have one more query, I will stop my SIP in birla frontline equity. But what about amount accumulated in this fund?
Wether to withdraw it and invest in other fund Or let it be as it is?

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shridhar answered 6 years ago

Thank you for your guidance sir I have one more query, I will stop my SIP in birla frontline equity. But what about amount accumulated in this fund? Wether to withdraw it and invest in other fund Or let it be as it is?

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Sreekanth Staff answered 6 years ago

Hi, As of now, suggest you to hold on to your existing units in Birla frontline fund and may make future contributions to a large-cap index fund.