Dear Sreekanth,
My knowledge about investing is close to nothing. I'm 38 years old. Successfully ran a elearning business (team of 24 employees) for the last 10 years, as my small business clients are out of business or reducing expenditure, I'm out of business.
I have some debts too. Now, I have a property( my last asset) on which I'm borrowing 20 lakhs for 11 month period.
Purpose: to start a small venture (solo) which gives me a decent return.
However, I require INR 5 lakhs to be invested on business now, and the business may require some pumping in for marketing and sales in later stages.
Could guys kindly advise where should I invest my remaining money of INR 15 lakhs (WHERE AND HOW). I'm considering mutual funds like hybrid-debt oriented fund or MIPs (Monthly Income Plans).
(i'm expecting a monthly return here). Could you add an advice on how to vigilant in this present turbulent times too?
Monthly payout as interest for the amt borrowed will be 40k,
My business returns + mutual funds income = should take care of my monthly expenses( interest + my expenses) and growth.
Ideal situation: My business has good chance to take of my monthly needs, in which case I shall allow my investment to stay and grow ( if they are performing well, i would love to make add on investments)
As my business grows, then there shouldn't be problem. Kindly suggest as I can't afford to make mistakes at this juncture ( though my mindset is always ready to take calculated risks).
My only goal now is to grow out to this situation to INR 1 lakh monthly passive income. How should I plan to accomplish?
I look forward to your valuable suggestions.