Need advice on financial planning and investing in Mutual funds with the percentage of breakup.

Q & A ForumCategory: Financial PlanningNeed advice on financial planning and investing in Mutual funds with the percentage of breakup.
Sautha asked 9 years ago
Please could you help me review my investment portfolio and provide your valuable suggestions and let me know for any corrections required anywhere? I am 47 years old professional with ~200k monthly salary. My goal is to accumulate 2 Crores for retirement in next 15 years. I have been investing in equity mutual funds since last 10 years (started with very little, Rs. 1000 per month and then increased significantly) and have zeroed in on the portfolio enumerated below. Have accumulated around 11 lakhs so far. Apart from below SIP’s, I have also invested in an LIC policies and PPF to save tax. Have bought a term insurance of worth 60 lakhs since last two years. Have got health insurance policy of Rs. 3.5 lakhs from the organization and I have personally bought one worth 2.5 lakhs. MF Portfolio is as follows – [1] Principal Emerging Bluechip Fund - Growth Option [2] Birla Sun Life Equity Fund-Plan A(Dividend) [3] Birla Sun Life Frontline Equity Fund-Growth [4] Birla Sun Life Pure Value Fund - Growth Option [5] DSP BlackRock India T.I.G.E.R. Fund - Regular Plan - Growth [6] DSP BlackRock Top 100 Equity Fund - Regular Plan - Growth [7] Franklin India Bluechip Fund-Dividend [8] HDFC Equity Fund - Growth Option [9] HDFC Top 200 Fund - Growth Option [10] ICICI Prudential Value Discovery Fund - Growth [11] Kotak 50 - Growth [12] Motilal Oswal MOSt Focused Dynamic Equity Fund - Regular Plan - Growth [13] Reliance Growth Fund-Dividend Plan-(D) [14] Reliance Growth Fund-Growth Plan-Growth Option [15] Tata Equity P/E Fund Plan A-(Growth Option) I am investing 7000 Rs in SIP. I want to increase it at atleast 12,000 Rs SIP per month. I prefer equity funds. Therefore you are requested to suggest good ones with high returns.
2 Answers
Sreekanth Staff answered 9 years ago
Hi, 1 - Considering your income profile, you may be under-insured. Consider enhancing your life cover if required. Kindly read: https://www.relakhs.com/best-online-term-insurance-plans-india/ 2 - You may share details of your LIC policies (Plan name, sum assured, tenure & commencement date). 3 - Kindly go through below article on Retirement planning; https://www.relakhs.com/retirement-planning-calculator-3-easy-steps/ 4 - Any specific reason / strategy for investing in so many MF Schemes?      
Sautha replied 9 years ago

Plan name Sum assured Premium Md Tenure Commencement date

1 Jeevan Surakhsa 320000 9448 Yly 26 28/06/2000

2 Jeevan Anand 100000 2753 Hly 21 22/07/2002

3 Asha Deep II 50000 2749 Yly 20 15/08/2004

4 Asha Deep II 50000 2279 Yly 25 15/08/2004

5 Endowment with profits 50000 2477 Yly 21 15/08/2004

6 Jeevan Tarang 100000 5147 Yly 20 28/04/2006

7 Jeevan Tarang 100000 5147 Yly 20 28/06/2006

8 Jeevan Tarang 100000 5147 Yly 20 28/08/2006

9 Jeevan Tarang 100000 5147 Yly 20 28/10/2006

10 Jeevan Tarang 100000 5147 Yly 20 28/11/2006

11 Jeevan Tarang 100000 5147 Yly 20 28/12/2006

12 Jeevan Saral 500000 24020 Yly 32 28/10/2008

13 Jeevan Kishore 100000 1029 Qly 23 28/11/2004

14 Jeevan Kishore 100000 1029 Qly 23 28/12/2004

15 Jeevan Kishore 100000 1029 Qly 23 28/01/2005

16 Komal Jivan 100000 – 24 28/12/2002

I invested in MF schemes as per advice of may financial advisor. No specific reason. Only to achieve about 15% CAGR.

Sreekanth Staff answered 9 years ago
Hi, Too much diversification (MFs) may not be really beneficial, you may try to trim down your portfolio. Kindly read: https://www.relakhs.com/mutual-fund-portfolio-overlap-comparison-tools/ https://www.relakhs.com/best-mutual-fund-scheme-risk-ratios/ https://www.relakhs.com/best-mutual-fund-schemes-2017/ Most of your LIC Policies are traditional endowment or whole plans. These kind of plans may give you very low returns on maturity. If your requirement is to have adequate life cover, you may buy a Term insurance plan and then can consider discontinuing these policies. Read: https://www.relakhs.com/traditional-life-insurance-plan/ https://www.relakhs.com/term-insurance-plan-a-waste-of-money/ https://www.relakhs.com/insurance-importance-life-health-accident-covers/ https://www.relakhs.com/best-online-term-insurance-plans-india/
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