Need advice on financial planning and investing in Mutual funds.

Q & A Forum › Category: Investments › Need advice on financial planning and investing in Mutual funds.

johnjmat asked 9 years ago

Hello Sreekanth, I am a newbie to mutual funds and would like to start to invest for the future. I hope to save taxes as well and look to invest 60k per year. I would like to invest in mutual funds with low risks. I do not have any loans, have a take home of 45k per month, have a company provided health insurance and family floater insurance. Kindly advise. Regards, John

4 Answers

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Sreekanth Staff answered 9 years ago

Dear John, Kindly let me know your investment objectives (financial goals) & time-frame. Kindly note that mutual funds are subject to take risks. Do you have dependents?

johnjmat replied 9 years ago

Dear Sreekanth,

My wife and child are dependent on me. I would like to invest with a time period of 18 years so that I may get surplus funds for my child’s education. Kindly advise as to how much I should be saving per month/investing so I can setup a cash fund for my child’es education expenses.

Regards,
John

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Sreekanth Staff answered 9 years ago

Dear John, Suggest you to kindly go through below articles and you may revert to me with your queries/analysis; Kid's education goal planning & Calculator Retirement planning & calculator Financial planning pyramid. List of important articles on Personal Financial planning.

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johnjmat answered 9 years ago

Hi Sreekanth, The articles were really good and opened my eyes to the plethora of options available. I am now interested to open a term insurance for me and would like to invest around Rs 50k per annum in PPF. Would you suggest I invest in ppf alone or should I look for ELSS/mutual funds to increase wealth. Ideally, I look forward to have around 50 lakhs at the end of 20 years.Kindly advise. Regards,
John

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Sreekanth Staff answered 9 years ago

Dear John, As suggested do make use of the calculators available in the above provided articles, to arrive at your expected savings amount to reach your target goal amount. Term insurance : Kindly read @ https://www.relakhs.com/best-online-term-insurance-plans-india/ PPF is a good debt oriented long-term savings option. But to accumulate wealth over longer period, you need to look out for other equity oriented options, which can beat inflation & taxes. Read: https://www.relakhs.com/what-is-time-value-of-money-tvm/ https://www.relakhs.com/real-rate-of-return-inflation-adjusted/ For different investment options; https://www.relakhs.com/list-of-best-investment-options-schemes-in-india/ https://www.relakhs.com/best-mutual-fund-schemes-2017/ https://www.relakhs.com/best-mutual-fund-scheme-risk-ratios/