I am 30 year old lady working in government service with 37000 salary. I want to construct a house for 50 lakhs in 5 years. Also want to raise a corpus of 50 lakhs after 15 years for my child education and by 30 years want a retirement corpus of 4 crore. I have selected the following SIPs.
For retirement:
BSL Tax relief 96 - 2500
DSPBR Tax Saver - 2500
NPS - 3500 (increases with salary)
For child education:
SBI Blue chip - 1000
Mirae Asset Emerging blue chip -1000
BSL equity fund - 2500
ICICI Pru value discovery - 2500
Franklin india high growth companies - 1500
For house:
ICICI Pru balanced fund- 6000
HDFC Balanced fund - 6000
Bank FD of 5 lakhs
Chit fund for 10 lakhs (it is for 15 years and 4 years payment completed)
Remaining by taking home loan
Please review my fund selection and guide me. Whether I can achieve my goals with this plan or more I have to invest.
1 Answers
Hi,
Suggest you to kindly go through below articles and you may revert to me with your analysis ;
https://www.relakhs.com/calculate-kids-education-goal-amount/
https://www.relakhs.com/retirement-planning-calculator-3-easy-steps/
I believe that your high priority goals are Retirement planning and Kid's higher education..So, you may allocate the investible surplus first to these goals and then to 'purchase of house' goal.
Individually all the funds are good ones.
Under Child Education goal, You have listed down three multi-cap funds..you may kindly check their portfolios overlap (if any).
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/
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