I am 32 years old and I am working in BSNL. I have started investment of Rs 12,000 per month through SIPs (2000 each) in 6 funds from May 2017 and going to invest 3000 more in an ELSS Fund .
Current Funds are Kotak Select Focus Birla Sun Life Equity Fund Growth L& T value India Fund Mirae Asset emerging bluechip Fund HDFC Mid Cap opportunity Franklin India Smaller companies All the above funds have direct plan and growth option.
My Goals are Child education (He is now 5 years old & in L.K.G standards) & time horizon 14-16 years. Retirement Plan (Presently only my contribution towards EPF is 6500 per month) & my retirement is in Dec 2045. Kindly suggest me how much fund at least I have to require for child education (i.e. best possible e.g. Medical or Law or IIT or MBA or study in Foreign) and for my retirement plan (My present monthly expenditure is 15000 Rs) So suggest me ELSS fund and Please review my portfolio, whether I am meeting my goals or not.
Please Guide me Thanking You Virender Kumar
1 Answers
Hi,
Your existing MF portfolio has 3 mid-cap and one small-cap funds.
You may check overlap among these and may drop one.two funds if overlap % is high (say above 40%).
Kindly read :
https://www.relakhs.com/mutual-fund-portfolio-overlap-comparison-tools/
As a replacement, you may include one Balanced fund along with an ELSS fund (for tax saving purposes).
Kindly read :
https://www.relakhs.com/best-elss-funds-2017-2018/
Do you have adequate life insurance cover and health insurance cover?
Suggest to use the calculators available in the below articles and you may revert to me with your analysis ;
https://www.relakhs.com/retirement-planning-calculator-3-easy-steps/
https://www.relakhs.com/calculate-kids-education-goal-amount/
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