Hi,
I find your blogs very informative. Need to seek your advice. I m 39 year old salaried Rs 90 k pm take home , monthly savings 40 k , present investment bank SB ac -13 lac , PPF -8.5 lac, Bank FD - 45 lac, MF Portfolio-magnum multiplier 80 k, SBI Midcap- 35 K, SBI Savings fund - 8 lac , BSL Wealth 25 MIP -2 lac, BSL dynamic bond-1 lac, magnum contra fund-60 k,
goal is to build corpus for child education (9year ), and buy house after 10 years.
I have picked hdfc balanced fund, icici pru discovery fund, Sbi blue chip fund ,mirae emerging blue chip fund, Sbi balanced fund DSP Blackrock micro cap fund for sip for 10 years plan pls suggest proper asset allocation for optimum returns.
regards
harish
2 Answers
Hi Harish,
Any specific reason for saving high value amounts in Saving bank a/c & FDs?
Your portfolio is highly skewed towards Debt/Fixed income securities.
1- Do you have any existing life insurance policy?
2 - Do you have health & Personal accident covers?
Kindly go through below articles and you may revert to me;
http://www.relakhs.com/calculate-kids-education-goal-amount/
http://www.relakhs.com/retirement-planning-calculator-3-easy-steps/
http://www.relakhs.com/personal-financial-planning-articles-list/
Hi,
1 - Do not depend completely on Employer's provided group cover. You may consider buying a PA plan and also stand-alone mediclaim policies or Family floater health insurance plan.
Read:
http://www.relakhs.com/best-personal-accident-insurance-policies-in-india-details-comparison/
http://www.relakhs.com/best-family-floater-health-insurance-plans-details-checklist-comparison/
http://www.relakhs.com/best-health-insurance-comparison-websites-portals/
2 - You may continue with PPF for your long-term savings (towards retirement corpus) + tax saving purposes.
3 - Your selection of funds - hdfc balanced fund, icici pru discovery fund, Sbi blue chip fund ,mirae emerging blue chip fund, Sbi balanced fund DSP Blackrock micro cap fund are good ones.
However you may check the portfolio overlap between the two balanced funds and if the overlap is high you may consider one balanced fund.
You can set-up STP (Systematic Transfer plans) from Liquid funds to Equity oriented funds (in case if you would like to invest your high corpus amounts).
Kindly read:
http://www.relakhs.com/list-of-best-investment-options-schemes-in-india/
http://www.relakhs.com/best-mutual-fund-scheme-risk-ratios/
http://www.relakhs.com/mutual-fund-portfolio-overlap-comparison-tools/
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Hi thanks for prompt response, I would like to mention that high value amount in savings account and FD are just parked for further investment , the amount belongs to savings and terminal benefits from my previous job abroad. As I m settled here with my present job in India , I plan to invest this amount lump sum and my present monthly savings through SIP for wealth creation ,child education and buying house.
You have rightly pointed that my portfolio needs shift towards equity for growth. I am looking towards opportunity and ideas for investment, please suggest.
1-I am having 1.5 car term plan with ICICI I protect.
2-policy for health and PA cover is provided by my employer for self and family.
Thanks in advance for your valuable advice.
Regards
Harish