Dear Sreekanth,
I would like to start investment in fresh SIP on my mother's name as she financially dependent on me aged 65.I had already taken 5 Lakh health Insurance policy on her name.I would like to know best options if i start 5000 SIp on her name for 5 years and reinvest the accumulated amount for her financial/health support. pls do guide me in this regard.Thanks.
3 Answers
Hi,
May I know if you can take risk on this investment? How dependent will she be on this accumulated corpus after 5 years?
Yes,I can take moderate risk for 5 years as gradually accumulate the corpus for her through SIP and that amount can be used for her needs thereafter.
Hi,
You may consider investing in two types of funds 1) short term debt fund / MIP fund and 2) Equity oriented balanced fund.
Ex :
SBI MIP Floater fund / Birla MIP Wealth 25 fund / Franklin Low duration fund. Birla fund is an aggressive MIP scheme. (You may pick any one of these funds, you may expect returns of around 7 to 10% in next five years, kindly note that returns are not guaranteed on mutual funds.)
HDFC Balanced fund.
Related articles :
https://www.relakhs.com/best-monthly-income-plans-india-mutual-funds/
https://www.relakhs.com/debt-funds-types-benefits-risk-vs-return/
https://www.relakhs.com/best-balanced-mutual-fund-schemes-review/
https://www.relakhs.com/best-mutual-fund-scheme-risk-ratios/
https://www.relakhs.com/mutual-fund-portfolio-overlap-comparison-tools/
Please login or Register to submit your answer