I am the great follower of your blog you are doing a very nice job to spread the awareness towards Financial Planning. Thanks for Helping us to take better decisions.
I have started 2 SIP\\\’s 1000/month in Aug 2014 :
a) HDFC Equity Fund – Direct Growth – Duration : 3 Years
b) HDFC Midcap Opportunities fund – Direct Growth. – Duration : 5 years.
Now I am planning to start another investment listed as below from March 2016 :
1000/month as of now (afterwards increasing by year)
Mutual Funds :-
- DSP BlackRock MicroCap Fund (Direct growth or Regular Growth)
- ICICI Prudential Value Discovery Fund (Direct growth or Regular Growth)
- Franklin India High Growth Companies Fund (Direct growth or Regular Growth)
- Birla Sunlife Frontline Equity (Direct growth or Regular Growth)
All the Mutual funds I have selected from Crisil MF Ranking Report of Dec 2015. From this 4 I have selected 1 fund and planning to invest i.e. DSP Blackrock MicroCap Fund as per the returns and consistent performance from Crisil Factsheet.
Please suggest me one more best fund from the remaining 3 or please suggest me any best fund to invest my plan is to invest for 5-10 years. Also, suggest me as Beginner Level I should go with Direct Growth or Regular Growth Plan.
Bhavesh-First let me know the exact time period. There is a huge 5 years gap between 5 years to 10 years. Be specific and let me know.
My Exact time for funds is i will gor 5 years for 1 fund and 10 yrs for another one.
Whether you set goals based on your requirement or on funds? It is wrong to invest so. Let me know your thought on this.
See my primary goals are after 5 yrs i dont know if i need some money thats y i kept 1 for 5 yrs and another for 10 yrs.
i understand that this way we should not invest but i am the only person earning in my Family so in family if anything comes then i need some amount of money.
I hope this clears your confusion.
And no worries if i will not need it after 5 yrs then i will extend the same for another 5 yrs.
Bhavesh-Then first create that emergency fund. Because without such fund, if you start investing in equity and say after few months or years, you need cash. But if the market is unluckily down means what? Without emergency fund at place, if you start investing, then you yourself don’t know when you withdraw that. Hence, give first priority to emergency fund.