I would like your suggestions on below MF selection. I have started SIP on below MF’s over the past 6 months.
- Axis ELSS fund – 2000
- Reliance Pharma fund – 2500
- SBI Pharma fund – 2500
- DSP Blackrock MicroCap fund – 4000
- ICICI value discovery fund – 2500
- SBI Blue chip fund – 2500
- Mirae Asset emerging bluechip – 2000
- Principal emerging fund – 4000
- SBI and ICICI IT fund : 4000
- L&T india value growth fund : 2000.
Apart from the above i am a regular investor in Bank FD’s/PPF. My investing strategy is, i am putting my wife’s salary in Mutual Funds and my salary for expenses and other safe investments like Bank FD/PPF/EPF/NPS.
I would like to know your opinion sir.
Why so many funds? Also, your saving debt and wife saving equity is not the best strategy. Instead, it must be based on your financial goals.
Sir, basically my goal is to quit my job in 10 years time when I reach 40 and do something which I love. Also, I have a corpus of close to 30 Lakhs which I have parked in FD’s.
And basically i am investing 15 k per month in PPF and i had a figure of 30k for MF’s which i am investing currently. Can you kindly let me know on what funds i can cut down on? Also with my figure of 30k per month on MF’s i hope to attain financial freedom in 10 years time, is my dreams valid? I would like to know your humble opinion sir.
I can’t say whether Rs.30,000 per month for your retirement is suffice or not. Because retirement calculation is not so simple and I can’t do that in this platform. For 10 year goal, 60% in debt and 40% in equity is what I recommend. In equity one large cap fund like SBI Bluechip and one small and mid cap fund like Franklin India Prima Fund or HDFC Midcap Opp Fund. Two funds for equity are enough. For debt, if your goal match to maturity of PPF, then you can invest in PPF. Otherwise, you have to use short term or ultra short term debt funds.