I am 35 year old working professional having annual CTC 13 lacs.
I have already invested 1500 PM in Franklin Tax shield Growth(G) from June-2011.
My long term goals are:
- First son(5 years)- professional fee in year 2027=20 lacs
2. Second son(1 year)- professional fee in year 2031=20 lacs
3. First son(5 years)- Marriage in year 2037=70 lacs
4. Second son(1 year)-Marriage in year 2040=75 lacs
5. Retirement in year 2040= 1.5 crore
Please suggest some ELSS(3k PM) /equity diversified SIPs for the goals.
Kdhand-When you raised the question about Financial Planning then it needs all personal and financial data from your end. However, going by your explanation, I found that you are looking for some ELSS fund selection. You may go with with Axis Long Term Equity Fund or HDFC Tax Saver.
Thanks But can you please suggest any MFs goal wise.
Apart from Retirement goal, all are short term goals. Hence, no equity for such goals. But for retirement goal, you can start with investing one large cap, one small/mid cap and another balanced fund.
thanks but the horizon for other goals are also 15-25 years.
Oh…I saw only the age of kids. For all goals I suggest one large cap fund, one small and mid cap and a balanced fund. Maintain around 70:30 Equity:Debt portfolio.
tons of thanks…One thing ,may I choose /assign MF as per goal or common for multiple goals.
In my view, it is better to have 3-4 funds for all your goals included. Because selecting each fund for a goal make create confusion. As the goal nears, you can start to rebalance more towards debt on your own.