you are doing a great job here. PFB my details.
Age : 27 years
Liability: Education loan of INR 3,40,000. currently 2,30,000 left to pay, which I want to finish of in next 6 months. EMI: 6K/month (but paying around 40k/month, so that I pay less on interest, and personally I do not want to keep any debt/loan on my shoulder)
- INR 10K/month SIP to AXIS ELSS DIRECT GROWTH
- INR 5K/month SIP to DSP BLACKROCK MICRO CAP DIRECT GROWTH
- I have PPF, will put 30k in this financial year.
- will buy NSC this financial year for 10000
parents dependent on me.
NICL mediclaim for them 1,50,000 INR each for them currently paying 7000 INR/year. (which I will double to 3 lakhs next year)
my mediclaim: 5 lakhs from reliance (Employer provided it)
Term insurance: 75lakhs already taken for 30 years.
- Investment horizon long term for ELSS and small cap.
- planning to buy direct stocks only safe large cap stocks for long term(like tata, reliance, adani, tcs, aditya birla)
- if plan 2 I feel uncomfortable will buy large cap MF directly.
- planning to renovate house in next 36 months, I need 10 lakh INR for that, planning to go for liquid fund/arbitrage/debt fund for this (high priority)
1. Please suggest what shall I add or delete in my MF portfolio,
2. Help me with my plan 4, of renovating house.
3. Shall I pay off education loan quickly to become free from debt or go slow?
I have monthly savings approx 50K after investment and personal expenditure.
- Create emergency fund of at least 6-12 months of your expenses.
- Buy health insurance for yourself (even though company providing it). Increase health insurance coverage to parents to at least Rs.5 lakh sum insured.
- Buy accidental insurance for yourself.
- Long term means? If your goals are long term, then why NSC?
- Buying stocks is not a financial goal.
- Stick to MF as long as you are comfortable with equity volatility.
- Start creating corpus by using products like Bank FDs or RDs.
Try to come out of loan (any type of loan is always bad). But at the same time, try to identify your financial goals and based on this start investment. If your time frame is long term, then this is the best time for you to accumulate it through MF.
The biggest mistake in you is not identifying why you have to invest.