I am a 55 years old widow. My son is independent and an NRI. My unmarried daughter is 28 and not working. I am financially independent and earning around 10 lakhs p.a. I have two flats. I have following M.Fs. as suggested by a financial advisor when I got the money after my husband’s demise.
- Franklin india prima plus growth: 100000/- bought in 2007
- Reliance floating rate fund – short term plan – growth: 100000/- bought in 2007
- Reliance diversified power sector fund – growth: 100000/- bought in 2007
- Icici prudential short term plan – cumulative option:100000/- bought in 2007
- Icici prudential dynamic plan – cumulative: 100000/- bought in 2007
- Tata money market fund – growth: 100000/- bought in 2007
- Tata pure equity fund – growth: 100000/- bought in 2007
- SBI – Magnum tax gain Scheme-Dividend: 100000/- bought in 2007
- Bajaj Allianz gold plus: paid 5 premiums :75000/- started in 2008
- SBI smart life: paid 3 premiums as discussed with sbi bank:50,000/- started in 2009
- IDBI federal insurance: still on for Rs 50,000/- started in 2010
- Axis long term equity fund –direct growth: 100000/- bought in 2015
- Tata India Tax Savings Fund Direct Plan Dividend: 100000/- bought in 2015
- Axis long term equity fund: 100000/- bought in 2016
- Franklin India tax shield-direct: 100000/- bought in 2017
- Birla sunlife tax saving: 100000/- bought in 2017
I have bought Axis long term equity fund and Birla sunlife (100000/-each) for my daughter also. The reason is that I thought this is the right way of multiplying the surplus money. My daughter also has F.Ds. for 15 lakhs.
If I am left with 10 lakhs, please tell me where to invest? Should I go for debt fund or F.D.?We have health insurance also.
I think you are the best person who can advise me for this. I have read your answers and really impressed by your skills.
Thanking you in anticipation….
Hope to hear from you soon…..Chinu
These many mutual funds are not at all required. Also, without understanding your financial goals, it is hard for me to guide. Please share the goal tenure and name.
There is no specific goal as such. My other savings and F.Ds. will take care of my daughter’s wedding. Its just to spend easy life after retirement and investing the hard earned money wisely.I don’t want my money to be idle in savings account. I am not interested in buying any retirement plan.