I have done some mutualfund investment on my name and my wifes name I am doing mutual fund investment from 5 to 6 yrs. gradually increased my sips. 1) Hdfc mid cap sip 10000p/m total = 4 lac 2) icici pru focused bluechip sip 8000 p/m = 1.6lacs 3) reliance money manager fund 2500 p/m =88000 4) Birla Sun Life pure value fund lumpsum = 80000 5) reliance tax saver fund sip 11000 p/m= 3.6lacs 6) icici long term equity fund sip 9000 p/m = 1.75lacs I have Pf of 15 lacs and wife having Pf of 2.5 lacs. I have a mediclaim of star health of 3 lac sum assured. i have fd in bank account of 95000rs on my name and 45000 rs on my wifes name.which changes do you like to make in my investents?
What is the time horizon of your financial goal?
my age is 35 yrs and wifes age is 29 yrs both are working government employees
I have a 4 yrs son.
Then dump all funds. Do asset allocation between debt and equity in the ratio of 60:40. For debt, use ultra short term debt funds or short term gilt funds. For equity, retain only ICICI Pru Bluechip and HDFC Midcap. If you need tax saving, then use Franklin India Tax Shield or use the same ICICI Long Term Equity Fund.