I have started a SIP one and half year ago in Aditya Birla sun Life Tax Relief’96 Fund- ELSS- Growth DIR with amount 1500
and started SIP with Mirae asset emerging blue chip fund with 2000 couple of months ago. Can you please suggest if this is the right combination or any other changes required.
Both the SIP’s i have kept 3 years as minimum.
What is your holding period? How you chosen these funds? What is the asset allocation you are following?
Holding period for ABSL – 3 years
Mirae asset – 3 years for now but i will increase the installments
i have chosen ABSL with idea of Tax saving and also for long term investing with smaller amounts
Mirae asset – I choose with specific long term goal
Asset allocation – No specific idea on this. Please guide
First rule, never enter equity if your holding period is less than 5 years.
ok… if i am ok to hold both the SIP’s for more than 5 years is the above combination is fine or i need add/remove anything. Need your suggestion in this please
First decide when you need the money or when is your goal. Don’t change strategy just because I said don’t enter into equity if goal is less than 5 years.
Thank you.. i was not knowing that SIP also matters for more than 5 years hence its 3 years earlier. As i got to know now that it should hold more than 5 years hence thought to continue for my kids education its not cos you have said.. Thanks for the answer. I have a query on LIC policy too, is it ok if in the same question or different one, Please suggest.