Increasing your savings along with a rise in income helps meet goals

The funds which can be invested for the long-term should be allocated to public provident fund and MFs

Surya Bhatia
Published6 Nov 2018, 09:29 AM IST
Photo: iStock
Photo: iStock(iStock)

I am 30 years old and planning to get married after two years. My annual income is about 7.2 lakh and my house rent is around 1.15 lakh per year. How much should I invest and in what forms (SIP, FD, PPF etc.) to create a portfolio which would give me better returns?

I am 45 years old and investing 3,000 each through SIPs in ABSL Tax Relief’96, Motilal Oswal Long Term Equity, ABSL Equity Advantage, ABSL Frontline Equity, Mirae Asset India Equity and Kotak Standard Multicap; 4,000 in HDFC Hybrid Equity and 5,000 in Motilal Oswal Multicap 35. My goal is to build a corpus for retirement and I want to accumulate at least 1.50 crore. Are these funds good or should I switch to others? Please advise.

You currently have monthly investments of 27,000 in eight mutual fund schemes. The schemes are spread across hybrid, large-cap, large-and-mid-cap, two ELSS funds and three multi-cap funds. While the fund selection is good and the portfolio is also diversified, the exposure in ELSS as well as multi-cap funds can be reduced by a fund each. You can add a mid-cap/small-cap fund to the portfolio to complete the diversification. NextMAds

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