Will my current investments help me meet financial goals?

1 min read 29 Jul 2022, 12:20 AM IST Join us

Vishal Dhawan

It would be ideal if you could consolidate your portfolio with investments in one ELSS fund for tax savings like the HDFC Tax Saver Fund, and regular investments in schemes like the Mirae Emerging Bluechip Fund, Kotak Emerging Equities Fund and an international fund like ICICI US Bluechip Fund.

For the other schemes in the portfolio, you could consider gradually consolidating the above-mentioned schemes over a period of time so that you have a more focused portfolio. (Mint) — For the other schemes in the portfolio, you could consider gradually consolidating the above-mentioned schemes over a period of time so that you have a more focused portfolio. **(Mint)**

I am a 26-year-old government employee and save ₹50,000 per month. I plan to buy a house and car in the next few years. I also need to save for my sister’s marriage which could happen in the next 8-10 years. I am not eligible for pension in my current job, but want to invest in a pension plan that will fetch me ₹1 lakh per month.

I have a systematic investment plan (SIP) in several growth funds since January 2018. I am also putting in ₹5,000 per month in a public provident fund since December 2020.

In April 2021, I started investing in NPS (National Pension System) with monthly deposits of ₹5,000 in Tier 1 Account Moderate Auto Choice associated with HDFC Pension Fund. In December 2021, I also added a couple of funds to my portfolio for international exposure.

Please tell me if my investments are suited to my goals and suggest any changes if necessary.

—Name withheld on request

Considering that you have multiple goals that you are trying to save towards, while it is wonderful to do SIPs at a young age, the savings that you need per month will be significantly higher than current levels and thus, as and when your salary increases, your SIPs will need to increase proportionately.

It would be ideal if you could consolidate your portfolio with investments in one ELSS fund for tax savings like the HDFC Tax Saver Fund, which has done well in the recent past after a period of underperformance, and regular investments in schemes like the Mirae Emerging Bluechip Fund, Kotak Emerging Equities Fund, Axis Small cap fund and an international fund like ICICI US Bluechip Fund.

For the other schemes in the portfolio, you could consider gradually consolidating the above-mentioned schemes over a period of time so that you have a more focused portfolio.

Vishal Dhawan is a certified financial planner and founder of Plan Ahead Wealth Advisors, a SEBI registered investment advisory firm

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