Is my mutual fund selection fine for achieving goals

Respected sir, Thanks for your warm response and valuable suggestions. Sir as per your suggestions, I gone through the schemes and its risks also, but I can take high risk and at the same time I want a complete portfolio which includes a diversified fund, Balanced fund, Mid& small cap fund and Income fund. so, as per my requirement I want to take your suggestion once again to make my financial life fruitful sir. My salary package as on date: Rs. 6 Lakhs per annum, 2) EPF balance as on date 2 Lakhs, 3) Emergency fund I kept in SBI as OD against FD worth Rs. 1 Lakh 4) Term policy worth Rs. 75 Lakhs (Kotak - 25 Lakhs, Max life - 50 Lakhs) out of which I have paid annual premium of Rs. 8,500. Policy tenure up to 60 years. 5) Housing loan in HDFC for Rs. 20 Lakhs and paying monthly EMI as Rs. 20,000. 6) Investing MF in SIP mode (Monthly Rs. 2000) for tax benefit in SBI Tax Gain Scheme only. Still I don't have any financial planning but now I am aware of these things and financial goals are as follows 1) Retirement planning: my expenses as on today is Rs. 20,000 and I am going to retire in 60 years of age - For this one can I choose Diversified Equity fund - ICICI Pru Value Discovery Fund 2) Kids Marriage: After 20 years I expected to do marriage for my kids and need 10 lakhs as on today exp - for this one HDFC Balance Fund can I choose sir? 3) Kids Education 8 lac as on today exp - for this one DSP BlackRock Microcap fund can I choose sir? 4) After 3 years I need 300,000 for abroad tour - for this one can I choose ICICI Prudential long term income fund sir? I can invest Rs. 15,000 pm in complete portfolio (Diversified+balanced+mid& small cap + debt funds). Please suggest me sir whether my perception is correct one or not? Thanking you sir. Your earliest and Heartful reply is highly awaiting sir?

Jan 9, 2017 by Sunil Kumar, Chennai | Mutual Fund

We replied to your earlier query in details and posted in our query section. You can check that https://www.advisorkhoj.com/post-your-queries...

While we are not responding again for the part replied earlier, we are responding only to the part which is new in this query.

1) The fund selected, ICICI Prudential value Discovery, for your retirement planning is fine.

2) Selection of HDFC balanced fund for children marriage goal after 20 years, can be replaced with HDFC Mid Cap Opportunities Fund. This is simply because mid and small cap fund can be the best return generator in the long term.

3) Selection of DSPBR Micro Cap Fund for meeting kids education after 8 years is also a good choice.

4) ICICI Prudential Long Term Fund for funding your foreign trip after 3 years is also fine.

You can start SIP in all the above funds and stay invested for the long term. One word of caution though, you must monitor your mutual fund portfolio once every year and review if the fund performances are in line with your financial goals.

Overall your perception about the financial plan and selection of fund is good : )

Hope the above helps: ) Thanks for writing to Advisorkhoj.

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