Have I invested in best performing mutual funds for my goals

Making 3 buckets to track your goals is a good idea. However, let us see if you have got the SIP amounts right for achieving the respective goal amounts.

1. 2 Crores needed after 30 years - You need to save Rs 6,200 and not Rs 5,000 (as mentioned by you) for next 30 years. This is assuming 12% annual returns.

2. Children education and marriage - You need Rs 80-90 Lakhs after 15-20 years. Please note that to achieve this goal (Rs 90 Lakhs), you need to save Rs 18,000 per month for 15 years or Rs 9,300 per month for 20 next years. Assumed return is annual 12%. Here again your assumptions of monthly savings amount is not correct.

3. Short term goal - Rs 3 Lakhs needed after 3-4 years. You need to save Rs 6,900 per month for 3 years or Rs 4,900 per month for 4 years to achieve the goal of Rs 3 Lakhs in the respective years. Assumed annual return is 10% as you will have to invest in debt funds (equity funds are not suggested for goals with less than 5 years horizon).

You have also proposed to invest in too many schemes. For example - you want to invest Rs 1,250 each in 4 schemes to invest Rs 5,000 per month for your goal no. 1. This is not the right approach as you should invest only in few good schemes instead of too many. This will again create a problem whenever you try to monitor/ review the individual scheme performances.

Here are our fund suggestions. Please select funds based on your risk profile especially the equity funds.

Large Cap funds - you can consider to invest in SBI Bluechip Fund, Birla Sun Life Frontline Equity Fund and Kotak Select Focus Fund. This is ideal if your risk profile is moderately high.

Diversified equity funds can be considered if your risk profile is high. Birla Sun Life Advantage Fund, Mirae India Opportunities Fund and SBI Magnum Multi-Cap Fund are some of the good funds in this category.

Mid and small cap funds - You can consider investing in Mid & Small Cap Funds provided you can tolerate high risk. Mirae Asset Emerging Bluechip Fund, Birla Sun Life Pure Value Fund, Reliance Small Cap Fund and L&T India Value Fund are good funds in this category.

ELSS Funds - These funds carry high risk. Birla Sun Life Tax Relief 96 Fund and DSP BlackRock Tax Saver Fund are two good ELSS Funds.

Debt Funds - ICICI Prudential Long Term Fund and UTI Dynamic Bond Fund can be considered for 3 years investment horizon.

Hope you find our suggestions helpful and using the inputs can plan your goal well.

Thanks for writing to Advisorkhoj.