Is my fund selection for long term planning right

1. The funds you have selected for your monthly SIPs are good. You have selected good schemes from large cap, diversified, mid & small cap and balanced fund categories and could be a good fit for your long term investment goals.

2. The selection of two ELSS schemes are also good and note that both have aggressive portfolios. But considering your age you may continue to remain invested.

3. HDFC Balanced fund is a top performing fund in the balanced fund category and most suitable if you have a 5 years+ investment horizon.

4. You have stated various financial goals, like child higher education, their marriage and your retirement planning. But naming the goals is not enough, you should know the future value of these goals and start investing for each of them in order to achieve them as and when they need to be achieved.

5. After you have calculated the future value of these goals, align them with your current mutual fund investments! You may find some help from here - https://www.advisorkhoj.com/tools-and-calculators/future-value-calculator and https://www.advisorkhoj.com/tools-and-calculators/composite-financial-goal-planner-calculator

6. Once you known your various financial goals and aligned the investments with it, all you have to do is monitor them regularly and check if they continue to be aligned with the stated investment objective.

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