Is my mutual fund portfolio aligned with my long term goals

I am a school teacher. My yearly income is about 5.5 Lakhs. I invest 2500 in Axis Long Term Equity, 2500 in Franklin India Taxshield, 2500 in Birla Sun Life Tax Plan 96, 1000 in ICICI Prudential Value Discovery, 1000 in Birla Sun Life Dynamic Bond Fund, 2500 in Birla Sun Life Short Term Fund, 1000 in HDFC Balanced Fund. Is my selection of funds good for wealth creation. I am 33 years old, my daughter is of 7 months old. I want to accumulate money for her education, marriage, and for my retirement. Please suggest?

Dec 19, 2016 by Sukanta Mukherjee, Kolkata | Mutual Fund

The Mutual fund schemes you have selected for monthly SIPs are all okay. The only suggestion is that if you are investing in these funds for achieving your long term goals like, retirement, children education and marriage etc. then why invest in a short term debt fund?

Instead of that you can increase allocation to either the long term income fund or balanced funds.

Also, you must plan your goals with future cost of each of the goals in mind. Your investments in mutual funds or other products should be in accordance with the same.

You may check the future value of your goals based on their current cost from this tool https://www.advisorkhoj.com/tools-and-calculators...

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

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