Publication details: Money Manager – CNBC Bajar – 19-11-2015
Responses, opinion and view from Kartik Jhaveri.
Question sent by Prakash Dasa:-
I am 27 years old, married, and have no children.
I am investing Rs. 2,000 per month in Reliance Growth Plan and I can invest Rs. 8,000 per month more. Where should I invest this much amount? Should I go for SIP, if yes which one? And if in share market, then how should I begin as I have no experience in investing in share market.
Also please throw some light on retirement planning. Is this the right time for it?
Advice given:
1. Investing in equity via mutual funds is a good option.
2. Currently you are doing an SIP of Rs. 2,000 & want to do Rs. 8,000 additional. Suggest you do in the following manner:
- 60% in diversified funds.
- and 40% in midcap funds.
- Thus continue the ongoing SIP of Rs. 2,000. And from the additional Rs. 8,000, deploy Rs. 2,000 towards midcap.
3. It is advisable to start retirement planning as soon as possible. As you have not mentioned any other financial goals, you can earmark the above SIP investment towards retirement.
4. It is suggested you step up the SIP amount on an annual basis.
