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How to invest for short and long term goals in a saving of Rs 12,000
Synopsis
If you have any mutual fund queries, message on ET Mutual Funds on Facebook. We will get it answered by our panel of experts.
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I am Trupti from Maharashtra. I want advice about investing money. My husband and I both are government employees. My salary is Rs 55,000 and husband’s salary is Rs 52,000. After calculating monthly expenditure, home loan EMI and other investments, my total balance is of Rs 12,000. We do not use my husband s salary. So, I want to invest the money but do not understand where to invest.
Synopsis
If you have any mutual fund queries, message on ET Mutual Funds on Facebook. We will get it answered by our panel of experts.
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I am Prashanth. I am planning to invest in Mutual funds. I am a beginner, but I have gone through all the information on how mutual funds function. I have defined my scope and horizon. I have both short term and long-term goals to fulfil. I want to achieve Rs 2-3 lakhs to fulfil short term goals within 1-2 years horizon and Rs 50 lakhs to achieve the long term goals which are over more than 12 years horizon. I am ready to invest a lump sum of Rs 1 lakh and SIPs thereafter. Suggest me on how I should allocate my money to various funds in my portfolio and recommend various funds (Equity, Debt, Hybrid) to start with. For now, I am thinking of going ahead with Parag Parikh Long Term Equity Growth Fund for long term goals. I earn Rs 60,000 net salary and have an EMI of Rs 25,000 to pay per month.