Need Advice

[chatting.enabled]

Hello,

I stay in Mumbai and I want to raise some money for paying downpayment of my house after 3 years, which would be around Rs.4 lacs.

I can contribute Rs.5000 monthly.
Can you please suggest how do choose the right mutual fund / SIP?

Do you think that Rs.5000 is very less amount ?


Thanks in advance.

 

[rajivnc]

Hello,

I stay in Mumbai and I want to raise some money for paying downpayment of my house after 3 years, which would be around Rs.4 lacs.

I can contribute Rs.5000 monthly.
Can you please suggest how do choose the right mutual fund / SIP?

Do you think that Rs.5000 is very less amount ?


Thanks in advance.

Making 4 lakh with 5k/month after 3 years is NOT possible. To satisfy that you need to get 95% compound interest per annum and hence not possible. Indian equities used to give 18-20% return in the long run [>5 years].

In your case either you have to increase the monthly SIP or the You have to wait for more number of years.

With a SIP of 10,000 / month @ 18% its possible to raise 4 lakh in 3 years.

With a SIP of 5,000 / month @ 18% its possible to raise 4 lakh in 5 years

 

[chatting.enabled]

Making 4 lakh with 5k/month after 3 years is NOT possible. To satisfy that you need to get 95% compound interest per annum and hence not possible. Indian equities used to give 18-20% return in the long run [>5 years].

In your case either you have to increase the monthly SIP or the You have to wait for more number of years.

With a SIP of 10,000 / month @ 18% its possible to raise 4 lakh in 3 years.

With a SIP of 5,000 / month @ 18% its possible to raise 4 lakh in 5 years

Thanks for you reply.
Can you please suggest me some funds.
Or probably some internet source which can guide me well.

 

[rajivnc]

Thanks for you reply.
Can you please suggest me some funds.
Or probably some internet source which can guide me well.

You can get more informations at
http://mytipstowardswealthy.blogspot.com/

 

[chatting.enabled]

You can get more informations at
http://mytipstowardswealthy.blogspot.com/

Thanks a lot for the link.

I also have cash reserve of Rs.50K. Where should I put that in Gold ETF or FD?

Kindly advice.

 

[rajivnc]

Thanks a lot for the link.

I also have cash reserve of Rs.50K. Where should I put that in Gold ETF or FD?

Kindly advice.

First of all you should have an "Emergency Fund". That you can put in a saving account with Auto Sweep facility enabled. As per financial experts the Emergency fund should be atleast 6 time your monthly salary.

If this 50K is some thing you saved other than emergency fund + any pending insurance premium for this financial year, then no need to put that in FD. Just add that into your monthly MF SIPs.

You can also start investing in Gold ETF upto a maximum of 10% of your entire portfolio. For that you need to have a demat account.