Best monthly investment - Suggestions needed

[bastinraj]

Hi All,

I'm Bastin. This is my first post in this forum.

I'm in need of advice and suggestions for best monthly investment plan.

I earn around 28,000 per month and i can save around 5,000 every month. So, I planned to invest 5,000 everymonth. I searched some websites and finally landed here.

I could see that the best monthly investment plan for long term is SIP(please correct me if I'm wrong). Is it worth investing in SIP for long term, say around 10 yrs? If yes, could you guys please suggest some mutual funds that are doing good at the moment.

If there are anyother better monthly investment plan please suggest that too.

I know there are many experts in this forum. Your guidance and advice will be much appreciated.

Many thanks,
Bastin.

 

[comm4300]

Hi All,

I'm Bastin. This is my first post in this forum.

I'm in need of advice and suggestions for best monthly investment plan.

I earn around 28,000 per month and i can save around 5,000 every month. So, I planned to invest 5,000 everymonth. I searched some websites and finally landed here.

I could see that the best monthly investment plan for long term is SIP(please correct me if I'm wrong). Is it worth investing in SIP for long term, say around 10 yrs? If yes, could you guys please suggest some mutual funds that are doing good at the moment.

If there are anyother better monthly investment plan please suggest that too.

I know there are many experts in this forum. Your guidance and advice will be much appreciated.

Many thanks,
Bastin.

With the expenses and exit loads on Mutual Funds, you are better off opening a demat account and investing in Index ETF.

SIP in MF can be automated. However, for Index ETF SIP is something to be done manually - i.e every month on x date you'd have to purchase manually for the said amount you wish to save.

Moreover, a recent report from CRISIL showed that most diversified MFs under performed the INDEX returns.

Either way, you stand to gain. the sooner you start the better.

all the best.

 

[bastinraj]

First of all i would like to thank you for your suggestion.

To be honest, I'm a novice here. I really don't know what an ETF is.

It would be helpful if you could throw some light on it.

Pardon my ignorance.

Thanks,
Bastin.

 

[rvm123]

ETF is exchange traded funds. They are basically mutual funds and include GOLD ETF's also. One more option is HDFC Bank has a scheme under which SIP for NIFTY based shares are available. In this scheme, if you opt for some shares, every month on the prescribed day, they will buy shares for the prescribed amount and credit to your demat account. You may explore this option also.