I am 42, an NRI Engineer and my monthly saving is Rs.2 lakhs that I want to invest properly.
My current investment is as follow:
1.40 lakhs in mutual funs invested so far in mutual funds via SIPs
2.5 lakhs in gold
3.5 lakhs to relative with 1% interest
4.25 lakhs in NRE FD with interest rate of 3-4%
5.PPF- Rs.3.5 lakhs
6.MIS total Rs.5 lakhs
Currently investing one lakhs per month, Via SIP in the following mutual funds.
(10,000 X 10 funds = One lakhs per month)
1.Reliance Regular Saving Equity
2.Birla Sun life frontline Equity
7.Birala Sunlife Mid cap fund
8.Birala Sunlife 95 Fund
9.IDFC Premier Equity Fund
Please guide me for the following.
1.About asset allocation
2.Selection of funds
3.Where I should invest my remaining saving of Rs. One lakhs per month? I don’t need any money for next 6 years.
4.For debt investment, as an NRI what options are best – MIP? Debt funds?
Regards and I am really poor at finance
The way you have invested so far tells me that you are not poor at finance.My thoughts:
1.Invest around 25% of total assets in property.around 50-100 lacs.
2.reduce mutual fund allocation & liuidate the FD i.e. take out money for property investment.
3.pls have a few insurance poilices (endowment & money back) avoid ulip.May go for single premium policies.
4.Your fund ALLOCATION SHOULD BE:
B.Mutual funds 25%
F.cash 10%(incl loan to relative)