I am 30 years old. My goals are as follows:
For child’s higher education: Rs 60 to 70 lakhs after 20 years.
For child’s marriage: Rs 1.5 crore after 25 years.
For my retirement: Rs 2 crore after 30 years.
My current investment are:
PPF: Rs 3.5 lakh
Mirae Asset Tax Saver Fund: Rs 7,000 per month.
I can invest extra Rs 15,000-20,000 per month.
MS Shabbir, founder and managing director of SenSage Financial Services, responds:
The information provided by you is not sufficient and your goals are also not realistic. I assume you have only one girl child and you would like to plan for her education, marriage and your retirement.
It seems, you have taken the present cost for your future goals.
An initial investment of Rs 3.50 lakh in PPF and a monthly SIP of Rs 7,000 will not suffice for achieving any of your goals. At an aggressive growth rate of 8 per cent in PPF and 12 per cent in mutual funds, you will not be able to accumulate more than Rs 35 lakh in the next 20 years.
Please consult an investment advisor, who will be able to help you with realistic goal planning. You will need to reduce your goal amounts or share information of your investments in other asset classes to help you.