Will these mutual funds help me to fund my child’s education, marriage

Will these mutual funds help me to fund my child’s education, marriage

Invest in MF

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

Reliance Retirement Fund – Wealth Creation Scheme-Growth ★★★★★
THINGS YOU SHOULD CONSIDER

  • Annualized Return

    for 3 year: 5.41%

  • Suggested Investment

    Horizon: >3 Years

  • Time taken to double

    money: N.A

Kotak Standard Multicap Fund Regular-Growth ★★★★★
THINGS YOU SHOULD CONSIDER

  • Annualized Return

    for 3 year: 9.71%

  • Suggested Investment

    Horizon: >3 Years

  • Time taken to double

    money: 3.7 Years

Mirae Asset Tax Saver Fund: Rs 7,000 per month.

I can invest extra Rs 15,000-20,000 per month.
–Hitesh Agrawal

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.

[“source=economictimes”]