Mutual fund plans: Which mutual fund plans should I choose for my daughter’s education and marriage?

My little girl is 3 years old. I want to save money for his higher education and marriage. My expected return is between 12 and 14% per year. I also want to create a corpus for his higher education (current value ~ Rs 20 lakh, future value – 50 lakh) and for his marriage (current value ~ Rs 40 lakh, future value ~ 1.45 cr) considering a rate of 6% inflation.
The duration of this investment will be approximately 15 years (higher education) and approximately 22 years (marriage).

Already started a SIP for his higher studies Rs 4,500 per month (actual need Rs 8,500) in the following funds:
bluechip-2000 axis
Parag Parikh flexicap-1000
PGIM Midcap-1000
small cap axis-500
Any Balanced Advantage Fund – 4000 (not started yet)

I would assume my risk category as a moderately high risk taker. To achieve his wedding corpus per month, one needs to save around 14000.

So my question here is can I use the same funds above with a gold mutual fund for her wedding as well, if so what would be the ideal percentage in each fund to achieve the goals? Or Should I start new SIPs with different funds since my objective and mandate are different?

–Jose Livingston

First, don’t assume your risk profile. Take a few online quizzes to find out your risk. It will also give you an idea of how your perception should not match your risk profile.

Second, once you’ve determined your risk profile, choose a plan that matches your risk profile. Don’t invest small amounts in too many programs. This will not help you achieve meaningful diversification. When investing a small amount, it is best to have one or two plans in your portfolio. Add more plans when you start investing a large sum.

Adding a gold program to your portfolio would mean the same thing. A small investment in gold is unlikely to provide stability or diversification. Even when you invest a higher amount. limit your investment in gold to 5-10%.

You can use the same patterns for both of your long-term goals. Provided that you regularly invest the required investments. You should try to save and invest more. Try to save at least 30% of your income. Also adopt an investment strategy based on objectives. You will have more financial goals in the future. This would be a useful strategy to achieve all of your financial goals.