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.

Dolores W. Simon