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Am I going in right direction for achieving my financial goals

Need your advise, I'm 39, just started investing in NPS for overall 2 Lacs Per Annum for my retirement purpose. Scheme Preference - Moderate Auto Choice SBI Pension Fund Scheme C - Tier I (Corporate Bonds) - (27.00%), SBI Pension Fund Scheme E - Tier I (Equity) - (44.00%), SBI Pension Fund Scheme G - Tier I (Government Securities) - (29.00%); and I have other long term goals like kids, marriage, education coming up in 10-20 years. So I decided to do some SIP around 10k for the below categories funds like Balanced - 60%, 10% Large Cap , 20% Diversified, 10% Mid and Small Cap. Please suggest whether I'm going head for right direction?

Mar 27, 2017 by Syed, Bangalore  |   Financial Planning

By investing in NPS, you have opted for a safer and low cost retirement planning instrument.

With regards to your other goals, you have mentioned doing Rs 10,000 SIP per month. But have you figured out if this amount is good enough in achieving your long term financial goals like kids higher education and marriage?

Our suggestion is that you should first know when you need the goal corpus and what is the future value (inflation adjusted amount based on current cost). Once you know this, you can plan how much monthly SIPs need to be taken in order to achieving all of these goals as and when they come.

Hope the above helps! Thanks for writing to us!!

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