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How to invest my savings of 15000 per month. My Salary is 30000 per month

My age is 40 year, family of 4 members two kids age 16&9. My salary is 30k p.m. My saving is 15 k p.m. How to invest for future?

Mar 14, 2016 by Anand, Indore  |   Financial Planning

You have to start by defining your financial goals and quantifying it. Only when you clearly define your goals, can you plan your investments in order to achieve those goals. Some of your goals will be long term goals and some short term. For example, since you are 40 years of age, your retirement is 20 years away and therefore it is a long term goal. On the other hand, the college education of your older child is only 2 to 3 years away and therefore it is a short term goal. Please read our article, How to select mutual funds based on your investment needs: Part 1. It can help you in defining your investment goals.

In our article, How to select mutual funds based on your investment needs: Part 2, we have discussed how to construct a mutual fund portfolio based on your different investment goals. For example, for your long term financial goals like retirement planning, you can invest in diversified equity funds. For your short term goals, like you elder child’s college education you can invest in short term debt funds. The article also has links to other articles where we have discussed top performing mutual fund schemes in various categories. Hopefully, it can help you create a suitable mutual fund portfolio that can help you meet your financial goals. You should also consult with a financial advisor to discuss which mutual fund schemes will be most suitable for you.

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