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How to save for my marriage and start own business goals

I have queries regarding investment. My age is 28 years. I am currently in a contractual job in abroad for 1year(extendable). I have 2 goals for future. First one is saving for my marriage in 2years and 2nd one is fund for my start up business plan in next 6 years. In what type of mutual fund do I invest or any other investment plans?

Apr 12, 2017 by Anup, Ryadh  |   Financial Planning

As your marriage goal is only two years away, you can save the investible surpluses in short term income fund either through SIP or in lump sum as and when funds are available. You can choose a short term fund from this section on our website https://www.advisorkhoj.com/mutual-funds... As you can see Birla Sun Life Short Term Plan and HDFC medium Term Plan could be good choices.

With regards to your saving for starting your own business, you have a 6 year long horizon and therefore you can take a bit of risk and invest in large cap equity mutual funds. You can choose a top performing large cap fund from this section on our website https://www.advisorkhoj.com/mutual-funds... As you can see SBI Bluechip Fund, Birla Sun Life Top 100 Fund and DSP BlackRock Focus 25 Fund could be good choices. You can save for this goal ideally through monthly SIP route. You can also set a goal as to how much you want after 6 years in order to start your own business and then start the desired monthly SIP amount – check this tool https://www.advisorkhoj.com/tools-and-calculators/become-a-crorepati

Hope the above plan helps you. Thanks for writing to us.

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