Please guide me if funds selected by me is alright and should I increase my SIP amount

I have the following MF SIPs (1000/- p.m.) at present. My age is 43 years, am a salaried employee with CTC 7 lakhs per annum. Please guide me whether to add some more or to quit or to replace. HDFC - Equity Growth, Balanced Fund. SBI - Magnum Mid Cap, Blue Chip, Banking and Finance. Franklin - Prima Plus, High Growth, Small Cap. IDFC - Prem Equity, DSP - Micro Cap. I can another 5000 pm in my portfolio. Please guide me?

Apr 5, 2016 by Susanta Sathua, | Mutual Fund

The funds you have selected is good but they are too many: Since you are aged 43, it is high time for planning for your retirement and other long term goals, if you have not done already. Therefore, your SIP investments should be linked to these goals. But before you link these SIPs to your future goals you should first figure out what is the amount you require on your retirement or for meeting the other financial goals? These calculator will help you in knowing that https://www.advisorkhoj.com/tools-and-calculators/retirement-planning-calculator and https://www.advisorkhoj.com/tools-and-calculators/composite-financial-goal-planner-calculator

This calculator will not only help you knowing your retirement amount and amounts to meet your other financial goals, it will also let you know the amount to be saved every month for reaching the respective goals. If you find that your current monthly SIP outgo does not match with the amount suggested by the above calculators then, of course you should increase the SIP amount to the extent of the monthly deficit (What you are saving currently minus what you should save).

For long term good SIP returns it is suggested to invest in Diversified Equity Funds. Please select a fund from the link below –

https://www.advisorkhoj.com/mutual-funds-research/top-performing-systematic-investment-plan

View All Queries

You haven't found the answer for your queries? Do post your queries to us.
POST A QUERY