I am 28, married, and with no kids. I started investing in systematic investment plans (SIPs) in November 2014 as follows: Rs.2,500 in ICICI Pru Focused Bluechip fund, Rs.3,500 in UTI Equity, Rs.2,000 in Franklin Flexi Cap and Rs.2,000 in HDFC Mid Cap Opportunities. I also made one-time investments in the following funds during market dips (2015-16): Axis Equity-growth (Rs.10,000), Axis Long-term Equity for tax saving (Rs.70,000), and ICICI Prudential Value Discovery (Rs.10,000).
I also invest in Public Provident Fund (PPF) and PF. I also have a term plan. I wish to increase my SIPs to Rs.40,000. My wife also intends to start investing an additional Rs.3,000 per month. I have no specific goals but I am looking at 10-12 years’ horizon for the MF investments.
Am I on the right path? I can bear medium risk while my wife prefers medium to low risk.
—Tapas Ruparelia
You’re doing well. A term insurance to cover life risk and regular SIPs to take care of future are the foundations for a healthy financial life.
