Where should I invest to meet my goals of 5, 7 and 10 years?

I am 40 years old government employee with a monthly salary of Rs 38000 and I want to invest Rs 3000, Rs 3000, Rs 4000 in mutual funds for five, seven and 10 years, respectively. Where should I invest for the growth purpose and maximum returns. I am completely new in this field. Please suggest.

--Kiran Dwivedi Pandey

Since you have an investment horizon of over five years, you can consider investing in equity mutual fund schemes. It is better to invest in equity schemes to fund long-term financial goals because they have the potential to offer better returns than other assset classes. If equity schemes are held for more than a year, the returns are tax-free.

Here is the link to our recommended SIP equity mutual fund portfolios. Take a look at it and choose a portfolio that matches your risk profile. You can invest the entire money in this portfolio and manage your withdrawals by selling adequate amount of units to meet your goals. If you want to invest separately for each goal, you can do so by starting SIPs for each goal.


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