Where should I invest to meet my goals?

I am looking to invest in mutual funds. I want to invest mostly for longer-term goals and some for short term goals. I have savings in LIC and PPF. My monthly salary is 40k. Please suggest.

--Dinu Chacko

We won't be able to suggest any schemes for you as you have not provided necessary details like your goals, investment horizon and risk profile. It seems, you are new to mutual funds. If so, you may consult a mutual fund advisor or financial planner.

Here are a few pointers:

One, list all your financial goals.

Two, do not just put a random or round figure for financial goals. Always work the real numbers and inflate it to account for inflation over the years.

Three, invest in safer options like bank deposits and debt mutual funds to achieve short-term goals.

Four, invest in equity mutual funds to achieve your long-term goals.

Five, keep your investment and insurance needs separate. For a life cover, always buy a pure term insurance plan. Always opt for mutual funds for investment purpose.