Hi Pankaj,
I'm currently investing a SIP of 2000 each in the following: DSP Blackrock Eop 100 Equity fund, HDFC Top 200 fund, HDFC Equity fund and IDFC Premier Equity fund. Now I want to have a new SIP for our newborn baby. Could you please suggest some good options for the same.
I don't want to invest in any tax saving scheme as I already have the 80C deduction for my home loan principal amount.
Thanks, Nitin
As its a newborn child, you would not need big amount back for him before atleast 15-16 years from now (for higher education).
There is no need to pick separate plan for child. You can continue investing into equity based mutual funds as ultimately you want to maximize returns in long term.
If you want to some safety to your portfolio, you can add balanced mutual funds (HDFC Prudence/Balanced fund) or you can deposit amount in PPF account. Even without tax benefits, PPF is good investment as returns are tax free.
If not taken already, please get a term insurance too for a sum assured atleast 10 times your annual income (plus any outstanding loan amount).
