Retirement funds encourage consistent contribution and long-term investment strategies, according to Ajit Menon, chief executive officer of PGIM India Mutual Fund. "It nudges people to prioritise savings for retirement and reinforces commitment to achieving financial security."
Query 1:
I have invested in eight mutual funds. They are Rs 2,000 per month in SBI Contra Growth Fund and Rs 1,500 per month in Mirae Asset Large and Midcap Fund via SIP. I make a lump sum investment of roughly Rs 35,000 in the remaining funds on a monthly basis, depending upon the market corrections. What's better, one-time investment or SIP? Are the funds in my portfolio good or do I need to change any?
Name: Dilip | Age: 34 years
Prableen Bajpai: Your portfolio is fine. No more schemes to be added. You can invest the whole lump sum in an SIP. It will give you great returns.
Query 2:
I invest Rs 5,000 via SIP in SBI Magnum, Nippon India large and small-cap funds, and ICICI Prudential Equity and Debt Fund. I wish to buy a house worth Rs 1 crore and am looking to develop a good portfolio in the next 3–5 years.
Name: Sai | Age: 31 years
Prableen Bajpai: He needs to increase his SIP. All the four funds, which he is investing in, are good and they can be continued.
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