Financial plan for ₹10,000 investment every month

[Qubit]

I’m starting to earn and want to invest ₹10,000 every month. Here’s my plan:

1. Emergency Fund: ₹1,000 in RD or liquid fund
2. Insurance:
   • Health: ₹1,000
   • Life: ₹1,000
3. Investments:
   • Large Cap Index Fund: ₹3,000
   • Mid Cap Fund: ₹2,000
   • Small Cap Fund: ₹2,000

Does this look like a good strategy? Any suggestions or improvements?

 

[BHAVESHKESWANI]

"Investment acts like elder brother in emergencies".

Kudos to you for deciding to make investments from your earnings.

It's Completely your call dear that how much amount to invest in different asset class..

As per my perspective, I can suggest you as follows:

1. Emergency funds: Liquid fund is Best
2. Insurance: Atleast 20x times of your annual salary for Term Insurance, and additinally, Health Insurance is also compulsory now-a-days.
3. Investments: Depends on your purpose that how much amount you require for different years.

 

[metal_heart]

Does this look like a good strategy?

First build your emergency fund along with your insurance sorted.
Then start investing.

Also, map goals to investment.
If you are just starting investing; I will not recommend small caps right away. Get the feel of market & understand risk. Establish discipline and then venture with more risk.

 

[Qubit]

"Investment acts like elder brother in emergencies".

Kudos to you for deciding to make investments from your earnings.

It's Completely your call dear that how much amount to invest in different asset class..

As per my perspective, I can suggest you as follows:

1. Emergency funds: Liquid fund is Best
2. Insurance: Atleast 20x times of your annual salary for Term Insurance, and additinally, Health Insurance is also compulsory now-a-days.
3. Investments: Depends on your purpose that how much amount you require for different years.

First build your emergency fund along with your insurance sorted.
Then start investing.

Also, map goals to investment.
If you are just starting investing; I will not recommend small caps right away. Get the feel of market & understand risk. Establish discipline and then venture with more risk.

Goal planning and making systems for investments are of great importance.
Thank you for the suggestions.

 

[SanthoshSomu]

"Investment acts like elder brother in emergencies".

Kudos to you for deciding to make investments from your earnings.

It's Completely your call dear that how much amount to invest in different asset class..

As per my perspective, I can suggest you as follows:

1. Emergency funds: Liquid fund is Best
2. Insurance: Atleast 20x times of your annual salary for Term Insurance, and additinally, Health Insurance is also compulsory now-a-days.
3. Investments: Depends on your purpose that how much amount you require for different years.

For emergency fund can i use RD to build?

 

[BHAVESHKESWANI]

For emergency fund can i use RD to build?

yes of course, you can go for RD option, if you are not interested in return rewards.. But I advise you should go for liquid fund option, as it gives more returns compare to RD

 

[zacobite]

I’m starting to earn and want to invest ₹10,000 every month. Here’s my plan:

1. Emergency Fund: ₹1,000 in RD or liquid fund
2. Insurance:
   • Health: ₹1,000
   • Life: ₹1,000
3. Investments:
   • Large Cap Index Fund: ₹3,000
   • Mid Cap Fund: ₹2,000
   • Small Cap Fund: ₹2,000

Does this look like a good strategy? Any suggestions or improvements?

well done.. good start.. good plan.. stick to it