I am 30 and want to investment Rs 3000 every month for the next 20 years. I also plan to increase my investment once I gain confidence with investing. Please suggest the approach to investing.
- Debabrata Chakrabartty
As this is your first mutual fund investment, we would suggest you go with a balanced fund to start with to experience mutual fund investing and understand how your investments grow over the next six months. You can start investing in funds such as HDFC Prudence or Reliance Regular Savings Balanced fund. This experience through SIP investments will give you an idea of mutual fund investing. You can later move to a large-cap fund such as Franklin India Bluechip or DSPBR Top 100 Equity.
Investing through SIPs in mutual funds is the best way to invest for the long-term t benefit from systematic disciplined investing and the power of compounding.
This article was originally published on June 14, 2011.
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