I am 26 and the only earning member in my family. I save Rs 20,000 every month and my parents live with me. I want to start investing in mutual funds from which I can withdraw money in case of emergencies. Kindly suggest funds that I can invest in. -Anil Shenoy
If you are the only earning member and your parents depend on you financially, you must take adequate life insurance cover in the form of a pure term insurance plan to protect your dependents of financial shocks in case of your death. You have age on your side and should consider investing equally in the suggested portfolio of five funds which has 70 per cent equity exposure. Collectively these funds offer you diversity and are made of good performing funds which have a proven track record and history. Make sure you invest regularly in these and track its performance at least once a year for any changes in holdings if need be.
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This article was originally published on July 14, 2011.
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