How much money should I invest for my daughters education Lal, 20 Nov 2012

I am 36 and my salry is 60,000/month. I save around 30,000/month.I have one daughter studying in 8th standard. I want to save around 3 lacs for my child's education and 60 lacs after retirement. How much should I save and where should I invest?

Fintotal Answer

We appreciate you for your savings percentage. It is very good lifestyle as a family you are maintaining. Maintain the same. You must put about 40% of your savings in income assets (FD, RD, PF, etc) and about 60% in growth assets (MFs, Gold MFs, etc.). For all your long term financial goals such as retirement, daughter's education, etc. invest in one of the best equity diversified mutual funds and hold it atleast for 5 years. You will have phenomenal wealth. Read Mutual fund page on our website.

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