Where I can invest INR 7 Lahks ? Need advise.
I have roughly INR 7 lakhs in bank account which I need to invest. Initially I was thinking to keep it as my emergency fund but I am still confused if I should keep it as emergency fund. My current portfolio. MF: INR 4 Lakhs ( 50K SIP ) Stocks: INR 14.5 lakhs ( Msft vesting continues.. ) Rest is in PF, PPF, NPS: INR 13 Lakhs LIC : 5 Lakhs Some more info: 1. I have a credit card with Limit : INR 11 Lakhs 2. Term Insurance is already in place worth 2cr I have only my current salary in bank account and 7 Lakhs which was from my FD maturity. I am recently married and my wife is working making around INR 40Lakhs per year. No planning to have kids in near future but willing to take a home for us probably next year. Please advise! YOE: 6.7 TC: 45 Lakhs #finance #investments
Where does your wifey work ๐
Buy gold bro
More like SGB and not gold jewelry
Buy mid cap mutual funds with it, spread the purchase over next 2-4 months
If you have plan to buy a home. Save some more money for down payment and buy it.
so what do you recommend where to keep 7Lakhs should I lock them in FD ?
I will say yes for FD usually I wonโt say it but Indian stocks most of them have already moved. If you are planning to buy a house in less than 6months go for short term FD otherwise put them in MF. You can break your MF any time by paying 1% exit load.