If you wish to invest around Rs 2-3 lakh every year, term insurance can be a good idea if one goes for a high sum assured plan. However, for fulfilling a long term goal of children's education or while planning retirement, investment in equity can be a better bet, Pankaj Mathpal, Managing Director of Optima Money Managers tells CNBC-TV18.
Funds like DSP Blackrock Top 100 Equity Fund or HDFC Top 200 Fund, IDFC Premier Equity Fund or HDFC Midcap Opportunity Fund can significantly boost one's portfolio when planning for the long term, opines Mathpal.
When an investor is looking to maximize investments within a 5 year tenure, Mathpal believes SIP or STP can be of great help.
Below is the edited transcript of the interview on CNBC-TV18. Also watch the accompanying video.
Q: Can invest Rs 2-3 lakh per year. How should I allocate this money? I have three dependents and I am investing Rs 1-1.5 lakh in insurance every year.
A: He has two dependents and he has told what premium |
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