I am currently drawing a net monthly salary of ₹69,000. Out of this, I am paying an equated monthly instalment of ₹10,000 for a car loan. Besides, I am investing ₹8,000 in 4 Systematic Investment Plans (SIPs), with ₹2,000 each in Axis Bluechip, Parag Parikh Flexi Cap, ICICI Hybrid Fund, and Canara Robeco Emerging Equities. I am also allocating ₹4,000 for a gold scheme. I am now planning to add another ₹2,000 SIP in Mirae Asset Large Cap and want to invest an additional ₹2,000 in SIPs. Is this fine? Also, is the National Pension System (NPS) beneficial for me?
—Kumaran R.
It is always better to invest based on your financial goals. You have total SIP investments, including future allocations, of ₹16,000. Of this, you have a 25%, or ₹4,000, allocation to gold. Usually around 10% allocation is gold is good enough for long-term investing.
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