5 top mutual funds to start SIPs for spouse’s retirement
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We typically recommend multi cap schemes to equity investors with a moderate risk profile. Multi cap schemes have the freedom to invest across market capitalisation and sectors based on the outlook of the fund manager. These schemes are considered ideal for investors looking to grow wealth over a long period without too much risk. They are riskier than large cap mutual funds, but a lot less riskier than mid and small cap schemes.
Here are our recommended multi cap mutual fund schemes: Best multi cap mutual funds to invest in 2019
Do not start SIPs in five schemes. Since you are investing a modest amount, you can invest in one or two schemes.
Finally, do not go on investing Rs 5,000 to create a retirement fund for your wife. You should increase the investment in line with hike in salary so that you have a sizeable amount to take care of your wife’s living expenses after retirement. Also, try to quantify the living expense, provide for annual inflation, and look at taxation of proceeds from your investments to reach a realistic target for the retirement kitty.