Financial planning for first-time employees and freshers

• Follow

It is challenging to take the first step towards investing for someone who has just begun their career. Money9 Helpline hosted Priyanka Ketkar, Director of Purplefinch to help you understand on what basis should first-timers do financial planning.

Edited excerpts:

Santu Mondal: I am 32 years old, my salary is Rs 62,400. I put Rs 37000/month in UTI nifty index fund and Rs 4000/month in PF. The current value of my equity portfolio is Rs 16.8 lakh and the debt is Rs 4.8 lakh. As per my goals, I have set a time frame for each, retirement- 2048, child education- 2037. Please review my portfolio

Ketkar: You have kept a good amount in your portfolio. Equity is the right asset class for you. As your income increases, you should also increase your investment.

Arun Singh: My wife’s portfolio is Rs 2.5 lakh FD for emergency, Rs 2,000 SIP ICICI Pru Nifty Next 50 Index Fund, Rs 2,000 SIP Kotak Emerging Equity Fund, Rs 2,000 SIP Mirae Tax, 1,000 SIP S&P 500. Please review for the 20+ year horizon.

Ketkar: Overall its is diversified, but I cannot see allocation in a small cap. So you should also include small-cap in your portfolio. your time horizon is also good.