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Where should you invest?
Your income tax would be in the range of Rs 25,000 per annum. Studying your commitments, I estimate you will have Rs 7,000 to Rs 8,000 per month surplus after managing expenses and Section 80C deployments.

Use the Systematic Investment Planning (SIP) route to invest into diversified equity mutual fund schemes. If you invest Rs 8,000 per month, you are likely to amass Rs 54 lakh (assuming a return of 15 per cent on equity investments) in 15 years. If you get a bonus or a hike, you could also invest in some bluechip companies. Follow this basic discipline and you will have amassed a sizeable quantum in the next 15 years.

Read: Get rich, SIP by SIP

I also believe that the Section 80C investments you are doing to save tax will help you meet the financial objectives of education and wedding for your daughter.

Find out: How much you need to invest with our compounding tool

Disclaimer: The concept “I want a Plan” and contents above are the intellectual property and copyright of the author, Kartik Jhaveri. No part may be used or reproduced in any form or manner. If you choose to act upon the information contained in the above article it is at your own risk. This article is purely educative and you are strongly advised to consult an expert prior to taking any significant decision.