It is fine to save, invest with no goal in mind

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I am 28, and have not set any investment goal. I only want to grow wealth and am looking to invest another 10,000-15,000 per month in equity funds and 5,000 in debt funds. Should I add to current SIPs or add new funds, or should I rebalance the existing ones and by how much?

—Abhishek Soni

 

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It is perfectly fine to save and invest without a specific goal in mind. However, not knowing the funds that you are currently using for your SIP, I can only offer some broad guidelines and ask you to ensure that your portfolio adheres to these. First, please choose the right asset allocation. For your long-term portfolio, an asset allocation that is heavy on equities would be fine. The rest can be in debt with some gold. Second, in the equity segment, cover the market breadth efficiently with allocation to large, mid and small-cap sectors.

Third, in the large-cap segment, choose passive, index funds over managed funds. And, fourth, have an international allocation.

Srikanth Meenakshi is founder, Primeinvestor.in.

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