Money9 Helpline | Resolving to set a right strategy for your investment plan

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From tips on building an emergency fund to choosing the right investment tools, Money9 Helpline is an attempt to help you in your financial journey. The handling of money is not an easy task, especially with the Covid-19 pandemic, it has become much more daunting to manage your budget and finances.

At Money9, our endeavour has always been to help you navigate the financial challenges and possibly soften the impact of external events on your wallet.

Money9 Helpline hosted Pankaj Mathpal, CEO, Optima Money Managers, and a Certified financial planner to address the financial queries of our callers from across India.

Here’s a look at some queries:

Avishek Dey, Kolkata: I have invested in NPS, PPF, NSC & FDs. Amidst the second wave of Covid-19 should I start investing aggressively in MFs? Also, is it better to invest in ELSS than in FDs?

Pankaj: Yes, you should include equities in your portfolio and mutual funds will help you in this case. ELSS is also a kind of mutual fund only, so you can consider investing in that. For tax-saving purposes, ELSS is a good option. But if you have exhausted the window of Rs 1 lakh, then don’t opt for ELSS instead invest in open-ended schemes in a staggered manner.

Abhidipta Mukherjee, Kolkata: I started my career two years ago. Should I start my investment journey through Fds or MFs?

Pankaj: You should make investments depending upon your goals and objective. I would suggest that first keep an emergency fund for financial security. For that, you can start a fixed deposit. Once that emergency corpus is maintained you can consider investing in SIP in equity-oriented mutual funds. Based on your income, you can start a SIP of Rs 4000/5000/10,000.

Upendra Sharma, Indore: I built 50% of my MF portfolio during the market fall in Mar-Apr 2020. Currently, I am at 30 % appreciation. Is it the right time to book a profit on my portfolio & invest in a pharma fund?

Pankaj: Yes in today’s time pharma sector is showing a lot of growth, the whole healthcare sector is experiencing a boost. But you should invest only 10% of your portfolio in sectoral funds.

To know more, watch the full show