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    Can I invest in Nippon India Nivesh Lakshya and Kotak Gold Fund?

    Synopsis

    If you have any mutual fund queries, message on ET Mutual Funds on Facebook. We will get it answered by our panel of experts.

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    I am 22 years old. My salary is Rs 25,000 per month. I would like to invest for my short-term goals like travelling and some family commitments. I am also looking to invest for long-term wealth creation. My horizon is 10 to 15 years. My monthly expenses are Rs 7,000. I am also giving Rs 10,000 to my family. Please suggest me the best investment plans for both my short-term and long-term goals.

    Should I invest in Reliance Nivesh Lakshya Fund and Kotak Gold Fund for my short term goals? Also, is P2P good for short term?
    --Nalin Kumar


    Vishal Dhawan, Founder, Plan Ahead Wealth Advisors, responds:

    Both the schemes, Reliance Nivesh Lakshya Fund (now, Nippon India Nivesh Lakshya Fund) and Kotak Gold Fund, are designed for long-term investments. Long-term bonds and gold can be volatile in the short term. For your short term goals, you can invest in a low duration fund like ICICI Prudential Savings Fund.

    HDFC Equity Fund-Growth ★★★★★
    Things You should consider
    • Annualized Return
      for 3 year: -0.35%
    • Suggested Investment
      Horizon: >3 years
    • Time taken to double
      money: 3.0 Years
    Things You should consider
    • Annualized Return
      for 3 year: 6.46%
    • Suggested Investment
      Horizon: >3 years
    • Time taken to double
      money: 5.9 Years
    Peer to Peer (P2P) is a form of lending that is fit for investors who have already built up a wealth cushion through other products like debt mutual funds and bank deposits, and looking to supplement that portfolio with returns that could potentially deliver a higher return - albeit with a higher level of risk.

    You may add P2P to your portfolio once you have built the cushion. You may invest in a multi cap fund and an index fund for your long-term wealth creation. I would recommend HDFC Equity Fund and IDFC Nifty Fund for your long-term goals.
    (If you have any mutual fund queries, message us on ET Mutual Funds on Facebook. We will get it answered by our panel of experts.)
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