Answer: It is good that you have started to save at the start of your career. The advantage you get at such an age is a disciplined approach along with the benefit of compounding.
At your age with fewer responsibilities, the savings rate can be higher. You can save the surplus of your income over expenses. In your case, that is ₹41,000 per month. Your bonus should also be invested. Whenever your salary increases, so should your investments, after taking into account the expenses.
A few financial goals are common to most. For example, at your age, it could be marriage expenses and buying a house for yourself. Going forward, it could be your children’s education and retirement. These may seem far-fetched right now but over time you will start planning for the same. To start with, your focus should be investing for the long term, creating a corpus for short-term goals, if any, as well as putting in place a contingency fund.
Among your existing schemes, the mid-cap and hybrid fund need to change. You can also opt for a multi-cap and large-and-mid-cap fund with the intention of diversifying the portfolio. Mirae Asset Emerging Bluechip, Canara Robeco Emerging Equities and UTI Equity funds are good options.
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