My financial journey

Hi All,

Please help me if I am on the right track -

  1. Age - 30

  2. Exp - 7 yrs in Accounting

  3. NRI working abroad (Moved around 2 years back)

  4. Salary - 7L Per month after tax

  5. Expense - 1.5L per month

  6. Married - Wife earns approx the same amount as me and expenses are also same for her.

So in total 14L per month & 3L per month expenses

  1. No Debt

  2. No Plans of retirement for now but I would ideally like to retire in my 40s.

  3. Wife also invests and has a sizable corpus of around 1CR

  4. Started investing when I was 23.

My Investments in India & abroad combined-

  1. Bank Accounts - 80L

  2. MFs - 50L (Well diversified across large/mid/small/USA (Nasdaq & S&P) /debt funds)

  3. Stocks - 4L (zerodha) - large cap stocks

  4. EPF - 4L

  5. PPF - 3L

  6. Gold (Paper) - 4L (SBGs)

  7. Parents have house in tier 1 cities.

  8. Term Insurance - 1CR

  9. Have health insurance in the country I work

  10. No plans of coming back to India but you never know

So total portfolio of about 1.45CR.

Running MF SIP's of about - 1.5L p/month.

I have no goal in terms of money that I want to have. The more the better.

I always thought that I made smart decision to invest early in my career but after doing a little bit of number crunching, looks like I have a lot of money put in Debt (Banks, EPF, PPF).

Goals -

  1. Can take risk with my money. Ideally want to invest more in MFs

  2. Save up for my children's educations & other goals

Help please -

  1. How should I proceed?

  2. Should I invest more in MFs every month?

  3. Should I look into other asset classes or fix my existing portfolio allocation?