I need to save around Rs 25 lakh to buy gold for my daughter’s wedding, which is about 5 years away. What’s the best way to go about it? Sleep ETFs, digital gold, Or mutual funds, Sovereign bonds have been rejected due to the liquidity factor.
Raj Khosla, Founder and Managing Director of MyMoneyMantra.com replied: With a defined medium-term goal, you should opt for physical or digital gold, and a mix of gold ETF and mutual fund investment options. Buy digital/physical gold for a lump sum of Rs.5 lakh or as per your purchasing desire. Thereafter, you should start a SIP for the next five years in two gold ETFs namely HDFC Gold Fund and Kotak Gold Fund with Rs 5,000 each. You should try to reap the benefits of compounding returns from mutual funds by starting two more SIPs of Rs 5,000 each in equity diversified funds for the next five years. Gold funds and digital gold can be redeemed at short notice, as per your requirement after five years. Twelve months before your cash flow requirements, re-align the equity mutual fund corpus to debt funds. The combo investment route will help you accumulate Rs 25 lakhs for gold purchases after five years.
I had invested in shares a few years back with my brother’s demat account. He got stock options from his company and I bought 1,000 shares. Now how do I transfer the shares to my demat account? I don’t want to sell shares.
Vikash Jain, Co-founder, Share Samadhan Pvt Ltd, replies:
If you wish to transfer the shares from your brother’s demat account to your own account, your brother needs to sign the Delivery Instruction Slip (DIS) of his demat account in your favor, containing the details of transfer of shares and your The demat account details will be mentioned and then submit the DIS to your broker where he has his demat account. After successful processing of DIS, the shares will be transferred from your brother’s demat account to your account. Request your brother to contact your broker for giving the DIS.