Which will be the right saving route ? MF or RD

[Sameer Kapoor]

My monthly savings are Rs. 15,000 in MF through SIP and Rs. 5,000 in RD. I divert the RD to pay for life insurance and mediclaim premium for self and wife. I have a 6 months small baby boy. I want to start saving for him as well. I can contribute Rs. 4,000 more. What will be the best option MFs or RD?

[samkapoor77]

You ask my personal opinion and I will discard both these options. In your savings, I couldn’t see any plan to financially secure your family in case you die. It will be better to purchase term plan.

[Author]

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