@cedric48 First freeze on your goals. Secondly decide what kind of investor you are.
Currently your earnings are 3l pm and expenditure is 1 lpm.
If the PPF account is not in your daughters name, reevaluate it.
Recommend you and your wife both increase your VPF contribution as this will get you 8% plus returns vs 7.1% in ppf. You can open a PPF, sukanya samrudhi scheme or take a ulip from a insurance company for your daughter. They all offer similar returns and benefits. The plus with the Ulip, if anything happens to you, you won't have to make payments for the remaining term.
Assuming housing is taken care of, here is a list of goals
Health insurance - keeps going up with age
Retirement corpus - assuming you need 2 lakh per month in today's terms , you will need a corpus of 4to 5 cr. In 10 years time you may need 8 cr. Factor 6 to 7% inflation.
Child's education, marriage and inheritance
Replacement cars - every 10 yrs
Keep 6 months income in savings or fd which you can break easily. This is your emergency fund.
Increase your investments in MF to a lakh per month. You can stick with the current funds you are invested in. If you feel you have bandwidth, then make the increased investment on a monthly basis during lows - this may give you a 1-2% better return.
Start investing in gold funds or actual to hedge your risk.
If you have surplus cash invest it every month in the highest short term FD, typically between 2-3 yrs at approx 7%.
