abhayjit said:

Hi guys, i am 22 yrs old and just started out in my job. I am earning around 39k . I am planning to put around 60-70k in PPF to make up for 1 L tax exemption . Other than that i a thinking of keeping around 20K per month in HDFC sweep-in account . That leaves me around 10-12k per month for investment . Can you guys advice me on where to invest . I was thinking of SIP or ULIP .I had even given a 15k cheque to HDFC SL Youngstar Super Premium yesterday. But after hearing bad things about this ( and ULIP in general) , i am thinking of terminating this plan and taking up Mutual Fund . But i have very little knowledge in this domain , so can you please help me out ..

Thanks in advance 

Hi… you are making a mistake by not in ULIP and not in Mutual funds. At age of 22, 39000 is good salary, so you should be able to take risk and hence, invest more in equities and mutual funds. If you wish to save tax, invest in tax saving MFs.

Moreover, after DTC implementation, you'll not get the chance to invest in tax saving MFs. So, i would say invest 100% in tax saving MFS