# Personal Finance - My Investment Options for FY2023-24

In this blog post, I am sharing all my investment options across different goals for FY2023-24. I have written a similar [blog post for FY2022-23](https://blog.lokesh1729.com/personal-finance-my-investment-options-for-fy2022-23).

# Emergency Fund

In FY2022-23, I invested in liquid funds for an emergency fund, despite they have given the instant redemption feature the returns are very low. So, for this year, I want to go for money market funds because they are offering good returns and I don't want an instant redemption feature.

![Emergency Fund](https://cdn.hashnode.com/res/hashnode/image/upload/v1688353536492/55a299b2-4481-4c3c-bb64-6e163bfb2a46.png align="center")

I have shortlisted only two funds. Even though nippon has 5-star ratings from both agencies, the risk is moderate according to ValueResearch. So, I went ahead with [Tata Money Market Fund](https://www.valueresearchonline.com/funds/1731/tata-money-market-fund-regular-plan/).

# Short Term Goals

For short-term goals (1-3 years), I decided to use recurring deposits than debt mutual funds because, from this financial year, [the government has removed the indexation benefit for debt mutual funds](https://12ft.io/proxy?q=https%3A%2F%2Findianexpress.com%2Farticle%2Fbusiness%2Fmarket%2Findexation-benefits-debt-mutual-funds-stand-out-against-fixed-deposits-8535261%2F) which means that they are taxed as income under the same tax slab. So, there is no difference between RD and debt mutual funds. I did some research and found that Equitas is giving a [whooping 8.2% interest for RDs](https://www.equitasbank.com/sites/default/files/inline-files/domestic-recurring-deposit-rate.pdf). When it comes to security, the DICGC insures principal and interest up to a maximum amount of five lakhs. So, not to worry about it.

![Recurring Deposits](https://cdn.hashnode.com/res/hashnode/image/upload/v1688272757671/411e656a-65fd-4c3f-b216-93041740e482.png align="center")

For other short-term goals like vacation, I selected Kotak Savings Fund because it is rated 5 stars by morning star and NiyoMoney also recommends it.

![short-term mutual funds selection](https://cdn.hashnode.com/res/hashnode/image/upload/v1688353479540/37c1a111-50b3-4403-a925-6d7429f50db8.png align="center")

# Long Term Goals

For long-term goals, I have been investing in index funds for the past 2 years for so many good reasons. So, for this year too, I will be going [ahead with NiyoMoney recommendations](https://www.niyomoney.com/blog/2023-mutual-fund-recommendations-2/).

![Long term index funds](https://cdn.hashnode.com/res/hashnode/image/upload/v1688275293519/bc4a9ccb-cd87-4d07-8bf4-3cd2cd8d7cc3.png align="center")

Apart from the index funds, I also started investing in equity active funds last year. So, I am continuing with the same funds but wanted to add a midcap fund to the portfolio. Hence, I selected [Quant Midcap Fund](https://www.valueresearchonline.com/funds/958/quant-mid-cap-fund/). Even though Motilal Oswal is giving good returns, there is a negative rating in Morningstar.

![Midcap mutual funds](https://cdn.hashnode.com/res/hashnode/image/upload/v1688353581422/3c8abf05-a99d-4eba-ae1a-8737b0d28ca3.png align="center")

# Tax Saving Goals

The tax saving goals are the same as [FY2022-23](https://blog.lokesh1729.com/personal-finance-my-investment-options-for-fy2022-23). Health Insurance, NPS, 80C.