Ask Money Today: Are index funds good for long term goals investment? Goal based investing is the most apt way to look at one's portfolio. A 70-20-10 allocation to large mid and small caps would help with the investment mix Are index funds good for investments for retirement and higher education of children? I am 32, salaried. My dependents are son (2 years), wife (25 years), mother (55 years) and father (65 years). I am drawing a monthly salary of Rs 58,000. My provident fund contribution is Rs 4,000 per month and PPF contribution is Rs 500 annually. I have a term insurance policy HDFC Click2Protect worth Rs 50 lakh. I have a health insurance policy - Star Health Family Optima worth Rs 6 lakh. I have kept an emergency fund of Rs 2 lakh in SBI savings with auto sweep option. I have invested Rs 97,000 in the ELSS scheme of Mirae Asset Mutual Fund. I also invest Rs 33,000 per month in UTI Nifty Index Fund- direct plan-growth option. The current valuation of my equity portfolio is Rs 10 lakh. My debt fund portfolio is Rs 4.55 lakh.