Very good to hear that you are taking the right step now.
Since kids college education is at least 17 years away, avoid investing in Balance advantage fund. Instead invest aggressively in mid/small cap funds. you could shift to less risky (debt / hybrid funds etc.,) when goal is 2-3 years away…
If you still feel that you need Balanced fund, consider restricting to 1000/month or so.
Instead of HDFC Gold fund, consider SGB as the Capital Gain is 0 when held till maturity.
it could also be bought from secondary market as well.
You could also consider Nippon India Nifty Midcap150 fund … cost effective and tracks benchmark index.
I hope you are considering DIRECT plan – Growth option in all funds.
More important, hike MF investments aggressively year on year based on your salary growth and/or optimizing expenses wherever feasible.
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