You are an investment advisor and working in an investment firm. One customer Mr. Gaurav approaches you and wants some advice in investment related matters.

Mr. Gaurav is currently 30 years old and his wife is 28 years old. He is having a daughter of 2 years. Mr. Gaurav is working in MNC and earns Rs. 60,000 per month. His wife is also earning Rs. 45,000 per month. They are having a joint bank account in ICICI Bank and having Rs. 10,00,000 in their bank account. The income of both would grow @ 10% per annum.

Mr. Gaurav wants to invest the funds in an optimum portfolio which meets out their objectives. They want that their money should be invested in safe, liquid, tax saving and high return generated securities.

Mr. Gaurav wants to work till the age of 60 years and his wife planned to work till 50 years of age. They usually save around 60% of their regular income. They want to send their daughter to abroad for higher studies after 15 years which requires around Rs. 50,00,000. They have also planned the marriage of their daughter when she will attain the age of 25 years, and would require around Rs. 1,00,00,000.

Design the optimum portfolio for Mr. Gaurav and his wife and suggest them to invest in various investment avenues, so that they can utilise the funds efficiently and secure their retirement age.