Need some financial advice!!!
My family lives in a tier 3 city in India. We are financially stable but confused about how to grow wealth properly.
My mother is a government employee earning around 1 lakh per month. My elder brother also has a government job and earns around 70k per month. We receive around 90k combined pension from my father and grandfather. We also have rental income of around 45k per month from shops and houses.
We own our main house in the city, another 3 BHK in a posh colony, one residential plot in an upcoming area and another 2 BHK house in a village. We do not have any loans. We also own one car worth around 8 lakhs.
Overall our monthly family income is close to 3 lakhs and most of it is stable income. But we feel our investments are not growing properly.
We hired a wealth manager but honestly the returns are not very impressive and we still pay a lot of taxes every year.
Should we move more money into mutual funds, index funds or equity? Would appreciate advice from people with experience in wealth management or similar family backgrounds.