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Financial Planning Queries

Can I generate corpus for retirement from my mutual fund SIPs

This is second time I an writing to you for suggestions. I has been following this site and App. Thank you very much for educating for people like me on financial aspects. I have started SIP 9 months back with 60000. My aim is to generate some corpus for my retirement. I am 42 years old and continue my SIP 8 more years. My risk profile is modarate to aggressive. Please review my portfolio and share your comments. Here is the my portfolio, all are growth and direct funds - 1. SBI Bluechip - 7500, 2. Mirae Asset Opportunities - 7500, 3. ICICI Pru Value Discovery - 7500, 4. BSL Equity Fund - 7500, 5. DSP BlackRock Micro Cap - 5000, 6. Mirae Asset Emerging Bluechip - 5000, 7. HDFC Balanced Fund - 10000, 8. L&T Prudence Value Fund - 10000?

Jun 30, 2017 by Venkat, Bangalore  |   Financial Planning
Thanks for appreciating our work. Your portfolio mix indicates 90% equity and 10% debt asset allocation. This is a fairly aggressive asset allocation but it should work for you because you mentioned that you have... Read More

Have I started well for achieving my financial goals

I am 28 years, single, and have recently (2 months) started investing in mutual funds through SIP. My goals are at different stages of my life. In the next 4-5 years. I wish to buy a house worth 40 lacs (current price). I want to build a handsome corpus for my retirement and children education. My mother will be retiring in the next 5 years so after 5 years I wish to support my parents too. I currently have INR 7 lacs towards my education loan which I can pay in the next 4-5 years in instalment, no other loans. I have term insurance of 1 cr and health insurance too. I seek your advise in building my portfolio and check if my start is good and what all funds do I need to add in order to achieve my goal. House is my first preference in the next 5-6 years. My current investments are: Franklin India Smaller Companies Fund: INR 2500, Mirae Asset Emerging Bluechip Fund: INR 10000, L&T India Value Fund: INR 7500, ICICI Value Discovery Fund: INR 5000. I can invest INR 30-40 thousand more per month. Please advise me if my fund selection is good or not. Also, advise if more funds are needed to achieve my goal and further investment or I should just increase the amount of investment in the existing funds than adding more funds? Many thanks for all your help. I look forward to your reply?

Jun 15, 2017 by Neeraj Singh, Delhi  |   Financial Planning
We think you have made a good start by selecting top performing funds for your SIPs. You have two goals to meet after 5 years – 1) House worth Rs 40 Lakhs and 2) Support your parents financially. But you have... Read More

How to reach my various financial goals

I am 28 years of old and got married 6 months ago. Current financial status 1) Monthly Salary 43k, 2) Monthly Expenditure 20k, 3) Wife searching job, 4) I am alone child and parents still earning (will retire in 5-7yrs) Mother eligible for govt. pension, 5) no home loan currently, 6) Family health cover of 10lac (apart from my company's), 7) All my LIC and other insurance have cover of 15 lac. My SIP's 1) 1k UTI Retirement Benefit Pension Plan (since Dec. 2010), 2) 1k UTI ULIP (since Dec. 2010), 3) 2k ICICI Prudential Blue Chip (since Apr. 14) 4) 5k Reliance ELSS (5k Since Jan. 15), 5) 7k Reliance Money Manager (5k since Dec. 12, incremented by 2k from Sep 15), 6) 2k LIC Saving Fund (since Sep. 13), LIC insurance premium auto deducted from here, 7) Lump sum 1.15 lac in DSP Money Manager STP 2k weekly to DSP Micro cap (Will increase amount annually as I earn more and my wife starts job) Apart from this: 1) EPF As part of salary, 2. PPF 1 lac current total (I add as per tax needs) Old stopped SIP' (no redemption yet). 1) 1k L&T Opportunity Fund (Dec. 10 - Jan 14), 2) 1k HDFC Top 200 (May 11 - May 15). I have no urgent need of these yet and return is on 15+ side Goals 1) Early Retirement at 56 years (required 3cr.), 2. A car in 1yr (required 5-6lac.), 3. Child education after 25-27 years (required 40lac), 4) A small investment home in 5yrs (7-10lac for down payment) to help tax and earn rent, 5) A big fat family vacation (once every 3yrs. required 2 lac), 6) A STP to my parents monthly 10k after 11 years, 7) 1k charity per month after 1yr Questions Are my SIP' good and enough to full fill my goals? What to do with stopped SIP' amount. Should I transfer them or let be as is?

Jun 14, 2017 by Kanad Arvind Mehta, Pune  |   Financial Planning
You have a long list of goals, but we find that your investments are not well organised and invested in schemes/ products not performing well. But first let us see how much you need to save per month to reach... Read More

Can I achieve a goal of 1 Crore after 5 years by investing in SIPs

I am willing to invest in mutual fund. I will be doing a SIP of Rs 50,000 monthly & have created the following diversified portfolio - HDFC Balanced Fund(G): Rs 5000, Birla Sunlife Dynamic Bond: Rs 5000, Birla Sun Life Advantage Fund(G): Rs 8750, SBI Bluechip(G): Rs 8750, Franklin India Prima Fund(G): Rs 8750, Kotak Emerging Equity Fund: Rs 8750. My age is 25 years and target is to buy a home after 5 years worth 1 Crore. Please guide me with my investment portfolio?

Jun 1, 2017 by Shekhar Suman, Jamshedpur  |   Financial Planning
Glad to hear that you want to buy a home worth Rs 1 Crore after 5 years from your SIP corpus. Congratulations in advance! You have selected good funds for your monthly SIPs and excepting Birla Sun Life... Read More

How can I generate wealth for kid

I would like to start an investment/create a good corpus for my 1 month old baby. Can you please help with the appropriate MF / Child gift fund for long term wealth creation. At present, I am thinking of contributing 1.5 to 3 K specifically for this. Apart form this I already have SIPS in different schemes amounting to about 25K. Request you to please suggest appropriate method by which I can generate wealth for my baby?

May 18, 2017 by MGD, Mumbai  |   Financial Planning
Heartening to note that you are targeting wealth creation for your 1 month old baby. You are planning about the right goal at the right time - Congratulations! Please note that you should not consider any child... Read More

Can I reach my financial goals one by one

Hope you are keeping good. My query is little bit over-ambitious, but still I want to attain my financial goal. My query is, How much I should invest in which mutual funds so that I can attain atleast 10 lakhs for my sister's marriage in the next 5 years. Next goal: Close to 1.5 Crores for my daughters marriage after 25 years and 1 Crore for my retirement during the same period. I am naive in the MF scenario, my current investment is 3000 SIP in Axis Long Term ELSS which I stopped after 1 year, and will move to DSP Tax Saver, then 4000 in Birla sun life 96 ELSS, and 4000 in DSP BlackRock Micro Cap SIP, 10000 lump sum I invested in L&T Emerging Business Fund and I plan to invest lump sum of 3 lakhs in equal division of 1.5 lakh each in Mirrae Asset Emerging and L&T Emerging (both small and mid cap). Please let me know if I need to invest more and how much and in which funds to attain my goal one by one?

May 13, 2017 by Subham Dutta, Bangalore  |   Financial Planning
I am doing good and expect the same from you. Please have your queries answered as follows - You need to invest Rs 11,500 through monthly SIPs in a good diversified equity fund for 5 years for meeting... Read More

Should I invest bank OD amount into mutual funds

I have OverDraft (OD) based home loan (9.5%), I have excess money (40 Lakhs) in that account. As per my calculation, if I keep 40 Lakhs in OD for 10 years I will be saving 22.1 Lakhs, if I invest 40 Lakhs in mutual funds then I can earn compounding interest rate. so now I have questions: 1. Is my above understanding is correct? If yes then? 2. Since the market is at its peak so rather than doing lump sum investment in MF, I think to start putting 40 Lakhs in a good liquid fund and start STP / SIP from that to put into Equity Oriented Balanced Fund. I will plan STP/SIP in such a way that I flush up my liquid fund within 1.5 years. Is this a correct approach? 3. Even if I consider 11% CAGR return from above exercise with 10 years horizon then I would be making 73.57 Lakhs interest which is more than what I would be saving by paying OD account? 4. I have the adequate term plan to cover up the risk in case of death? 5. My age is 41, I have twins kid (11 years old), 11 Lakhs in PPF, already investing in MF (Monthly SIP of Rs 60,000), LIC policies (I am planning to close down as I am not getting good returns), I will invest LIC money into good balance fund. Not yet planned anything for retirement. This is to give you an idea about my risk apatite. I hope my question is clear enough. I would appreciate for an expert comment on this strategy?

May 5, 2017 by Jay, India  |   Financial Planning
Theoretically, your plan sounds good as you have compared the OD interest rates which may be lower compared to the future gain that you could make by investing in equity mutual funds. But coming to the... Read More

How to recover my company fixed deposits

I have invested my money in Company fixed deposit of Unitech, Micro Technology and Plethico Pharmaceutical. I am not getting my money back from these companies and my FD matured in 2014. Can you please suggest us what can be done? I think there are many consumers who are facing this issue?

May 3, 2017 by Soniya, New Delhi  |   Financial Planning
There are quite a few options available to you to recover the amounts from the defaulting companies. Under the Companies Act, 2013 a depositor is free to file an application under sub-section (4) of section... Read More

How can I better my current investments

I am Suraj Rai 27 years old salaried person. I am married and my wife is a teacher. We have 1 year old baby boy. My current salary is 32k/month and wife is getting approx. 13k/month in hand. We both are expecting at least 10% continuous hike in our salary/year. We are trying to build financial wealth as much as possible as my father's retirement is still 5 years later(He is government C class A grade central railway employee). So we have sound family's financial backing at present if something goes south. I have done below investment till date. 1. 2 LIC policy with combined yearly payment of 27025 Rs(it's insurance clubbed with investment). 2. 1 ELSS scheme taken of Axis Bank Long Term Fund, amount 50000 lump sum payment done in December 2016. 3. 15872 Rs/year of medical cover for me, my wife and a 1 year kid taken in August 16. total coverage is 18 lakhs for us, 15 lakhs in joint while 1-1 lakh each for me, wife and baby. 4. One 2 BHK flat purchased in Virar W Mumbai in April 2016 along with property & life cover(Rs 36 lakh) till loan period (11 years after possession). Agreement value is approx. 39.5 lakhs. EMI will be 44.5K/month once possession is given to us. Till that period , PRE EMI will be getting deducted(presently around 25K/month). My views are that taken life insurance policy will work as a debt fund along with minimum insurance cover. after 40 years projected return is approx. 40 lakhs. By the same time I will have Second I wish to use ELSS scheme for next 2 more years to build a decent emergency fund as that is major concern for me due to lack of funds in hand. Further I wish to stabilize my finances for some time as I believe, I am overstretched due to loan EMI. For more safety Should I buy additional life cover for me & my wife as premium is very low nowadays? I have 10 lakh of life cover already from LIC and additional 36 lakhs jointly with my wife from Aviva life insurance which is linked to my home loan account. My wife doesn't have any other insurance cover. Please have a look in my investment pattern and suggest what can be done to make it better. If any clarity is required, please let me know?

Apr 26, 2017 by Suraj Rai, Mumbai  |   Financial Planning
We think you should not mix insurance with investments and also should not compare debt funds with your life insurance policies. How you have calculated that you will receive Rs 40 Lakhs from your and your... Read More

How to create corpus for buying a home after 2 years

We are planning to purchase a house in 2019, costing around 1.5 Crore. Wish to have a corpus of around Rs 50 Lakhs in hand in Dec 2019 with as SIP / STP of around 40-50,000 per month. We are moderate Risk seekers. Kindly suggest best performing funds?

Apr 24, 2017 by Ketan A, Rajkot  |   Financial Planning
You have only 2 years and 8 months in hand for creating the corpus of Rs 50 Lakhs. Since the tenure is 2 years and 8 months only, investing in short term debt funds can be suggested. Assuming annual return... Read More
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