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Financial Planning Queries

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

Should I select different funds for different financial goals

The words super, great, wonderful not enough to appreciate your service. Really this site giving knowledge that making future safe. So thanks from heart. Am NRI, 27 year age. My Financial Plans are, Buying House - Rs 40 Lakhs (5 year), (Short term) Business Capital - 50 Lakhs (11 year), (Medium term) Children Marriage - 1 Crore (20 years ), (Long Term) Retirement Plan - 5 Crores (30 years). So my question is I have to maintain different portfolio’s according to my goals because from my understandings for this corpse at least I need 80, 000 - 100,000 per month. That I can’t now. so I thought first I will invest for my short term goal (1) and meanwhile for second goal. After 5 year I plan to continue for my others goals gradually. Hence for Short term I choose debt funds. For 1 goal (Short Term - 5 year), (some equity funds for 2 - goal) L&T Ultra Short Term (Debt) - 5000, Birla Sun Life Short-Term Fund (Debt) - 10000, SBI Magnum Gilt Fund (Debt) - 5000, Franklin India Prima Plus (Diversified) - 2500, Birla Sun life Frontline Equity Fund (Large) - 2500, HDFC Balanced - 5000, Total SIP = Rs. 30,000 per month. After 5year (rest of goals – long term), Franklin India Prima Plus (Diversified) - 5000, Birla Sun Life Frontline Equity Fund (Large) - 10000, HDFC Balanced - 10000, Franklin India Smaller Companies Fund (Small) - 10000, Mirae Asset India Opportunities Fund (Diversified) - 5000, Birla Sun Life Short-Term Fund (Debt) - 10000, Total SIP = 50,000 per month Gradually depend upon my future growth I will increase SIP on large and Diversified funds. For assets allocation I remain invest in debt. So please advise is this portfolio and plan will help to achieve my goal?

Apr 24, 2017 by Michael, Chennai  |   Financial Planning
Thanks for the kind words which we truly appreciate. Your idea to plan for different life goals by creating separate investment baskets is an ideal approach. You have also selected good funds for your short term... Read More

Can I reach my financial goals with current investments

Please find the details pertaining to my portfolio and advise me to build my corpus. My objective is to build a corpus of Rs. 1 Crore after 5 years. Kindly evaluate the choice of my funds and let me know how much amount I will be getting after 5 years with the help of these investments. If this much is not sufficient then how much do I need to invest. The details of my present portfolio follow as :- BSL Frontline Equity Fund (Large Cap) - 4000, ICICI Pru Focused Blue Chip Equity (Large Cap) - 4000, SBI Blue Chip Fund (Large Cap) - 4000, HDFC Midcap Opportunities Fund (Mid Cap) - 5000, DSPBR Micro Cap Fund Regular (Mid Cap) - 5000, Sundaram Select Midcap Fund (Mid Cap) - 2000, Franklin India Smaller Cos. Fund (Mid Cap) - 6000, BSL Banking & financial services (Sectoral) - 5000, Reliance Equity Opportunities Fund (Flexi Cap) - 4000, Reliance Small Cap Fund (Flexi Cap) - 2000, SBI Magnum Multicap Fund (Flexi Cap) - 5000, HDFC Growth Fund (Flexi Cap) - 5000, ICICI Prudential Value Discovery Fund (Value Style) - 8000, BSL Pure Value Fund (Value Style) - 4000. Lump Sum - Public Provident fund (Debt) - 500000, ELSS Mutual Fund (Equity) - 950000. Should I continue with these funds or do I need any changes please suggest. Also suggest some funds for lump sum investment? Planning As on Year 2014 - For Study of My Son - 5000000 SIP 8000, For Marriage of My Son - 5500000 SIP 5000, Amount Required After Retirement - 30000000 SIP 15500?

Apr 17, 2017 by Bishwanath Singh,   |   Financial Planning
Currently you are investing Rs 63,000 per month through SIPs and your investment horizon is 5 years. You have selected funds from large cap, mid & small cap, diversified and sectoral funds and your portfolio... Read More

Can you give suggestion on my existing investments

Can you give I am 47 years of age. I am the sole bread earner of my family of 4 i.e, me, my wife, and my 2 daughters (19 and 12 years old). my monthly income from the salary is @1.30 lacs. my current liabilities are 4.25 Lakhs of balance home loan and 50,000 of balance car loan. my assets 2 flats (present worth of @ 1.10 Crore) and my investments are 8.5 lacs in EPF, 4.0 lacs in PPF, 3 lacs bank FD 5.5 lacs in mutual funds, 2 HDFC ULIP of 50000 each (7.2 lacs current values total - 3 years premium paying balance), 2 Kotak ULIP of 75000 each (current value 8.5 lacs total - premium paying term balance 11 years), 3 ICICI Pru Life ULIP of 50000 each (current value 5.4lacs - no further premium paying for 2 ULIP and 3 years balance premium paying for 3rd ULIP). I have invested in HDFC Top 200 (2000 Rs SIP), HDFC Equity Fund (3000 Rs SIP), ICICI Pru Value Discovery Fund (2000 Rs SIP), Birla Sun Life Frontline Equity Fund (2000 Rs SIP), and recently started in Reliance Tax saver ELSS (2000 Rs SIP), L&T India Value Fund (5000 Rs SIP), L&T Prudence Fund (Rs 5000 SIP), SBI Bluechip Fund (5000 Rs SIP). I would like to know whether I should continue in the mutual funds selected or stop in few funds. Also I would like to know about your advise on the ULIP. I have a medical policy provided by my employer of 6 lacs and a personal medical floater policy of 8 lacs. Also I have a term insurance plan of Rs 60 lacs. Please give your critical advise on the queries mentioned above and also any other advise?

Apr 17, 2017 by Hemant, Pune  |   Financial Planning
Here are our observations and suggestion on your query - Your first priority should be to pay off your car loan and home loan. In case you have some surplus, do pay back the loans first and then invest. Investing... Read More

How to save for my marriage and start own business goals

I have queries regarding investment. My age is 28 years. I am currently in a contractual job in abroad for 1year(extendable). I have 2 goals for future. First one is saving for my marriage in 2years and 2nd one is fund for my start up business plan in next 6 years. In what type of mutual fund do I invest or any other investment plans?

Apr 12, 2017 by Anup, Ryadh  |   Financial Planning
As your marriage goal is only two years away, you can save the investible surpluses in short term income fund either through SIP or in lump sum as and when funds are available. You can choose a short term... Read More
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