Financial Planning Queries

Can you please let me know if my fund selection is fine for investing over next 15 years

I am planning to invest in the following schemes for next 15 years. Please do review the same and provide me with your expert answer. PPF - 5000 (15 years), SBI Blue Chip Direct (G) - 5000 (15 years), SBI Midcap Magnum Direct (G) - 5000 (15 years), Franklin India Smaller Companies Direct (G) - 10000 (15 years), HDFC Balanced Direct (G) - 10000 (15 years), ICICI Prudential Value Direct (G) - 10000 (15 years). Please let me know if there are any other funds or should I invest in sector oriented funds considering that I have an investment horizon of 15 years?

Aug 16, 2016 by Muthuraman, Thiruvanthapuram | Financial Planning

Your idea of investing in PPF and mutual funds over 15 years is a wise decision. The funds selected by you are all good performing and spread over large cap, diversified, midcap and balanced funds... Read More

How much I should invest each month to build retirement portfolio based on my current monthly expenditure

I am of 30 year and currently a central government employee. I am having child of 3 months. I am under NPS with current value of Rs 5.00 lakhs. My monthly contribution include government towards NPS is Rs. 7550/- which is expected to increase Rs. 9000/- after pay commission. Monthly earning after all deduction:- Rs 42000/- (expected after pay commission- 49000/-), Monthly expenditure is Rs. 27000/- (including rented house @ Rs 8000/-), Invested in Axis Long term equity direct growth (SIP= 2000 from Dec-15), Retirement age 60 years, Life expectancy 80 years. After retirement to live in self occupied house. Please advise:- 1. How much I should invest each month to build retirement portfolio based on my current expenditure. Also suggest name of mutual fund along with investment break up? 2. How much and which MF combination I should invest each month to build child education portfolio for Engineering after 17 year?

Aug 3, 2016 by Mukesh Kumar, New Delhi | Financial Planning

The answer to your query is that you should get your financial planning done by some financial planner at Delhi as he or she will be able to take complete information from you, understand your risk profile... Read More

Difference between EPF vs PPF vs NPS vs RD vs FD

Difference between EPF vs PPF vs NPS vs RD vs FD?

Jul 25, 2016 by S Nair, Mumbai | Financial Planning

We do not have readymade content to really do this comparison. But definitely, we will try to address this by creating some tools. Meanwhile, few of the comparisons can be found from here... Read More

National pension scheme advantages and disadvantages

National pension scheme advantages and disadvantages?

Jul 25, 2016 by S Nair, Mumbai | Financial Planning

You can read the following articles which I am sure will help answer your query... Read More

Can you do complete analysis of my present investments

My investments details following, 1. LIC - Yearly 80,560, 2. RD - 8,000 Monthly (Tenure 120 months), 3. Post Office RD - 2,000 Monthly (5 years), 4. PPF - 500 per month. Monthly approximate salary: 72k, Number of members - Myself, Wife - currently not working, looking for job, Kid (boy, std1), Parents (Not working, no income), Brother (Fresher working), House loan (Pre EMI) stared, also some gold deposited in bank which is due, 1 personal loan Rs. 1 lakh, No trading, SIP, MFs etc. Am I having a good investments, what more need I have to do?

Jul 20, 2016 by Suthish Nair, | Financial Planning

Your salary is Rs. 864,000 per annum but you are saving only 86,560 (LIC Rs. 80,560 + PPF Rs. 500 x 12 months) for savings taxes under section 80C of the Income Tax Act 1961. What is the amount that... Read More

Can PPF deposits be used as collateral in banks

Can PPF deposits be used as collateral in banks?

Jul 20, 2016 by A.K.Jha, Dhanbad | Financial Planning

You can use government bonds, PSU bonds, NSC, KVP etc as collateral for bank loan. However, banks will not accept deposit in your PPF account as collateral because balance in your PPF account cannot... Read More

Can a demat account be opened in the name of a minor

My daughter is 17 years of age. I wish to open a demat account for her marriage (to say after 6-8 years). Q1. Is custodian account facility available in our country? Q2. Is trading in minor's account allowed before she becomes adult legally? Q3. Will income generated in next one year, till she attains maturity, be clubbed in my income or will belong to her?

Jun 13, 2016 by Pankaj, Ghaziabad | Financial Planning

Demat account can be opened in the name of a minor by the natural guardians (Parents) or court appointed guardians. As a guardian you will have to fulfill all requirements for documents and KYC... Read More

Should I preclose Credit Card and Personal Loan and avail Home Loan

Planning on a Home Loan - I am paying around Rs. 27000 towards CCs and Personal Loans of around 6 lakhs take home of Rs. 45,000 recently got some liquid cash of Rs. 10,00,000. Should I close the current debt and proceed for Home loan? My CIBIL has been okay, but if I preclose will I get home loan, please advise?

May 10, 2016 by Radhika Dass, Vishakapatnam | Financial Planning

Against a take home salary of Rs. 45,000 you are paying Rs. 27,000 for credit cards and personal loan. That means 60% of your salary goes towards servicing the principal and interest of these two debts... Read More

Would you please advise investment option for my retirement money

I am 68 years old staying with my spouse in my apartment in Bangalore. Recently I got separated from a Cowhere I worked for 10 years. I am likely to get EPF along with my contribution which would be around 57 lakhs. I have already made investment in senior citizen scheme. I do not have any loans. I have health insurance of Rs 10 lakhs. No specific family commitments. Would you please advise investment option for the money, I shall be getting this month?

Apr 22, 2016 by M Senapati, Bangalore | Financial Planning

You have not given sufficient details in your query. Your appropriate investment choices should be determined by your overall asset allocation profile, income from your existing investments, your lifestyle needs... Read More

How to invest my savings of 15000 per month. My Salary is 30000 per month

My age is 40 year, family of 4 members two kids age 16&9. My salary is 30k p.m. My saving is 15 k p.m. How to invest for future?

Mar 14, 2016 by Anand, Indore | Financial Planning

You have to start by defining your financial goals and quantifying it. Only when you clearly define your goals, can you plan your investments in order to achieve those goals. Some of your goals will be long term... Read More