I passed my 12th in 2023 cbse board. So I'm not eligible for jee advanced 2026 but can I give my 12th again under nios board for year 2025-26. Then will I be eligible for jee mains and adv 2026?

Ans: Hi,

Your biggest goal that I understand is your kids education which cannot be compromised.
You have started an SIP of 10000 and over the next 10 years this will accumulate into an amount of approx. 23 lakhs at 12% returns.
Please note all schools typically increase fees each year between 8%-12% (same may be even more). So depending on your choices, this amount may or may not be sufficient for their education. If you look at graduation and post graduation, the amount required are much higher.

So I would recommend that you increase your SIP towards this goal and provide the best education you can.

As for the plot you wish to buy-
As you already have a home loan EMI, it indicates you already have a house. So the new plot/house is an additional asset that you wish to build. But is it prudent to use all your savings ? My opinion is this will jeopardize your financial equation.
Buying the plot and taking home loan and staying with no saving - a huge risk. Any situation where you need money for an emergency or kids education you have no asset to liquidate. A plot is not an asset that will generate income, cannot be liquidated quickly and its value (increase) will depend on many factors not in your control.
You are bound by EMIs for the next 15-20 years and you will be so closer to retirement and other goals for family/kids that you will feel a lot of strain financially.

You need to not only secure your kids future but also think of accumulating wealth for other goals in the future and most importantly Retirement.
It is prudent to save now and accumulate for the future, let the eighth wonder - "compounding" work the miracle for you.
Lets see some numbers for the next 10 years.
30 lakhs in FD - at 7% this can become approx. 59 lakhs
65000 in SIP (instead of new EMI) at 12% can become approx. 1.5 crores.
Total corpus of over 2 crores.

The above amounts are only for 10years, and if kept for another 10 years can grow to over 7crores.

You can revisit the option to buy a plot in the future once a few goals are achieved and you have accumulated good corpus.
You can consult a CFP to guide you towards a plan to achieve all your goals and provide you with options and alternatives and help you make the right decisions.

Thanks & Regards
Janak Patel
Certified Financial Planner.