नमस्कार सर, मैंने जुलाई 2023 से डीएसपी म्यूचुअल फंड में 11,000 रुपये से निवेश शुरू किया है और दिसंबर से बैंक ऑफ इंडिया म्यूचुअल फंड में छोटे फ्लेक्सी और मल्टी कैप में 4000 रुपये प्रति माह निवेश करना शुरू किया है। 15 साल बाद मुझे क्या रिटर्न मिल सकता है?

Ans: You're at a critical financial stage. Planning for your child’s education and securing your family’s future are both top priorities. You've already started a ULIP, which is a start. But let’s take a deeper 360-degree view of your situation.

Below is a detailed plan, broken into simple sections for better clarity.

 

Assessment of Your Current ULIP Investment

You're investing Rs. 10,000 per month in a 7-year ULIP.

 

ULIPs mix insurance with investment. That reduces the growth power of your money.

 

Charges like premium allocation, fund management, and mortality charges reduce returns.

 

Your actual invested amount is much lower in the first few years.

 

ULIPs have limited flexibility in fund switching and partial withdrawal rules.

 

Maturity benefits are taxed if the annual premium exceeds Rs. 2.5 lakh. Be cautious of this.

 

A ULIP is not ideal for education goals or long-term wealth building.

 

As a Certified Financial Planner, I suggest surrendering this policy and moving funds to mutual funds.

 

You can continue till 5 years to avoid surrender charges if already started.

 

But do not renew after the 7-year term. Don't increase contributions in this ULIP.

 

Planning for Your Child’s Higher Education

Your child is 6 years old. You have around 11-12 years.

 

College education in India or abroad can cost Rs. 30–60 lakhs or more.

 

Instead of ULIPs, invest in diversified mutual funds. This will give better inflation-adjusted returns.

 

Use a mix of large cap, flexi cap and small cap mutual funds.

 

Start SIPs in these funds with a long-term horizon of 10-12 years.

 

You may also consider goal-based child education funds that are actively managed.

 

Don't invest in direct funds. They look cheaper, but don’t offer guidance.

 

Always invest through a Certified Financial Planner via a regular plan.

 

Your investment will stay aligned with your goal as the planner will guide with rebalancing.

 

Use a dedicated SIP only for child’s education goal. Don’t merge it with retirement planning.

 

Suggested Action Plan for Child’s Education

Shift future contributions from ULIP to SIPs in active funds.

 

Start with Rs. 20,000 per month SIP only for education.

 

Review this SIP every year and increase it by 10%-15% annually.

 

Add lump sums like bonuses or yearly increments into the same goal fund.

 

In the last 2 years before the education goal, shift to debt funds slowly.

 

This will protect your accumulated amount from equity volatility.

 

Investment Plan for Your Wife (Age 38)

She has a long horizon. She can invest for both retirement and her independent needs.

 

Open a separate mutual fund folio in her name.

 

Start SIPs in flexi cap, large & midcap, and hybrid funds in regular plans.

 

You can start with Rs. 10,000 per month and increase gradually.

 

You may also use her PPF account for additional tax-free corpus.

 

Avoid investing in gold, insurance policies, or real estate for her.

 

Ensure she has her own health insurance and a term insurance if she’s working.

 

If she’s not working, then create an emergency fund in her name.

 

That gives her independence and safety if she needs cash.

 

Family Protection with Insurance

You did not mention your term cover. You must have it if not already.

 

Ideal cover should be 15–20 times your yearly income.

 

ULIPs or LIC endowment policies should not be considered for protection.

 

Avoid investment-linked insurance plans. Keep insurance and investment separate.

 

Review your existing insurance covers. Add riders like critical illness and accident if needed.

 

Tax Efficient Planning

Use Section 80C wisely. Don’t just rely on ULIP or LIC plans.

 

Max out PPF, ELSS mutual funds, and children tuition for tax saving.

 

Invest in actively managed ELSS funds for better returns than ULIPs.

 

Avoid index funds for tax planning. They may underperform in volatile markets.

 

Debt funds are taxed as per slab now. Use carefully if short horizon.

 

Track capital gains if you sell mutual funds. Use new tax rules for equity funds:

 

  - LTCG above Rs. 1.25 lakh taxed at 12.5%

  

  - STCG taxed at 20%

 

Plan redemptions well in advance to manage taxes efficiently.

 

Retirement Planning (For You and Wife)

Start a separate SIP for your retirement corpus. Do not merge with other goals.

 

You have 17 years for retirement. That’s good for wealth accumulation.

 

Invest in a mix of actively managed flexi-cap and large-cap funds.

 

Add hybrid funds to reduce volatility as you near retirement.

 

Continue EPF, and increase VPF if possible. It is tax-free and safe.

 

Don't consider NPS if liquidity is important. Maturity rules are rigid.

 

Use mutual funds with regular advice to stay on track till age 60.

 

Exit ULIPs and Poor Insurance Products

You mentioned TATA AIA ULIP. Continue for 5 years to avoid penalty.

 

After that, exit and move funds to SIP in mutual funds.

 

If you or wife have LIC endowment, Jeevan Saral, or ULIPs, surrender them.

 

Reinvest maturity amount into SIPs in regular mutual fund plans.

 

Do not fall for insurance agents who pitch plans as tax saving or guaranteed.

 

Emergency Fund and Liquidity

Keep at least 6 months of family expenses in a liquid mutual fund.

 

Don’t use your SIP or education fund as emergency source.

 

You may open a separate savings bank linked sweep account for this.

 

This fund will help if there is any job loss, health issue, or urgent need.

 

What Not to Do

Don’t invest in new ULIPs or insurance-linked plans.

 

Avoid direct mutual fund investments. You won’t get guided rebalancing.

 

Do not use your child’s education fund for house down payment.

 

Don’t pick index funds. They underperform in sideways or bear markets.

 

Don’t buy land or gold as an investment for your goals.

 

Final Insights

You are at a very strategic life stage. You have time and income strength.

 

ULIPs will not help you grow wealth. Shift to goal-based mutual fund SIPs.

 

Separate goals: child education, your retirement, wife’s security, and emergencies.

 

Invest only through a Certified Financial Planner for customised long-term support.

 

Review all goals every year. Increase SIPs with income.

 

Protect family with pure term insurance and health insurance.

 

Focus on building wealth in regular mutual funds, not through insurance products.

 

Real financial freedom comes when goals are funded without stress.

 

You have a clear head start. Use it with discipline and right guidance.

 

Best Regards,
 
K. Ramalingam, MBA, CFP,
 
Chief Financial Planner,
 
www.holisticinvestment.in
https://www.youtube.com/@HolisticInvestment