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Anil Rego

Financial Planner 

339 Answers | 35 Followers

Anil Rego is the founder of Right Horizons, a financial and wealth management firm. He has 20 years of experience in the field of personal finance.
He’s an expert in income tax and wealth management.
He has completed his CFA/MBA from the ICFAI Business School.... more

Answered on Mar 31, 2024

Asked by Anonymous - Mar 31, 2024Hindi
Hello, I am 56 now no job since 2020. I have around 1.30 cr as FD, 35L in shares, a land of 30L, staying in Mumbai in 2BHK of 1.6CR valuation of flat. Gold of 6L, Insurance policies of 30L. Postal accounts around 40L. My kid education is costing me 15 L per year (medical student). I don't have any loans etc. How can I manage further with this for the rest of my life.
Ans: I hope that your job loss has not affected you emotionally. I see that you are close to your retirement age! One good thing to know is that you do not have any loans outstanding. On the other hand, you still have some responsibilities in your kid’s education apart from taking care of monthly expenses. Ideally, your investments should have covered your kid’s education expense annually given you have 1.30 cr in FD’s. However, if you continue to significantly depend on FDs, you may not be able to achieve your goals- as your returns would not beat inflation on a post tax basis.
At the same time, you are nearing retirement age, which makes you ideally risk conservative. As a first step, I would suggest you move some of your FDs to dynamic asset allocation funds like ICICI Balanced Advantage Fund. Part of your portfolio you can use Large Cap and Flexicap/Multicap funds. Second step is if you can look at some sources of earning to at least cover household expenses for a few years. Your can get it reviewed and see if it is delivering returns in line with managed funds. If not, you can move some of this also to managed funds.
A combination of looking for sources of income, and improving your returns will help you in this journey. One backup you have is that of a reverse mortgage on your house to take care of your expenses.

Answered on Oct 27, 2023

Asked by Anonymous - Oct 25, 2023Hindi
I am 41 & my monthly SIP are as below - I have no loans & asset investment are all completed. To have a final value of 7 cr in 14 years will below be enough? with a XIRR of MIN. 12 % Axis growth Opp - 20,000/- Canara Robeco Equity Hybrid - 20,000/- Kotak Small Cap - 20,000/- PGIM India Midcap Opp - 20,000/- SBI focused equity fund - 20,000/- SBI Contra fund - 15,000/- Quant Small Cap - 15,000/- Nippon India Multi Cap - 15,000/- Kotak emerging Equity - 15,000/-
Ans: First, of all it is good to know that capital intensive goals like fixed assets and loans are completed. You have planned your finances well. My responses are below:
• The Funds listed by you have performed reasonably well
• Currently, most of your portfolio is Equity oriented and are high risk. This is ok, but it is good to have some money on debt options. This has not been provided by you, so cannot comment.
• An assumption of 12% annualized returns over a period of 14 Years looks a little overstretched if one considers having a good mix of Equity, Debt and Gold in the portfolio. Your current SIP’s fall a little short of achieving INR 7 crore over 14 Years with 12% annualized returns. You could increase this on a yearly basis as your income goes up and you should be fine. Over the years, you can also increase the mix of Debt and Gold.
• Another question one needs to ask is whether the Corpus of INR 7 crore is enough assuming that one is planning for retirement. Our retirement models show that this kind of Corpus might be sufficient to cover monthly expenses of approximately INR 1.5-1.6 lacs in today’s scenario. The standard of living varies from person to person, so you can assess based on these inputs.
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