Should I choose CSE at NIT Nagpur or Civil at NIT Srinagar?

Ans: Hi Saras,

Firstly sorry to hear about your son's health. I can only hope and pray that the situation improves.

As you have retired and your monthly expenses of 35000 is well within the income you are receiving and at the same time you have ongoing investments of 45000 monthly, your accumulations are growing.

So as far as you are concerned it seems like you will be adding to the corpus you already have. But with inflation your monthly expenses will increase and also more importantly your medical expenses will rise. So this becomes important to be managed with your corpus.

It is important to assess the portfolio from 3 perspectives - liquidity, stability and growth.
Liquidity is important to cover any unexpected or unplanned event requiring money immediately or with a short span of time.
Stability is important to weather market conditions and provide security for continuous and steady cashflow.
Growth is also important as you are looking at a long time to live on the money you have accumulated/invested and overcome inflation value.

As you have a mix of FD, Post office schemes, Insurance plans and Mutual funds, it is important to evaluate the portfolio from the above perspectives and realign it for your requirement for future.

Insurance plans (assuming they are insurance + investment product) can be good option when you are working/earning, but once you have retired, they may not be ideal option for investments. So the Insurance plans need to be reviewed and then decided on. If you have taken them many years ago and they are nearing maturity then, wait and collect maturity benefits. If they are more recently purchased and their maturity will be after a very long period, then they won't be ideal for you.

FD's, PO schemes and Mutual funds are a good combination. Overall the corpus with investments and incomes seen seem to be fine but a detailed analysis is required.

I would suggest you contact a CFP/Financial advisor who will guide you. Choose a fee based advisor who is not pushing any products.

Thanks & Regards
Janak Patel
Certified Financial Planner.