Hello. I am 41 years old and I am planning to open my own small business of food outlet as I was in same industry in next 1 month after planning of 1.5 years.
Currently I have below savings.
4,00,000/- in NPS adding 5,000 each month. 6,00,000/- in PPF adding 5,000 each month.
I have below SIP.
Franklin India tax shield growth. Investment is 10,70,000/- and gain is 51,21700/- 5000 SIP.
HDFC Defense fund regular growth. Investment is 33,000/- and gain is 15,538/- 3000 SIP
HDFC Flexi Cap Fund Direct growth. Investment is 5,48,000/- and gain is 11,70,600/- 4000 SIP
And also invested in below mutual funds as lumpsum.
Aditya Birla sunlife Equity Hybrid fund growth.
AXIS small cap fund regular growth
HDFC Balanced Advantage Fund direct growth
HDFC Midcap opportunities fund regular growth
HDFC NIFTY200 momentum index fund growth
HDFC small cap fund direct growth
HDFC top 100 fund direct growth
ICICI Prudential Bluechip Fund Growth
Motilal Oswal large and mid cap fund growth
Motilal Oswal small cap fund regular growth
Nippon India multi cap fund retail plan growth
Nippon India small cap fund growth
Quant small cap fund regular growth
SBI contra fund growth
UTI MNC fund growth.
Total Investment is 21,50,000/- and gain is 16,70,000/- which was reinvested as tax-harvesting in same mutual funds.
Since my age of 25 I have started investing 10,000/- in NSC And after maturing after 5 years add 15,000/- and make it round figure value in and then some same thing in my years of 35 to 40 years. Invested 25,000/- and made round five and invested in NSC. I get maturity of NSC on 1st of every month now.
I have 10,00,000 as emergency fund kept in FDs in bank.
And I have also invested if Rs. 12,00,000 in shares from which gain is of 6,00,000/
Investmentv in physical gold is 3,50,000/- from which gain is 35,00,000/-
Investment in physical silver is 75,000/- from which gain is 3,50,000/-
ULIP investment is 1,50,000/- and gain is 2,70,000/-
My monthly income is NIL. And my expenses exceeds no more than 50,000/- which includes SIP investment and PPF and NPS investments. I have my own home which costs 95,00,000/- and 18 years of EMIs are pending which my wife is paying pending amount as we divide everything in home.
I have 7 years old son who is studying in school I want suggestion that can I retire now or should I start getting along with small business. As if I stay back home it will be very hard for me coz previously I used to work for more than 12 to 14 hours daily. Also do let me know if I need to change anything in my investment.
Ans: Congratulations on your diligent savings and investment journey! Your detailed financial portfolio reflects years of disciplined planning and prudent decision-making. It's impressive how you've diversified across various asset classes, including mutual funds, NSC, real estate, and precious metals.
Regarding your plan to start a small food outlet business, it's essential to assess your financial situation and risk appetite carefully. While your investments provide a strong financial cushion, transitioning to entrepreneurship requires thorough consideration of cash flow requirements, business risks, and potential returns.
Given your history of hard work and dedication, pursuing your entrepreneurial dream seems feasible. However, ensure you have a robust business plan in place, including financial projections and contingency measures. Additionally, consider consulting with a business advisor or mentor to validate your business idea and strategy.
Regarding your investments, your portfolio appears well-diversified, but it's always prudent to periodically review and rebalance based on changing market conditions and personal goals. Consider consulting with a Certified Financial Planner to ensure your investment strategy aligns with your long-term objectives, including retirement planning and your son's education.
Remember, entrepreneurship entails both opportunities and challenges, so proceed with careful planning and realistic expectations. Your determination and financial discipline will likely serve you well in this new endeavor. Wishing you success in your entrepreneurial journey!