I am 49 and my monthly net salary after GPF and tax deduction is 60000.i invest in Ulip 5000 every month. What should be my other savings for a decent retirement. GPF deduction is 23000

Ans: Considering your current expenses, age, and retirement goals, it's essential to plan your investments carefully to maintain your lifestyle post-retirement. Here's a rough estimate to help you determine how much you should invest monthly:

Calculate your post-retirement expenses: Estimate your expenses after retirement, factoring in inflation, healthcare costs, and any additional expenses you may incur.
Determine your retirement corpus: Based on your post-retirement expenses and expected lifespan, calculate the corpus you'll need to support yourself and your family during retirement.
Assess your existing investments: Take stock of your current investments and determine how much they are likely to grow by the time you retire. Consider consulting a financial planner for a detailed analysis.
Calculate the shortfall: After considering your existing investments, calculate how much additional corpus you need to accumulate by the time you retire.
Determine monthly investment required: Based on the shortfall and the number of years until your retirement, calculate the monthly investment required to bridge the gap and achieve your retirement corpus goal.

Ans: To estimate your retirement corpus, multiply your monthly expenses by 12 to get your annual expenses. Then, considering a safe withdrawal rate of around 4-5% annually, divide your annual expenses by 0.04 or 0.05. As for MFs, opt for a diversified mix of equity and debt funds based on your risk tolerance and investment horizon. Consider consulting a financial advisor for personalized guidance.

Ans: Planning for your Retirement Income
You're taking a great step by planning for your retirement income at 51. Here's how we can estimate how much you might need to save to reach your goal of Rs. 1.5 lakh per month after retirement at 58.

Factors to Consider:

Current Savings: Your current monthly savings of Rs. 1,17,500 is a significant starting point.
Time Horizon: You have 7 years (58 - 51) till retirement.
Desired Retirement Income: Your target monthly income is Rs. 1,50,000.
Inflation: Inflation erodes the purchasing power of money over time. Consider a conservative estimate of 5-7% inflation.
Rate of Return: The expected return on your investments will determine how much you need to save.
Here's a simplified calculation (assuming a fixed rate of return):

Total Corpus Required:

Let's assume an 8% annual return and 7% inflation (adjusted return of 1%).
We can use the formula for perpetuity present value (PV) to calculate the corpus needed: PV = Desired monthly income (adjusted for inflation) / Adjusted annual return PV = (Rs. 1,50,000 * 12) / (1 + 0.01) = Rs. 1,80,00,000
Shortfall in Corpus:

You already have Rs. 30 lakh corpus.
The shortfall would be Rs. 1,80,00,000 - Rs. 30,00,000 = Rs. 1,50,00,000
Additional Monthly Savings:

To calculate the additional monthly savings required, we can use a savings goal calculator available online.
These factors will be considered: time horizon, desired corpus, and expected return.
Important Points to Remember:

This is a simplified calculation. Real-world returns may fluctuate.
Consider consulting a financial advisor for a personalized plan considering your risk tolerance and investment portfolio.
You've mentioned various investments (MF, PPF, EPF, etc.). An advisor can help assess the asset allocation and suggest adjustments if needed.
Positive Aspects of your Current Savings:

Your current savings of Rs. 1,17,500 per month is commendable.
You're invested in a variety of instruments (equity, debt, government schemes).
Next Steps:

Estimate Shortfall: Use a retirement calculator to get a more accurate estimate of the additional monthly savings required.
Review Investments: Consult a financial advisor to assess your current asset allocation and suggest adjustments if necessary to align with your retirement goals.
Increase Savings: If there's a shortfall, consider ways to increase your monthly savings by reviewing expenses or increasing income.
By planning and potentially making some adjustments, you can be well on your way to achieving your desired retirement income.

Ans: Start SIP after completing your EMI, I don't know what is the meaning of peaceful retirement for you and what is your goal for marriage and education of your children

Ans: Based on the information provided, let's evaluate whether your savings are sufficient for your post-retirement life:

Monthly Expenses: Your monthly expenses are approximately 30,000/-. This is a crucial factor in determining how long your savings will last in retirement.
Savings Breakdown:
Mutual Funds and Stocks: 20 Lacs
PPF: 25 Lacs
EPF: 10 Lacs
FD: 35 Lacs
Assessment:
With a total of 90 Lacs in savings, and considering your monthly expenses, your savings can cover your expenses for approximately 30 months (2.5 years) without any additional income.
PPF and EPF provide a stable and secure source of income, but their liquidity may be limited.
FDs provide a relatively stable source of income, but the returns may not be sufficient to cover your expenses in the long run, especially considering inflation.
Next Steps:
Consider other sources of income, such as pension plans or annuities, to supplement your retirement savings and ensure a steady stream of income in retirement.
Evaluate your investment portfolio and consider diversifying to ensure a balance between risk and returns.
Explore options for reducing expenses or generating additional income streams to extend the longevity of your savings.
Consult with a Certified Financial Planner to create a comprehensive retirement plan tailored to your specific needs and goals.
While your current savings provide a foundation for retirement, it's essential to carefully plan and manage your finances to ensure a comfortable and secure retirement lifestyle. With proper planning and prudent financial decisions, you can enjoy a fulfilling retirement without financial worries.