Dear Col. Sanjeev sir, I am 46 yrs old, I have the following investments, 12 lacs in various mutual funds, 12 lacs in PPF, 10 lacs in NPS, around 60 lacs in PF. I have term plans to cover any eventuality and health insurance for me and my family. My take home per month is around 2.5 lacs. I have a land worth ~25 lacs (no loan). 1 flat worth ~40 lacs (no loan). 1 flat worth ~1.7 cr. (loan of 70 lacs). I have two sons and I need to fund their education (assuming they will join engineering). Expenses expected in 2 yrs - 4 yrs time frame. Please advise if my savings will be sufficient for studies and retirement. I am expecting a monthly expense of Rs. 1 lacs per month post retirement. Thank you!

Ans: Thank you for sharing your financial details with me. It's evident that you've been proactive in planning for your future and that of your family. Let's delve into your current situation and discuss your aspirations for your sons' education and your retirement.

Firstly, it's commendable that you have a diverse portfolio of investments, including mutual funds, PPF, NPS, and substantial savings in PF. Additionally, having term plans and health insurance provides essential protection for you and your family against unforeseen events, ensuring financial security.

Your real estate holdings, including land and flats, add another dimension to your asset portfolio. However, it's essential to consider the liquidity and potential maintenance costs associated with real estate investments.

Now, regarding your sons' education, it's thoughtful of you to plan for their future. Engineering education can indeed be a significant financial commitment, and it's essential to start preparing for it in advance. With your current savings and income, you should be able to cover their education expenses comfortably.

However, it's crucial to factor in inflation and any potential increase in education costs over the years. Regularly reviewing your financial plan with a Certified Financial Planner can help ensure you stay on track to meet your goals.

Looking ahead to retirement, your monthly expense estimate of Rs. 1 lac post-retirement is a helpful starting point for planning. With your current savings and investments, along with your pension and potential rental income from real estate, you seem to be on the right track to maintain your desired lifestyle post-retirement.

However, it's essential to consider factors such as inflation, healthcare costs, and any unexpected expenses that may arise during retirement. Regularly reassessing your retirement plan and adjusting it as needed will help ensure you're adequately prepared for life after work.

In conclusion, while your current savings and investments appear sufficient to meet your goals, it's essential to stay vigilant and adapt your financial plan as your circumstances evolve. Consulting with a Certified Financial Planner regularly can provide valuable guidance and peace of mind as you work towards achieving your financial aspirations.