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Ramalingam Kalirajan |7592 Answers |Ask -Follow

Mutual Funds, Financial Planning Expert - Answered on May 07, 2024

Ramalingam Kalirajan has over 23 years of experience in mutual funds and financial planning.
He has an MBA in finance from the University of Madras and is a certified financial planner.
He is the director and chief financial planner at Holistic Investment, a Chennai-based firm that offers financial planning and wealth management advice.... more

Asked by Anonymous - May 03, 2024Hindi

Hi sir, Iam 31 years old, my monthly salary is 1L, without proper planning I purchased a house with 50L home loan with monthly EMI is 45444 , and I'm investing 1.quant Elss tax saver fund - 5000, parag pratik Elss tax saver fund-2500 3. Quant small cap fund -1000 4.Gold -1000,now I'm feeling regret with my decision of my house so now I'm planning to sale the house to skip monthly EMIs so that I can invest that money in SIPs can you please advice a is my decision is good or not please give me a advice Thank you in advance

Ans: I understand that you're feeling uncertain about your decision to purchase a house and take on a significant home loan. Let's analyze your situation and consider your options:

Selling the House:
Selling the house to alleviate the burden of monthly EMIs can be a prudent decision, especially if you're experiencing financial strain.
By selling the house, you'll free up funds that can be redirected towards investments such as SIPs, which offer the potential for long-term growth.
Investing in SIPs:
SIPs are a disciplined way to invest in mutual funds and can help you build wealth over time.
By redirecting the funds from the sale of your house towards SIPs, you'll have the opportunity to diversify your investment portfolio and potentially achieve your financial goals.
Considerations:
Before selling the house, evaluate the current real estate market conditions and ensure that you can secure a favorable selling price.
Take into account any associated costs such as brokerage fees, taxes, and prepayment penalties on your home loan.
Assess your financial priorities and long-term goals to determine if investing in SIPs aligns with your objectives.
Seeking Professional Advice:
As a Certified Financial Planner, I recommend consulting with a financial advisor or a real estate expert to evaluate the pros and cons of selling the house.
A professional can provide personalized guidance based on your financial situation and help you make an informed decision.
Ultimately, whether selling the house to invest in SIPs is a good decision depends on various factors, including your financial goals, risk tolerance, and overall financial health. Take your time to weigh the options carefully and seek advice if needed. Remember, it's important to prioritize your financial well-being and make decisions that align with your long-term objectives

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