Getting Married in 2025: Fearful of Financial Burden

Ans: Hello;

Firstly you should keep amount worth 6 month of expense coverage as emergency fund in an arbitrage or liquid type mutual fund.(50 K x 6=300K).

Both of you should buy a term insurance with critical illness and accident benefit riders for life cover. Despite corporate health insurance, it is advisable to take a good family healthcare plan from long-term perspective that covers pre-existing, critical illnesses, maternity expenses as well.

If your spouse has a traditional endowment LIC plan then my suggestion would be to surrender it because it gives very poor returns.

The same amount(monthly premium) if you invest in mutual funds (even the less riskier ones)can give you much better returns, but ultimately it's you choice.

You may start a sip of 50 K in a value focussed, balanced advantage fund and a sip of 18 K in an equity savings fund.

The 50K sip will grow into a sum of around 30 L in 4 years which could serve as down payment for your house purchase/loan.

The 18 K sip will grow into a sum of 10 L after 4 years, earmarked for car purchase. (Modest return considered of 10% assumed)

Both should start NPS account for retirement planning and keep contributing in whatever small way possible but regularly, because eventually EPF corpus gets consumed for some other necessity.

Recommended funds for the types mentioned above:
1. Kotak equity arbitrage fund
2. SBI liquid fund
3. ICICI Pru balanced advantage fund
4. HDFC equity savings fund

Wish you both a married life full of multibagger returns of happiness and prosperity!

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*Investments in mutual funds are subject to market risks. Please read all scheme related documents carefully before investing.

Ans: Dear Anonymous,
There is no hard and fast rule that you have to be dating for a certain period of time before you marry someone. But, of course, if you feel it's too soon, you can communicate your concern to your partner. After all, it is important to be on the same page. And who knows, maybe something your partner says or does can put your mind to ease.

Best Wishes.