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Nikunj

Nikunj Saraf  |308 Answers  |Ask -

Mutual Funds Expert - Answered on Mar 18, 2023

Nikunj Saraf has more than five years of experience in financial markets and offers advice about mutual funds. He is vice president at Choice Wealth, a financial institution that offers broking, insurance, loans and government advisory services. Saraf, who is a member of the Institute Of Chartered Accountants of India, has a strong base in financial markets and wealth management.... more
Munira Question by Munira on Feb 22, 2023Hindi
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I have been investing 1 Lac every year in ICICI Pru Future Perfect for my son since 2017. I receive around 16,000 every year as Bonus from ICICI, fixed bonus is around 64,000 which I will receive at the end of term. Was investing in this instrument a wise decision, considering I am looking to fund my son's education.

Ans: Hello Investor, Please consider your financial advisor . Thanks
DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Users are advised to pursue the information provided by the rediffGURU only as a source of information to be as a point of reference and to rely on their own judgement when making a decision.
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Ramalingam

Ramalingam Kalirajan  |8479 Answers  |Ask -

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

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Resp. Sir, Thank you so much for the reply. actually I invested in ICICI Pru Guaranteed Income For Tomorrow Plan for fix income without any worry. I will get 1st Payout in sep.2038 at the age of 70 and last at the age of 94. I am 56 now and in pvt job. I am single and have no liability. I have invested in Mutual funds also ( diversified across the market cap). But I have no Insurance of anytype. coz sometime market do not give return for 2-3 years ( sometime negative return also). Hence, I thought a source of fix income should also be there irrespective of market condition. additonally who knows the rate of annuity by 2038 whether it will be 6 % or 5% or 4%. Investing in ICICI ( GIFT) is giving me @ 6+% upto the age of 95. If I calculate SIP at moderate return of 10-12% ( pessimistic) that will give me a corpus between 1.2.to 1.3 Cr. I will get @ 6+% annually fix income out of this ( from ICICI) without any worry. and 66 Lakh return . Market returns are not gurenteed. Hence, that was the thought process behind purchasing ICICI ( GIFT). Now I am feeling greedy. that's why I posted this query on public platform.
Ans: Your thinking behind the ICICI GIFT plan shows a good focus on guaranteed income, especially since it offers stability irrespective of market fluctuations. However, with a rate around 6%, the return is modest, especially considering inflation over the years. While it does provide a secure, fixed income, this rate may limit long-term purchasing power.

Since you already have a diversified mutual fund portfolio, a balanced strategy might involve shifting some of your commitment from fixed-return plans to higher-yield instruments over time. This way, you gain more flexibility and potential for growth while still preserving part of your income security.

Best Regards,

K. Ramalingam, MBA, CFP,
Chief Financial Planner,

www.holisticinvestment.in
https://www.youtube.com/@HolisticInvestment

..Read more

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DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Investment in securities market are subject to market risks. Read all the related document carefully before investing. The securities quoted are for illustration only and are not recommendatory. Users are advised to pursue the information provided by the rediffGURU only as a source of information and as a point of reference and to rely on their own judgement when making a decision. RediffGURUS is an intermediary as per India's Information Technology Act.

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