Sir,
Myself 31 yr married and a working professional in Pvt sector with an emergency Corpus of 1,50,000 which would be okay for me till 4-6 months. I already have term insurance of 1 cr and health insurance for my family. I want to seek advice on investment.
I have still not started any investment in stocks or MF.
My financial goals are as below:
Short term :
1. Car under 10 lac after 6 - 7 years
2. House (2bhk) in 10-12 years (i already stay at our parents own house so not in a hurry to purchase my own house)
Long term :
1. Child education after 17 years with a Corpus of 20-25 lacs
2. Child marriage after 22 years with a Corpus of 25-30 lacs
3. Retirement after 25 years with a Corpus of 1 cr.
My current salary is 50k in hand.
Pls suggest.
Ans: Given your financial goals and current situation, it's great to see that you've already established an emergency corpus and have adequate insurance coverage. Now, let's focus on your investment strategy to achieve your goals.
For your short-term goals like buying a car and a house, which are 6-12 years away, consider investing in a mix of equity and debt instruments. Equity mutual funds can provide the potential for higher returns over the long term, which aligns well with your time horizon. Debt instruments like fixed deposits or debt mutual funds can offer stability for your shorter-term goals.
For your long-term goals, such as your child's education, marriage, and your retirement, you can afford to take more risk and invest primarily in equity mutual funds. These investments have the potential to generate higher returns over a longer period, helping you build the required corpus.
Since you're new to investing in stocks or mutual funds, it's advisable to start with systematic investment plans (SIPs). SIPs allow you to invest regularly in mutual funds, helping you benefit from rupee-cost averaging and reducing the impact of market volatility.
Considering your current salary of 50k in hand, assess your monthly surplus after meeting your expenses and allocate a portion towards SIPs for each of your goals. A Certified Financial Planner can assist you in creating a customized investment plan tailored to your goals, risk tolerance, and financial situation.
Remember to review your investments periodically and make adjustments as needed to stay on track towards achieving your financial goals. With discipline and patience, you can build a solid foundation for your future financial security.
Best Regards,
K. Ramalingam, MBA, CFP,
Chief Financial Planner,
www.holisticinvestment.in
