I am 44 years old, married with a monthly salary of 4.5 lakhs after tax. I own a debt-free house. My daughter is 9 and my son is 4. I am looking to build a corpus of 2 crores for my children's education, 1 crore for their marriages, and to buy two additional houses. I also aim to accumulate a retirement corpus of 10 crores. Please advise on how I can achieve these goals in the next 10-15 years.
Current Savings:
• Fixed Deposit: 16 lakhs
• Shares: 72 lakhs
• Provident Fund (PF): 1.4 crores
• Mutual Funds: 15 lakhs
• Public Provident Fund (PPF): 10.5 lakhs
• ULIP: 21 lakhs
Ongoing Investments:
• ULIP: 3 lakhs/year (for the next 3 years)
• PPF: 1.5 lakhs/year (for the next 8 years)
• Provident Fund (PF): 82,000/month Including company contribution.
• Mutual Fund SIP: 60,000/month
• Shares SIP: 30,000/month
• Additional Shares Investment: 5 lakhs/year
Ans: Your current savings add upto 2.745 Cr.
Assuming you keep them invested and considering composite moderate return of 8% this will grow upto a sum of 8.71 Cr after 15 years.
Ongoing investments will lead you to a corpus of 6.66 Cr after 15 years(Appropriate conservative returns considering the various investment instruments)
6.66+8.71=15.37 Cr
Retirement corpus goal 10 Cr?
Children education fund goal 2Cr?
Children wedding goal 1Cr?
Additional home(2) buy 2Cr?
Keep reviewing and rationalising your stock holdings and hedge it if necessary as per advice from investment advisor.
Consider SSY in the name of your daughter (8.2% currently with quarterly review by GOI)since it's an E-E-E tax exempt scheme.
Do consider suitable family floater health cover apart employer group coverage.
You may follow us on X at @mars_invest for updates
Happy Investing
