Post all your financial planning queries here

Shower your Ideas for my Financial plans

Dear All,

I am a soundless spectator of this Indusladies forum. The Information given in the various forums are much useful to all of us over here. The threads involved in this money matters are awesome especially to me. It feels like as if some one is advising from behind for me to do this, to take initiative on some thing regarding money.

I am going to get married by Sep 3<SUP>rd</SUP>. Both me and my fiancée are working for private firm (IT professionals). I will continue my job after marriage. Right now we both are working in <?xml:namespace prefix = st1 ns = "urn:schemas-microsoft-comffice:smarttags" /><st1:country-region w:st="on"><st1lace w:st="on">UK</st1lace></st1:country-region>. After marriage we would continue to work here min 6 months max 1 year. I have seen many working women in this Forum making wise decisions. Please help me out in this.

I would like to plan my financial things right from my marriage.
1) My Financee has got personal loan for about 4L for which he is paying monthly around 20K which was taken for his sisters marriage
2) His credit card statements shows around 50000 balance.
3) He has got some LIC to pay regularly (I am not sure about those things). But the policy was taken under my MIL name.
Myself
1) I have got a personal loan (for my dad) of around 3L for which the monthly install is around 8326.
2) LIC policy – Jeevan Anand half yearly plan – 12k
I don’t have any other policies or anything.

Our plan is to close all the personal loans, then credit card
To have a own house, a car, a good education for kids and retirement plan
So far apart from LIC we don’t have any other investments. After marriage, I have planned to increase my VPF and also I have planned for SIP.

Do I need to plan anything apart from this Have I planned correctly. Am I planning anything extraordinary which I can’t achieve it.

Please shower <st1:City w:st="on"><st1lace w:st="on">ur</st1lace></st1:City> valuable suggestions. To say I am very poor in financial things. More than me my fiancée is too poor.

 

Hi,

I am silent viewer in IL's. It is very good to see the Q and A's.
Thanks for providing your valuable suggestion on time.
I have some questions now,
I am at the age of 28 house wife and my husband(Age:33) is earning a 50K for a month we have a daughter, 3 yrs old.
We have taken a home loan and LIC premium amount is 17000 per year.SA:2L.
Apart from this we are paying the gold chit.Apart from this we do not have any savings.

We are planning to take either Children Education plan/Pension plan/Term assurance Plan/FD's/RD's/Gold ETF.
Which one would be better to invest, We know that we are lagging.
In confusions itself we have spent 2 to 3 years.
Please advise which one would be better for investment.Per month we can plan for 5k for investment.
Please guide us to proceed further.
Thanks in Advance.

 

Sita

How about prioritizing which one is important and how much time do you have to save money for those list of things you want to save for

Like if your kid is 3 yrs old...she has atleast another 15 yrs to go to college education where you would need more money...so think about 15 yrs * X amount of money wiht a base rate of interest accrued...might be good thing is to invest in MFs. See Shaishavs suggestions on the kind of funds we can invest in (look into hte last few pages of this thread)...see how much return you would get if you invest for 15yrs in a certain MF

Reg. retirement, you have to calculate couple of things
first...what is your monthly expenses ..if its some 25 thousand for example
second...how many years of money do you need in retirement i.e if you are retiring at the age of 60...from 60 to 85 or 90 yrs old i.e 25 or 30 yrs of retirement i.e no work...you need per month 25 thousand i.e 3 laks per year....at the rate of 3 laks per year...for 25 yrs how much you need? 75 laks in retirement savings...

calculate how many more years are you going to work? say example 20 or 30 more yrs...see how much you can save and which line of saving is giving more return and also is safe..

Please read the past posts and threads here in this money matters forum, there is loads of info and you wouldget the idea of how much to divide b/w retirement and kids education savings

Good luck

 

Hi Shaishav,

Thanks for giving great advice for all IL members.
I hope i also get great support from you and I am sharing my financial forcast and investment below. Please advice me on the same.
We (hus and me,aged 29 and 26) working and waifing for our first kid's birth in coming November.

By god's grace we dont have any liability still.
We together made some wrong investment and finaly we came to know those are foolish things. All investements we did mainly focusing to get the tax benefit and we did all investments feb-march months by friends advice.
Now i am very disappointed about the investment we did. Please advice me for get a nice financial supported future for us.
Details of policies we have.
----------------------------------------------------------------------------------------------------------------
HDFC - Unit Linked Endowed Plan
we are paying 5k quarterly and we paid 11 premiums and this month need to pay 1 more prmium to complete 3 years.
Fund value is around 58k now.
----------------------------------------------------------------------------------------------------------------
Plan Name ING : FLA - New Fulfilling Life Anti. W/L
Risk Term (or) Risk Age : 85 years (Risk age as Customer's age)
Policy Commencement Date :11 Feb 2009
Yearly I am paying 15k to this policy (that also made for tax saving!!).
I did 2 installments.
Shaishav, we dont have any idea about this policy. Please advice on this..
----------------------------------------------------------------------------------------------------------------
Aviva-
Policy #1: New Freedom life Plan (ulip).
last year we started this policy and paid 31k as yearly premium (tax saving!!). Now i can see the fund valueis around 22k !!.
Policy #2: Ulip. (dnt know the plan name. but this also a ulip policy)
i have completed the 3 year term and current fund value is around 76k (i have paid 75k).
----------------------------------------------------------------------------------------------------------------
LIC Money Plus (T.N. 180)

Sum assured 3.6lkh
Policy term : 10
Quarterly Premium : 9k
Fundy type: Growth

Completed 3 years
----------------------------------------------------------------------------------------------------------------
ICICI prudential - LifeStage RP
yearly premium 25,000
Sum Assured 125,000
completed 3 years.
---------------------------------------
these all the investments we have and recently we opened one demat account.
We are planing to built a house and for this we are planing to take housing lone for 20-25 lkh
and coming year planing to buy a car (less than 5lakh).
for these all finacial forcast we have this time.
we together can save atleast 25-30k every month.
Please advice me for all investment policies which i mentioned above and looking for a great advice for how i need to plan for future about financially. It will be great for us to avoid all financial problems in future.
Waiting for your great advice.
Thanks,
Sujivee.

 

Investment for NRIs in India

hi all,

Can anyone of NRI person guide me about the investments to be made in india specially for NRIs??

We didn't do much investment recenly so not aware of the market. I am mostly interested in mutual funds / lic policy etc or any other investment.

I would be greatful if any one you can provide me the links / information. as since long this investment matter is pending

best regards

 

Re: Investment for NRIs in India

I have started investing ICICI prulife. It acts as a life insurance and also my premium is invested in high risk hedge funds. I chose to invest high risk for now because I still have a long time to retire. eventually i will change this to moderate and low risk. So far the fund has not disappointed me. Go to ICICI's website and look for pru-life.

If you are investing in LIC, its also a very safe place to invest.

I wouldnt suggest you to invest large amounts (over 5 lacks) yet in NRI category because you are not going to be there often monitoring it. Of course, if you end up finding a good portfolio manager, then its a different ball game altogether.

Good luck.

 

Re: Investment for NRIs in India

please look into this thread, you would find more info
http://www.indusladies.com/forums/money-matters/97787-post-all-your-financial-planning.html

 

Re: Systematic Investment Plan - SIP

Hi ILs,

Please suggest some good funds for SIP investment (both for short term (1-3 years) and long term (10-15 years)). One of my friend who works in HDFC AMC has suggested me to go with HDFC Equity Fund and Reliance Growth Fund. Is it worth investing ? If not, please suggest some good ones. Thanks in advance.

 

Re: Investment for NRIs in India

Rakhi,

Please let me know about the name of the plan you had taken, then i will pull out the info.it is high time for us now and i do not have much idea of the market.

Does anyone suggest the name and contact details of the ''reliable advisor '' in this field???

thanks,

 

Hi Shaishav,

i have noticed that you are giving a good advice to the indusladies here.

Please let me know the plan- mutual fund, pension plan etc for myseld, my hubby and 12 year old kid. my age is 36, my husband is 40 years old. I will prefer to do one time investment (INR 5 to 10 lac) instead of paying it yearly for 15-20 years. otherwise if you can advise a plan in which i can invest INR. 10000 per month for 5 years and then don't have to a single penny, then also fine

As our status is NRI, the plan should be suitable for NRI persons as well as with the possibility of apply it online.

awaiting for your valubale suggestion,
thanks in advance