Post all your financial planning queries here Part-2

Discussion in 'Money Matters' started by shubamr, Jun 30, 2010.

  1. shubamr

    shubamr New IL'ite

    Messages:
    41
    Likes Received:
    1
    Trophy Points:
    8
    Gender:
    Female
    Re: Post all your financial planning queries here

    Hi Shaishav,

    Thank you very much for the reply.

    We had this big question from long time. I will show this reply to my husband to convince him J
    Thanks….
    Yes we need your help in getting clear picture. Please find below details.

    [FONT=&quot][/FONT]
    Your & your husband’s age: 28 and 32 years respectively.
    If both are working: yes
    <?xml:namespace prefix = u1 /><u1:p></u1:p>Kids (if any): kid’s age - 2 year old Son.
    Monthly we could save: 50000pm it’s excluding monthly expenditure and Home Loan EMI
    We pay towards policies yearly: Me – 50000(LIC 25000 and ULIP)
    My husband: - 43000(LIC, ULIP and child policy)
    Home Loan we have is: 1000000 with tenure 20 years. (17000 EMI)
    Long term goal: Child education, retirement and building wealth.
    Investments done for tax saving: All above investment comes in 80C.

    Please suggest us how much we should invest and prepay the home loan. It would be great help if you could suggest some good plans as well.

    Thank In Advance.
    Regards,
    Shuba



    [FONT=&quot][/FONT]
     
    Loading...

  2. shimjamun

    shimjamun Junior IL'ite

    Messages:
    50
    Likes Received:
    9
    Trophy Points:
    13
    Gender:
    Female
    Re: Post all your financial planning queries here

    Hi,

    I read your post. Really it was impressive.

    • Your & your husband’s age: 25 (unmarried)
    • If both are working:
    • Kids (if any): kid’s age No
    • Monthly income: 15,000
    • Monthly expenses:
    • Insurance Policies: (Sum assured, annual premium and no of years the policy has been running) 2000/month, min 4 yrs,completed 1.5 yrs..
    • Investments done so far and where and for what purpose: Max NewYork.. ULIP...Pension Plan...
    • Regular investments being made other than the above plans: I am saving 5000/ month in chit fund
    • EMI’s being paid (if any): No
    My question is: Is Max newyork Pension plan good? I want to invest 50 K in a nice way which should give good returns. I would like to know about share market as well..I would like to invest in share market which should give only profit in a less period :cheers
    Could you please send me your email id in a private message?

    Regards,
    Rekha.S
     
  3. poons

    poons New IL'ite

    Messages:
    28
    Likes Received:
    0
    Trophy Points:
    6
    Gender:
    Female
    Re: Post all your financial planning queries here

    Hello IL,

    :help

    I hope this is the best place to ask this. I am a Post-Graduate Planner in London, with 0-3 months experience. Recently I have been offered a job as an assistant Planner with an Architectural and Design Firm in Mumbai, in the Vidya Vihar (W) area. I have visited Mumbai and india many times, however i understand living there and earning is a different matter. I have been offered Rs.18,000 per month and would like some advice on whether this sounds legible for a monthly salary. My expences would be: Rent (est. around 3000-5,000 per month, food and general amenities, travel and other small expences like socialising. Any advice would help me plan my next step, Thanks in advance! Also little note, I am mostly confused about this as I would really appriciate the experience i would gain from this post, however I would not like to be too short-changed in the process!

    Poons
     
  4. shabd

    shabd Bronze IL'ite

    Messages:
    291
    Likes Received:
    4
    Trophy Points:
    25
    Gender:
    Female
    Re: Post all your financial planning queries here

    hi shaishav

    first of all let me tell you a big thanks for starting this thread.

    i live abroad with my husband and 2.5 years old daughter.before marriage i was working and after marriage i have stopped working.we dont have any savings till now as my hubby says "live in the present.dont bother about the future."but i am bothered about the future as this living in present policy helped to add some debts.i am planning to take up a job.i have managed to buy a plot near my house with my gold 3 years back and that is the only savings i have till this date.we can pay the debts with husband's income and the rest of his income will go directly to in laws.i have got some good offers now.i can save my salary for the future if i join for a job.i should have posted this question after joining a job.but when i saw this thread,i couldnt resist myself from posting these questions which i always ask myself.please help me
    my question is

    how much is the minimum amount i should save per month for
    • my child's future(education,marriage etc)?
    • for building a house in kerala in 5-8 years.i would not prefer to take loan to build my house
    • for getting a decent monthly income after retirement

    and which plans are the best for people living abroad?
    NB: we dont have pan cards.i have heard that for investing in mutual funds etc,one needs to have pan cards.
    thanks in advance
     
  5. imemyself

    imemyself Senior IL'ite

    Messages:
    393
    Likes Received:
    5
    Trophy Points:
    18
    Gender:
    Female
    Re: Post all your financial planning queries here

    Hi Saishav,
    Let me first congragulate and appreciate your initiative for the help you are providing here.:thumbsup

    About my financial planning, I need your advice here.
    Husband and myself working.
    Below are the details of the policies that I have enrolled. Want your input on this and what more can I do on the investment side as well.

    1) LIC
    Policy Plan - Money Back Policy - 20 years

    Sum assured - 1,00,000
    Yearly premium of arnd 6k.
    Policy started on 2005
    Bonus accrued - 15k

    2)LIC
    Jeevan Surabhi - 20 years
    Sum assured - 1,50,000.
    Premium payment term - 15 years.
    early premium of 13,425.
    No Bonus.
    policy started on 2009.

    3)LIC - This is for my kid (4.5 years now)
    Jeevan Kishore
    Policy term 18
    Premium - yearly - 10348
    No Bonus
    Sum assured - 2,00,000
    started on 2008.
    4) Bajaj Allianz
    NEW UG EASYPEN PLUS SIZE ONE
    Premium paid for 2 years. - 15k

    I am not sure if all the details that I have provided will suffice. Please tell me if any more information is required.
    Also , for my son's education does the policy that I have enrolled for him holds good or do I need anymore planning for him.
    I am totally amateur in this. Please help me out.

    Thanks a lot,
    Jaya
     
  6. Darshini20

    Darshini20 New IL'ite

    Messages:
    17
    Likes Received:
    0
    Trophy Points:
    1
    Gender:
    Female
    Hello give me good suggestions on saving money

    Hello all,

    I work in an office.m married.have more commitments too.I wan save some part of my earned money.Gmme nice suggestions.:coffee
     
  7. Bharathi.K

    Bharathi.K Senior IL'ite

    Messages:
    111
    Likes Received:
    0
    Trophy Points:
    16
    Gender:
    Female
    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-com:eek:ffice:smarttags" /><st1:country-region w:st="on"><st1:place w:st="on">UK</st1:place></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"><st1:place w:st="on">ur</st1:place></st1:City> valuable suggestions. To say I am very poor in financial things. More than me my fiancée is too poor.
     
  8. seetha

    seetha New IL'ite

    Messages:
    25
    Likes Received:
    0
    Trophy Points:
    6
    Gender:
    Female
    Re: Post all your financial planning queries here

    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.
     
  9. sujivee

    sujivee New IL'ite

    Messages:
    4
    Likes Received:
    0
    Trophy Points:
    1
    Gender:
    Female
    Re: Post all your financial planning queries here

    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.
     
  10. canreachus

    canreachus Senior IL'ite

    Messages:
    152
    Likes Received:
    5
    Trophy Points:
    18
    Gender:
    Female
    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
     

Share This Page