K. thank u so much!! I am searching gud financial planner in chennai. If it may me one of our IL'S... am very happy....
Hi Ooviya, If you are ready to invest 5000 a month I would suggest you to go for two mutual fund schemes with an investment of 2500 each. The schemes I would suggest are: DSP Black Rock Equity (Growth Option) HDFC top 200 (Growth Option) You can always contact a financial planner in your city but my only concern is that you will not get unbiased advice. You may also be advised to buy something else which will not solve the purpose. Here are some questions for you: Are both of you working? Is the monthly surplus only 5000? what is the insurance cover you have? Are you investing 120000 pa to save taxes? Even if any of your IL's advice you and selling you the product you may not get biased information. My advice will be to just be careful when investing but start as soon as possible. Regards, Shaishav
Hi B Chandra, I would like to ask you only one question. What is your idea behind investing in Gold? We will discuss after your reply. Regards, Shaishav
My hubby only working. V already covered Tax Exemption RS.1 Lakh thru Nsc, ULIP and LIC. Other than that v r paying Housing loan -EMI around 20,000 PM. So meeting above all expenses and savings, v have surplus around 5,000. Thank u so much for ur kind attention and detailed replies. Thanks a lot.....
For ELSS, I prefer HDFC tax saver(G), I personally invested in it and there was a really a good growth of 15% per each unit for 3 yeras. Shaishav, If I wanted to invest 1 lkh for per month, what is the best deal I can go for which has less risk and should yeild longterm benefits.
Hi Priya, I am personally overweight on HDFC taxsaver. Before suggesting anything plan for your proposed investment I would like to know your age and also the purpose you want to invest this amount. I would then be able to make a suggestion which will be good for you. Regards, Shaishav
Shaiv Thanks alot, I would follow this thread closely to get more clarifications as I see that several of us are asking questions on similar grounds.
SHaishav, I am 28 and my husband is 30 and we have a 2 and half years son. Purpose obvioiusly for a better future whch includes a house,kid's education,better retirement,on going expenditure.
Hai Shaishav, I need more details on Gold ETFs. I'm presently in gulf and would like to know how to buy this scheme, Looking for long term requirement say 10-15 yrs for 10 lacs.How can i move forward. what are the requirements for this? Is it one time or monthly option available? How much minimum/ maximum amount? How can we redeem it? Can we buy/sell it online? Please explain it in detail.Am planning to do it during my India visit in July/august. Thanks.
Hi Priya, I will explain in the order of importance (according to me) and some assumptions: Kid's Education: Age of Child - 2.5 Age of child when need comes due - 17 for UG and 21 for PG Lumpsum required for Education of Child at today's cost - 10 L for UG and 15 L for PG What do you anticipate would be the rate of inflation - 10% in India Future Value of your need - 3,982,850 for UG and 5,831,290 for PG Investment required to achieve your goal: Rs 6400/ month for 15 years for UG and Rs 4900 / month for 19 years for PG (Assuming a return of 15% per annum) Suggested investment: Invest in 3 Diversified equity mutual funds schemes of amount 4000 each. Also take a life cover of 40 Lakh on the earning member of the family (if both are earning take life cover according to the income). ONLY BUY TERM INSURANCE. The above calculation is on my assumption and will change according to the choice of education your kid wants. If he wants to study medical then the amount you need will be much higher as medical education today costs around 20 L - 50 L in India. Other calculations in next post. Regards, Shaishav
