Hi Shaishav, Iam new for this forum, especially for this money matters part. The words mutual funds, LIC ect ect are totally foreign for me :confused2:. Iam earning 25,000 per month for an year by now, and not invested on any funds so for... only thing iam doing is paying around Rs 5000 per month for 1 lkh on a trusted chit as per my dad's advice... It is a 20 months pay and i have done almost 16 months. Think there is some LIC for me payed by dad. I know iam looking very stupid here but please help with your kind advice. Iam 26 years old. Not yet married. May get married in another year. Would like to invest on less risk short term plans like 20 - 30 months which will give me an bulk amount. Can save until 15,000 per month until marriage... Please kindly help me with my investments... Thanks in advance
<LINK href="file:///C:%5CDOCUME%7E1%5CADMINI%7E1%5CLOCALS%7E1%5CTemp%5Cmsohtmlclip1%5C01%5Cclip_filelist.xml" rel=File-List><LINK href="file:///C:%5CDOCUME%7E1%5CADMINI%7E1%5CLOCALS%7E1%5CTemp%5Cmsohtmlclip1%5C01%5Cclip_themedata.thmx" rel=themeData><LINK href="file:///C:%5CDOCUME%7E1%5CADMINI%7E1%5CLOCALS%7E1%5CTemp%5Cmsohtmlclip1%5C01%5Cclip_colorschememapping.xml" rel=colorSchemeMapping><STYLE> <!-- /* Font Definitions */ @font-face {font-family:"Cambria Math"; panose-1:2 4 5 3 5 4 6 3 2 4; mso-font-charset:1; mso-generic-font-family:roman; mso-font-formatther; mso-font-pitch:variable; mso-font-signature:0 0 0 0 0 0;} @font-face {font-family:Calibri; panose-1:2 15 5 2 2 2 4 3 2 4; mso-font-charset:0; mso-generic-font-family:swiss; mso-font-pitch:variable; mso-font-signature:-1610611985 1073750139 0 0 159 0;} /* Style Definitions */ p.MsoNormal, li.MsoNormal, div.MsoNormal {mso-style-unhide:no; mso-style-qformat:yes; mso-style-parent:""; margin-top:0in; margin-right:0in; margin-bottom:10.0pt; margin-left:0in; line-height:115%; mso-pagination:widow-orphan; font-size:11.0pt; font-family:"Calibri","sans-serif"; mso-ascii-font-family:Calibri; mso-ascii-theme-font:minor-latin; mso-fareast-font-family:Calibri; mso-fareast-theme-font:minor-latin; mso-hansi-font-family:Calibri; mso-hansi-theme-font:minor-latin; mso-bidi-font-family:"Times New Roman"; mso-bidi-theme-font:minor-bidi;} .MsoChpDefault {mso-style-type:export-only; mso-default-props:yes; mso-ascii-font-family:Calibri; mso-ascii-theme-font:minor-latin; mso-fareast-font-family:Calibri; mso-fareast-theme-font:minor-latin; mso-hansi-font-family:Calibri; mso-hansi-theme-font:minor-latin; mso-bidi-font-family:"Times New Roman"; mso-bidi-theme-font:minor-bidi;} .MsoPapDefault {mso-style-type:export-only; margin-bottom:10.0pt; line-height:115%;} @page Section1 {size:8.5in 11.0in; margin:1.0in 1.0in 1.0in 1.0in; mso-header-margin:.5in; mso-footer-margin:.5in; mso-paper-source:0;} div.Section1 {page:Section1;} --> </STYLE>Hi Varshatha, I would like to make it very clear that you are not looking stupid at all by asking about investments at age 26. A lot of ILs here are married and 30+ and have not done any major investment. I would say that you are looking the smartest here. Even I did not start investing at 26. You can continue with your chit fund investment as only 4 months are left but going forward please avoid such investments. A chit fund will give you 2-3% return per annum. Now regarding the LIC, let your dad pay for it till the time he wants to continue paying. But you should keep the following details with you all the time: Premium to be paid Sum Assured Policy term Maturity date For your proposed amount of 15k per month for 30 months (I will take it as 3 years) I would suggest you to start a systematic investment plan (SIP) in a balanced mutual fund for 36 months. I am also from Bangalore. I will send you a private message with my contact details and then we can take it forward. Kind Regards, Shaishav
Hi Shaishav, Thanks a lot for the kind response. I was so worried when people around me in my office started talking something like mutual fund, LIC ect, i didn't understand anything... I thought going through IL will help me to understand something about them... Thank god, really it helped me with such a nice investment planner... Especially with your patting words u have made my dayBow. And please send me a private message. I really have so many doubts about these investments. This should be paid every month or can i make it once a year as a lump amount? Last year i payed my tax fully as i had not invested anything on tax savers. How can i save my tax amounts? Please expalin more about SIP and balanced mutual fund. It wil be really helpfull if you share your knowledge and advice for the beginers like me. I hope it will be usefull for all of them like me. You are really making a great service for us. Hundred thousand thanks to you...:thankyou2:
Hi Shaishav, thanks for your valuable advice. You have provided very useful information to me. Thanks to you once again.
Hi Durga, I do not remember giving you any information. Are you referring to my posts in money matters? Regards, Shaishav
Hi! I have been reading your posts regarding money matters.. you are doing a wonderful job by educating us. thank u. Here is my doubt.. 1. regarding SIP - I have already invested in an SIP (SBI) for one year, is it possible for me to extend it to another 4 years so that would make it 5 years. or should i close the current one after one year and start a fresh one.. 2. Since the current SIP is thro' SBI i contacted the bank for the procedures. if i have to invest in other mutual funds (as suggested by you ie in HDFC and DSPBR) whom should I approach? 3. if we have a lumpsum amount which is the best option to invest in order to get good returns.. Bank FD or Post office MIS. I know abt only these two.. if there is any other please educate me.. Thanks in advance. regards ksv
Hi Shaishav I hv bn going thru your guidance and valuable advice on various savings scheme for iLs. We have few Mutual Funds investments, which are in Growth fund invested few years before, which still there. We have few equity investments also, which we continue to have. Few months before, we thought of either closing small investments and combine together in better yielding funds. But our broker advised that they are all good funds and no need to close any and to continue them. So we are holding them. Do you have any suggestions on this? Also how is the New Sbi PSU Fund and Birla Sunlife India Reforms Fund (closes today)? Shall we move the small times ones that we have to SBI? Is it advisable? Secondly, if I want to save in my daughter's name (22) what are the best options available that would provide a timely need within 2 years for wedding expenditures? Lastly, there is a driver in my office who has as per my advice invested Rs.5000/- in a mutual fund 2 years before and now the value is close to Rs.6000/- for which he is very grateful. He is interested in an SIP wherein he can save monthly certain amount. He has 2 daughters of 14 and 9 years old. He also wishes to plan some saving for their education and marriage. What are the best options? I will be obliged to receive a reply from you. Best Rgds Shanti
Hi KSV, Thanks for your appreciation. Please find my answers in red. 1. regarding SIP - I have already invested in an SIP (SBI) for one year, is it possible for me to extend it to another 4 years so that would make it 5 years. or should i close the current one after one year and start a fresh one.. I would like to know which scheme you have invested in..you can extend your SIP and for duration you will have to contact your Asset Management Company (AMC) in this case its SBI Mutual Fund. What is the amount you have invested and what is the current value ? 2. Since the current SIP is thro' SBI i contacted the bank for the procedures. if i have to invest in other mutual funds (as suggested by you ie in HDFC and DSPBR) whom should I approach? You need to contact the respective AMC. You can google HDFC Mutual fund and DSP Black Rock mutual fund and contact the entres in your city. You can also invest online through internet banking after you have submitted your KYC )Know your customer) documents. 3. if we have a lumpsum amount which is the best option to invest in order to get good returns.. Bank FD or Post office MIS. I know abt only these two.. if there is any other please educate me..I can suggest you better options based on the purpose of investment and how long you can stay invested. Kind Regards, Shaishav
Hi Shanti, First of all hats off to you and congratulation for suggesting mutual fund investment to your driver. In this world today when poor is becoming poorer and rich is becoming richer your effort is commendable. Congratulations once again. Please find my answers in red. I hv bn going thru your guidance and valuable advice on various savings scheme for iLs. We have few Mutual Funds investments, which are in Growth fund invested few years before, which still there. We have few equity investments also, which we continue to have. Few months before, we thought of either closing small investments and combine together in better yielding funds. But our broker advised that they are all good funds and no need to close any and to continue them. So we are holding them. Do you have any suggestions on this? Please name the schemes you have investments in as I would be able to give my suggestions only after that. Also how is the New Sbi PSU Fund and Birla Sunlife India Reforms Fund (closes today)? Will only be able to suggest after knowing your current investments Shall we move the small times ones that we have to SBI? Is it advisable? Will only be able to suggest after knowing your current investments Secondly, if I want to save in my daughter's name (22) what are the best options available that would provide a timely need within 2 years for wedding expenditures? I would suggest you to go for a fixed deposit or a fixed maturity plan. I will suggest you some in my next post. Lastly, there is a driver in my office who has as per my advice invested Rs.5000/- in a mutual fund 2 years before and now the value is close to Rs.6000/- for which he is very grateful. He is interested in an SIP wherein he can save monthly certain amount. He has 2 daughters of 14 and 9 years old. He also wishes to plan some saving for their education and marriage. What are the best options? He can leave the lump sum investment for his elder daughter and also start SIP in balanced mutual fund for 3 years after which his daughter will require funds for college education. For his younger daughter I would suggest to start a SIP in diversified equity mutual fund. Which scheme he has invested 5000? Kind Regards, Shaishav
