Post all your financial planning queries here Part-2

Re: Post all your financial planning queries here

Hello Rekha,

Thank You for your kind words and my apologies for replying late.

Its good to start investing early. If you ask the best of the experts in the world on the best of the best of the best investment strategy on can follow, I am sure the reply will be START EARLY.

My first suggestion to you is stop all investments currently made by you. This is the right time as you have not invested much.

Do not take insurance of any type if you do not have dependents. If you have dependents and need to take insurance, you should opt for a term insurance plan only. You should make investment to the maximum limit of tax exemption available to you.

Currently the only goal I can suggest you is your retirement. What is your monthly expenditure and from the details you have provided I am assuming you can invest around 7k per month.

I would suggest you to start investing in diversified equity mutual fund like HDFC top 200. you can invest the full amount of 7k in this fund.

Now about share market, it gives good returns and there is no doubt about that but still there are many TRADERS who lose money. In share market only investors make money and there is no sure shot formula of making profits only in short period. If you want to invest and stay invested atleast for medium term I can suggest stocks.

You should not invest in any pension plan and make your own retirement plan and invest accordingly. The 7k you will invest in HDFC top200 will be towards your retirement.

Let me know if you have any questions.

Regards,

Shaishav

 

Re: Post all your financial planning queries here

Shaishav

Could you please clarify this one? I too have the same question...Thank you

 

Re: Post all your financial planning queries here

I think its too late for me answer this.

Regards,

Shaishav

 

Re: Post all your financial planning queries here

Hi,

will u pls tell me how to invest in the following??? and i contact whom??/ what is d proceedure to invest in it???

Diversified equity – HDFC top 200 and HDFC top Growth 200
Midcap fund – IDFC premier equity plan A
Sectoral fund – ICICI prudential infrastructure or DSPBR TIGER fund.

 

Re: Post all your financial planning queries here

Ooviya:

You can contact nearest AMC's (Asset Management Companies) of your choice or CAMS. Recently I started a SIP in HDFC Top 200. I contacted the HDFC AMC, since I have an account in HDFC they helped me to open an ISA (Investor Services Account) in which all the transactions will be online. It was very user-friendly and I started investing in it. Please go through the fund houses website and you may get clear idea. These are the information know to me. We'll wait for the experts to answer your queries. BTW, its just HDFC Growth fund and not HDFC Top growth 200.

 

Re: Post all your financial planning queries here

Thanks a lot Deepa!! will u pls tell me which one is best for FLOATER MEDI CLAIM AMONG:

1.STAR
2.APOLLO
3.LIC
4.NEW INDIA
5.IFFCO

and WHICH ONE IS OFFER BEST PENTION PLAN??

 

Need info on good investment plan

Hi ILS,

I m planning to take insurance policy for my DH. He is 27 years old and is working in an IT company. We can invest till 20k an year.

Please suggest me good plan having good returns. This is also for tax saving.

Please provide your valuable inputs.

Lavanya.R.

 

Re: Need info on good investment plan

Dear Lavanya
First and foremost take Medi claim and personal policy (covering both you and your DH) (yearly it wll come around 17 to 20K ) very useful for both.
Then take LIC policy (it is aval quarterly half-yearly and yearly) it is Govt. org. you are safe. And you have lot of options to choose.
next to LIC policy HDFC standard life insurance or Aviva insurance.

the above both investments have tax saving under 80C and 80D

We have SIP in all banks (systematic investment plan) for one year / two year you can choose and the minimum is 1000 p.m.
Then open Demat account with that buy very small shares for this your bankers will help you out what to buy and what not to buy etc.
When you are technically ok with share market you can swim in that.
Wish you a happy investment.
kantha

 

Re: Need info on good investment plan

Lavanya,
First and foremost, insurance and investment are two different options. Insurance is for safety not for returns for sure.
But if you are keen on insurance, go for LIC ratherthan private insurance providers.

 

Re: Need info on good investment plan

Hi Lavanya

You may go for TATA AIG if interested in pvt sector other than LIC. They have good schemes.

Best Rgds
Shanti