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Post all your financial planning queries here

Discussion in 'Money Matters' started by charmingpooh, May 26, 2009.

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Jun 2, 2010 #11

shaishav Silver IL'ite

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Re: Good financial consultant in Pune

sansmomy said: ↑

Hi Shaishav,
Thanks a lot for offering help. I would definitely like to get your advice but dont know how to contact. Posting e-mail IDs here is against the forum rules. Could you please send me a private message with your e-mail Id where-in I can send you my details?

Thanks again for the help!

~S.
Click to expand...

Hi S,

I will subscribe to the private message service and then send you my email id.

Regards,

Shaishav

shaishav, Jun 2, 2010

shaishav, Jun 2, 2010

#11
Jun 3, 2010 #12

shaishav Silver IL'ite

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Hi Everyone,

To make it simple and clean for everyone, I am starting this thread for posting all your financial planning queries.

Regards,

Shaishav

Last edited: Jun 3, 2010

shaishav, Jun 3, 2010

shaishav, Jun 3, 2010

#12
Jun 3, 2010 #13

Ooviya Platinum IL'ite

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very gud thread! thank u so much!

Ooviya, Jun 3, 2010

Ooviya, Jun 3, 2010

#13
Jun 4, 2010 #14
shaishav Silver IL'ite

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Hi Radhika,

The first one is a retirement plan and the second one is a whole life plan.

I would suggest you to exit both the plans. The reason is that the maturity amount will not be enough for you to live comfortably in your retirement days and the regular income you will get from the whole life plan will only be enough to pay the electricity bills after 20-30 years.

You should look at making some changes in your insurance and investment portfolio now. The life cover from both the policies is not enough and I am sure that your car is insured for a bigger amount.

I cannot suggest you anything unless I have some more information:

Your & your husband’s age:

If both are working:

Kids (if any): kid’s age

Monthly income:

Monthly expenses:

Investments done so far and where and for what purpose:

Regular investments being made other than the above plans:

EMI’s being paid (if any):

Please send me the above details and I will suggest you a new plan.

Regards,

Shaishav
Last edited: Jun 4, 2010

shaishav, Jun 4, 2010

shaishav, Jun 4, 2010

#14
Jun 4, 2010 #15

aashi1983 Senior IL'ite

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Hi Sahisav,

Thanks for creating this post. I need an advise about our investments. Please find details as below. II have mentioned details only about my self as we do have our family responsiblities & most of my husband's salary goes there.

Your & your husband’s age:My age 26 yrs & husband - 27yrs
If both are working: Yes
Kids (if any): kid’s age- no kid
Monthly income:60000
Monthly expenses:30000
Investments done so far and where and for what purpose:
PPF- 12k every year ( kid's education)
LIC - 52k (retirement)
Tata AIG ULIP - 12k per year (retirement)
UTI MF - 3k / month ( planning to buy house in next 2-3 years would help for downpayment)
HDFC MF - 2k /month ( planning to buy house in next 2-3 years would help for downpayment)
Regular investments being made other than the above plans:
EMI’s being paid (if any): no EMI . Planning to buy new car the expected EMI would be 18000.

I am planning to take Term insurance as my insurance is not enough. Also i think by invesent for our buying house plans is not enough any suggestions would be helpful. Also I would like to gain knowledge about shares so that i can strat investing in it.

Thanks,
Aashi

aashi1983, Jun 4, 2010

aashi1983, Jun 4, 2010

#15
Jun 4, 2010 #16

varshatha New IL'ite

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Hi Shaishav,

I posted an question on another thread and now saw that u have started a new thread.

I am posting it again here.

-----------------------------------

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 day. 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...

varshatha, Jun 4, 2010

varshatha, Jun 4, 2010

#16
Jun 4, 2010 #17

shaishav Silver IL'ite

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Quote:
<TABLE border=0 cellSpacing=0 cellPadding=6 width="100%"><TD style="BORDER-BOTTOM: 1px inset; BORDER-LEFT: 1px inset; BORDER-TOP: 1px inset; BORDER-RIGHT: 1px inset" class=alt2> Originally Posted by ambika04
Hi,
saving.

<LINK rel=File-List href="file:///C:%5CDOCUME%7E1%5CADMINI%7E1%5CLOCALS%7E1%5CTemp%5%20%20Cmsohtmlclip1%5C01%5Cclip_filelist.xml"><LINK rel=themeData href="file:///C:%5CDOCUME%7E1%5CADMINI%7E1%5CLOCALS%7E1%5CTemp%5%20%20Cmsohtmlclip1%5C01%5Cclip_themedata.thmx"><LINK rel=colorSchemeMapping href="file:///C:%5CDOCUME%7E1%5CADMINI%7E1%5CLOCALS%7E1%5CTemp%5%20%20Cmsohtmlclip1%5C01%5Cclip_colorschememapping.xml"><STYLE>  </STYLE>Hi Ambika,

Thank you for your appreciation and I am sure you are one smart investor in making.

I knew at some point someone in this forum will visit www.valueresearchonline.com for fund selection. I must say that this is one of the best website where you can get detailed information about various investment options.

The first 5 funds that you have searched are sectoral funds which invest in a particular sector e.g. pharma, real estate etc. This is also apparent by the name of the funds. The investment in sectoral funds is very risky because if the sector doesn’t perform well you can lose money. These are also called thematic funds.

The next 5 funds you have searched (except the principal PNB) are mid cap and small cap oriented funds. These funds invest in small and mid cap companies but here also the investment is risky because when the market goes up the mid cap and small cap will give you return much higher than the market but when the market is headed south then these companies will give worse returns.

Keeping in mind your time horizon of 3-5 years I had suggested you to invest in balanced fund. Balanced funds are equity oriented funds which invest 60-70% of their net assets in diversified equities and the balance in debt. If you want to search for these funds you should select the following options:

Open >>5 years>>Hybrid: Equity Oriented

If your friend did not know how to search for these funds then you should not consult him again. I am just a shout away to help you out.

Also, you have searched for 12 months performance which cannot tell how good or bad is the fund as last 12 months the market has given close to 100% returns. You should always look for a longer period at least 10 years for selecting the funds to invest. A longer period of consistent returns says a lot about any fund.

Regards,

Shaishav

Last edited by a moderator: Jun 4, 2010

shaishav, Jun 4, 2010

shaishav, Jun 4, 2010

#17
Jun 4, 2010 #18

shaishav Silver IL'ite

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varshatha said: ↑

Hi Shaishav,

I posted an question on another thread and now saw that u have started a new thread.

..
Click to expand...

<LINK rel=File-List href="file:///C:%5CDOCUME%7E1%5CADMINI%7E1%5CLOCALS%7E1%5CTemp%5Cmsohtmlclip1%5C01%5Cclip_filelist.xml"><LINK rel=themeData href="file:///C:%5CDOCUME%7E1%5CADMINI%7E1%5CLOCALS%7E1%5CTemp%5Cmsohtmlclip1%5C01%5Cclip_themedata.thmx"><LINK rel=colorSchemeMapping href="file:///C:%5CDOCUME%7E1%5CADMINI%7E1%5CLOCALS%7E1%5CTemp%5Cmsohtmlclip1%5C01%5Cclip_colorschememapping.xml"><STYLE>  </STYLE>Hi Varshatha,

Good to know that I made your day

I will send you a private message once I subscribe for it. Then we can meet and discuss about various investment options and I can also meet your father so that he will be confident about where you are investing and based on whose suggestion. I think that will be good.

Regards,

Shaishav

Last edited by a moderator: Jun 4, 2010

shaishav, Jun 4, 2010

shaishav, Jun 4, 2010

#18
Jun 4, 2010 #19

shaishav Silver IL'ite

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aashi1983 said: ↑

Hi Sahisav,

Thanks for creating this post. I need an advise about our investments. Please find details as below. II have mentioned details only about my self as we do have our family responsiblities & most of my husband's salary goes there.

Thanks,
Aashi
Click to expand...

<LINK rel=File-List href="file:///C:%5CDOCUME%7E1%5CADMINI%7E1%5CLOCALS%7E1%5CTemp%5Cmsohtmlclip1%5C01%5Cclip_filelist.xml"><LINK rel=themeData href="file:///C:%5CDOCUME%7E1%5CADMINI%7E1%5CLOCALS%7E1%5CTemp%5Cmsohtmlclip1%5C01%5Cclip_themedata.thmx"><LINK rel=colorSchemeMapping href="file:///C:%5CDOCUME%7E1%5CADMINI%7E1%5CLOCALS%7E1%5CTemp%5Cmsohtmlclip1%5C01%5Cclip_colorschememapping.xml"><STYLE>  </STYLE>HI Aashi,

Though I have got used to it but I would still appreciate if you can get the spelling of my name correct.

I guess you are the only one here who had started saving for your kid’s education even when you do not have a kid. Congratulations for that.

Now about the investments you are making. I feel its too complicated and if you follow your future plans, you will fall short of money every month. Following is the reason why:

30,000 monthly saving = 3, 60,000 per year (How much liquid cash do you have now?)

Out of the total savings of 3.6 Lakh you are investing a total of 1.36 Lakh in LIC, PPF, ULIP and SIP which leaves you with 2.24 Lakh which you should have in your savings account at the end of the year. Here 2.24 Lakh is 18,666 per month so, if you buy a car and pay 18000 EMI you will not be left with any money on a monthly basis. I have just made a simple calculation and correct me if I am wrong.

I would also like to know the name of the mutual fund scheme you are investing every month. You are correct that the amount you get from it will not be enough for down payment which will be 4-5Lakh for an apartment of 30Lakh. With your current investment you will be able to achieve only 2-2.2 Lakh. The car loan should be paid off in next 3 years or you will not have enough cash to pay your home loan EMI. Going for a smaller car will be a good idea.

I would like you to do the following:

Bring more flexibility by cancelling the LIC policy, ULIP and stop the investment in PPF which will give you 6333 per month more to invest whichever way you want. Divert 4000 towards your retirement which is enough to build a 5 Crore corpus in next 34 years @15% per annum. Invest the balance 2300 to accumulate for your home loan down payment.

I feel that you do not need insurance as you do not have any dependents but still you can invest approx 4000 annually in a term plan for yourself.

Bring down your expected car EMI to 10k and you will have 8k more to be invested for your home loan down payment. Now you’ll have a total of 15k going for your home loan down payment which should give you 5-6L in 3 years.

I would not suggest you to invest in share market as you can get the same result by investing in mutual funds. We are too emotionally attached to our money and will not be able to cut losses on time and ultimately fall into a trap. For example, you will think a lot and ultimately you may decide not to cancel your LIC policy and ULIP knowing that you will lose money every time you invest and also will not get good returns from your LIC.

I appreciate that you have your goals chalked out quite clearly and the income is also in line to achieve your goals. you just need to manage your money and you can easily achieve your goals.

Let me know if you need more information.

Regards,

Shaishav

Last edited by a moderator: Jun 6, 2010

shaishav, Jun 4, 2010

shaishav, Jun 4, 2010

#19
Jun 5, 2010 #20

ambika04 Gold IL'ite

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Dear Shaishav,

once again thank you.I got some clarity.I will speak with my bank agent and get back to you for further clarity.It would be of great help if you suggest about SIP I have a/c in karnataka bank also & they have in M/s. Franklin Templeton Asset Management India (P) Ltd.:spinThey are suggesting to stop my RD & to go with Franklin SIP for 1 year.Please suggest what are the other options & whether i can go for it?

ambika04, Jun 5, 2010

ambika04, Jun 5, 2010

#20

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