Post all your financial planning queries here

<LINK href="file:///E:%5CDOCUME%7E1%5CGuest%5CLOCALS%7E1%5CTemp%5Cmsohtmlclip1%5C01%5Cclip_filelist.xml" rel=File-List><LINK href="file:///E:%5CDOCUME%7E1%5CGuest%5CLOCALS%7E1%5CTemp%5Cmsohtmlclip1%5C01%5Cclip_themedata.thmx" rel=themeData><LINK href="file:///E:%5CDOCUME%7E1%5CGuest%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:0; mso-generic-font-family:roman; mso-font-pitch:variable; mso-font-signature:-1610611985 1107304683 0 0 159 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-fareast-font-family:"Times New Roman"; mso-bidi-font-family:"Times New Roman";} .MsoChpDefault {mso-style-type:export-only; mso-default-props:yes; font-size:10.0pt; mso-ansi-font-size:10.0pt; mso-bidi-font-size:10.0pt; mso-ascii-font-family:Calibri; mso-hansi-font-family:Calibri;} @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 Ooviya,

A couple of question for you:

Do you want to take this up as a career or you want to do this for knowledge enhancement?
If you don’t know anything about share market how did you manage to complete one module of NCFM?

Insurance is the best industry you can work in and this you will realize when you will give your first death claim cheque to a nominee. You will realize that it’s a noble job. The opportunity of making money is also good but you should sell products ethically and the client should always be educated about the policy and not sold the policy. If you contact one of the insurance companies in your city they will give you training and also arrange for the paper work to appear for the IRDA exam (this is compulsory for getting the insurance agent license). You can also go for CFP certification. Google the word CFP and you will get the website and can get more information from there.

Now, about investment for your brother.

Thank u so much... Term plan for how many yrs , he will pay 5000 p.a???? do u know gud financial adviser in chennai reg. mutual invest???

[FONT=&quot]You can contact your bank or the respective asset management companies for investing in mutual funds. Regarding the insurance plan, a 5000 p.a. will get him a cover of approx 20 lakh plus which will be enough for now and later on when he gets married and plan to have kid he would be required to increase the cover according to his life goals.

[FONT=&quot]Regards,[/FONT]

[FONT=&quot]Shaishav[/FONT][/FONT]

 

Shaishav,
Just a quick question. Is it worth spreading money in various mutual funds or just holding in few funds?

My portfolio says - I have 8 funds as of now
4 of them are ELSS(lockin got over and free now)
2 of them are in ELSS lockin
2 of them are equity oriented with Open-ened.

What is your advice??
Btb, With all your inputs, I contacted insurance guy and going to close couple of ULIPs (which is pretty huge) and planning to take term plans on earning member. But now, I dont know where to put this amount.
In my case, we being working couple, can we take a joint term plan??

One more query - My father is retired recently and they have their post retiral benefits in various FD's. What is your advice on them? I asked him to put in MF's, but he can't takeup any risk at this point. Can you suggest some risk free MF's with marginal benefits than FD rate???

 

<LINK href="file:///E:%5CDOCUME%7E1%5CGuest%5CLOCALS%7E1%5CTemp%5Cmsohtmlclip1%5C01%5Cclip_filelist.xml" rel=File-List><LINK href="file:///E:%5CDOCUME%7E1%5CGuest%5CLOCALS%7E1%5CTemp%5Cmsohtmlclip1%5C01%5Cclip_themedata.thmx" rel=themeData><LINK href="file:///E:%5CDOCUME%7E1%5CGuest%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:0; mso-generic-font-family:roman; mso-font-pitch:variable; mso-font-signature:-1610611985 1107304683 0 0 159 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-fareast-font-family:"Times New Roman"; mso-bidi-font-family:"Times New Roman";} .MsoChpDefault {mso-style-type:export-only; mso-default-props:yes; font-size:10.0pt; mso-ansi-font-size:10.0pt; mso-bidi-font-size:10.0pt; mso-ascii-font-family:Calibri; mso-hansi-font-family:Calibri;} @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 Priya,

Investing in more number of mutual fund schemes is not wise. You should pick the good funds say a maximum of 5 in number and keep topping up your investments in those schemes. The reason is that the chance that you will get better returns by investing in more number is schemes are zero. So, always keep it simple.

You should invest in ELSS only to the extent you can get tax exemption and reduce the no. of funds to one. I remember from your older posts that you have invested in HDFC Tax Saver. Keep investing in the same fund. The other two are equity oriented or diversified equity? Equity oriented funds are balanced funds which has a 0-30% debt investment. If you are investing for long term you should invest in diversified equity funds and you can also include on mid cap fund in your portfolio.

You can finish the process of closing the ULIPs and once you have funds in hand we can discuss about what to do with the funds and which term plan to take. I would not suggest a joint term plan.

For your father I would suggest him to deposit his money in senior citizen fixed deposit which will give him 9% p.a. I think this will be the best investment without risk for him.

Kind Regards,

Shaishav

 

Shaishav,
Thanks for your reply. So, I dont bug my father to invest in MF's :thumbsup.
Yes, will close all ELSS MF's too which has crossed lockin.
The funds are equity diversifed I believe.

1. ICICI Discovery fund
2. Sundaram BNP Paribas SMILE Growth.
How are these funds??

 

Hi Priya,

Both the funds are good and you can stay invested in both for long term. You can look at a bluechip fund like HDFC Top 200 or DSPBR Top 100.

Regards,

Shaishav

 

Hi Saishav
Went through all our answers for financial questions. I need some sugestions/guidence on how and where to invest our money. Iam in US and not working right now. The only income is from my husband. He is earning monthly $5000. We just bought a house here and paying monthly payment of $1230. We dont have any kids at present. Kindly suggest some good investment options here as well as in chennai.

 

Hi,

Me and my husband salary will be around 30k and 15k for expenditure.

I m having jeevan anand and one more met life policy which i m going to stop depositing as i completed 3 years.

please suggest as some plan which provides good returns. Our goal is to get home, Child plan and retirement plan.
Waiting for ur valuable suggestion.

Please provide me options with tax saving.

 

Shaishav

Could you please suggest reg. the above? I checked with the main post office and they said its not available for NRIs so I was thinking of starting the a/c in IPO on my parents name and to keep my name as beneficiary.! Is this a good idea?? or do you think investing in MFs is a good take? Appreciate your suggestion

 

Hi Sri,

I will go with a mutual fund if the investment time horizon for SIP is more than 3 years. The reason is that if you want to invest small amount every month only mutual funds will give the maximum inflation adjusted returns. With you time horizon of 5-7 years I would suggest you can go for 2 funds HDFC Top 200 and DSPBR Equity.

Kind Regards,

Shaishav

 

<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:Wingdings; panose-1:5 0 0 0 0 0 0 0 0 0; mso-font-charset:2; mso-generic-font-family:auto; mso-font-pitch:variable; mso-font-signature:0 268435456 0 0 -2147483648 0;} @font-face {font-family:"Cambria Math"; panose-1:0 0 0 0 0 0 0 0 0 0; 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;} @font-face {font-family:Verdana; panose-1:2 11 6 4 3 5 4 4 2 4; mso-font-charset:0; mso-generic-font-family:swiss; mso-font-pitch:variable; mso-font-signature:536871559 0 0 0 415 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-fareast-font-family:"Times New Roman"; mso-bidi-font-family:"Times New Roman";} span.apple-style-span {mso-style-name:apple-style-span; mso-style-unhide:no;} .MsoChpDefault {mso-style-type:export-only; mso-default-props:yes; font-size:10.0pt; mso-ansi-font-size:10.0pt; mso-bidi-font-size:10.0pt; mso-ascii-font-family:Calibri; mso-hansi-font-family:Calibri;} @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;} /* List Definitions */ @list l0 {mso-list-id:276986842; mso-list-template-ids:811371394;} @list l0:level1 {mso-level-number-format:bullet; mso-level-text:; mso-level-tab-stop:.5in; mso-level-number-position:left; text-indent:-.25in; mso-ansi-font-size:10.0pt; font-family:Symbol;} ol {margin-bottom:0in;} ul {margin-bottom:0in;} --> </STYLE>Hello Lavanya,

Please send me your information in the following format:

• Your & your husband’s age:
• If both are working:
• Kids (if any): kid’s age
• Monthly income(Your and your husband's)
• Monthly expenses(Combined):
• Insurance policies (life insurance, health insurance etc): name of the policy, annual premium and sum assured.
• 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):
• Goals identified: like child education, retirement,
• Current value of goals: -
• Investments done for tax saving:

Kind Regards,

Shaishav