Hello Mr. Srikanth, wanted to get a suggestion from you. We are a family of four and our only asset is an independent house. We have no EMI. Though late, we have started investing in insurance and Mutual funds. About 40-45% of our income is invested in these two, apart from school feels/transportation fees/ groceries etc.
My two children are in high school now. Looking at the education expense, we are really worried. We don't know how will we be able to make so much to pay such expense.
Can you suggest ways to invest so that in another 2 years we have sufficient fund to support my children in what they want to do? Also, we were given an opinion of not investing in property as that wont yield good returns if we want to use it for their education in the future. I am wanting to buy house and give it for rent as a steady income for us when we retire. Please suggest if this is a good idea as well?
2 Answers
Hi,
May I know what type of Insurance plans have you invested in?
Your high priority goal as of now is 'Kid's education' , so suggest you to plan for it and can consider Retirement plan as your next high priority goal.
You may post-pone the house purchase decision until you get a clarity on Kids' education (what they want to study in their higher education, how much does it cost..etc.,).
Kindly go through below articles and may revert to me with your analysis ;
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