Dear sir,
At the age of 49 i m having only salary money approx 50,000 -Plot,Flat to save rental income and nothing in cash in hand except 2 lic policies of rs 28,500 per year and one loan emi of rs 12000/-.
Expenses are children education, marriage, house making on loan if possible,retirement etc. I can invest per month approx rs 5000. Kindly let me know some of d best MIP mutual funds in which i can earn per month Rs 5000/-as MIP to compensate loan emi of rs 12000 per month? and some of best balance & diversified mutual funds only two in each categories? Whether SBI Pharma & UTI Transport Fund will be good for me?
4 Answers
Hi,
Kindly note that though the name of MIP stands for monthly income plan they do not guarantee you regular or constant periodic income.
May I know your LIC policies details (plan name, commencement date & tenure).
The mentioned funds are sector oriented funds. If you are new to MF investments, suggest you to avoid such funds.
Kindly go through this article:
http://www.relakhs.com/personal-financial-planning-articles-list/
one is endowment policy of rs 3221/ per year from february 2000 and another lic policy is jeevan saral of rs 25000 per year premium from year 2010. newe to mf investment and then how can i earn from mf thru balance funds , elss , debt funds which will bwe better for me.
Hi,
I believe that you are under-insured. Your first priority can be to get a term insurance plan and then can discontinue the existing life insurance policies.
Kindly read:
http://www.relakhs.com/traditional-life-insurance-plan/
http://www.relakhs.com/insurance-importance-life-health-accident-covers/
http://www.relakhs.com/best-online-term-insurance-plans-india/
You may consider investing Rs 5000 for your Kid's education goal purposes. May I know the time-frame for this goal??
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