Hi sir,
I regularly visit your site. Very informative.
I am 32yrs and my husband 36 yrs. we have two girl children (7 yrs and 1 yr). I get 23k I work for PSU bank and my husband get 80k. We have some FDs and two Mfs(ute equity fund 3rs locking period for 3k per month) and birla sunlife manufacturing fund from rs.3k per month.
We have own house in Bangalore near k r Purim. We have not t taken house loan for that house as it is b katha(we didn't know that we don't not get like an).
My husband comes under 30% bracket I'm not coming back under tax bracket. So now we wanted to buy a house/ flat near Bangalore or tirupathi only for the purpose of using this tax benefit by taking loan and using our FDs. What is ur idea in this. My husband has company insurance. We don't have separate health insurance. Is it required the take insurence. If yes which is good.we regret all the time because of not taking home loan and exhausted our money.
As iam bank staff I will get some amount may be 12lahs(it may increase depends upo n service)with 7% simple interest. At the same time we think that houses are no value in future but how to utilize this benefit. A
nother query I have that I wanted to invest in stocks.i have sbi Demat account. I purchased bhel and idfc for 5k but no growth. Later I lost my interest but now I wanted to learn. Is there any classes to teach the strategies ( of course nobody predict the market conditions). I want some ways to think about market. Any website or classes. Please reply to all my queries.
Thank u
3 Answers
Hi, Mutual Funds :
Is it 3 year lockin period or your SIP period? May I know the reason for investing in Birla Manufacturing Fund?
Life Insurance : Do you have any existing life insurance policies?
Health Insurance: Yes, suggest you to get the health insurance cover for the entire family. Kindly buy an independent policy. Do not depend on Employer's group cover alone.
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Suggest both of you to take stand-alone Personal Accident Cover too.
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Second Property : Are you planning to use up the existing FDs/investments to pay the down-payment? Have you invested /investing adequately for high priority goals like retirement & Kid's education?
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May I know what do you mean by 'houses have no value'??
Sir, I don’t have any life insurence but I have personal accident insurence which is iam paying 500per annum to SBI( as bank is giving PAI for 20lak).for retirement goal iam payiing for EPF as iam bank employee. Kids purpose iam paying for sukanya samruddi scheme of rs.50k per annum to both the kids. And we have some FDs. Mutual funds:– we took 3 yrs locking uti fund as sip per month 3k. And birla sunlife manufacturing fund as SIP 3k per month(one agent suggested).no health insurence planning to take. Buying of house for investment purpose . We have exhausted all our 80c limit.is it Gud idea taking home loan only investment purpose as we r staying in own house(no home loan).
Hi,
If both of you do not have adequate Life insurance cover then it is your high priority action item, to get adequate cover by buying Term plans (for self & spouse).
Kindly read: Best Term insurance plans.
Also, suggest to take independent Health insurance cover. (Kindly go through the links that I have shared in my previous answer).
Kindly download the calculators (shared in my previous answer) and calculate the approximate required amount of savings to achieve Kid's education goal & retirement goal.
If you believe that you have made or investing adequately towards these high priority goals then you may go ahead with your property purchase.
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hi srikant, greeting of the day. i have 1.5 lkh for the investment.. initially i opted for mis,someone suggested me to go for sbi mutual fund, i never involved in mutual fund investment, pl suggest me which would be the best investment plan. i have six year time in my kitty. i already have one mis of same amt. rs 6000 /pm in rd at post office. aviva life insurence growth fund ii for 10 years. i am centre govt employee. have enough ppf subscription for future which is almost(rs 2.4lkh/ anum). namish
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