Help on Investment

Hi, Kindly share more details on the below;

• LIC plans details : Scheme names, Commencement Date & Tenure.
• Is your health insurance policy a stand-alone one or employer's group policy?
• Is your brother completely dependent on you? Besides his marriage expenses, do you have any other financial obligations towards him?
• Do you show your owned house as LET-OUT one and claim HRA?
• Where do you save (avenues, which products) for your Emergency fund?

Meanwhile, kindly go through below articles;

• Financial Planning Pyramid..
• If LIFE is unpredictable, insurance can not be optional.
• How to create a Solid investment plan?
• The 6 most common Personal Finance Mistakes..  

Hi, (below are my suggestions - in reply to your 'private' question) 1 - Suggest both of you to buy Term insurance plans at the earliest. 2 - Consider buying a stand-alone Personal Accident Insurance plan. 3 - You can make the existing life insurance plan (Jeevan Saral) a PAID-UP policy. These kind of plans may lead to erosion of your wealth. 4 - Your brother can also take a health cover (individual mediclaim). 5 - May I know who is staying in own house? Is your total interest payment on home loan in a Financial Year is less than Rs 2 Lakh? 6 - Emergency Fund : You can maintain roughly around 6 to 10 times of your monthly expenses as E.Fund. 7 - Brother's marriage expenses: Use the calculator available in this article to estimate the approx savings required to achieve the goal amount.  As the goal year is 5 years from now, you may consider investing in a Balance fund + FD + MIP Fund. 8 - Also, consider investing for accumulating your 'retirement corpus' from now itself.  You may consider investing in Mid & small cap funds + Diversified equity fund. Kindly go through below articles;  

• How to get rid off unwanted life insurance policy?
• Term insurance Vs Traditional plans life Jeevan Saral
• Best portals to compare health insurance plans
• Best Term insurance plans
• Best Personal Accident Insurance plans
• Retirement goal planning & calculator
• List of best investment options.

Hi, Example : HDFC Balanced Fund + Birla Sunlife MIP II wealth 25 plan. (Towards Brother's marriage expenses goal). For long-term goal : Suggest you to check for any high portfolio overlap among the funds you have shortlisted. Also, you may add one Small cap or mid-cap fund if your investment horizon is say >10 years. Read: MF portfolio overlap analysis tools. (This reply is based on your Private query)

Dear Sreekanth, After reading your blog me and my spouse have learnt so many things regarding Financial Planning. We have decided to invest in the options below:- 3000/- SIP in Axis Long Term Equity Fund from my salary 2000/- SIP in Franklin for 3 years from my spouse's salary 50% of our savings (very little thought) invested into Tata Balanced Fund for 3 years and rest 50% into my wife's PPF A/C We are converting our LIC premiums (24k + 24k) into Paid Up Policy We are allocating 5000/- pm into Recurring as Emergency Fund (Family). Can you suggest any better option? We are allocation 7000/- recurring pm to pay off the Home Loan Principal Amount. We are awaiting your advice on how many years I should go for Term Insurance (ICICI)? Also we would very grateful if you advise that shall we go for a Super Top Up along with National Insurance Mediclaim You help would be much appreciated for our family.

Hi, May I know the scheme name of Franklin? Kindly first take the Term plan(s) and then discontinue LIC plans. You can allocate the saved premium (if any) to Mutual Fund Investments. You can also consider allocating certain portion of your savings into a Liquid Fund (towards Emergency Fund). But your priority should be the 'safety of capital'. So. cash, then FD/RD and then Liquid debt fund can be your priority. Suggest you to invest for long-term goals instead of accumulating money for pre-paying your home loan outstanding amount. Kindly read: Best Super Top-Up Health insurance plans.