Hi Sreekanth,
I am a follower of your blog, Good work and keep going.
My age is 32 and married. My wife is a dependent and I have a year old daughter
I have term insurance for 1 crore in ICICI followed by four lic polices for me and wife approx around 1.5 lacs/ year (Jeevan Anaad & Money Back Policy).
I Pay a monthly recurring deposit and sukanya samridhi scheme for my daughter as well
I am willing to invest in mutual fund as the returns are good, can u please guide me in this?
My agent is advising me to invest in SIP of birla and sbi, I can afford an monthly investment of 5000 - 10000 for mutual fund
Can I invest in sip of mutual fund? Please suggest if there are any other good scheme in mutual fund
I am not good in Mutual Funds, My friends are suggesting me to invest in ELSS.
Please suggest, what should i do in this?
1 Answers
Hi,
1 - Kindly provide details of your LIC policies (Plan name, commencement date & tenure). If your wife is not an earning member of your family, she does not require life insurance cover.
2 - Do you have Personal Accident insurance cover? What about health insurance for self/family?
3 - ELSS funds are one of the best long-term wealth accumulation tools and can also be used to claim tax deduction under section 80c. Kindly note that investments under ELSS funds are locked for 3 years.
Kindly read below articles and you may revert to me;
http://www.relakhs.com/calculate-kids-education-goal-amount/
http://www.relakhs.com/retirement-planning-calculator-3-easy-steps/http://www.relakhs.com/personal-financial-planning-articles-list/
http://www.relakhs.com/top-6-best-elss-tax-saving-mutual-funds-invest-2016/
http://www.relakhs.com/list-of-best-investment-options-schemes-in-india/
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