Our per month combined salary 1 lakh 20 thousand. Saving portfolio: PPF-15L, EPF: 4L, FD:4L, Sukanya: 3lakh. Apart from this we have own house (EMI: 22 thousand, paying since sep 2013). Apart from this we have not done any retirement planning. Please can you guide us where to invest.
i want to invest in at least 8% return scheme. are debt funds the answer to my question. also for how long and which ones do you suggest?
2 Answers
Hi,
May I know your financial goals and their time-frame(s)?
Do you have dependents? May I know if you have adequate health insurance cover?
Hi,
1 - Based on your profile, getting adequate life insurance cover and Personal accident insurance cover are of high priority.
Kindly read :
https://www.relakhs.com/insurance-importance-life-health-accident-covers/
https://www.relakhs.com/financial-planning-pyramid-wealth-protection-accumulation-distribution/
https://www.relakhs.com/best-online-term-insurance-plans-india/
https://www.relakhs.com/best-personal-accident-insurance-policies-in-india-details-comparison/
2 - Suggest you to get stand-alone Family floater medical cover. Do not depend entirely on Company provided group cover.
Kindly read :
https://www.relakhs.com/employer-based-health-insurance-plans-vs-individual/
https://www.relakhs.com/best-family-floater-health-insurance-plans-details-checklist-comparison/
3 - Your current savings/investments are mainly in Debt oriented schemes/products. You may start looking at slightly higher risk oriented products like Equity oriented balanced funds for your long term goals like Kid's education & Retirement planning. Kindly go through below articles and you may revert to me with more queries ;
https://www.relakhs.com/investment-planning-investment-plan/
https://www.relakhs.com/calculate-kids-education-goal-amount/
https://www.relakhs.com/retirement-planning-calculator-3-easy-steps/
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