Sir thank you for giving this platform to get guidance on money matters .
Sir, I am Rishi. I am investing through Scripbox since April 2016. I am thankful to Scripbox team to provide platform to invest in MF in the simplest and the best way. My query is same as all but i need solution precisely and exact so i provide all data and need your guidance with your experience.
I have two issues first is my retirement and second is my two girls carrier & life. I am blessed with twins girl child in August 2016 so for their
- 1) Higher education(as engineering costs approx 8 lakhs in present) @ Age 18 years. and
- (2) Marriage (today's average marriage cost 15 lakhs in my native place) @ Age 22 years.
- (3) My retirement ( in present my monthly expense is Rs.15000/-approximately)
- increase in monthly expenses when my children go to school
- inflation
- emergency fund Waiting for guidance from veteran and his team.
2 Answers
Hi,
1 - Kindly provide details about your Life Insurance policies - Plan name, Commencement Dates & Tenure.
2 - Do you have Personal Accident insurance cover & health insurance for self /family?
3 - If possible, do share the details about your MF portfolio (just MF Scheme names).
Suggest you to kindly go through below articles to start with;
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/
Dear Rishi,
1 - Suggest you to buy a Term Insurance Plan with adequate life cover.
Read:
http://www.relakhs.com/best-online-term-insurance-plans-india/
2 - Once you buy a term plan, you may make LIC Policy a PAID-UP one.
Read:
http://www.relakhs.com/how-to-get-rid-off-bad-life-insurance/
http://www.relakhs.com/traditional-life-insurance-plan/
3 - Kindly buy a stand-alone Personal Accident insurance plan.
Read:
http://www.relakhs.com/best-personal-accident-insurance-policies-in-india-details-comparison/
4 - You may consider buying a Family floater plan.
Read:
http://www.relakhs.com/best-family-floater-health-insurance-plans-details-checklist-comparison/
http://www.relakhs.com/factors-tips-best-health-insurance-plan-india/
http://www.relakhs.com/best-health-insurance-comparison-websites-portals/
5 - There are better alternatives to SBI magnum Global fund in Mid-cap space. Ex - HDFC Mid-cap or Franklin Prima etc., The other two funds are good ones.
Thanks shree sir.
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Thank you Shreekant sir, for your kind consideration and your prompt reply.1.Policy-LIC jivan anand
PREMIUM -48000/- Yearly started On/Ends On – Oct 2009/Oct 2030 for tenure 21 years
2. I don’t have health & accident insurance for self and family.
3. MF
i. SBI Blue Chip Fund – Regular Plan – Growth
ii. SBI Magnum Global Fund – Direct Plan – Growth
iii. ICICI Prudential Value Discovery Fund – Growth
all have SIP 1000/-Monthly Started On May 2016
and i already go through your mentioned links ,these are helpful but i need your perception in my situation .
thank you