SSY - Q & A Forum

Q & A Forum › Category: Investments › SSY

k04kishore asked 7 years ago

Hello Sreekanth, I have 1 year daughter and planning to invest in SSY around 60k /year. Please advise it is good to go head or do you suggest anything better than this. Regards, Kishore Reddy

3 Answers

0 Vote Up Vote Down

Sreekanth Staff answered 7 years ago

Dear Kishore, May I know if you are a salaried employee? Do you contribute to EPF and/or also PPF? Are you investing in any other investments for your financial goals? (Retirement / Kid's education goals..)

k04kishore replied 7 years ago

Hello Sree,Yes I am salaried employee and contributing EPF. And also investigating in LIC as if now. Planning for SSY and want to take finance expect suggestion.

0 Vote Up Vote Down

Sreekanth Staff answered 7 years ago

Hi, May I know the LIC plan names? (Plan name, commencement date, Sum assured and Tenure) Suggest you to kindly check the required corpus for your kid's education goal and then work backwards to have a property asset allocation (Debt + Equity). SSA/PPF + EPF can be your Debt allocation. You may consider other investment options for Equity side. Related articles :

k04kishore replied 7 years ago

Hi Sreekanth,

LIC plan name is Jeevan Anand and I am paying from past 7 years (40k).Sum assured is 1MN. Why I am preferring SSY because it helps in TAX and also low risk with high interest rate compared to other government investments. If I stat paying from 1year of my kid age currently till 14 years in my view I may not have major issue for my kids education since she might be in intermediate by that time and my investment term will complete. What do you suggest ,can I gohead or invest 30k here and rest in mutual funds ? Any possibility to get your number so that I can discuss in detail and take final suggestion.

0 Vote Up Vote Down

Sreekanth Staff answered 7 years ago

Hi, 1 - I believe that you are under-insured. Suggest you to buy a Term insurance plan with adequate cover. Kindly read:

Do you have adequate health insurance cover? 2 - You may go ahead with your plan of investing in SSY. You may pick PPF/SSA, your choice! 3 - Yes, do invest in mutual funds as per your requirements, risk profile and investment horizon.