I have around Rs.18000 balance after monthly expenditures which I want to save for my child’s education, marriage , my retirement and a car 5 yrs down the line. Currently, I am 28 and still have 32 yrs to retire.
Can you suggest me what would be the asset allocation in various financial instruments for achieving high returns.
For MF investments I am looking at 2 funds ICICI pru value discovery and SBI bluechip.
Can you guide me in asset allocation.
thanks & regards
Each goal is separate. Hence, each goal will have separate asset allocation. Without knowing goal tenure, how can I suggest?
Thanks for your reply.
My goals tenure:
1) buying a car – 5 yrs from now for around 5-6 lacs
2) child education : U.G. course 15 yrs from now at 10lacs current cost
: P.G. course 19yrs from now at 20lacs current cost
3) child marriage : 23yrs from now at 15lacs current cost
4) upgrading current house : 15 yrs from now at 40lacs current cost
5) retirement planning : after 32 yrs
I am medically covered by my org.
Yet to buy a term plan confused between LIC eterm and ICICI Pru life
Thanks for your valuable time
For first goal 100% debt, For rest of the goals, you can use 30:70 in debt:equity.
Thanks for the answer.
I wanted to know is there any difference in claim settlement between govt insurance company LIC and private such as ICICI. I wanted to take a term insurance for 1 cr, age 27 non smoker. ICICI is giving at around 9000 while LIC is quoting 16000. Also as I am overweight I doubt if LIC will increase my premium later. Should I go for ICICI then, I mean taking into consideration 35yrs term period will ICICI be as bankable as LIC