I am a permanent member of your site sir… My name is Sunil Kumar working in central govt. sector and my age is 32 years, recently married, my wife is home maker and no kids. My assets are follows .
1) My salary package as on date: 600000 annually.
2) EPF balance as on date 2 lac.
3) Emergency fund I kept in SBI as OD against FD worth one lakh rupees.
4) Term policy worth 75 lac( Kotak – 25Lakhs, Max life – 50Lakhs) out of which I have paid annual premium of Rs. 8500. policy tenure up to 60 years.
5) Housing loan in HDFC for Rs. 20 lac and monthly EMI paying as Rs. 20000. 6) Investing MF in SIP mode(Monthly rs.2000) for tax.
6) Investing MF in SIP mode(Monthly rs.2000) for tax benefits in SBI tax gain scheme only. Still I don’t have any financial planning but now I am aware of these things and financial goals are as follows 1) Retirement planning: my expenses as on today is Rs. 20000 and I am going to retire in 60 years of age 2) Kids Marriage: After 20 years i expected to do marriage for my kids and need 10 laKhs as on today exp 3) Kids Education 8 lac as on today exp 4) after 3 years I need 300,000 for abroad tour. I can invest 15000 pm in moderate risk. Can I fulfill my goals else how much Amount I need to complete my goals I can increase this SIP every year 10% Please suggest me to invest in which mutual funds sir?
Thanks for your belief on me and sharing your financial life with me. But sadly I can’t do individual planning on this platform. Instead, as you already done the basics of financial planning, I suggest you to refer my recent blog post for investing in mutual funds. Let me know if you have any concerns.