I am following your blog, you might think as I follow how come doubt, but I really get confused where to invest and what to do.
I already hold LIC Jeevan Anand, LIC Komal Jeevan, LIC money back.
And also am doing Post office Sukanya Samridi for my daughter.
I am 30yrs now, I would be able to spend 10 to 15K monthly for investment, but my big doubt is which one? and what?
Recently I met ICICI bank Manager referring to GenNext ULIP plan AAA balanced fund @10rs NAV where he said if i invest 60K yearly for 7years I would get return 14L
And another Manager from HDFC Life he came and proposed Super Income Plan would be for 24yrs, where I have to pay 1L yearly for 12 yrs. I would be getting from 13th to 24th year 94K and on 24th-year min 4.3L max 16L
I am really confused I don’t know what to do, I am not planning to work more than 5 to 8 years I am planning for early retirement and i won’t get a pension. While I am about to do with my career I need an amount where i don’t need to depend.
Please suggest me if you think any great plan could help my investment get a good return.
Thanks in advance,
Follow below process.
- Buy a pure term insurance plan online. The Sum assured should be around 15-20 times of your yearly income.
- Buy health insurance for your family.
- Buy an accidental insurance.
- Create an emergency corpus of at least 6 months of your household expenses.
- If possible dump all existing LIC plans and never invest in any insurance plans (either of LIC or private companies).
- Identify your goals.
- Do the asset allocation based on time horizon.
- select the product in assets you have diversified and start investing.