I am 38 and my spouse is 36, both of us are salaried 20 lacs PA(each). We are blessed with a single princess (4.5 yr old). We purchased 2 flats in Bangalore (we stay in one & one rented out), both the flats outstanding is 25 lacs(14+11) , usually whenever we get annual bonus/variable pay we dump into it as prepayment.
Our investments are 2 PPF(Opened in 2011 & 2014) & 1 Sukanya Samridhhi ( opened in 2014) & one FD 12.5lacs & 2 LIC policies with 121000 annual premium ( till 2037 – perhaps a wrong decision for that long 🙁 )
I trade in the market , not beyond 1 lacs, I provided overall details as we have decided for my spouse to get retired in next 5 years ( as my daughter will turn 10 & we will focus on her studies). Kindly suggest a retirement plan for her
She makes 1 lac in hand salary pm & has no room to spend apart from online shopping:(, all EMIs, expenses are taken care by me. We are ok to invest 50k per month in MFs or other instruments suggested by you so that once she gets retired she gets a good amount in hand.
I also thought to invest 50000 (single time ) for her in ‘Ujjwal Bharat’: ABSL Resurgent India Fund – Series 6″ as its based on rural theme & good return expected due to the current budget. Kindly suggest
Thanks in advance for your support
Forgot to tell that our future expenses / big tickets is schooling for my daughter ( right now she is in LKG) from 1st standard any good school fees in Bangalore is around 1.5 lacs PA.
As the goal is just around 5 years away, I will not suggest you to touch any equity products or any so-called THEME based product. These are all sales pitch by advisers or MF companies to garner business. The only option left you is increase your monthly investment and use the debt products like Ultra Short Term Debt Funds or Liquid Funds.