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Do you have financial planning queries?
Please ask your questions here and rediffGuru Sunil Lala, founder, S L Wealth (external link), will answer them.
Sathish: Hi, I'm 38 yrs old. Currently my salary is 1.1 lakhs & expenses are 1 lakh including unnecessary loan emi's which will end in another 4 yrs. No investments. Expected to work for another 15 yrs. How much to save more for peacefully retirement. 2 - Kids education & marriage. No own home. Monthly expenses will be 50000 without loan emis
Start SIP after completing your EMI. I don't know what is the meaning of peaceful retirement for you and what is your goal for marriage and education of your children
Sachchida: Hi i am investing the following sip since last two year CR blue chip fund 5k Nippon small cap 4k Bandhan small cap 5k Quant mid cap 5k Hsbc mid cap 3k Quant flexi cap 5k Kotak multi cap 5k I need 2CR in next 10years. Pls give me any suggestion if you have to achieve my target.
No, you may not be able to reach to the corpus of 2 crore but if you wait for 15 years then its possible to reach to the target of 2 crore; also you will have to double your SIP amount for 10 years.
Rajeev: Hello sir I am 33 and started sip last year October of 10000/month and business loan with emi 34000/month premium for health insurance 18000 life insurance 5962 quarterly. My monthly income is 120000 I want to invest in such a way that I can retire at 50 with monthly return of 1.5 lakh.
To have monthly income of Rs 1.5 Lakh from the age of 50 you need to have a corpus of minimum Rs 3 crore. To have this corpus you need to do SIP of Rs 45k for 17 years.
Anonymous: I am 58 years old just taken VRS investment approx 1 cr details as below 25 lakh in FD 15 lakh in PPF AND NPS and 30 lakh in mutual fund and approx 25 lakh in property and other residential house. Is this investment distribution worth or do I have to change investment allocation?
Investment should be as per your goals. You can convert your FD into a balanced mutual fund like equity hybrid fund or a multi asset fund.
Anonymous: Hi, I am a 25 year old and started earning 50k. Could you please suggest how much should I save? Currently I am saving 25k and please suggest where should I invest?
25K saving per month is a good saving. Investment in equity mutual fund is advisable through SIP mode.
Mohit: Hi experts, I'm a 26, male, dentist looking to start my investment journey. I've researched a lot in the last few days and have shortlisted these three funds for Sip investments for 10+ years with a step-up of 10% :- 1)Parag Parikh flexicap 2)Icici multi asset fund 3)Motilal Oswal midcap fund Total investment will start with 7.5k per month. Any opinions, advice regarding these, especially changes to be made and fund allocation with respect to the three are most welcome.
Since you are so young then why have you kept your investment period only 10 years. Self-research has limitations. You can meet a certified financial planner and learn properly how to create wealth.
Vinay: Hi Sir, i am 50 years investing in HDFC top 100 regular - 2k, ICICI prudential blue chip fund regular-3k, ICICI P.H.D. fund direct - 1k, Kotak flexi cap direct - 1k, PPFAS flexi cap direct - 5k, DSP midcap direct - 3k, ABSL frontline equity fund regular - 3k, Axis blue chip regular - 3k, PGIM midcap - 3k, Motilal oswal 500 index fund direct - 1k, Nippon India Multicap fund direct - 3k from last 5 years and want to invest for another 5 years. Any suggestions for change?
All the funds are good but you have too many funds; if you can manage it then it's good. You can put 5k SIP in a good Multicap fund.
Amit: Sunil, as a financial expert, given the financial profile of someone like me -- a 42-year-old individual earning a monthly salary of 1.6 lakh rupees, owning two self-occupied flats in Mumbai and Pune, with monthly obligations of approximately 70,000 rupees, and an EPF balance of around 30 lakh rupees.
Do you think it's realistic to aim to grow the EPF balance to 2.5 crore rupees over the next 10 years, possibly through contributions to EPF and VPF? What specific strategies or adjustments would you recommend to achieve this ambitious goal?
It's better to do SIP in equity mutual funds than putting money in VPF.
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Any use of the information/any investment and investment related decisions of the investors/recipients are at their sole discretion and risk. Any advice herein is made on a general basis and does not take into account the specific investment objectives of the specific person or group of persons. Opinions expressed herein are subject to change without notice.