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POSTED BY ON October 8, 2012 2:42 pm COMMENTS (2)
am Ganesh, from Bangalore. I am 33 Yrs old, Married and have a 2Yrs old daugther.
My current protfolio is as below:
Policy NamePolicy TypePaying Premium/YearCoverage
LIC Jeevan AnandEndowment23446/300000
LIC Profit PlusULIP10000/50000
SBI Life Unit Plus IIIULIP25000/125000
Birla Sunlife Saral JeevanULIP12245/130000
Birla Sunlife Dream PlanULIP12915/229650
Apart from the above,
PPF account – 25000/Year each in my name and spouse
.
Mutual Funds
1. SBI Magnum TaxGain Growth Fund (ELSS) = invested as SIP for 3yrs. Current value Rs.70,000.00.
I am not happy with the returns of this fund. Since I have lock-in period of 3Yrs i could able to sell it off.
2. SBI Magnum Taxgain Divident = One time investment of Rs.10000.00
3. Sundaram Tax Saver – One time investment of Rs.15000.00
Considering the current volatile market trend, I am looking at my financial goals as below in the next 25 to 30 Yrs time frame.
1. Dream Home = 45Lks
2. Education Corpus for my daugther = 35Lks
3. Daughther Wedding corpus = 25Lks
4. Retierment corpus for myself and wife = 1.55Cr
5. Emergency Fund = Rs.15Lks
My Questions
1. Please review my protfolio and suggest , considering my goal, what are the policies currently I hold will really help me in achieving the set goals?
2. Please suggest me some good Mutual Funds which will give me a consistent and real growth of 12 to 15% per year in long term?
3. Suggest me some way where I can get a regular income?
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Hai
I have given certain suggestion for your case
• I assume that your investment earn 10% of returns( Very conservative)
• First table – your present conditions
• Second table – Your goals & term to achieve it ,Investment needed to achieve the corpus for the goals
• Third table – amount to be invested per year
• Suggested I crore insurance cover / (min 20000 – 25000) / year for a term policy
• Check the status of all your Insurance plan ( Surrender most the plan and you can continue any one for next fifteen year to achieve 10%-12% returns)
• Take a ULIP child plan for your child with 16 years term ,50000 premium .at 10% will get nearly 200000 , 4 mutual fund(Equity based,Diversified,Top 50 ,Gold fund ) – ( 10000/ . yearly-each ) at 10% result in nearly 1500000
•
• Take a mutual fund ( Equity , Top 50 ) with a track record of more than 15% in 10 years
• Continue the PPF account for retirement corpus . at 9% after 25 years result in 16 lakhs
• Try to purchase a plot in a growing area for 500000 at 10% growth in next 22 year will five you 4000000 for your child marriage
Should have atleast 6 month of monthly income as emergency fund
I am not a financial planner – But still at my experience in Finance sector I made road map for you- Consult & review this with a honest financial planner ( yearly once )
I am not sure about your present asset and Liabilities ( it may also play a major role )
All the best
Table – 1
Name Ganesh
Insurance 834650
Premium 294606
PPF/year 25000
Taxgaingrowthfund 70000
Goals
Home 4500000
Education 3500000
Marriage 2500000
Retirement 15000000
Table – 2
Insurance coverage 10500000
Premium/year 25000
Education premium -(88,507.43)
Term( till 18 ) -16
Retirement investment (191,901.41)
Term( till 55) 23
Home investment (191,304.47)
Term(At 45 ) 12
Marriage (31,829.69)
Term(At 24 ) 22
Table – 3
Total investment /year
Next 12 years 528,543.00
13 – 16 years 337,238.53
17-22 years 198,731.10
23 year 166,901.41
24 – 30 years 25000
I am afraid it doesn’t seem to me that you are reaching close to your dreams. All these insurance and ulips are good for nothing. Considering surrendering them. Invest in good equity MF for long term to achive ur goal.