11 replies on this article “Finanacial Palanning”

1. Kirubakaran says:

   June 2, 2012 at 4:15 pm

   Dear Ashal.
   Thank you very much for your swift response. I don know which is best whatever you mentioned list. Pls guide to me which is best policy and company.

   Thank a lot.

   regards
   Kirubakaran.K
   Chennai

   Reply
   1. Ashal Jauhari says:

      June 2, 2012 at 4:31 pm

      Dear Kirubakaran, there is nothing called the best. You have to check on your own from the available options & decide which is better for you & opt the same. Good for me may not be good for you & vice verse.

      Thanks

      Ashal

      Reply
2. Ashal Jauhari says:

   May 29, 2012 at 12:25 am

   Dear Kirubakaran, @ 18500 Rs. mly figure, you should have an emergency fund of at least 6-9 months of mly income i.e. around 1.25L Rs. or more. No matter you have only 35K Rs. as of now. Please start saving small amounts in a simple product like bank RD for say 500 Rs. mly or 1K Rs. mly for next 12 months. Once this running RD matures, open a new one & deposit the old RD’s maturity amount into a FD.

   Please keep on investing in the 2 funds you are in at present. For Term plan, please go for nearly 50L Rs. term plan from online plans.

   Thanks

   Ashal

   Reply
   1. Kirubakaran says:

      June 2, 2012 at 4:03 pm

      Dear Ashal,
      Thank you very much for your advice. Pls kindly mention which Term Insurance is suitable for me and mantion the Name of the plan. This month i start Rs.1000/pm in RD on SBI bank.

      Thank in advenace

      regards
      Kirubakaran.K
      Chennai

      Reply
      1. Ashal Jauhari says:

         June 2, 2012 at 4:06 pm

         Dear Kirubakaran, You may purchase online term plans from the following insurers. Please do note the list is indicative only & not the order of preference.

         Aviva
         Aegon Religare
         ICICI Prudential Life
         HDFC
         Kotak
         Metlife

         Thanks

         Ashal

         Reply
3. Ashal Jauhari says:

   May 22, 2012 at 8:05 pm

   Dear Kirubakaran, is it 4K mly or 4K yly in MFs? What is the condition of your emergency funds? Any loan liabilities as on date? what about future liabilities for loans as well as family? @ 18500 Rs. your yly income is roughly 2.25L Rs. You should have a term cover of at least 30L Rs. if not more.

   Please update with your views.

   Regarding that 1C figure, it may be your dream but do answer what ‘ll be the value of these 1C Rs. after 30-32 years @ 8% inflation rate from now on wards.

   Thanks

   Ashal

   Reply
   1. Kirubakaran says:

      May 25, 2012 at 4:34 pm

      Dear All,
      Great Day. Thank you very much for your valuable thoughts. Monthly i saved Rs. 4000 in Mutual fund.Yearly 10 to 15 % increase my salary. My ambition is 1 crore because after my life, my wife should not depend on others. when i alive i saved enough money for my wife. Thats y i mention that amount. In future more money is need pls mention approximate amount, Surely i will get that amount.

      Thanks in advance for your Golden ideas.
      I am waiting for yours reply

      regards
      Kirubakaran.K
      Chennai

      Reply
      1. Ashal Jauhari says:

         May 25, 2012 at 4:58 pm

         Dear Kirubakaran, please answer the queries raised by me in reply of your basic query. Like your emergency funding, term cover, value of 1C Rs. after 30-32Ys from now onwards due to inflation.

         Thanks

         Ashal

         Reply
         1. Kirubakaran says:

            May 28, 2012 at 6:21 pm

            Dear Ashal,
            have a Nice Day. Thank you very much for your reply. I have emergency fund is Rs.35000/- only. I dont have any Teem policy. ( only LIC Beema glod Plocy Rs 2,00,000 Yearly i paid Rs.7000). I don’ have any debt ( am not using Credit card also). Monthly i Saved Rs 4000 in Mutual Fund (HDFC Top 100 – Rs.2000 and DSP BlockRock Top 100 – Rs.2000). After my retirement How much money is need for my future. Pls advice How to reach my goal. and tell how much amount should i take term policy and Emergency fund.

            Thanks in advance.

            Awaiting for your favorable reply

            regards
            Kirubakaran.K
            Chennai

            Reply
4. Ramesh says:

   May 22, 2012 at 6:38 pm

   Realistically speaking,
   1. You need to learn basics of investing (go through this forum and some basic texts, etc).
   2. What is really with the 1 crore figure? Even if you achieve it 30 years down the line, do you think that 1 crore will have the same purchasing power as 1 crore right now.
   3. I am assuming 4k is monthly (and not yearly). Though, mathematically, a linear 12% year-on-year increase of Rs. 4k per month will give you the magic figure of 1 crore after 30 years. But my advice will be:
   A. Atleast save 30% of your salary.
   B. Put as much of that into high-return potential asset classes (read equity funds).
   C. Have adequate emergency fund and insurance for you (so that you and your family are protected from eventualities).
   D. Pray that for next 10-20 years, the equities continue to be a big bummer (so that you can accumulate a lot of units) and then they perform when you need them. 🙂

   Ramesh

   Reply
   1. Kirubakaran says:

      May 25, 2012 at 4:33 pm

      Dear All,
      Great Day. Thank you very much for your valuable thoughts. Monthly i saved Rs. 4000 in Mutual fund.Yearly 10 to 15 % increase my salary. My ambition is 1 crore because after my life, my wife should not depend on others. when i alive i saved enough money for my wife. Thats y i mention that amount. In future more money is need pls mention approximate amount, Surely i will get that amount.

      Thanks in advance for your Golden ideas.
      I am waiting for yours reply

      regards
      Kirubakaran.K
      Chennai

      Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.