8 replies on this article “Financial Planning”

1. Archana Bhapkar says:

   February 10, 2013 at 4:05 pm

   Dear
   All thanks for reply.

   Reply
2. Ashal Jauhari says:

   February 10, 2013 at 1:35 pm

   Dear Archana, please do not quote any link in isolation. When you are going to invest for a very short term of 6 months to 12-15 months, liquidity as well as safety of your capital should be the prime importance for you.

   Bank FDs provide you the liquidity as well as safety. What Dear Manish was telling is mainly for people who are keeping their amount largely into FDs & that too for long term. Then yes, FDs are not the auitable choice.

   FYI please – anything less than 1Y, FD & Debt MFs are common on taxation front. If you are asking to invest in Eq. MFs, no, one should not venture into high risk category for such a short term.

   Thanks

   Ashal

   Reply
3. Ramesh says:

   February 10, 2013 at 1:10 pm

   @ Archana

   Go through all the articles in this.

   http://www.subramoney.com/category/doctors-and-investing/

   Much smaller but more important than any ‘gutka’ you ever read before an exam.

   In short,

   Your practise will be the most important investment for you, not other businesses (through equity markets and equity MF, you are just investing money in other businesses). So understand that difference.

   For short-term, you should have an instrument which:
   1. Keeps your principal safe.
   2. Provides you enough liquidity.
   3. Returns are secondary, Inflation is econdary.

   Keep money in either FD or short-term debt MF like Templeton Ultra Short Bond / Low Duration fund.

   Ask more then.

   Reply
4. Archana Bhapkar says:

   February 10, 2013 at 12:26 pm

   Dear
   Ashal,

   Thanks for immediate reply.
   Your inputs and answer made our decision strong, even we thought of same that not to invest now but later once practice is settled.
   But could you suggest me any instrument for short term goals( duration-1 or 1& 1/2 year)
   I mean SIP Or other thing.

   I doubt please clarify , Is it worth to keep 5 lakh in bank account without FD , MF etc.

   I have read manish’s jagoinvestor book which says FD Value is not worth in this rising Inflation.so please suggest.

   Thanks

   Reply
5. Ashal Jauhari says:

   February 9, 2013 at 10:18 pm

   Dear Archana, when you people are planning to open your own clinic, please do not opt for home loan to burden yourself with a regular EMI. That’s only advice from me to you at this stage regarding home loan + clinic thing.

   Once practice is settled well, opt for a home of your choice. Believe me renting is far cheaper than EMI in current situation.

   As you said In Laws are dependent on both of you, please purchase adequate term cover for both of you.

   I’m not recommending any MF at this point to know your views.

   Thanks

   Ashal

   Reply
6. Archana Bhapkar says:

   February 9, 2013 at 8:30 pm

   Dear
   All,

   Many Thanks for reply.

   Please help me with your suggestions for my portfolio mgmt,

   We both are earning. At present Monthly Income: 1.3 Lakh
   Dependents – In laws,

   Investments till date:
   Gold – 10 Lakhs Only,No MF,Term Insurance

   About Health Insurance-
   We both are employed and covered under Mediclaim .

   We both are doctors planning to start our Own Practice and one will be employed
   So in future i can say Monthly Income- 60 k ,
   We have 8 Lakh in bank & want to invest so it will benefit us in future.Tell me were shall i invest it in MF or any other instrument.

   Short term Goals:
   Planning to buy a house/Flat within 50 Lakhs by Dec 2013(planning to pay 8L amount as a down payment) duration 7- 8 months

   Long term Goals:

   Option 1: To Repay Home-loan in 5 Yrs or earlier.
   & to start Small Clinic -On rent / Buy

   Option 2: If possible will buy land and want to build our own house and clinic in same building . Or if we get partner for Clinic then will share it other person.

   Thanks
   Archana

   Reply
7. Ashal Jauhari says:

   February 8, 2013 at 10:49 pm

   Dear Archna, may I know, what is your short term? is is 6-7 days or 6-7 weeks or 6-7 months…….?

   Please clarify.

   Thanks

   Ashal

   Reply
8. Free Financial Calculators says:

   February 8, 2013 at 5:44 am

   Dear Archana,

   1. You have not indicated when you need the money. For a house, assuming you buy via loan, it is recommended that your emi should be not more then 30-40% depending on your other financial goals. For a loan you need to have 20-25% of the house value saved up for downpayment.

   So you need to list your financial goals, determine the cost of house you need, get yourself pure term life insurance (if both of you earn then both need the cover), get enough health insurance, have enough contingency cash to cover 6-12 months expenses

   Then you can start investing.

   You can use this financial health check with goal optimizer to start

   http://freefincal.wordpress.com/financial-health-check-3/with-optimized-goal-investor/

   The site also has a step-by-step guide to choose a mutual fund, insurance cal etc.

   Reply

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