Hi,
My name is Swetha. Me and my husband are confused on where to invest our money and which will give us best returns. Following are our details
We, both combined are earning 95K (take home) per month.
My age : 25
My husband : 27
1) Our plan to save per month is 50K out of which we want to put atleast 20K in savings account so that it can be used for any urgent needs. Suggest if this is better to save this 20K amount.
2) Our invesmets till now per annum:
Health Insurance Premium for parents– 14K
ULIP: 20K
MF: 24000
i) We are first planning for a plan which will give lump sum amt. so that it can be useful for our children\’s education or marriage — We want to get 25 Lakhs in next 21 years. — So for this we are choosing Jeevan anand with sum assured 12Lakhs. Is this good to start investing now or is it better to invest once the child is born.
ii) We want retirement return of 1 crore after 30 Yrs from down the line. For this is it fine for Endowment plus plan (plan no 14) or is there any better option?
iii) My husband wants to take pure life insurance plan– Please suggest which is good.
iv) If we put our avg hike will be 10% per year, which will be the right time to take house loan(our first priority is for points i,ii). So after i and ii from which age we can start investing on house?
v) Also we have no idea on MF\’s extra. So Can you please suggest on what it is and where to invest on this.
Overall, We would like to know the best Financial plan for the people at the age 25 to 27,who earns 90K/month, keeping 10% hike every Year from age?