Hi,
I am a 31 year old married male. I am not sure how to go about my financial planning. I know its kinda late for me to plan up now but i thats why i need some guidance even more urgently.
Till now i only have the following investments-
LIC policy of Rs 10000 premium per annum and SA of 25 Lakhs of 25 years tenure.
Bank FDs to the tune of 1.5 lakhs.
cash in savings account 4 lakhs. I am depositing every month 20K in my savings a/c to buy a flat in next 1 year. flat would not be of mroe than 30-35 K and would be for investment purpose only to get rental and capital gains.
Apart from this i can spare 25K every month for long and short investments. My queries are as follows.
I want to invest in gold. What is the best way- coins, bullion, ETFs, Gold Funds.. which one is best?
I want to also invest in a low risk long term instrument with the tenure of 15 years or more for my retirement. Which is a best way to do this- PPF, NPS, pension plans of LIC, SIPs in MFs or any other way??
I also want to invest in short and medium term instruments with high returns (medium to high risk). What is the best way to do this- directly in equity, or through MFs (of what kind) or through any other way.
Kindly guide me with my financial planning.
regards,
Prats