Financial Planning related query…

POSTED BY Sanjeev Joshi ON September 6, 2012 2:39 pm COMMENTS (10)

I’m following your site frequently and now I’m compelled to ask these important questions related to my portfolio (I’m 42 married with 03 kids and only earning member of the family, no loans and with adequate Term insurance.)
 
Q1: I’ve invested in Fidelity Mutual Funds (details are in Q2) since its operations in India. But now with L&T coming into picture, what should I do with these funds? Many advisors are saying to quit the fund as the past record of L&T MFs are not good. Please suggest.
 
Q2: I’m investing in Fidelity Equity (5k), Fidelity India Growth (1K), Fidelity Education and Marriage funds (1K each) and in IDFC Classic equity (5K), HDFC Top 200 (2K), HDFC Gold Fund (2K) for last 02-03 years. Pl let me know if my funds are good or I need a relook?
 
Q3: I’m thinking of doing a STP from my IDFC Classic Equity Fund to IDFC Premier Equity Fund? Is it the right move? I’m also thinking of quitting from the Classic fund totally and starting the same SIP (Rs5000/-) with the Premier Fund. Suggest, Am I doing the right thing, considering the MF performance comments on your site.
 
Please reply ASAP. Thanks
 
SJ
 
PS: I’m a long time investor and my horizon is to continue even after 15 years of SIP in MFs. Eagerly waiting for a response.

10 replies on this article “Financial Planning related query…”

  1. sarath says:

    hi
    in ur investment , hdfc top 200 and fidelity india growth mutual funds are good. remaining equity mutual fund are under performing. most of ur investment are in large cap. As ur a long term investor and ur invetment time is more than 15 years, u have to look for good midcap and small cap investment along with large cap.

    1. Dear Sarath, as per forum policy, it’s not allowed to quote personal e-mails directly in your replies. Please keep note of it next time.

      Thanks

      Ashal

    2. Sanjeev Joshi says:

      Thanks Sarath, I’ve already sent you a mail giving my portfolio details

  2. Dear Sanjeev, May I know that Term cover figure, keeping in mind that you have 3 kids? Can you share your existing assets & investments details. Glad to know that you do not have any loan as on date.

    Thanks

    Ashal

    1. Sanjeev Joshi says:

      Thanks Ashal for ur answer. I’ve following Term Insurance covers –

      1. 03 Lacs cover from LIC (policy ending in 2014)
      2. 05 Lacs from SBI Life Ins (Policy ending in 2013, looking for a renewal)
      3. 50 Lacs from Bharti-Axa (papers in processing)
      4. 3 one lac cover each from my employer, my staff society and from a GLIP from my employer again resp.

      I’ve around 1.5L /ann in my EPF and 50k in FDs.

      I’m looking for a review for my porfolio. Thanks

      1. Dear Sanjeev, do you feel 60L total sum assured is enough for your family in your absence?

        Thanks

        ashal

        1. Sanjeev Joshi says:

          Thanks Ashal, I know 60L is not a sufficient amt but I’ve sufficient funds in my EPF and Gratuty that I don’t feel the need to have more of insurance. Moreover with age the premium is getting higher and higher. Can you suggest a good health insurance for a family like ours (family floater policy)?

          1. Dear Sanjeev, may I know the total of PF & gratuity? On what basis did you calculate that Current 60L Term cover + Pf + Grtuity ‘ll be enough for your family in your absence?

            Thanks

            Ashal

          2. Sanjeev Joshi says:

            Dear Ashal:

            My PF + Gratuity as on March 31, 2012 is 25L+ and I’ve never withdrawn a single pie from it. I assume that with my term insurance the total amt would reach 1 Cr soon. Anyways, I’m looking for a better and affordable health insurance cover for my entire family (though, we are covered from my employer’s side right now). Please give your inputs and suggest few names? Thanks

          3. Dear Sanjeev, within next 2-3Y (i.e. your age 45) I assume, PF + Gratuity amount ‘ll touch the 40L figure to make your term + PF + Gratuity figure 1Crore. Now do tell me how much earning/income you are expecting from this 1C amount for your family in your absence? What ‘ll be the mly or yly living expenses of your family? What ‘ll be the educational expenses of 3 kids at that time as well as in future? Please add the impact of inflation for all these in 2015 & after wards.

            Thanks

            Ashal

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