POSTED BY April 17, 2013 3:09 pm COMMENTS (7)ON
My husband and I have not been really the saving kind of people and financial awakening is coming rather late to both of us.
But last year onwards I have started taking stock of the money we have flowing in and out. I would really appreciate your help in analysing the investments and insurance covers I am looking at:
I am 28 and my husband is 30 and still have good number of years before retirement.
Salary inflow :
Plus another yearly 1 lac odd of bonus or incentives which are not fixed or guaranteed every year.
Home loan EMI. 38500
Rent. 11000 ( since the flat is under construction and should be ready by august)
Car EMI. 9100
Living expenses 15000
PPF 40000 in both our individual accounts plus a monthly contribution per month of about 3500 each per month for both
FDs. 4.5 L
Current RDs. 18 K / month
SIPs. 10 K/ month in following funds
1) DSP BR top 100. 2000k
2) ICICI focused bluechip 2000 K
3) Birlasunlife frontline equity. 2000 K
4) HDFC mid cap opportunities 2000K
5) ICICI Pru discovery 1000K
6) HDFC Prudence. 1000K
ELSS. Bajaj New Unit gain policy
current value 180000 (have paid 5 premiums of 40K each)
We are planning to buy online term insurances for each of us by next month worth 50 L each.
I have 2 questions :
1) Do the investments look on track with the current market conditions?
2) The lock in period for the ELSS was 3 years and I have already paid 4 instalments of 40K each. Should I continue holding it or withdraw it once the market improves a little?
I am just starting out with personal finance so I’m sure I would have made some novice mistakes. Please suggest.