Help needed in re-organizing investments

POSTED BY Srinivas N ON April 21, 2013 10:05 pm COMMENTS (11)

Hi,

This is Srinivas. I am 41 yers old, married and have 6 year old kid. I am covered individually for 1 lac by employer and do not have health insurance or term insurance. Please find below my investments and help me re-organizing my investments. Let me know in case I need to furnish any details. Many many thanks in advance.

LIC:

Plan Name: DateOFCommencement  PremiumAmount SumAssured PolicyTerm
Jeevan Sanchay – 20 Yrs (T.No.125) 15-02-2002 12,505.00 (Yearly) 1,75,000.00 20 years
Jeevan Sanchay – 20 Yrs (T.No.125) 28-01-2002  7,146.00 (Yearly) 1,00,000.00 20 years
Jeevan Saral(T.No.165) 22-01-2010 2,042.00 (Monhly) 5,00,000.00 21 years
Jeevan Saral(T.No.165) 27-09-2010 24,016.00 (Yearly) 5,00,000.00 15 years

 

ICICI Prulife:

Plan Name: Issue Date Term PremiumAmount FreqPay SumAssured Status
Life Stage Assure Pension 14-07-2009 20 years Rs  25,000.00 Annual NA In Force
LifeTime Pension 14-01-2004 18 years Rs  834.00 Monthly Rs 100,000.00 In Force
LifeTime 21-06-2006 Till 18-12-2070 Rs  20,000.00 Annual Rs 400,000.00 Premium Holiday
LifeStage RP 12-02-2008 15 years Rs  10,000.00 Half Yearly Rs 1,000,000.00 In Force

 

Mutual Funds:

 

Type Name: Monthly/OneTime Amount/month SumAssured Status
           
MF-Contra Fund SBI MSFU CONTRA-Reg PLAN -Gr Monthly 1000 NA Active
           
MF-Diversified Fund HDFC Top 200 Fund – Gr Monthly 1000 NA Active
  Franklin India Bluechip Fund-Gr Monthly 1000 NA Active
  Reliance Reg Savings Fund-EQUITY OPTION-Gr Monthly 1000 NA Stoped
  Reliance Reg Savings Fund-EQUITY OPTION-Gr Monthly 1000 NA Active
  UTI – Wealth Builder Fund – Sr II – Gr Monthly 1000 NA Active
  Morgan Stanley A.C.E. Fund- Gr OneTime 15000/- NA Active
           
           
MF-Thematic Fund Reliance Diversified Power Sector Fund-Gr-Gr Monthly 2000 NA Stoped
  Reliance Diversified Power Sector Fund-Gr-Gr Monthly 1000 NA Active
  Reliance Natural Resources Fund-Gr Plan-Gr OneTime 1,000,00.00 NA Active
  Reliance Natural Resources Fund-Gr Plan-Gr OneTime 20,000.00 NA Active
           
MF-Balanced Fund HDFC Prudence Fund – Gr Monthly 1000 NA Active

2 PF accounts:

1. In my name [In Post Office]. 11 years completed but invested very less amount

2. In My wife’s name. [In SBI]. Started couple of years back. 

Please help me in:

1. Removing the un-necessary one

2. Adding new ones

3. Helping in make it a well balanced portfolio.

  Thanks in advance.

 

 

11 replies on this article “Help needed in re-organizing investments”

  1. Prasanna Kottapalli says:

    you may ping me at praskmr@gmail.com if you are in Bangalore. Can help you rearrange and suggest on your present investments

  2. Dear Srinivas, please feel free to discuss as & when you feel so. First invest your time here & I promise, you ‘ll surely got a better know how for your own situation.

    thanks

    Ashal

    1. Srinivas N says:

      Hi Ashal,
      Thanks for valuable advise. I will come back again after spending some time here and take one step at a time to organize my financial life better. Thanks again for your valuable time.

      Srinivas N

  3. Dear Srinivas, what’s your take on dear Pattu’s suggestion of hiring a paid Financial planner for yourself? Why I’m asking? You put a lot of info from which, a lot of cross suggestions may come to you. How ‘ll you decide to move on? Regarding the taking help from Jagoinvestors, well my dear friend, just by reading past discussions, you could help yourself.

    Please think over it.

    Thanks

    Ashal

    1. Srinivas N says:

      Hi Ashal,
      Taking paid financial planner is not a bad idea, but definitely prior to that as suggested I will spend some time reading past discussions to see how much I can help myself. I will come up with with a list and you may extend your expert advise on that. Thank you very much for giving your valuable time.

      Srinivas N

  4. Gotu says:

    1, Make old policies paidup, new ones surrender, all ULIP surrender
    2. Ok
    3. Why do u need term plan for ur wife?
    4.ok
    5. Don’t invest in HDFC Prudence……First two funds will serve the purpose…..

    1. Srinivas N says:

      Hi Gotu,
      Thanks for your valuable suggestions.

      Srinivas N

  5. Srinivas N says:

    Hi Indrajit,
    Thanks for your response and suggestions. Based on your recommendations. please suggest if following steps will help.

    1. Stop all LICs and Ulips
    2. Quit unwanted MFs
    3. Take term plan of 50L each for me and wife from Aegon Religer iTerm plans
    4. Continue with only Franklin Bluechip & Hdfc Top 200 and Hdfc Prudence balance fund with 3000 pm instead of 1000 pm.
    Thanks for giving your valuable time.

    Srinivas N

  6. Srinivas N says:

    Hi,
    Thanks for the quick response. I will definitely keep in touch with our own financial planners i.e JagoInvestors. Thanks again for giving your valuable time.

    Srinivas N

  7. Indrajit Ghosh says:

    As soon as possible stop those LIC n Ulip.
    Purchase a Term Plan of 1 crore for Both of you. And purchase adequate health insurance for your family.
    For MF investment you have made too much funds. Only two or three funds can serve your purpose.
    Franklin Bluechip & Hdfc Top 200 alone are quite good.
    Third you can add Hdfc Prudence as a balance fund.
    Cut down your investment to this. Quit all the thematic and sectoral and all other funds.
    .

  8. Dear Srinivas,

    Your investments are in a mess. At 41 year you need professional help in tidying up your investments. Please consult a financial planner instead of seeking arbitrary generic advice in forums like this. A good financial planner will cost you only Rs. 15000. It is not much considering the premiums you are paying. A comprehensive financial plan will help you take control of your life. At you age you dont have time to make more mistake. Quick professional remedial action is needed.

    ps. As you yourself have noted term insurance health insurance a healthy emergency fund is very important before touching the above.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Download Our FREE Ebook!

Available only for first 100 people today

Download Our FREE Ebook!

Available only for first 100 people today