I am 34 yrs. old working at MNC in Bangalore. My take home is around 60 K. How can I prepare financial plan to achieve my financial goals?
My financial details are mentioned below
Loan:
I have 2 loans of 2.5 and 4.1 laces and paying 7k and 10K EMI which is going to over by 2016 and 2018.
Investments:
1. SBI Magnum tax gain invested 45K which is going to mature on 2016.
2. PPF opened in 2013, paying 500/- monthly.
Insurance:
1. Maxbupa health insurance
2. Group medical insurance from company where I am working.
Goal:
Short term within 3 yrs. – House (40-50 laces), Car (5-7 laces).
Long term – Child education (25 Lac), Retirement (2 Cr).
I can invest around 10K per month. Regarding risk I can take go for Aggressive to Moderate investment plans.
Please suggest some good Mutual funds to invest and also how much time it will take to achieve these goals?
How much I have more I have to invest monthly to achieve these goal?
Apart from Mutual Funds where else can I invest?