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POSTED BY ON June 22, 2012 11:33 am COMMENTS (12)
Hi all,
I am 22 year old and I am currently working. I want to buy a smartphone by Mar 2013 and I would request you all to provide me with the investment avenues in Mutual Fund so that I can buy the phone at the stipulated time frame. Here are my income & investment details:
Salary: Rs 16882 p.m.(in hand)
Savings A/c : Rs 92000
RD a/c with ICICI bank: Rs 4000p.m.
Monthly Plus A/c with Union Bank: 4000p.m.
Budget of the phone: Rs 30000-35000
I would like to infuse Rs 3000-4000 more as I am quite young and do not possess household expenses nor I lavishly spend on myself and would require your suggestions on the investment option. I am interested to invest in Mutual Fund SIP and I am a moderate risk taker.
Awaiting your replies
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“do not lavishly spend on myself”.
step back and check whether buying a phone which probably gets outdated in a few months and which costs twice your monthly salary should be considered lavish?
If this is not lavish, then what is?
What would you achieve by buying a 30K phone that would not be achieved by say samsung galaxy Y which costs <10K?
Thank you very much for your guidance… A very logical answer…
hi natesh,
at your age, it is natural to aspire for a lot of things and advertisements are designed to target your age group and increase aspirations. but since you are “smart” enough to read this blog at such an age, chart out your future needs (including 30K smartphone :)), may be a 2 wheeler or car, house, marriage, kids, retirement etc. and see if your current and projected income and savings along with inheritances or other source would suffice and then plan on purchases/spending.
May be you should invest in your profession as well in such a way that it would result in an increase of income.
you could take the assistance of financial planners like manish/ashal/subramoney etc.
Thanks,
Muthu.
Dear Natesh, I’m elaborating more on dear Muthu’s reply.
You have some 38Y on hand roughly for your retirement. The 30K meant for that samsung phone if invested in a modest return of 8% can you imagine what ‘ll be value after 38Y?
5.6L Rs. roughly. Down the line after so many years, the value of these 5.6L Rs. ‘ll not same as it has today but still there ‘ll be a value far higher than your Samsung mobile which ‘ll not last long.
Think over it.
Thanks
Ashal
Thank you very much… I highly value your comments and will be taking into consideration each and every word… Thank you very much for guiding me like a guardian even though I am a complete newbie to finance… Also I failed to mention about my LIC insurance policy (Jeevan Anand) for Rs 30Lakh which I had opened up and it involves an annual payment of Rs 15692. The first installment has already been paid by me in March this year…
Dear Natesh, May I know your return expectation for this 6-8 months period from your MFs? Are you asking for Debt based MFs or Eq. MFs?
Thanks
Ashal
I would like to invest in debt based mutual fund which would provide me close to around 10-12% returns.
Dear Natesh, please invest in a Gilt fund. Kotak Gilt Investment regular may be a fund for you.
Thnanks
Ashal
Thank you very much… These comments are very useful for me as I have also enrolled myself for Certified Financial Planner program so all these comments are very much making me think from a Financial Planner’s point of view… Hope all these will be valuable in practical life too…
Dear Natesh, please make it a habit to visit forum daily. A lot of wealth of knowledge is hidden here.
Thanks
Ashal
Hello Natesh.Balasubramanian.Iyer,
As per your requirement you are looking for investments in mutual fund for 8 months. I doubt anyone over here will suggest you even to look for mutual funds for this one. As Mutual Funds are riskier for a short term. I think you need to learn a little more about personal finance even thinking before investing. You can start with this one.
http://jagoinvestor.dev.diginnovators.site/personal-finance-faq
Thank you very much for your suggestions. I am in fact trying to learn more about mutual funds. But can you tell me whether if I want to invest in MFs for a longer term which would be the best one? I mean which would be the best debt based MFs.