Investment plan for securing my Son’s Education and my retirement

POSTED BY diastraits ON May 31, 2014 10:00 am ONE COMMENT

I am totally new to this forum and to the investment field and would like your expertise / suggestions on an issue that I am facing regarding investing and securing my sons education and my retirement plan.

We are 3 in our family. Myself – 39 Years  Wife 39 Years and Child – Will be 2 years in August. From our total income we have a saving capacity of Rs.40,000/- after our expenses. We have our own house and by God\’s grace we are do not have any health problems

Please find below a synopsis of my current financial status.

Our Current investment & Policies are as follows:

1. Pension Plan – We have paid regular installments till our lockin period of 5 years – Total Value is 12 Lacs i.e. Rs. 10000/- per month for 5 years. Sum Assured is Rs. 15 Lacs. Now we have stopped contributing to the pension plan after the 5 years. We have not withdrawn the money

2. Medical Policy – Religare Medical Plan for 3 of us for 10 Lacs. I had invested around 2 Lacs in PPF. But have not invested anything for the last 4 years Since we both are 39 years and our son is only 2 years we would like to secure his future in terms of education and his financial obligations.

We were thinking of the following

1. Invest in Real Estate – Purchase a flat for Rs. 35 to 40 Lacs on housing loan and then renting it. The rental money would lessen the burden of my loan installment every month

2. Invest in a Term Deposit of 1 Crore – Just incase something happens in future the term deposit could take care of the housing loan + balance money can be utilized by my family.  The risk I stand here, is if during this term if nothing happens to me then I do not have any corpus for my family

3. Having a parallel investment just incase I survive so that the corpus is built through this running investment

My Main questions are:

1. If I need to go in for a term plan – Which term plan should I go in for…

2. How do I have a parallel investment – What do I invest in?

The main objective is to build a corpus for my son’s education and financial need and for our retirement 

Please Advice…

 

One reply on this article “Investment plan for securing my Son’s Education and my retirement”

  1. Hemanth Chandra says:

    1. Term plan —- plz take with a company u r comfortable with

    2. Parallel investment —- you can invest in equity mutual funds.

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