Last minute planning

POSTED BY Ashwin B N ON June 6, 2012 10:10 pm COMMENTS (3)

Hi Everyone,
I have planned 4 months back to invest in few MF, PPF and many more but didn’t executed a single plan in investement.
Now am in some what trouble.
I had made plan for this year just for Tax saving, because I cant save anything till october end, so I planned to start investement for tax saving from november to March month i.e for 5 months.
My plan is explained in details below

My take home salary 28801*5 =144005
Monthly Expenditure 10000*5 = 50000

remaining for investement 18801*5 = 94005

1. EPF/year (By default) = 20160
2. Health insurance/year(Already invested) = 7679
3. PPF (10000*5) = 50000
4. Canara Robeco Equity(1500*5) = 7500
5. HDFC tax saver (1500*5) = 7500
6. Fidelity Tax Advantage(1500*5) = 7500

Total = 100339

Now, (Remaining for investment -(3+4+5+6))=21505. This amount I will invest in RD as Emergency fund. Also If i save any amount from above calculation or any money I will get goes to RD as emergency fund.
Please guide me is that plan is OK. or anything I need to take care.
Thanks in Advance

3 replies on this article “Last minute planning”

  1. Dear Ashwin, Instead of opting for 3 ELSS, please opt only one. My choice ‘ll be HDFC Tax saver for you. Start investing a small amount from today itself even if it means just 500 Rs. weekly. Please start. Later on after 2-3 months, as & when your cash flow permits, increase the mly figure to reach your target amount to be invested into ELSS for that 1L Rs. limit. As you are already PF member, you may divert a part of PPF money to ELSS to increase the over all Eq. component in your portfolio.

    Thanks

    Ashal

    1. Ashwin B N says:

      Thanks As u suggest I will start ELSS min of 500 RS for HDFC TAX Saver from this month.

      Few more doubts from above answer
      ————————————————–
      How much amount I can divert from PPF to ELSS. Now i planned 10 k for PPF in last question. Suppose If I plan 5k for PPF. Remaining 5k which ELSS I can opt suggst me and in that 5k how much I can invest on ELSS.

      1. Dear Ashwin, Why are you interested to increase the no. of funds in ELSS. Please divert that extra amount also in to the chosen fund.

        Thanks

        Ashal

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