My Financial Plan – Advice for Next 20 years

POSTED BY ANKIT ON November 22, 2013 11:23 pm COMMENTS (6)

Hi Ashal/ Manish,

This is Ankit. I have read many articles of JAGOINVESTOR and it seems to be impressive. I am 29 yrs old and I would like to share my investments and would like to know where to invest in future for next 20 years to achieve my financial goals.

I have invested in
1. Real Estate: 7L (45L pending- to be paid for 3 BHK home by 2016)
2. Term Plan: 25L
3. LIC Jeevan Anand + Jeevan Saral: S.A. 9L
4. Health insurance : Religare Care- 5L fLoater for my family – i.e. Me, my wife and 3 yrs daughter
5. Gold: 8L
6. PPF: 65K (1.5 years)
7. Mutual Fund: 60K
8. FD: 50K

– Further I have no debt as of now. May be I will take home loan in next year to give 45 lakhs pending for flat (under construction)

– I would like to know what from next year what I shall do to make a corpus of 1.5 crore in next 20 years. My job net income is 20L per annum & presently staying abroad.

– My goal is to finish the home loan by 2019 (Next 5 yrs) and then concentrate on the corpus for retirement + child’s marriage (2035)

Thanks in advance,
Ankit

6 replies on this article “My Financial Plan – Advice for Next 20 years”

  1. ashalanshu says:

    Dear Ankit, if the idea is to create 1.5Cr. Rs. in next 20Y, you can back calculate easily @ what ROI, you should invest how much mly to get 1.5Cr.

    Thanks

    Ashal

  2. ashalanshu says:

    Dear Ankit, before commenting on which vehicle (investment) should you use for your journey (retirement), should you not check, what is your destination (Corpus requirement)?

    Thanks

    Ashal

    1. ANKIT says:

      Dear Ashal,

      I had already mentioned above in 1st mail about corpus of 1.5 crore in next 20 yrs (other than home loan- real estate).

      Regards,
      Ankit Gajjar

  3. ashalanshu says:

    Dear Ankit, what anand and saral are doing in your portfolio?

    Thanks

    Ashal

    1. ANKIT says:

      Dear Rahul

      Thanks for the reply. To complete home loan on early basis is my first criteria. As my daughter is 3 yrs old, & its enough time to start with her education expenses, l I want to complete it in next 5 yrs. Further, the flat is under construction, so I have enough time till 2016 (No dead investment). As suggested, I will go with 50% retirement planning and 50% in home loan fulfillment.

      Dear Ashal,

      That LIC policies were taken by my parent and almost >4 yrs old. So I would like to continue that till 1 more year. I know the returns are too low, so I thought to make it paid up after completion of 5 yrs.

      – But still my query is not answered about retirement planning in future. Where to invest ?? Shall I go with new PPF account on my wife’s name and invest in there or shall I enlarge my Mutual fund portfolio. Any other suggestions.

      Request your advice.

      Regards,
      Ankit Gajjar

  4. rahul123 says:

    One suggestion from my side is that, don’t wait for retirement planning till you clear your home loan. It should happen simultaneously, the quantum depends on you how much % of your money (corpus amount) you want to use for prepayment of EMI and remaining you want to invest for your retirement. (i will suggest use -40% for prepayemnt, 60% for retirement planning).

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