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POSTED BY 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
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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
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
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
Dear Ankit, what anand and saral are doing in your portfolio?
Thanks
Ashal
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
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).