My Financial Portfolio

POSTED BY Nirmal Bag ON August 11, 2013 1:54 pm COMMENTS (5)

I am a 35 years old married salaried person staying with my wife (she is a housewife) and daughter (6 months old) at my own house. Here is the brief of my financial portfolio:

 Income: Around 1.2L per month.

 Monthly expenditure : 45K (approximate).

 Home loan: I pay EMI of 35K per month which will continue for next 15 years.

 Insurance: One Term Insurance of 1.5Cr for 25 years, Health Insurance of 5L(my company provides additional health insurance of 3L), Critical Illness Insurance of 10L and Personal Accident Insurance of 20L. I am really thankful to Jagoinvestor articles which have helped me to understand the impotence last two insurances (Critical Illness Insurance and Personal Accident Insurance).

 Fixed deposits: I have FD’s of around 20L.

 Savings account: I have kept around 7L for emergency purpose.

 I would like to start SIP (for my daughter education, marriage and retirement planning) for long term tenure (15 years) in mutual funds. I have made some study through various websites, articles but not really sure to finalize the funds which I should go for. Here are the funds I found:

1. ICICI Pru Focused Bluechip / Franklin India Bluechip.

2. Quantum Long Term Equity

3. SBI Emerging Businesses/ IDFC Premier Equity

Here are the quarries from my side:

1. I need your help/suggestion to finalize my SIP portfolio. Please feel free to give other funds name if you think above choices are not correct.

2. I have kept around 7L at my savings bank account. Is there any other way to invest this amount to get little more interest than savings account? 

5 replies on this article “My Financial Portfolio”

  1. Genoa says:

    1. You can invest in those 3 mutual fund plans. They should give good returns, depending on how stock market perform in next 15 years.

    These stock markets are very volatile. Nothing can be predicted. So, review your MF portfolio every 3-5 years. If some fund is not performing well, then shift to well performing fund at that time

    2. Open PPF account and invest 1 lakh there. PPF has lots of benefits like totally tax free interest. Since you have 1.2L per month income, it will give tax Section 80C deduction benefits. After 15 years, you can use that money for retirement.

    Also, open PPF account for your 6 months old daughter. When your daughter grows up, she could utilize funds for school, college or marriage.

    Also, pay up all loans – quickly. Instead of paying loan’s interest every month, you could save up money and buy good educational books from science or astronomy for your daughter

    I mean to say, instead of paying say Rs. 500/- on loan interest and allow the bank to earn money, you could buy good educational/knowledge book with lots of fascinating pictures for Rs. 500/- for your child

  2. Dear Nirmal, Consider this:

    Which is better?

    Spending about 15K initially for a professional financial plan from a certified financial planner followed by yearly reviews for about 5K or so


    asking arbitrary ‘free lunch’ advice in a forum like this?

    Which the smarter option to secure your financial future?

    If you want I suggest financial planners in your city. If you don’t agree feel free to hit the thumbs down.

    1. Nirmal Bag says:

      Hi Free Financial Calculators,
      I had interacted with one financial planner (suggested by my friend) few months ago. He took 5K as an one time fees and suggested some changes in my insurance, retirement planning etc. But for investment in mutual fund, he told me to have a contract of 30K for two years where he will look after after my MF portfolio. Somehow I was not comfortable with this arrangement and did not continue. It would be great if you can suggest some financial planners at Kolkata. I have no intention to have a free lunch advice here. I was just looking for suggestion.

      1. I too would not have been comfortable with this arrangement. I don’t know anyone in Kolkata. If you are comfortable with online interaction and by phone calls, then you could contact Manish Chauhan himself. I can recommend other fee-only financial planners who will not make such conditions.

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