Need advice on personal finance for myself

POSTED BY bighead_bob ON December 27, 2014 1:52 pm COMMENTS (5)


I & my husband both work in IT sector and our combined savings per month after expenses are approximately 1.25L. We have a 6 months old daughter and we both are in our early 30s.

This is how we have plan to invest starting january, please give your feedback:

Goal 1 – Retirement (in 23 years from now)

SIP : 62000 per month for 8 years [equity which includes growth & elss]

Goal 2 – Daughter’s Marriage (in 25 years from now)

SIP : 20000 per month for 8 years [equity]

Goal 3 – Daughter’s higher education (in 18 years from now)

Lumpsum : 8 lakhs [55 equity + 45 liquid]

We will also save around 5L for contigency. We have term plan, personal accidental plan as well as mediclaim policies.

Please provide your opinion. After reading all the information on this blog, we have to come to conclude that invest early and take the benefits of compounding.

One more question i have is if we are expecting to receive some lump sum amount, what should we do with it considering that we might need it in 1.5-2 years and considering we don’t need it for 10 years.




5 replies on this article “Need advice on personal finance for myself”

  1. On a higher level , it looks good to me .

    You have taken care of your security part , going to commit a good enough amount for your long term goals and best part is that you are so clear at goals level .

    I suggest you go ahead . If possible see if you need any professional help and do not refrain from it , external assistance will surely bring more discipline in your financial life . You can hire a financial advisor locally in your city , or you can also look at our services –


    1. bighead_bob says:

      Thanks Manish for your feedback…glad to know that we are on right track. Please suggest what should one do with lumpsum amount in both the cases : 1) for goals with horizon of 1-2 years 2) for goals with horizon of 10 years


      1. For something within 1-2 yrs – RD is the best choice

        and for 10 yrs goal, a SIP in mutual funds is a good choice . But make sure you read more on that ..


        1. bighead_bob says:

          Thanks Manish, my question is about investing lump sum money. RD and SIP are monthly instruments, isn’t it?

          And is it a good idea to put whatever money we are left with after expenses and SIPs, monthly in mutual fund liquids?

          1. Yes RD and SIP are monthly instruments ..

            Yes you can invest whatever remains after expenses 🙂

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