Hello,
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.
Thanks