My Age: 33years Dependents: Wife and one daughter (3years) My Gross Salary: 41000PM
My expense : 8k rent, household expn 15k, PL -5k, entertainment exp – 3k, credicard exp – 4k (will close it in next 2 months)
My Goals:
1. Protection to my family.
2. Child Primary Education.- From Savings & Investment
3. Child Higher Education.in 2021- Investing in Mutual Funds( only through SIP) & PPF or anyother please suggest
4. Purchase Land in 1years-From Savings
5. Child Marriage plan – Investment
6. Retirement plan- Investing in Mutual Funds & PPF or anyother options please suggest
Savings:
Currently in saving account not more tha 15k
Insurance:
Bima Nivesh 2005 -SA 25000 single premium already paid maturity on 2016
New Money Back – SA 25000 qtrly premium 332, maturity on 2025 – no issue in continue this, since its been applied by my parents
Jeevan Varsha SA 200000 qtly premium 8k maturity on 2021 already paid 3 years and would like to contine for another 6 yrs, since term is for 12 years but premum to be paid till 9yrs only.
Would like to go for another insurance as a investment, kindly suggest.
Others:
1.PPF account opened in August 2012, planned to deposit alteast 2k very month
2.Gold ornaments-1.5 Lakhs
3.Loan for purchasing Washing Machine (0% Interest)-1100 PM- another 8months to pay.
4. Medical expenses will be beared by employer (ICICI lomboard) upto 3 lacs include Daughter & Wife
Please give your advice on any changes in the plan and suggestions or solutions to be made as per my goals. I will provide any other data if required.
Thank You