Need your help for financial planning…Please help

POSTED BY priya paryani ON October 10, 2013 12:12 pm COMMENTS (13)

Hi…I am a working female aged 30….we use my husband’s income for expenditure and want to make correct investments from my earnings for our future and our  daughter’s future who is under one year of age. I am currently earning 30,000 p.m. I want to share our plan for investing this amount

1. Around 10000 in PPF for my daughter

2. Rest of money in mutual funds….primarily GOLD ETF and another.

Need your advice if the above planning will work fine for us ?

And which are the other good MF u suggest for long term saving ?

Putting money in Gold ETF is right move ?

I have HDFC life sampooran samriddhi plan as well of which i am paying annual premium of Rs. 25,000/-.

Thanks and Regards.

13 replies on this article “Need your help for financial planning…Please help”

  1. ashalanshu says:

    Dear Priya, I’ll wait for you update.



  2. priya paryani says:

    Dear Ashal,

    Sure i will go as suggested by you…will be back shortly after going through it.

    Thanxs once again….to you and all other members for their valuable advises…


  3. ashalanshu says:

    Dear Priya, Please read that discusion (link shared) and post your learning from it. We ‘ll discuss your HDFC policy issue for sure after that. There is a reason, I’m asking you to focus on that article first.



  4. priya paryani says:

    Thank you very much for your prompt and valuable response Mr. Ashal and Mr. Ashish……I will definately go through your forum posts.

    Meantime can you please give your views on HDFC sampooran samridhi plan which i am having….its a five year plan and i have already paid premium of Rs. 25,000 for two years….i did this policy in haste….now m confused should i continue it or not ?


  5. ashalanshu says:

    Dear Priya, apart from the input given by dear Ashish, I w’d you to check below discussion.

    jagoinvestor. com/forum/finacial-planning-faqs


  6. Ashish Garg says:

    Hi Priya,

    I am avid reader of this blog / forum and have learnt a lot in last few months. I feel Financial Planning has to be done step by step and not just everything at a single go.

    1. As you said, you have emergency funds kept aside (which should be at least 5-6 months expenses that you have spend and can not do without it).

    2. Next, insure yourself (working members of the family) using pure term plans. The life insurance should be about 12-15 times of your annual salary.

    3. Take adequate Health Insurance to cover the medical emergency that may arrive any time (now or future). Keep reviewing your sum assured to match the rising medical costs. You may also look at top-up or super top-up plans beside the regular mediclaim policy.

    4. Take personal accident policy as well to cover both of you since two of you are working.

    5. Look at your goals, as why would you be investing, what amount you want for specific goals, how much you can invest now and how much would you increase it increase in income as well as increase in your expenses in future.

    6. Once you know your goals, invest accordingly. for short horizon goals look at debt (Debt mutual funds, FDs, RDs etc) For longer horizon goals (which are at least 8-10 years away), invest in part in equity (Mutual funds, direct equity if you understand that) and part in debt (as suggested above + PPF etc)

    Regarding selection of Mutual Funds, there are enough question asked on the same topic and if you take a bit of time in searching you will get number of responses. Once you understand the concept of mutual fund and its selection criteria, you only can select the fund scheme.

    By the way, I myself is between stage 5 & 6 of my financial planning and have jumped step 4 (which I need to fulfill in next few days itself…)


  7. priya paryani says:

    i think u asked for insurance cover amount which my husband is having….sorry i misinterpreted…its ten lakhs only.

  8. priya paryani says:

    Dear Ashal,
    thats Rs.10,000/-p.m in PPF .

    Regarding emergency funds…how much money should be reserved according to you ?
    Yes we do have kept money for emergency funding besides i have some FD’s in Banks too.


  9. ashalanshu says:

    Dear Priya, is it 100000 only or 1000000 or 10000000 I mean 1L or 10L or 1Cr?

    What about emergency funding for at least 6-9 months’ expenses?



  10. priya paryani says:

    Thanxs Sumit for your valuable reply much appreciated !

  11. priya paryani says:

    Dear Ashalanshu,
    Thanxs for your prompt response. My Husband is having an insurance policy having Rs. 10,0000 as Sum assurred plus We are having health insurance of 5 lakh cover for each of us and 2 lakhs for our daughter. After reading your blogs and suggestions we are further planning to take a term insurance plan of larger cover.
    Is this much enough ?
    We want to make some investments in GOld….we thought gold etf’s are the better way.
    Please correct us if we are wrong.

    Further please suggest some good mutual funds to invest as earlier asked.


  12. Sumit says:

    Hi Priya,

    1) Annual maximum limit for PPF deposit is 1 lakh, so you will not able to deposit 10,000 every month. But whatever you can deposit, do it before 5th of every month to get interest accounted for that month. In fact if it’s possible then you should deposit total 1 lakh in 1st – 5th April to get the benefit of full years interest.

    2) GOLD ETF is good, but dont consider it just as an investment option. If you have certain goal – such as to accumulate X grams of gold for your daughter’s marriage, then keeping that in mind invest in GOLD ETFs or GOLD Funds regularly through SIP.

    3) At your age, equity should be a important part of your portfolio – so you should start investing in Equity mutual funds (through SIP), now experience members here can help you to choose the right mutual fund. To get a idea of general asset mix at your age and risk profile – you can go through the following link

    4) I hope you already have a term insurance for both of you.


  13. ashalanshu says:

    Dear Priya, if tomorrow your husband or you is no more, what ‘ll happen to all the investment and financial planning? what if one of you is seriously injured in an accident and can not work after that?

    Are you and your husband having adequate life, health, accident insurance? Is there enough money for emergencies? Why are you opting Gold ETFs?



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