POSTED BY April 20, 2012 12:32 am COMMENTS (9)ON
I am 35 years old, wife 32Y and have twin kids( 3years). Father(65Y) is retired govt emp and mom (58) also retired govt employee. I am working in s/w industry and my annual gross sal is 14L.
I must admit that I am an illiterate in terms of financial planning.
Below are my current investments to avoid taxes.
LIC 26,666 ( Sum assured is 5L only),
HDFC Pension fund plan 10K per year
ICICI Life Insurance 15K per year.
Currently I am saving around 40K per month.
Since I hv v less life coverage with my current LIC policy, I am planning to go for term plan with coverage upto 1 crore in Aviva. Please let me know if it is good idea?
My future goals:
1) Buy an independent house around 80L ( not yet identified the property, hunt is on. mostly wud go for 20L Home Loan)
2) My Kids higher education ( I might need around 20L in 15Y for both kids)
3) Health insurance for my family and my parents.
4) Buy Gold for kids ( I am confused whether to buy physical gold or Gold ETF)
5) Money for kids marriage
Please suggest / help me in planning my investments to achieve my goals.
Thanks for your time and help.