Need your help in my financial planning

POSTED BY sampath.yekkaladevi ON April 20, 2012 12:32 am COMMENTS (9)

Hi,
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.

Regards,
Sampath.

9 replies on this article “Need your help in my financial planning”

  1. Dear Sampath, can you share more details on your LIC & ICICI Pru policy?

    Thanks

    Ashal

    1. sampath.yekkaladevi@gmail.com says:

      Hi Ashal,

      Thanks for the quick reply.
      LIC policy is Jeevan Anand( or something like that). I took it in 2002. as per this policy I need to pay around 27k per year for 16 years and after 25 years I will get 15 Lacks. I think may be that is the reason sum assured is v less(5L) only.
      ICICI Prudential policy name is Lifestage Assure plan. I took this one in 2009. for this I need to pay 15k per anum for 20 years. After 20 years I wud get the fund value at that time.

      Please let me know if u need any other info and help me in my planning.

      once again thanks for your help and time.

      Regards,
      Sampath.

      1. Dear Sampath, please check again for your LICF policy docs. For wahtever info, you have provided, it’s not Jeevan Anand. This some thing else. Please confirm.

        thanks

        Ashal

        1. sampath.yekkaladevi@gmail.com says:

          Hi Ashal,
          I am not sure abt the LIC policy name. The docs are in my hometown. I will chk it next time I go there.But I am sure abt the policy details. they are same as in my previous post.

          can u pls help me with my financial planning.

          Regards,
          Sampath.

          1. Dear Sampath, are you asking for paid one or free lunches as for as your financial planning goes?

            Thanks

            Ashal

          2. sampath.yekkaladevi@gmail.com says:

            Hi Ashal,

            I am ok for the paid ones. All I met so far are mainly agents , and their advises also biased.
            Pls let me know if u know any one who can give honest suggestions.

            thanks again for your reply.

            Regards,
            Sampath.

          3. Dear Sampath, FYI please –

            Dear Manish, the owner of this forum is offering paid financial coaching program.

            I’m also offering the same on payment basis for the chosen few.

            Both of us are working independently. I ‘ll only suggest products & to purchase is your responsibility. I do not earn any cross selling commission from the products purchased by my clients.

            If interested you may contact either dear Manish for his services or me for my services.

            Thanks

            Ashal

          4. sampath.yekkaladevi@gmail.com says:

            Hi Ashal,

            sorry for the late reply. Can you please send the fee details to me.

            Regards,
            Sampath.

          5. Dear Sampath, please check the personal mail send to your gmail ID for fee details.

            Thanks

            Ashal

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Download Our FREE Ebook!

Available only for first 100 people today

Download Our FREE Ebook!

Available only for first 100 people today