Personal finance – Finance health check request ?

POSTED BY Kumar.niraj ON February 28, 2014 3:09 pm COMMENTS (3)


I am not a good invester but last few years i tried to be. Can any investment Guru or expert have a look at my financial status and suggest me better to achieve my goal.

Particular Amount(Earn/Expense)
Income per month 130000/Month and  22 laksh/Year
Expense per month 30000
Me and my wife working Yes
PPF for me  1 Lakh/year
PPF for My wife 1 Lakh/year
EPF for me 102000/Year and total as of now – 6 lakhs
EPF for my Wife 30000/year and total as of now – 1 lakhs
Stock/shares 2 lakhs and more more additions
Mutual funds 60000/year total 2lakhs as of now
ULIP  85000/Year total 4lakhs 25 Thousand as of now 
LIC 35000/year and last 5 years its on
Term plan  1 Caror coverage.  10000/year
SBI accidental insurance 4 Lakhs coverage. 100/year
Fixed deposit 1 Lakh
Infrastructure bond 20000 for 10 years taken on 2010
Infrastructure bond 20000 for 10 years taken on 2011
Recurring deposite 10000/Month
Cash in Bank  6 Lakhs in hand
Property 15 lakhs Land
Property 3 lakhs land
Gold  4 lakhs 
Car  Owning a Car  no Loan (7.5 Lakh worth) and no plan to buy another in future
Total Loan NIL
Medical Insurance 4 Lakhs coverage. No premium (paid by Employer)
Life cover by Employer 40 lakhs
House  Living on rent
Two Wheeler Have  bought 1 using Cash
Family Having 1 Son 3 months old  

Future plan: To buy one home for renting out (For investment )

To buy one home to live in.



3 replies on this article “Personal finance – Finance health check request ?”

  1. ashalanshu says:

    Dear Kumar, please define the good plan for your wife. What special things should be there in the term plan for your wife?

    How can I answer for your wife’s RD and jewelry when you can not ask a question to her yourself?



  2. Kumar.niraj says:

    Thanks Ashalanshu,
    I am also searching good term plan for my wife. I have completed 5 years in ULIPs and in the beginning ULIP charges were more so in 4 yours i could see fund value is same what in invested. But From 5th month as Charges are almost null and i could see fund value is raising. I have planned to continue 10 years so that so that i can get good earnings. As ULIPs give benefit in long term.
    Yes i realized i need to increase in Mutual funds so from next month i would do that for sure.
    My wife is doing RD and there is tax on that interest. Not too sure whether to continue or stop? I think she does RD for 1 year and used to buy jewelry from that interest 🙂

    Can you please suggest me what more do i need to do ?


  3. ashalanshu says:

    Dear Niraj, what about term plan for your wife? Why you are continuing your ULIPs? Why are you not increasing your MF SIPs? Why are you investing in RD?



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