POSTED BY February 28, 2014 3:09 pm COMMENTS (3)ON
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.
|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|
|Cash in Bank||6 Lakhs in hand|
|Property||15 lakhs Land|
|Property||3 lakhs land|
|Car||Owning a Car no Loan (7.5 Lakh worth) and no plan to buy another in future|
|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.
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3 replies on this article “Personal finance – Finance health check request ?”
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?
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 ?
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?