POSTED BY May 31, 2014 10:01 am COMMENTS (3)ON
Below is my current scenario about my goals.
1. Short term goal (Time at hand- 1 year)
2. Long term goal (Time at hand – 10 years)
Below is the outline of my plan to achieve it.
1. Short term goal – Sister’s marriage
Plan: Planning to take RD or RD+ for a target fund of Rs. 2,00,000 in a year. So, monthly deduction toward RD or RD+ would be apprx Rs. 17,000. For the rest of the required amount for marriage, I have other options. So, my question is directed only towards the targeted amount.
Question: Do I have any other option to achieve the goal with some extra cash to earn with it.
2. Long term goal – Son’s education
Plan: Plan is to invest Rs. 50,000 per annum as single premium for a duration of 10 years.
Question: What investment options do I have to maximize the fund to its fullest at maturity.
I understand the only long term plan, would not help the cause. I would go ahead with another plan from next year based on my income. I would like to know the options based purely towards the current long term goal I have set.
Detailed suggestions are very appreciated.