7 replies on this article “Please Suggest me a Financial Road to Walk on”

1. Ashal Jauhari says:

   August 24, 2013 at 4:57 pm

   Dear Sushil, you are not asked to say sorry for posting your question. Actually this forum is meant for asking/posting your queries. You were advised to have a look of past queries which are similar in nature to your query. This ‘ll help you in 2 ways. you ‘ll get a feel about your own situation at the same time you can post specific queries to your situation.

   Here I’m answering to your fresh queries.

   1. Please continue with this floater. there is nothing called Best Insurer.

   2. Please research a bit for Critical illness plans in details. The complications involved in filing a claim for CI plans & getting reimbursed, indicate that it’s not a worth of your money.

   3. Please read my reply 2 above & research a bit on CI plan. You may visit http://www.freefincal.com for the recent post on CI plans.

   thanks

   Ashal

   Reply
2. vijaya kumar Tadikamalla says:

   August 24, 2013 at 12:35 pm

   Hi all

   First of all, Sorry for posting my question here. As I am new to this blog I don’t know how to create a thread to my question.

   1. I had taken Religare care recently a floater plan of 5 lakh. for me and my wife. Is there any need to change my health insurance plan to other good company?
   2. Now I am looking for a Critical illness plan of 25 lakh. for me and accidental policy of 10 lakh.? Please suggest me a good plans for these two policies?
   3. My age is 29 and my wife age is 23. My wife is a house wife. So is there any need to take critical illness policy to my wife, as she is not working.

   Thanks.

   Reply
3. Ashal Jauhari says:

   August 17, 2013 at 9:37 pm

   Dear Sushil, before investing money, please invest time in reading past discussion here in the forum. All the things can be discussed later on.

   thanks

   Ashal

   Reply
4. Sushil says:

   August 17, 2013 at 12:23 pm

   Apart from Emergency Fund and Insurance……….what other Investment avenues can be taken by me?
   How much FD? Which Mutual Fund? How much amount per month?
   How to increase equity exposure?
   How to plan for Specific Requirements that i have mentioned?

   Reply
5. Ashish Garg says:

   August 17, 2013 at 9:29 am

   Dear Sushil,

   Just like you I am also learning on the financial life and this site has helped in clearing lot of doubts about the financial plan.

   You have assessed your current scenario and basis that have done savings / investments and now want the future course. I think, first of all you need to look at your emergency fund. Since you are the sole earner and this is very important in case of a single earner. This can be equal to about 6 months expenses that you can not avoid.

   Next step look at your life insurance. Are you sufficiently covered? I think your total life insured value would be about 12-15 lakhs. Just assume will that be enough for your family in your absence? If not look at online term plans (economical and easily available). Go with the company you feel comfortable with (say HDFC, ICICI, TATA, Birla, Bajaj etc.).

   Your wife is not earning but still is insured, insurance is to secure and not just for the sake of having a policy in your name. In case she plans to work after a few years, make sense, else you may choose to discontinue this policy and use this premium to increase your insurance value.

   As already suggested above, you need to increase your equity exposure to meet your goals. But first, you need to set your stage 1 in correct place (emergency fund, insurance).

   Ashish

   Reply
6. Krishna Kishore Appala says:

   August 16, 2013 at 11:45 pm

   Dear Sushil,

   If you want your answer, I would say
   1) Stop all Money back and Komal jeevan policies.
   2) Increase your equity exposure. 2000 per month is not at all sufficient.
   Rest all is on track.

   But tell me, does this make sense. What if I tell you to do this and do that, and there are many chances that I am not correctly guessing your Risk appetite, Retirement Life style etc etc.

   My sincere suggestion is Please approach a Financial Planner. With a net worth of 1 crore +, this will not cost you much.

   Warm Regards,
   Krishna Kishore A

   Reply
   1. Sushil says:

      August 17, 2013 at 11:24 am

      Regarding My Risk Appetite I would like to clarify that i can take medium risk……neither i am risk avoiding person nor much risk taking person
      Regarding Retirement Lifestyle , i I would like to clarify that i live a simple daal roti lifestyle…..no luxuries……….

      Regarding Emergency Fund……i m thinking about it from last 2 months but still i have no funds. I will make Emergency Fund as soon as possible

      Regarding Wife Insurance, i have taken her insurance due to her low life expectancy.Though she has started a boutique 10 days ago and started earning very little

      Regarding increasing Equity Exposure, please suggest in detail what to do and how ?

      Reply

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