Hi,
My age is 31, married, no kids, dependent mother staying with me.
Income : 70k / month
Home Loan : 22K / month, 20 years remaining
Personal Loan : 6000 / month (18 months remaining, @16%), by pre-paying I will just save 4500// in all.
Liquid cash for emergencies : 60K
FDs : 1.5 Lac
PF contribution (self + company) = 6K/month
Insurance cover = 20 Lacs, LIC , + 25 Lac Term insurance, avg. premium/month = 3500/Month
Monthly expenses : 25K
Total expenses – 22K HomeLoan – 6000K Personal Loan – 25K Expensed – 3500 Insurance = 56500/month.
Amount remaining : 70,000 – 56,500 = 13500/month
I will probably work till age of 55, i.e. 24 years from now.
I searched through forums, and found many suggestions from Mr. Ramesh and
Please suggest me where should I invest my money? I want to save for my retirement. I was planning to invest 5000/month in MF equity SIP, 3500 bank recurring, 5000 Debts. Please suggest.