Good morning, I m 27 yr old married doctor & in teaching profession
In my post graduate years only i have keen interst in financial planning, in my early years due to lack of knowledge i had taken endowment policy (LIC jeevan tarang) & a ULIP ( money plus) but in later yrs due to awareness & through ur forums, i lapsed all previous policies after payment of 3 succuessive yrs.
MF: I had started 2 SIP (each 2500Rs) namely : BSL frontline equity (G), HDFC top 200 (G) 1 1/2 yrs back , i have registered SIP of HDFC top 200 G again (Rs 5000) in this month, & also planning to start HDFC eqity & IDFC premier equity ( 5000 rs each) so my total SIP through MF will be 20000 rs, im planning for mid – long term returns( 5 – 10 yrs)
Retirement: statred PPF acount of 70,000 this yr
Insurance: taken Aegon religare i term plan of 50 lakhs for 20 yrs with premium of 5350 Rs.
my wife is also doctor, together we are earning about 75,000 / mt, planning same investment for my wife also in terms of MF, PPF & insurance
Now we are expecting a child in october, so what additional things we can do for chid such as child plans/ MF etc
also I m planning to buy a new car of 5 – 6 lakh in near future, so what will be my right time to buy?