What should be my investment plan

POSTED BY Ridim Chaudhary ON June 1, 2012 1:46 pm COMMENTS (5)

I am a female (age 29 yrs), earning 45000pm. I have two LIC policies for 10 yrs period, premium 6000 and 12000. i have also invested 30000 in LIC samrudhhi plus. I have a PF account in the post office which I opened last year only with 50000. I have absolutely no idea about how to make financial plans. I have always invested money based what people from family, friends have suggested (complete nishaani of a “soya” invester )…..but now after joining jagoinvester I know that one should plan his/her finances. I have the following requirements now:

1) what shall I do if I am aiming at having 1cr after 10 years (I can invest 10k per month)??
2) my husband is having a home loan of 16lacs for 20yr with interest rate of 11.5% from HDFC bank , we are planning to pre-pay 100000 per yr, is it going to be helpful or shall we think of investing tht money somewhr else??

5 replies on this article “What should be my investment plan”

  1. Ramesh says:

    Using back of the hand calculations,

    A real-investment-return rate of 4% over 10-year period, you will need to invest close to 70k per month (plus increase it by the amount of inflation per year, meaning if 10% is the inflation then increase it to 77k next year and so on). This will give you 1 crore (real values) after 10 years.

    For same thing in 20 years, put 30k over 20 years.

    I hope this wakes you up about how things really are.

  2. Ridim Chaudhary says:

    Thanks Ashal for your response……I am interested to go for Family financial planning but both me and my husband are clueless about how to invest . Can you tell me what are the charges for if I opt for this family financial planning??

    1. Dear Ridim, if you are asking for paid financial planning services, please contact me on my personal mail id.

      ashalanshu@gmail.com

      From the reply of dear Ramesh, you can understand that there is a difference between the dreaming & actually realizing our goals.

      Thanks

      Ashal

  3. Ramesh says:

    Please get your statistics right.

    1 crore after 10 year, but you will be able to invest 10k per month (translated into 1.2 lakhs a year = 12 lakhs investment over 10 years). There are no magic wand available, unless you have aladin’s lamp to get a 45% CAGR over the next 10 years.

    Please get in touch with reasonable financial planner (i know Manish/Nandish and Ashal). And please tone down your expectations. Besides you have invested for a long time in downright horrendous products (please check the returns in them).

  4. Dear Ridim, for the fact that you are married & at the same time your husband is running a home loan, my take ‘ll be to go for a family financial planning. Please update with your views on this.

    Regarding that HDFC home loan, first of all ask your husband to visit HDFC local office & ask for rate reduction. After paying 0.5% processing + Service Tax, your new rate ‘ll be 10.5%. That ‘ll be an immediate saving. Regarding that 1L Rs. if you can earn more than this 10.5% interest, invest else prepay.

    Thanks

    Ashal

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