The best Child’s education marriage house is the
The best Child’s education marriage house is the : Most people have the idea to invest. But nobody knows what to invest in. First of all, when we think about investment, we think about how much profit it will give, but we also think about whether it is safe? When you invest? Are you going to invest for the long term? Or are you going to invest for short term?
What is important to note? Let’s see
A profitable investment :
Although long-term investment is generally seen as a good and profitable one, there are some goals for the short-term as well. So it is better to plan accordingly. And what is the risk involved in the investment? Is it more beneficial? Is it safe to invest above all? Let’s see.
Investing for tax benefits? :
A 33-year-old IT employee (Ravi) and his 27-year-old wife (Geeta) are both working. Both have been maintaining EPF account for 5 years. Now they are investing in public provident fund scheme. In which they invest to get tax deduction of 80c.
NPS scheme :
Along with this they are also investing in NPS Tier 1 scheme through 70% equity and 30% corporate bonds. Every year they are investing 50,000 rupees. Along with this, from January 2022 onwards, they are investing Rs 5000 per month in Axis Small Cap Bundle and Rs 2000 per month in HDFC taxsaver regular scheme from 2019 for tax benefits.
Plan to do more? :
Apart from this they have also planned to invest in Mirae asset emerging bluechip fund direct growth and ICICI Prudential Nifty 50 index fund. They plan to invest Rs 10,000 each.
Insurance plan :
Apart from this, there are 2 LIC policies, one is Jeevan Anand Plan – 149 Lump sum amount, of which 5 lakhs is the sum assured, 1653 rupees as premium and Jeevan Charal Plan – 165 plan is paying monthly premium of 1021 rupees. It was launched in 2013. Can we continue this? Or surrender?
What is the goal? Our target is Rs 5 crore in 30 years. They told me that in 20 years I have to pay 2 crore rupees for children’s education, 1 crore rupees in 10 years to build a house and 20 lakh rupees in 5 years to prepay my house loan. So are these investments optimal for achieving our 5-10-20-30 year goals? What should be changed in this? What can be added? Want to increase our SIP? have asked.?
What change? :
LIC Life policy can be continued as it is. This is a necessary one. But Jeevan Charal plan can be surrendered after completion of 10 years. Instead the investment can be converted into an equity mutual fund contribution with a premium. 2500 per month through Myre Asset Emerging Bundle SIP. Remaining Rs 7500 per month can be invested in Barak Parik FlexiCap Fund. 2500 per month through Myre Asset Emerging Bundle SIP. Remaining Rs 7500 per month can be invested in Barak Parik FlexiCap Fund.