Moneycontrol

Chat Transcript

Posted By: guest:

My child is 6 yrs old and my monthly income is 82K. how can i plan for his graduation?

Posted By: Ayush Bhargava

: You have 11 years to accumulate funds for your son`s graduation. You can set target by inflating today`s education cost with 10% (average) for next 11 years. For ex. if today`s cost for graduation is Rs. 5 Lakh then after 11 years the same will cost you Rs. 15 Lakh approx. So you need to plan for Rs. 15 Lakh. This can be achieved by investing small amount every month into Equity Mutual Funds. For the above example you need to invest Rs. 6,000 per month to achieve this kind of goal. Would Suggest you to take help of investment adviser.

Posted By: guest:

For a senior citizen please suggest some scheme??

Posted By: Ayush Bhargava

: For senior citizen there are several products available like Post office senior citizen saving scheme, fixed deposits, annuity plans, etc. All are different. One can also invest into mutual funds with proper strategy if suits according to risk profile. Suggest to discuss more about products with an investment adviser who will guide you according to your requirement.

Posted By: guest:

want to save atleast 50 lacs for children education after 15 years. how much I shall invest monthly in sip and suggest any schemses

Posted By: Ayush Bhargava

: To accumulate fund of Rs. 50 Lakh after 15 years you need to invest Rs. 11,000 monthly with an expected portfolio return of 12% annually. You can select the funds from the list available on moneycontrol website. You can also take help of an investment adviser.

Posted By: guest:

I need a amount of around 50 lacs after 15 years for my daughters education. I have appx. 7 to 8 lacs cash avl with me . I can also save monthly through SIP or mutual funds. please advice.

Posted By: Ayush Bhargava

: If you invest your surplus cash amount into equity mutual funds with proper strategy and suppose portfolio will generate 14% average return then you will achieve your target goal of Rs. 15 Lakh in 15 years. No extra SIP is required in that case. We are here considering that you have enough of your emergency fund in place. Alternatively, you can also achieve your goal by investing Rs. 11,000 per month into equity mutual funds, without disturbing your surplus cash balance. Suggest you to hire a financial planner / investment adviser who will guide you according to your risk profile.

Posted By: guest:

Hello Sir, Dr A Sharma here. I have a ques regarding person loan for my sisters wedding. I am a govt servant with gross monthly income of 1.1lakh.My expenditure are as following.. PPF 20K,Group insurance 5k,SIP 16k, tax 15k, other expenses 15k.I have accumulated 3 lakh in PPF and 4 lakh in various mutual funds including SIP. Now for my sisters wedding i need some 8 lakh. Should I use my savings for that or take a personal loan for same. Please also guide me for my future investment planning with view that i am getting married next year. Thanks in advance.

Posted By: Ayush Bhargava

: Dear Mr. Sharma, Do you have enough emergency fund in place? Were you investing into mutual funds for some goals? If we calculate your expenses and investment you still have 30k surplus with you. If you go for Rs. 8 Lac loan EMI will cost you around 25k per month. Can you afford that? If not then will suggest you go for less loan and for rest amount use mutual fund savings. You can use your PPF amount next year for your own wedding.

Posted By: guest:

Hello Ayush I needed to know how to best use a credit card, without getting into a debt trap. Of late, I feel this has been the bane of many people, me included, where judicious use of money and savings have taken a hit. Thanks for your advice. Regards Asar

Posted By: Ayush Bhargava

: Hello Asar, While planning for any family or individual, I personally advise not to use Credit card frequently and use debit card instead and else can use it only for emergency expenses. Yes, there are many who are not able to handle the card and ends up paying EMI for months. The best way to use CC is to use it during emergency like in hospital or for rail tickets or for hotel stay, which is easily manageable to pay back when CC bill comes after 40-50 days.

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