Moneycontrol

Chat Transcript

  • Manikaran Singal

    11 Oct - 11:00hrs

    How to maintain finance?

    Manikaran Singal Certified Financial Planner, Good Moneying Financial Solutions

Posted By: guest:

I am 30 year old guy. I am doing job in a psu last 6 years. I want to purchase a house woirth Rs. 40 Lakhs. Should I withdraw MY pf accumulation or withdraw sip corpus accumulate since last 5 years to pay for downpayment while purchasing a house.

Posted By: Manikaran Singal

: First thing first you need to decide if buying of house is important or being put in growing investments. If by all means you need to buy a house, then you should withdraw your investments in the ratio of your decided allocation. You should know what will impact you how...since your every financial decision will impact the other goals. You my check out the loan cost too, as MCLR rates are quite low and this way you may arbitrage low loan rates with high Investmnt returns. So follow the financial plan.

Posted By: guest:

My Daughters age 1.6 , if she wants to be a doctor or engineer , how much i need to save . My age is 36 ????

Posted By: Manikaran Singal

: The cost of both these qualifications vary very much. So you need to decide on the direction first. Moreover its not about your daughter`s education, your other goals should also be looked at in parallel. You will not be getting any loan for your retirement years, but your daughter may be eligible for education loan. So consider all the aspects, find out the cost of education and adjust it to the inflation, understand your cash flow and other goals and prioritize the things, and start saving in the suitable asset allocation as per your risk profile. Write and follow a detailed financial plan, so your all goals should get achieved.

Posted By: guest:

Hello, i am an indian student currently studying abroad and have managed to save upto 70000Rs internships. i wish to invest this in india but i am not sure i am entitled to do that since i currently do not pay taxes in india. Kindly advice on the best investment opportunity.

Posted By: Manikaran Singal

: There is no such condition that only those who pay taxes can invest in Indian market. Its just you have to get some documentation done like procuring Aadhar, Pan and get your KYC done, then you would be able to invest in India.

Posted By: guest:

I WANT TO INVEST 800000 RS FOR SHORT TERM DURATION 3 TO 6 MONTH WHICH IS THE BEST OPTION.

Posted By: Manikaran Singal

: 3-6 months time frame is for Very short term funds. Check out Floating rate funds

Posted By: guest:

I have taken 2 insurance policies for my 2 daughters. One Max and another LIC. In Max, the insured is my daughter and nominee is me. In LIC, the insured is my wife and the nominee is my daughter. This is confusing. What should be the right one? I think it makes more sense that the insured is the parent, since the child should get the benefits in case of eventuality to parents, right? But then is Max wrong in the way they have given the policy?

Posted By: Manikaran Singal

: In both the policies it would have been wise if you (assuming you the only breadwinner in the family) are the insured one and your daughter and even your wife would be the nominee/beneficiary. Max policy must be designed in a way to reduce the mortality charges. Check with them.

Follow us on
Available On