Q. Dear Sir. My 40th birthday is approaching soon. My current salary package is around Rs.40 lakhs. However, in the name of investments, I only have accumulated some amount in my provident fund. Besides, I have acquired an apartment for which I am paying an EMI for last 7 years and still have to pay for eight more years. I have two young daughters and my wife is a house maker. Please suggest how can I secure my future. -Arun Singh, Mumbai
A. Dear Arun, “Better late than never”. First you need to ensure that you save at least 30% of your annual salary i.e. Rs. 12 lakhs in the whole year or Rs. 1 lakh per month. This amount of Rs. 12 lakhs should be prudently invested in a variety of schemes to ensure that your future is well secured and you are able to achieve all your important financial goals as well as take care of your retirement planning also.
We are suggesting you to split your savings of Rs. 12 lakhs in following investment/insurance schemes.
Please note that as you are approaching your 40th birthday, you must allocate 60% of your total savings in equity schemes by following the fundamental principle of financial planning that is 100 minus your age into equity. You should start five Sips of Rs 12000 each in different fund categories like large cap, mid cap, flexi cap and thematic fund etc. 10% of your total savings should be invested in Gold and that is why we are recommending you to invest Rs. 1.20 lakhs in Sovereign Gold bonds. We are confident that by taking these simple steps you will be able to secure a golden future for yourself. For more details, please contact the nearest Bajaj Capital branch and get your financial plan prepared.
Bu hikaye Investors India dergisinin December 2021 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Giriş Yap
Bu hikaye Investors India dergisinin December 2021 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
Indians are Developing Weak Bones
In India, 1 out of 8 males and 1 out of 3 females suffer from osteoporosis, making India one of the largest affected countries in the world.
"The strategy behind the Tata India Innovation Fund centers on identifying companies that are driving transformative or incremental changes through innovation"
Yes, we certainly believe innovation is a powerful theme with immense potential for the coming years, and we are excited to bring it to our investors.
What is Hybrid Mutual Fund?
Hybrid Mutual Fund is a combination of more than one type of fund. While they invest in shares of companies listed on the exchange, like equity funds.
Should you invest in dynamic bond funds?
Dynamic bond funds have delivered a category average return of 8.68 per cent over the past year, making them the fourth best-performing category, following long-duration funds, constant maturity gilt funds, and gilt funds. With interest rate cuts yet to begin, these funds remain a viable option for investors seeking to benefit from possible rate reductions.
The Multicap Solution to India's MultiDimensional Growth
India is entering a transformative era of economic growth, backed by a unique combination of demographic strength, infrastructure development, and rising global prominence.
The Long-Term Benefit of Investing in Children's Future
A child is the most treasured part of any parent's life, and naturally, we want to give them the best of what the world has to offer. This often means not only ensuring we can meet their needs but also nurturing them to pursue their unique aspirations. Each child has their own dreams and challenges, making the early years critical as they lay the foundation for a healthy and fulfilling future.
ASK THE EXPERT
Ques. One of my friends told me that your company provides detailed Retirement plans. I want to know what is the procedure to get my Retirement plan. I will be retiring in March 2025. R.P Gupta, Noida
How to Naturally Reverse Fatty Liver Disease
The liver, located on the upper-right side of the abdomen, is the body’s largest internal organ and plays a critical role in detoxifying the blood and processing nutrients.
Banking sector which has underperformed in the last two years, now offers a favorable risk-reward profile
Do you think the market is overpriced? Is yes, should investors refrain from investing in index schemes at the current valuation?
India will continue to enjoy benefits of a close US relationship and trade will continue to grow
Q1. The US elections are said to be one of the closest till date, what impact will the election of a Republican / Democratic party have on the US economy and how is that going to affect India in the short as well as the long term?
