I am 36 years old and my wife is a home maker, aged 32. We have two children — a 6-year-old daughter and a 2-year-old son.

My monthly salary is Rs 1 lakh. After paying home loan EMI of Rs 35,000 and monthly expenses of Rs 30,000, our surplus is Rs 31,000, which I invest in mutual funds through the SIP route.

The contribution to EPF is Rs 3,500 a month and my total balance is Rs 3 lakh.

I have taken a term insurance policy for Rs 90 lakh and a floater health cover for Rs 5 lakh.

I am servicing two home loans of Rs 30 lakh of which Rs 22 lakh is covered.

I live in one house and have let out the other for Rs 3,500.

My investment in direct equity is Rs 5 lakh and in FD and bonds I have parked Rs 1.2 lakh.

I have three plots and their current value is Rs 30 lakh. The combined value of my residential property is Rs 95 lakh.

I have invested in 15 mutual fund schemes whose value is Rs 9.85 lakh.

Through systematic investment plan, I am investing in seven equity schemes and one Gold ETF.

My goals are:

I need to save for my daughter’s education, a sum of Rs 10 lakh in 10 years. For her PG in 2026, I need Rs 10 lakh.

For my son’s graduation I need Rs 10 lakh in 2026 and some money for his PG in 2030.

For my daughter’s marriage I need Rs 10 lakh in 2030.

All figures are in present value.

Based on my present monthly expenses how much do I need at retirement? Can I retire early? I expect to live till 80.

— Vijay

Since all your goals are long-term in nature, you can reach the targets comfortably.

Construct a portfolio with asset allocation ratio of 70:20:10 in equity, debt and gold.

### Education

For your daughter’s graduation you will need Rs 19.68 lakh, if inflation is seven per cent (same inflation applied for all calculations).

Save monthly, a sum of Rs 8,550 for the next 10 years. Rate of returns assumed is 12 per cent in all cases.

For her post graduation, the cost will be Rs 25.78 lakh and to reach the target, save a sum of Rs 5,970 for the next 168 months.

For your daughter’ marriage, you need Rs 33.8 lakh and to reach the goal, invest monthly a sum of Rs 4,460 .

For your son’s graduation you will need Rs 25.7 lakh and to reach the goal you need to save monthly a sum of Rs 5,970.

For his post-graduation save Rs 4,460 for the next 216 months. Earmark SIPs for specific goals.

### Retirement

At 58, you should have a corpus of Rs 2.58 crore and it should earn inflation adjusted return of one per cent till you turn 80.

With your MF investments and EPF accumulation you can reach a target of Rs 2.13 crore. If your direct equity investments deliver 15 per cent return you can contemplate retiring at 53.

### Investment strategy

Restrict yourself to two funds each in the large-, mid- and small-cap category and add a gold ETF. (The author is CEO, Myassetsconsolidation.com)