I am 49, working in Saudi Arabia. My son is 14, daughter is 17 and my wife is a home maker. I plan to work here till 55. My own random investments are not earning good returns. I may need ₹20,000 per month to settle in my native town. Suggest me ways to reach the goals.
Raj
Marriage: For your daughter’s marriage, sell your short-term funds of ₹14.2 lakh and invest in the above mentioned allocation to reach the target. For your son’s marriage, sell hybrid debt oriented funds and invest ₹75,000 each in Mirae Asset Emerging Fund, DSP Micro Cap Fund and Franklin India Prima Plus.
Retirement: You need a corpus of ₹61 lakh to meet monthly expenses of ₹20,000 at 55. If your balances of ₹20 lakh in fixed deposits and ₹53 lakh in mutual fund earn 8 and 12 per cent returns respectively, the corpus at retirement will be ₹1.36 crore. It is more than your requirement.
Buy health policy for ₹5 lakh during your next visit to India.
The writer is a SEBI registered Investment Advisor and Founder myassetsconsolidation.com. Send your queries to blinefp@gmail.com