Comments
I am 38. I work with a software company and am currently on an onsite assignment. My wife is a home-maker. My daughter is four and my son, two. I will return to India in the next few years. My salary will be ₹1 lakh once I come back. Do let me know how to reach my goals.
Mahesh
Going overboard on any asset class, real estate in your case, is not desirable.
The present monthly expenses of ₹40,000 will be ₹1.54 lakh by the time you turn 58. At retirement, you need a corpus of ₹4.6 crore. The current balance in your EPF and your future contribution, once you come back, will account for ₹1.02 crore. To meet the shortfall, save more while you work abroad.
Since the savings for the children are minimal, you will be left with a monthly surplus of ₹91,000 to invest. If it earns 12 per cent return, after three years it will be ₹39.2 lakh. If you continue to hold the investments till retirement, it will account for ₹2.7 crore. To meet the shortfall of ₹89 lakh, invest ₹14,800 a month after you come back to India. That way, even if your income is ₹1 lakh you will be able to accumulate a retirement corpus without disturbing other goals. Buy a term cover for ₹1.5 crore.
The writer is a SEBI-registered investment advisor and founder, Myassetsconsolidation.com
Send your queries to blinefp@gmail.com
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.