Suresh Parthsarathy
I was working as an accountant in the Gulf, but lost my job recently. Since I am 48, most of the companies I approach are not keen to pay a decent salary. My daughter is in the second year of B. Com. Let me know if I can manage with my available funds to lead a comfortable life in a Tier II city.
Maheshwaran (Name changed on request)
Out of the rest, set aside ₹1 lakh for your daughter’s final year studies. Invest the balance in mutual funds, predominantly in balanced and large-cap funds.
If the mutual fund delivers 12 per cent return, your equity investment will be worth around ₹33 lakh by the time your daughter gets married.
Utilise ₹13 lakh for marriage. If you have a shortfall in meeting monthly expenses, withdraw through the systematic withdrawal plan to meet the family expenses.
Increase your health cover by ₹3 lakh.
I suggest you take up a job now, even if the salary is less than your expectation.
If you can just meet the monthly expenses from your salary for the next 5-10 years, you will be in a position to bequeath the house to your daughter; also, going to work will keep you fit.
The writer is investment advisor and founder Myassetsconsolidation.com. Send your queries to blinefp@gmail.com