Kewal and Bhumi Rathod both work in Mumbai, they get a combined monthly salary of Rs 4.34 lakhs. He lives in his own house with his two children aged two and eight. Her goals include building an emergency fund, taking a vacation, saving for her children’s education and weddings, and saving for herself. retirement, they have to leave the target holiday till the increase in investible surplus.

Financial planner Pankaj Malde has calculated an emergency fund of Rs 8.7 lakh, which is equivalent to three months’ expenses. They will have to allocate their cash of Rs 4.5 lakh and invest it in ultra short-term or money market funds. They should save the remaining amount before they start investing for their goals.

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cash flow

For the education of his elder child, he needs Rs 79 lakh in 10 years. They can allocate half of the equity fund corpus and continue with a SIP of Rs 32,000 in diversified equity funds. For the education of a small child, he needs Rs 1.1 crore in 16 years. They can allocate the remaining half of the equity fund corpus and start a SIP of Rs 18,000 in a diversified equity fund. He needs Rs 80 lakh for the marriage of his eldest child in 17 years. They can allocate half their gold and Sukanya Yojana funds, and continue investing Rs 2,500 in Sukanya scheme, start a new SIP of Rs 8,500 in a diversified equity fund and Rs 2,500 in Gold ETF/Gold Bond scheme can start in.

how to invest for goals

For the marriage of a small child, he needs Rs 1.2 crore in 23 years. He will have to continue investing Rs 2,500 every month in Sukanya scheme, start a fresh SIP of Rs 6,500 in Diversified Equity Fund and invest Rs 2,500 in Gold ETF/Gold Bond Scheme. Rathod will need Rs 9.1 crore for retirement in 21 years, and he can invest in his stocks, mutual funds, PPF, EPF and NPS. They will also have to invest Rs 50,000 in Diversified Equity Fund, Rs 5,000 in US ETF/Fund, Rs 5,000. NPS, Rs.5,000 in Gold ETFs/Bonds and Rs.1,000 per annum in PPF.

For life insurance, Rathod has a term plan of Rs 3.35 crore and a traditional plan of Rs 45 lakh. Malde suggests that they continue these. For health only, he has Rs 3 lakh plan, Rs 8.5 lakh family floater plan and Rs 20 lakh top-up plan from his employer. Only has a plan of Rs 5 lakh for his parents. Malde suggests that they continue with all these plans and buy an accidental disability plan of Rs 50 lakh only, which will cost Rs 667 per month.

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Financial Planning by Pankaj Malde Certified Financial Planner

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