Is my current investment planning right to meet long term goals

At the outset, we thank you for following Advisorkhoj.

Even though you want to plan your long term goals like, children education and your own retirement, you have not mentioned the respective goal amounts and the number of years after which you want to achieve this.

Interior for your second flat costing Rs 2.5 – 4.00 Lakhs is required within 2 years and you should start saving for that through liquid funds. We find that currently you have made no provisions for this goal.

The goal of buying a 4 wheeler costing Rs 5 – 8.00 Lakhs is required after 5 years. To achieve this goal you need monthly SIP investments of Rs 5,900 – 9,300. Please check this https://www.advisorkhoj.com/tools-and-calculators...

You current Mutual Fund monthly SIP is only Rs 4,500 and therefore it can help you achieve your goal of buying a 4 wheeler after 5 years. You need to increase your monthly as soon as possible.

The monthly income of you and your spouse is Rs 50,000. If we account the home loan EMI which will be Rs 44,500 per month once you get the possession of your second flat + your current monthly expenses of Rs 7,000, you will be left with nothing to invest. Then, how you are going to continue your monthly SIPs, insurance premiums or savings for your goals?

We feel that there is a big gap between what your current monthly income is & your expenses and savings etc. We also find that you have invested too much in real estate and that is the reason you have no surplus for saving for your goals. In a situation like this, you need to rework your investment strategy and plan prudently for your future goals. It will not be and easy task given the current mismatch between income and expenses.

In case you want further suggestion do reply through the comment box given on our website under the query reply section.

Hope you find the above suggestions helpful and thanks for writing to us.