Investment, Financial Planning, Mutual Fund & Income Tax Queries

I have made the investments for long term will they be able to achieve my goals

My name is Deb. I am from New Delhi. I have made the investment for long term prospective (20yrs to 25Yrs). Where in the goals are as follows: Child Higher Education in India – Time period: After 20yrs, need at least 80Lakhs. Child Marriage – Time Period: After 25yrs, need at least 80Lakhs-1cr. Retirement at the age of 60 (currently I am 33yrs old): Time: after 27yrs. need at least Rs. 5cr. (for Self and Wife). I am looking to have probably Rs. 8.00Cr. overall for the above requirement after 300months from today. Kindly guide if the below investments are sufficient for the above goals? My idea is to increase the investment by 20% every year in SIP from the current value. SIP Funds Name: 1) Axis - Long Term Equity (G) Rs 2000, 2) Birla SL - Frontline Equity Fund Reg (G) Rs 2000, 3) Franklin - India Prima Plus (G) Rs 2000, 4) HDFC - Equity Fund (G) Rs 2000, 5) ICICI Pru - Value Discovery Reg (G) Rs 2000, 6) Franklin India Bluechip Fund (G) Rs 5000, 7) SBI Bluechip Fund (G) Rs 5000, 8) Franklin India Tax Shield (G) Rs 5000. Other investments are: Term Policy for Self and Wife: 1cr each, RD in Post office: Rs. 2500pm, Saving Bank investment of Rs. 25000.00pm, Medical Insurance of Rs. 10Lakhs for self and wife (we have no kids). Kindly suggest?

Jan 8, 2016 by Deb Bhattacharya, New Delhi | Financial Planning

You have made the right start by investing in mutual funds through SIPs for your longer term financial goals. Over a long investment horizon an investor can expect 15 – 20% returns from equities, based on... Read More

Will the ULIP Plan yield decent return if I keep investing

I have purchased 2 IPRU Wealth Builder II 105L139V01 policies one of 50K in the year 2013 and other of 1.2lac in the year 2014 in a hurry to save tax for the respective financial years. Now I have been reading a lot about Equity and MF and now scared as most financial advisor's don't suggest ULIP plans. My query is whether should I continue investing or should I discontinue and surrender. Will the ULIP plan yield decent returns if I keep investing? My premium renewal date is near, Please help?

Jan 8, 2016 by Avinash, Navi Mumbai | Life Insurance

As a rule in the future, you should not buy life insurance policies simply for the purpose of saving taxes. The primary purpose of a life insurance policy is to provide financial security to your family in the... Read More

Kindly suggest mutual funds schemes for my daughter who is 17 years old

I am state government officer, I have invested in many mutual fund schemes. My daughter is 17 yrs old. Kindly suggest mutual funds for her She doesn't have PAN CARD. Can I invest in her name without PAN CARD?

Dec 31, 2015 by Sara Abhyankar, Mumbai | Mutual Fund

Let us first address, the second part of your question. Since your daughter is a minor, you can make mutual investment in her name with you as a guardian. Since, she is a minor her PAN is not required for... Read More

I want to invest Rs 5000 monthly in large and midcap funds

I am SANTOSH aged 22. I have to invest in equity mutual funds in long term basis. I can invest monthly around Rs. 5000. Can you suggest funds in large and midcap category?

Dec 31, 2015 by Santosh Kulkarni, | Mutual Fund

Firstly congratulations for your decision to start SIPs in equity mutual funds at a young age. If you invest through SIPs in a disciplined manner over a long investment horizon, you can create substantial wealth... Read More

Should I continue SIP in HDFC Top 200, UTI opportunities and Quantum Long Term Equity

I am doing SIP in UTI Opportunity Fund, HDFC Top 200 Fund and Quantum Long Term Equity Fund for the last 2 years. Once these funds were very good funds but for in last few years there returns have dipped. What should I do?

Dec 30, 2015 by Sundeep, Haridwar | Mutual Fund

UTI Opportunities and HDFC Top 200 Funds are both large cap funds with good long term track records. Over the last one year, they have given negative returns. But the large cap index itself, including both our... Read More

Should I prepay my existing Vehicle Loan

I have vehicle loan of 2.5 Lakh @ 10.2% and part payment/ preclosure charges is 5% and now I have around 50 thousand so should I pay my vehicle loan or go for FD?

Dec 30, 2015 by Anil, Bangalore | General

You have not provided sufficient information in your query. However, if you think about your financial decision in a very logical way, it should be fairly rational decision. You should consider two points, while making... Read More

Query regarding availing income tax exemption on Home loan and Rent paid

I have a query regarding availing tax exemption. I am staying in rented house till this month. Also I got possession for my newly purchased house this month. Can I avail tax exemption on rent paid for April to December 2015 and Interest and principal paid for home loan since April 2015 to March 2016?

Dec 28, 2015 by Amol, | Taxation

You can claim tax deduction for house rent payment. If you are salaried and receive House Rent Allowance from your employer, the Maximum allowable deduction is the least of the following... Read More

What should I do if my Mutual Fund SIP is not doing good

If any of my SIP in mutual fund is not doing well what should we do? 1. Only stop SIP and start sip in a new fund and let the fund balance grow in that old fund? 2. withdraw all the balance in that mutual fund along with SIP in a new fund?

Dec 28, 2015 by Sundeep Nigam, Haridwar | Mutual Fund

When you are faced with the problem of underperformance you should remember four points... Read More

If funds giving good return should be part of every portfolio or is there any caution

ICICI Pru Value Discovery Fund, Franklin India High Growth Company Fund, Franklin India Prima Plus these funds have given very good return in short and long term. Should these funds be in every portfolio or there is some caution?

Dec 28, 2015 by Sundeep, Haridwar | Mutual Fund

All three diversified equity funds mentioned by you have been among the top performers for a long period of time. All three funds are now diversified flexicap or multi cap funds. Many investment experts believe... Read More

Please suggest me schemes with SIP Insure facility

I want to invest SIP with insurance benefit, please provide information about fund & features of scheme?

Dec 24, 2015 by Narendra Pandya, Surat | Mutual Fund

Birla Sun Life Century SIP: The tenure of Century SIP is 55 years minus the age of the investor. However, the investor may discontinue the SIP, at any time, by intimating Birla Sun Life. However, exit load will... Read More