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Sanjay: I have borrowed a sum of Rs 7.50 lakhs from my friend as loan on interest @ 7% pa.
I am getting a maturity of NSC amounting to Rs 9 lakhs very soon.
Should I return the loan amount or should I continue with loan and reinvest my maturity in mutual funds, etc.
Please advise.
It largely depends on your financial goals.
While it is always advisable to aim to be debt-free, if you require liquidity for other investments, you may consider repaying a portion of the loan and reinvesting the remaining amount.
For instance, you could repay half the loan and deploy the balance into investments aligned with your goals.
Also, keep in mind that if you repay the loan to your friend, they may be able to utilise those funds to meet their own financial goals.
Salam: Hi. This is my second question after one and half years.
I am running 37 years old. My in-hand salary after all deductions is Rs 77k.
I have loan EMI of Rs 32k which is going to end in Feb 2027.
I don't have any savings and mutual fund. How do I start financial planning and investment?
I have my wife, 6 years old son and 4 years old daughter. No other dependents.
I would like to plan investment for house building after 7 years (my own plot around 1500 sq ft).
Kindly advise.
You can start by saving a small amount before pursuing this goal.
Personally, I would suggest prioritising your children’s education before planning to build a new home. In my opinion, this should be the priority, especially considering that education inflation is currently in double digits.
Since you already own a home, it would be prudent to begin with small investments and gradually increase the investment amount over time to work towards these goals.
Once your existing loan is repaid, you can redirect the same EMI amount towards funding these goals.
Anonymous: I am 35 years old lady and single parent of a 5 years old kid.
My take home salary is Rs 75k and a widow pension Rs 3k, so total my income is Rs 78k monthly.
I have a home loan of Rs 10 lakhs of 3 years expenditure:
1) Spending Rs 30k/month as EMI
2) Rs 90k school fee/year
3) Rs 60k/year maintenance of my flat
FD savings has Rs 45 lakhs in SBI, another Rs 4 lakhs in FD, Rs 2 lakhs in liquid fund, one RD of Rs 2500 per month in post office and recently started investing in two SIPs, Rs 10k each.
Each month I can save hardly Rs 15k after all expenditure.
Sir, please guide me how I can save more and where I should invest so that after 10 years I can reach Rs 1.5-2 crore.
Your suggestion will be highly appreciated.
Thank you.
While it’s possible to create broad estimates based on the details shared, this question cannot be fully answered with precision because some important information is incomplete or not specified.
We suggest you meet a financial advisor to get appropriate solutions to your problems.
Also, Rs 1- 2 crores in 10 years is unrealistic. You may meet an advisor and reconstruct your budget and investment strategies.
This will help you save more.
Anonymous: My age is 34 years, male.
I have a monthly income from salary Rs 75,000, assuming a 7% increase every year and my wife would support with salary from 3rd year with Rs 20,000. I have old property I would sell for Rs 40,00,000 to help with down payment and reduce loan amount.
Currently I have a debt of Rs 10,00,000 and EMI of Rs 30,000 for 3 years and have around Rs 2,00,000 in PF account.
I am planning on buying a property worth Rs 1,35,00,000 and would get rental income of Rs 60,000 from it but I need to take a bank loan for 30 years at 8.75% interest rate.
For emergency I have Rs 6,00,000 in gold. So analyse and tell me what would the outcome be?
Looking at your current scenario, if you take up additional loan -- and since most of your personal goals are unachieved as per the information provided -- I feel you could take some additional time to consider your decision.
On paper it looks fancy, unless there is a back-up plan.
Make sure your debt service ratio which is the yearly EMIs/yearly salary should not exceed 35%.
Sushovan: Hi sir, I am 38 and right now my take home salary is Rs 1.2 lakhs.
I invest Rs 25k every month in MF for the last 4 years and will continue whatever happens.
I have accumulated roughly 50 lakhs in PF and continue to contribute 6% of my salary towards PF till retirement.
I have stocks worth 4 lakhs and gold (digital) worth Rs 2 lakhs.
My salary increment is 3% yearly.
Tell me what I can retire with if I want to retire at 55 or if I retire at 60 what will be my net worth.
Also I have PPF worth Rs 2 lakhs with monthly investment of Rs 1,500 per month and NPS worth Rs 10 lakhs with Rs 5,000 per month investment continuing.
I have a kid studying in class 2.
While it’s possible to create broad estimates based on the details shared, this question cannot be fully answered with precision because some important information is incomplete or not specified.
We suggest you meet a financial advisor to get appropriate solutions to your problems
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