Do you have health insurance or financial planning queries?
Please ask your questions HERE and rediffGURU Jinal Mehta, founder of Beyond Learning Finance, an authorised education provider for the CFP certification programme in India and a certified financial planner, will answer them.
Anonymous: Hello sir. I am 38 year old. I want to invest in MF/SIP. Please suggest what is process? I am interested in SBI mutual funds.
You can either do it directly through the fund houses or you may contact any of the mutual fund distributors who can guide you. Since you are just starting off with your investments, I would suggest you contact a distributor from the AMFI website.
Anonymous: I am 50 years old. Having housing loan with Rs 16,500 EMI for another 13 years. Also I am having a cc loan for which I am paying 5000 per month interest. I have a son studying in 11th science. My monthly household expenses are Rs 12,500. My income is Rs 35,000 per month. Please guide me so that I can retire at age 60 with at least some pride.
Please pay off your loans as soon as possible, especially your credit card loan. Your debt service to income ratio should never exceed 35 per cent of your income.
In your case, it is 61.43 per cent which is extremely high. You may consider refinancing your loan or arrange for any additional income source.
Anonymous: I brought a flat (in Mumbai) from a reputed builder of India which I paid Rs 29 lakhs but the registration value with government stands as 12 Lakhs 42 thousand and 560 Indian rupees. Is it fair deal or did the builder cheated me? If so, what action should I take for the same. Kindly share your thoughts on same.
Registration value is for the government reference to evaluate the tax on property and capital gains. Since it's just a reference value, it does not include the other expenses that the builder incurs in developing the project. He has not cheated you. I think you should not take any action.
Anonymous: Respected Sir, I have SIP of Rs 10k / Fund in 3 Quant Mutual funds : Quant Small Cap Fund, Quant Mid Cap Fund & Quant Active Fund. Currently all these three funds are red with overall loss of 5 per cent to my investment value... Please suggest should I continue or exit these mutual funds?
Please stay put in your investments. Please continue your investment strategy.
Anonymous: I am 28 years old, unmarried, currently holding salary of Rs 64,000 & investing Rs 2,000 in less & Rs 500 in small cap fund. How much more investment required to secure future and generate a corpus of Rs 4 cr till 2044.
For a target of Rs 4 crore in the next 20 years, you need to invest about Rs 30,000-38,000 monthly, assuming average returns of 10-12 per cent per annum and that you will be able to increase your monthly investments by at least 5 per cent each year in line with income/salary growth.
Given that you are investing about Rs 2,500 in mutual funds each month right now, you will have to significantly increase this monthly contribution amount if you want to reach your target corpus.
We don't have information about your risk appetite. Assuming that it is at least moderately aggressive, then, you can start investing in a combination of largecap index funds, flexicap/large and midcap funds, midcap funds, etc.
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Any use of the information/any investment and investment related decisions of the investors/recipients are at their sole discretion and risk. Any advice herein is made on a general basis and does not take into account the specific investment objectives of the specific person or group of persons. Opinions expressed herein are subject to change without notice.