Query Corner: Finance
Our PF expert Pankaj Mathpal,Certified Financial Planner helps you navigate the complex world of finance. Email YOur Questions to etquery@indiatimes.com.
My mother is 80-years-old has around Rs 8 lakh available for immediate investment. She has utilised the entire Rs 15-lakh limit in senior citizens scheme. Where should she invest?
Nilima Naik
Considering the age of your mother, I advise her to invest in safe financial instruments such as Post Office-Monthly Income Scheme or government bonds.
If an individual wants to break the lease within six months despite a lock-in period of six months, what are the implications on the tenant? Kindly advise.
Sunil R Asrani
As per the terms and conditions, neither of the party can terminate the agreement before the lock-in period of six months. If you want to terminate the agreement without the consent of another party, it shall be considered as a breach of trust and may attract legal proceedings under the Indian Contract Act. If you have a genuine reason, you should discuss the matter with the landlord and mutually find some solution which benefits both the parties.
I am 41-years-old and invested in mutual funds and life insurance. My annual expenditure is Rs 1.2 lakh. I want to open two recurring deposits, a pension plan, term policy of Rs 10 lakh and a mediclaim. Please advise.
Harendra Tiwari
You can open a recurring deposit with a bank. Instead of a pension plan, I advise you to invest in diversified equity mutual fund schemes. Buy Aegon Religare iTerm Plan on your name and a floater health insurance policy which would cover your entire family.
I am 29-years old and into manufacturing of auto parts. I want to invest an amount of money on a regular basis to generate a corpus of Rs 1 crore for my 3-year-old son’s education by the time he turns 18. I can invest Rs 20,000-25,000 or even more on a monthly basis. Please suggest an investment plan and recommend some good mutual funds as well.
Rajesh Jain
Invest in diversified equity mutual fund schemes through the SIP route to build a corpus of Rs 1 crore after 15 years for your child’s education. You can choose the schemes like HDFC Top 200 fund, Birla Sunlife Front Line Equity Fund, Reliance Regular Saving Scheme-Equity Plan and SBI Magnum Contra Fund, which have been consistent performers over the years.
I am going to retire in April 30, 2010. I shall be getting around Rs 40 lakh as retirement benefits and a monthly pension of Rs 30,000, plus a facility of free medical treatment/reimbursement for my family. What should be my investment plan?
RK SINGHAL
Keep around Rs 2 lakh in money market MF scheme for contingency needs. Invest Rs 15 lakh in senior citizen saving scheme and you can invest the rest in MFs-Monthly Income Plan.
Nilima Naik
Considering the age of your mother, I advise her to invest in safe financial instruments such as Post Office-Monthly Income Scheme or government bonds.
If an individual wants to break the lease within six months despite a lock-in period of six months, what are the implications on the tenant? Kindly advise.
Sunil R Asrani
As per the terms and conditions, neither of the party can terminate the agreement before the lock-in period of six months. If you want to terminate the agreement without the consent of another party, it shall be considered as a breach of trust and may attract legal proceedings under the Indian Contract Act. If you have a genuine reason, you should discuss the matter with the landlord and mutually find some solution which benefits both the parties.
I am 41-years-old and invested in mutual funds and life insurance. My annual expenditure is Rs 1.2 lakh. I want to open two recurring deposits, a pension plan, term policy of Rs 10 lakh and a mediclaim. Please advise.
Harendra Tiwari
You can open a recurring deposit with a bank. Instead of a pension plan, I advise you to invest in diversified equity mutual fund schemes. Buy Aegon Religare iTerm Plan on your name and a floater health insurance policy which would cover your entire family.
I am 29-years old and into manufacturing of auto parts. I want to invest an amount of money on a regular basis to generate a corpus of Rs 1 crore for my 3-year-old son’s education by the time he turns 18. I can invest Rs 20,000-25,000 or even more on a monthly basis. Please suggest an investment plan and recommend some good mutual funds as well.
Rajesh Jain
Invest in diversified equity mutual fund schemes through the SIP route to build a corpus of Rs 1 crore after 15 years for your child’s education. You can choose the schemes like HDFC Top 200 fund, Birla Sunlife Front Line Equity Fund, Reliance Regular Saving Scheme-Equity Plan and SBI Magnum Contra Fund, which have been consistent performers over the years.
I am going to retire in April 30, 2010. I shall be getting around Rs 40 lakh as retirement benefits and a monthly pension of Rs 30,000, plus a facility of free medical treatment/reimbursement for my family. What should be my investment plan?
RK SINGHAL
Keep around Rs 2 lakh in money market MF scheme for contingency needs. Invest Rs 15 lakh in senior citizen saving scheme and you can invest the rest in MFs-Monthly Income Plan.
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