Markets
BSE See NSE See 39,046.34
85.55 (0.22%)
collapse Related Readings collapse

Building Wealth For Goals

| 5/31/2012 9:00 PM Thursday

Q: I am 25 years of age, a single, extremely independent lady living in Mumbai. I would like your advice on how and where I should diversify my portfolio.

Currently, my salary is Rs 35000, and I am due for a raise in the month of October 2012. I do not pay towards a Provident Fund. My current, miserly investments are as follows:

Fund House

Fund

Amount Invested P.A. (Rs)

LIC

 

14500

LIC Mediclaim

 

5811

HDFC Life

HDFC Endowment Assurance

5248

SBIPPF

 

1000

I live in rented accommodation, and my current monthly rent is Rs 4000, which is due to be increased.

As of now, I have stopped investment in the HDFC Tax Saver Fund, but can still invest in the same if needed.

I am originally from Goa and plan on shifting back after marriage or in the next year, if the situation permits.

Current Plans

  • Save tax and build wealth. (Do you suggest anything else?)
  • Send at least Rs 3000 to my parents on a monthly basis.
  • Get married in the next two-three years.
  • Buy property and build a house on it in Goa.
  • Save for my children (planning on two children) in terms of lifestyle, etc.
  • Provide quality education for my children.
  • Travel the world, preferably to at least one foreign destination before marriage.

What amount would you advise me to save on a monthly basis? Do you think Rs 20000 is too little, keeping my goals and my current salary in mind?

It would be great if my above queries were addressed. I appreciate your kind help in advance.

-Cyndy Mascarenhas

 

Find More Articles on: Personal Finance, Mutual Funds, DSIJ Magazine, Financial Guidance

«« First « Previous |1 2 | Last ››
news letter

More for the early bird.

Get the post-market reports and breakfast news right in your inbox. See latest »

DSIJ Mindshare

MIDHANI and HAL partner to develop bio implants

Geyatee Deshpande / Article rating: 5.0

Mishra Dhatu Nigam Limited (MIDHANI) signs an MoU with Hindustan Antibiotics Limited (HAL). This MoU will provide synergy for quality manufacturing of MIDHANI’s Bio-medical Implants and get access to the pan-India distribution of HAL. This partnership is aimed to gain advantage from the strengths of both the companies and benefit users of Bio-medical products in India.

12345678910Last

Tiger Logistics topline to grow by 10%--buoyant over infra sector status to logistics sector

Tiger Logistics topline to grow by 10%--buoyant over infra sector status to logistics sector

Logistics sector will play a vital role in making the concept of ‘Make in India’ a success. This will be further aided by some of the recent steps taken by Government of India such as granting of infra sector status to logistics sector.

Best and worst Performing Sector Funds of Year 2017

Best and worst Performing Sector Funds of Year 2017

As the year-end has approached most of you are eager to know the mutual fund movers and shakers of the year 2017. Read on to find the performance of various sector dedicated funds.

Markets may start positive, but volatility likely due to F&O expiry

Markets may start positive, but volatility likely due to F&O expiry

The start of the F&O expiry day is likely to be in the green, but volatility may creep in with the progress of the session. The SGX Nifty suggests that the Nifty could open at 10,525 with gains of 32 points at the opening bell. 

Pidilite announces buyback of Rs 500 crore

Pidilite announces buyback of Rs 500 crore

The buyback offer comprises purchase of up to 50,00,000 equity shares. The buyback offer size comprises 0.975 per cent of the total paid-up equity capital of the company.

Bank Nifty drags markets to close in the red

Bank Nifty drags markets to close in the red

The late session fall in Bank Nifty changed the direction of the market, leading to a marginal fall in the benchmark indices. Bank Nifty yet again resisted at its multiple point downward sloping trendline level at 25733.

Six major underperforming MF schemes having higher expense ratios

Six major underperforming MF schemes having higher expense ratios

Mutual funds with a large size of assets under management (AUMs) are supposed to have lower expense ratios. However, there are schemes with large AUMs but having higher expense ratios and generating lower returns. 

Nifty Pharma supports market; Sun Pharma at bullish reversal

Nifty Pharma supports market; Sun Pharma at bullish reversal

Nifty Pharma index has come in as the healer in an otherwise sluggish market. Index has given a consolidation breakout at the 9420 level today and if the it sustains 9420, followed by 9628 on the upside, it has a long way to go.

Ten stocks close to their 52-week low

Ten stocks close to their 52-week low

Following stocks are close to their 52-week low as at 12.35 p.m. on December 27.

Ten stocks close to their 52-week high

Ten stocks close to their 52-week high

The markets on December 27 opened gap down. BSE Sensex is trading at 34,068.15, up by 57.54 points and the Nifty is trading at 10,539.45, up by 7.95 points.

Five stocks with selling interest

Five stocks with selling interest

Overall volumes in futures & options currently stand at 62.75 lakh contracts with a turnover of Rs. 5,19,204.72 crore.