|Author: Mahesh 17 Dec 2015 Member Level: Gold Points : 5 (Rs 5) Voting Score: 0|
Your investment sounds very good. And I don't think you should change anything from the one you have done as of now. You should make few changes towards future investment like removing interest towards gold and NSC.
I'd add PPF/EPF and FD component to current folio. This would balance the debt side and compensate for gold bonds.
NSC is a good investment only if you don't mind the lock in period and the Govt interest of reducing the returns from NSC. I suggest EPF/PPF from the existing investment instead of NSC. You should also avoid ULIP if possible.
Gold bonds are good but current generation investing less into gold and the market value of gold going down. So this shows you gold may recover in future but it is not going to be enough for your needs.
I'd say contact the financial planner and think of investment from here onwards as investing for the retirement.
|Author: Kailash Kumar 17 Dec 2015 Member Level: Platinum Points : 2 (Rs 2) Voting Score: 0|
The author is already dealing with the products of six companies namely SBI, Post office, Franklin India, LIC, Tata AIA, ICICI plus other shares. In my opinion further diversification is not advisable at least not in NSC or gold bonds. However from tax saving point of view Public Provident Fund (PPF) Account is considered as one of the best investment option.
|Author: Partha Kansabanik 18 Dec 2015 Member Level: Diamond Points : 3 (Rs 3) Voting Score: 0|
My free and frank advice for you:
(a) Your present investment seems to be TOTALLY WRONG considering your financial position.
(b) Immediately open a PPF Account and religiously put Rs. 5000/- every month in this account.
(c) Immediately subscribe to a family health insurance of at least Rs. 5 lakh for the entire family, if your family is not presently covered by any health scheme.
(d) Try to stop paying premia to other insurance policies, or discontinue these policies. Instead opt for a term insurance policy of at least Rs. 50 lakh. The yearly premium would be much less.
(e) Considering your monthly salary, don't invest in mid and small-cap funds. Instead opt for large-cap, bluechip fund. You can shift your invested amount from the mentioned fund to Franklin India Bluechip fund and continue investing in this fund through SIP route.
(f) Always remember that Insurance is not an investment, it only provides you a protective umbrella. So don't subscribe to policies for investment, or for saving tax. Instead take a term insurance policy at much less premium and invest the saved amount in bluechip mutual fund and PPF.