- March 7, 2022
- Posted by: Bastion team
- Category: World News
Financial Planner Pankaaj Maalde suggests that Reddy first repay his Rs 5 lakh loan after selling land worth Rs 10 lakh. The remaining amount can be used to build an emergency corpus of Rs 4.56 lakh, which is equal to six months’ expenses. It should be invested in an ultra short-term fund. Reddy wants to take a Rs 7 lakh vacation in five years, for which he can start an SIP of Rs 10,000 in equity savings fund.
For his kids’ education in 10 and 13 years, he will need Rs 1 crore and Rs 1 crore, respectively, and should start SIPs of Rs 43,000 and Rs 26,000 in diversified equity funds. For their weddings in 17 and 20 years, he will need Rs 50 lakh and Rs 50 lakh, respectively. For the older child, he should allocate 50% of the Sukanya corpus, and start an SIP of Rs 6,000 in a diversified equity fund and Rs 2,500 in the gold bond scheme. For the younger kid, he should assign the remaining 50% of Sukanya…
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