{"id":423,"date":"2015-07-05T09:14:06","date_gmt":"2015-07-05T09:14:06","guid":{"rendered":"http:\/\/www.myassetsconsolidation.com\/investment-advisory\/?p=423"},"modified":"2015-07-05T09:14:06","modified_gmt":"2015-07-05T09:14:06","slug":"avoid-unwarranted-expenses-for-wealth-accumulation","status":"publish","type":"post","link":"https:\/\/myassetsconsolidation.com\/blog\/avoid-unwarranted-expenses-for-wealth-accumulation\/","title":{"rendered":"Avoid unwarranted expenses for wealth accumulation."},"content":{"rendered":"<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p><b>I am a 45-year-old building contractor. My wife, 42, is a homemaker. My daughter is in class 1. In the past few years my business has slowed down and my income has been fluctuating. Please suggest how I can meet my daughter\u2019s education and marriage expenses and lead a peaceful retired life.<\/b><\/p>\n<p><i>Murthy<\/i><\/p>\n<p>Going by your net-worth it is clear that you have not planned well in the early part of your career. You need to scrupulously avoid unwarranted expenses.<\/p>\n<p><b>Education<\/b>: The insurance policy along with ?2,300 monthly savings for 11 years, (11 per cent return) should meet the goal. Invest 50\/50 in debt and equity mutual funds.<\/p>\n<p><b>Marriage:<\/b>\u00a0Gold accounts for over half of the total wedding expenses of ?1.2 crore (if gold price and inflation increase at 7 per cent in the next 18 years); invest ?17,500 monthly, earning 11 per cent.<\/p>\n<p><b>Retirement<\/b>: Assuming ?25,000 a month for household expenses now, you need ?1.6 crore at retirement to meet expenses till you turn 80 and it should earn 1 per cent return over and above inflation. Save ?24,300 every month after your personal loan is paid off.<\/p>\n<p>Be sure to invest more as income increases.<\/p>\n<p>Buy a term insurance for ?75 lakh and increase your health cover to ?5 lakh.<\/p>\n<div>(This article was published on July 5, 2015)<\/div>\n<p>&nbsp;<\/p>\n<div><\/div>\n","protected":false},"excerpt":{"rendered":"<p>&nbsp; &nbsp; I am a 45-year-old building contractor. My wife, 42, is a homemaker. My daughter is in class 1.<span class=\"excerpt-hellip\"> [\u2026]<\/span><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"yst_prominent_words":[],"_links":{"self":[{"href":"https:\/\/myassetsconsolidation.com\/blog\/wp-json\/wp\/v2\/posts\/423"}],"collection":[{"href":"https:\/\/myassetsconsolidation.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/myassetsconsolidation.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/myassetsconsolidation.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/myassetsconsolidation.com\/blog\/wp-json\/wp\/v2\/comments?post=423"}],"version-history":[{"count":0,"href":"https:\/\/myassetsconsolidation.com\/blog\/wp-json\/wp\/v2\/posts\/423\/revisions"}],"wp:attachment":[{"href":"https:\/\/myassetsconsolidation.com\/blog\/wp-json\/wp\/v2\/media?parent=423"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/myassetsconsolidation.com\/blog\/wp-json\/wp\/v2\/categories?post=423"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/myassetsconsolidation.com\/blog\/wp-json\/wp\/v2\/tags?post=423"},{"taxonomy":"yst_prominent_words","embeddable":true,"href":"https:\/\/myassetsconsolidation.com\/blog\/wp-json\/wp\/v2\/yst_prominent_words?post=423"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}