{"id":540,"date":"2016-08-29T10:52:54","date_gmt":"2016-08-29T10:52:54","guid":{"rendered":"http:\/\/www.myassetsconsolidation.com\/investment-advisory\/?p=540"},"modified":"2016-08-29T10:52:54","modified_gmt":"2016-08-29T10:52:54","slug":"be-reasonable-with-financial-goal-target","status":"publish","type":"post","link":"https:\/\/myassetsconsolidation.com\/blog\/be-reasonable-with-financial-goal-target\/","title":{"rendered":"Be reasonable with financial goal target."},"content":{"rendered":"<p><a href=\"http:\/\/myassetsconsolidation.com\/investment-advisory\/wp-content\/uploads\/2016\/09\/August-29.jpg\"><img loading=\"lazy\" class=\"alignnone size-full wp-image-541\" alt=\"august-29\" src=\"http:\/\/myassetsconsolidation.com\/investment-advisory\/wp-content\/uploads\/2016\/09\/August-29.jpg\" width=\"322\" height=\"334\" \/><\/a><\/p>\n<p>&nbsp;<\/p>\n<p><b>I am 40, working in a PSU. My wife is a homemaker. My elder son is in class 6 and the younger one in class 1. I am expecting salary hikes from 2017. I wish to enrol my son into IIT, for which I wish to spend for coaching. Do suggest investment options to reach the goals with my new surplus.<\/b><\/p>\n<p><i>Mahesh<\/i><\/p>\n<p>&nbsp;<\/p>\n<p>A four-year integrated IIT coaching programme costs ?8 lakh. The total expense, including the school fees, will not exceed ?12 lakh for 4 years from class nine.<\/p>\n<p><b>Education<\/b>: Assume that ?5 lakh will be the IIT coaching fee for the first two years for your elder son. To reach the target in 30 months, invest ?15,000 a month in mutual monthly income plan which would earn a return of 8.5 per centto reach the target.<\/p>\n<p>To meet the ?7 lakh expense for the next two years, invest ?11,400 a month for the next 48 months which should earn a 12 per cent return. For his college admission earmark the insurance proceeds of ?5.3 lakh.<\/p>\n<p><b>Younger son\u2019s education<\/b>: Invest ?7,400 a month to meet his college expense of ?20 lakh. Earmark the current mutual fund SIP and increase it by ?4,900.<\/p>\n<p><b>Retirement:<\/b>\u00a0The present monthly expenses of ?25,000 will be ?97,000 after 20 years at a 7 per cent average inflation. So you will need to have a retirement corpus of ?2.55 crore. The EPF contribution will account for ?1.11 crore. Invest ?14,500 a month to meet the shortfall of ?1.44 crore.<\/p>\n<div data-attr=\"not-done\"><\/div>\n<p>The present current balance in EPF can be utilised for any escalation in second son\u2019s education cost or to meet your post-retirement vocation plans. Follow an asset allocation of 60:30:10, respectively, in equity, debt and gold for plans regarding the younger son and retirement goals.<\/p>\n<p><i>The writer is a SEBI registered investment advisor and founder myassetsconsolidation.com.<\/i><\/p>\n<p><i>Send your queries to blinefp@gmail.com)<\/i><\/p>\n<div>(This article was published on August 29, 2016)<\/div>\n<div><a href=\"http:\/\/www.thehindubusinessline.com\/portfolio\/people\/your-financial-plan\/article9045961.ece#comments\"><br \/>\n<\/a>&nbsp;<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>&nbsp; I am 40, working in a PSU. My wife is a homemaker. My elder son is in class 6<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\/540"}],"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=540"}],"version-history":[{"count":0,"href":"https:\/\/myassetsconsolidation.com\/blog\/wp-json\/wp\/v2\/posts\/540\/revisions"}],"wp:attachment":[{"href":"https:\/\/myassetsconsolidation.com\/blog\/wp-json\/wp\/v2\/media?parent=540"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/myassetsconsolidation.com\/blog\/wp-json\/wp\/v2\/categories?post=540"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/myassetsconsolidation.com\/blog\/wp-json\/wp\/v2\/tags?post=540"},{"taxonomy":"yst_prominent_words","embeddable":true,"href":"https:\/\/myassetsconsolidation.com\/blog\/wp-json\/wp\/v2\/yst_prominent_words?post=540"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}