{"id":545,"date":"2016-09-11T11:02:38","date_gmt":"2016-09-11T11:02:38","guid":{"rendered":"http:\/\/www.myassetsconsolidation.com\/investment-advisory\/?p=545"},"modified":"2016-09-11T11:02:38","modified_gmt":"2016-09-11T11:02:38","slug":"taking-loan-for-overseas-education-plan-back-up","status":"publish","type":"post","link":"https:\/\/myassetsconsolidation.com\/blog\/taking-loan-for-overseas-education-plan-back-up\/","title":{"rendered":"Taking loan for overseas education plan back up."},"content":{"rendered":"<p>&nbsp;<\/p>\n<p><a href=\"http:\/\/myassetsconsolidation.com\/investment-advisory\/wp-content\/uploads\/2016\/09\/Sept-111.jpg\"><img loading=\"lazy\" class=\"alignnone size-full wp-image-547\" alt=\"sept-11\" src=\"http:\/\/myassetsconsolidation.com\/investment-advisory\/wp-content\/uploads\/2016\/09\/Sept-111.jpg\" width=\"322\" height=\"334\" \/><\/a><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p><b>I am 48. I work in a private sector company and my wife works as a lecturer. My son, 20, is completing his engineering and my daughter is studying plus one. My concern is with my ?35-lakh loan. Is it good to send my son for overseas education? My EPF balance is ?18 lakh and I contribute ?4,350. I have made provisions for my daughter\u2019s marriage.<\/b><\/p>\n<p><i>Raja<\/i><\/p>\n<p>Since the global economy is on shaky ground, sending your children abroad for studies puts the family finance at risk. But since you have plots, you can take a risk, though it will impact your early retirement.<\/p>\n<p><b>Daughter\u2019s education:<\/b>\u00a0Earmark your insurance maturity proceeds of ?7.85 lakh. To meet the third and fourth-year fees, invest ?15,400. It should earn10 per cent return to meet the target.<\/p>\n<p><b>Retirement:<\/b>\u00a0Your current expense of ?20,000 at 55 will be ?32,100 if inflated at 7 per cent . So, a retirement fund of ?1 crore is needed and it should earn 1 per cent return over and above the prevailing inflation to sustain you till you reach 85.<\/p>\n<p>Your EPF will account for ?48.15 lakh if it earns 8.75 per cent till your retirement. The plot with present value of ?30 lakh, if its value grows at 7 per cent, will account for ?48 lakh in 2023. Your gratuity and other retirement benefits will bridge the gap. The EPF pension will be a cushion.<\/p>\n<p><b>House construction<\/b>: Sell the plot worth ?25 lakh and build a house in your hometown. The capital gain arising out of sale will get adjusted against the construction cost. Four years prior to retirement, buy a health cover for ?5 lakh for any pre-existing ailments too. This will protect your retirement corpus.<\/p>\n<p><i>The writer is a SEBI registered investment advisor and founder,<\/i><\/p>\n<p><i>myassetsconsolidation.com<\/i><\/p>\n<p><i>Send your queries to blinefp@gmail.com<\/i><\/p>\n<div>(This article was published on September 11, 2016)<\/div>\n","protected":false},"excerpt":{"rendered":"<p>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; I am 48. I work in a private sector company and my wife works<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\/545"}],"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=545"}],"version-history":[{"count":0,"href":"https:\/\/myassetsconsolidation.com\/blog\/wp-json\/wp\/v2\/posts\/545\/revisions"}],"wp:attachment":[{"href":"https:\/\/myassetsconsolidation.com\/blog\/wp-json\/wp\/v2\/media?parent=545"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/myassetsconsolidation.com\/blog\/wp-json\/wp\/v2\/categories?post=545"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/myassetsconsolidation.com\/blog\/wp-json\/wp\/v2\/tags?post=545"},{"taxonomy":"yst_prominent_words","embeddable":true,"href":"https:\/\/myassetsconsolidation.com\/blog\/wp-json\/wp\/v2\/yst_prominent_words?post=545"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}