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Coalscam:MadhuKodatellscourtManmohancannotbegivenbenefitofdoubt
BREAKINGNEWS
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Chauhansneedtostreamline
investments,increaseequityexposure

Share RahulSinghDikhit,SumitBirlaand
3,319,444otherslikethis.

ByRijuDave,ETBureau|31Aug,2015,08.23AMIST

PostaComment

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SPOTLIGHT

Thesavinghabitisengrainedsodeeplyin
Defence

Slideshows

Indianinvestorsthatmostdoitinstinctively
ETSPECIAL: Lovevisualaspectofnews?Enjoy
and,often,blindly.Theysaveasandwhen
thisexclusiveslideshowstreat!
thefundsareavailable,inanyinstrument
theylikeorissuggestedtothem,irrespectiveofthetermsoftheirgoalsortheamount
required.Asaresult,theinvestmentsandgoalsareoftenmismatched,andinsome

Rlysisgoingpaperless,here's
whatyoushouldexpect

cases,thefinancialmilestonesarenotachieved.Thisiswhereplanningcomesin.Itnot
onlyhelpsconnectwithrealitybydefiningtheexactamountrequiredinagiventime,but
alsothepaththatcantakeonethere.GujaratbasedKiranChauhanisundertakingthis
exerciseabitlateinlife,butgivenhisdisciplinedsavings,financialplannerPankaaj
Rafale'sIndiaflightinsight
Maaldewillbeabletochartoutacoursethatcanhelphimachievemostofhisgoals.

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Shouldyoustillinvestinfixeddeposits?

Chauhanis38yearsoldandworksinapublicsector
companyatBhuj,Madhapar,inGujarat.Hestaysinhisown
housewithwifeChetna,37,andtwochildrenaged13and
eight.WhileChetnaisahomemaker,KiranearnsRs50,000
amonth.Ofthisamount,Rs21,250goesinhousehold
expenses,Rs3,283asinsurancepremium,Rs3,000for
children'seducation,andRs13,847asEMIsforhomeand
carloans.Oftheremainingamount,ChauhaninvestsRs
8,000,andisleftwithasurplusofRs620amonth."Iwantto
knowhowandwhereIshouldinvesttomeetallmygoals,"

saysChauhan.Thegoalsincludebuildinganemergency
corpus,savingforthechildren'seducationandweddings,
andfortheirownretirement.

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Chauhan'sexistingportfoliocomprises14%realestate,
includingaselfoccupiedhouseandaplotofland58%in
debt,intheformofEPFandPPF,fixeddepositsanddebt
fundsandtheremaining28%inequityintheformofstocks
andmutualfunds.However,beforeMaaldesuggests
changesinChauhan'sportfolio,hewillassessthefamily's
insuranceneeds.

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Insuranceportfolio
Chauhancurrentlyhasfourtraditionalplansandtwoterm
plans,forwhichhepaysanannualpremiumofRs39,400.
Sincethetraditionalplansarelikelytoyieldreturnsthatcan
beatinflation,Chauhanisadvisedtoretaintheseasadebt
partofhisportfolio.Asforlifeinsurance,hewillrequirean

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additionalcoverofRs75lakh,forwhichheshouldbuyan
onlinetermplanfor25yearsatacostofRs15,000per
annum.Chetnadoesn'trequireanylifecoverbecausesheis
notemployed.
SinceChauhanisemployedingovernmentservice,hisand
hisfamily'smedicalinsuranceneedsaretakencareof.However,Maaldesuggestshe
takeanindependentfamilyfloatercoverworthRs10lakh,whichwillcosthimRs22,000
ayear.Heshouldalsopickupacriticalillnessplanandanaccidentdisabilitycoverworth
Rs25lakheach,andthesewillcomeforapremiumofRs12,000ayear.Thefresh
insuranceplanswillcostChauhananadditionalRs4,092aspremium,whichcanbe
sourcedfromtheinvestiblesurplus.

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Beforesuggestingacourseofaction,Maalde
suggeststhatChauhanrepayhisoutstanding
carloanofRs4lakhsoastoboosthis
investiblesurplus.Todoso,hecanusehis
fixeddepositpartially.Itwillhelphimsavethe
EMIofRs7,143andincreasehissurplusto
Rs15,763.
Afterthis,Chauhanshouldconsiderkeeping

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acontingencycorpusofRs2.28lakh,which
isequaltohissixmonths'expenses.Forthis,
hecanrelyonhiscashholdingofRs50,000
anddebtmutualfundofRs1.5lakh.Now,
Chauhancanconsiderplanningforhisother
goals,thefirstofwhichissavingforhis
children'seducation.
His
sonis
13
years
old
and,
forhis
higher

educationinfiveyears,Chauhanhasestimateda
needofRs14.5lakh.Toamassthissuminthe
shortperiodthatisavailabletoChauhan,hecan
dependonhisexistingresources.Heshould
assignhisremainingfixeddepositamountandplotoflandworthRs5lakhtomeetthis
goal.TheFDamountshouldbedepositedinabalancedfund,whiletheplotshouldbe
soldatleasttwoyearsbeforethegoal.
Asforhisdaughter'seducation,ChauhanwillneedRs21.5lakhin10years.Forthis,he
canutilisehisstockandmutualfundinvestments,whichwillyieldthedesiredsuminthe
specifiedperiod.Heshould,however,exitthestocksandinvestinanequitydiversified
fundtoensuresafetyofinvestment.
Next,Chauhanwantstosaveforhisdaughter'swedding,forwhichhewillneedRs37
lakhin17years.Toachievethisgoal,hewillneedtostartafreshinvestmentofRs4,000
inanequityfundandRs1,000inagoldfundthroughSIPs.Forhisson'swedding,
ChauhanwillneedRs12.6lakhin12years.Forthis,heshouldinvestRs4,000inan
equityfundviaanSIP,butsincehedoesn'thaveenoughsurplus,heshoulddoitafteran
increaseinsalary.
Finally,forretirement,thecouplewillrequireRs3.28crorein22years.Toachievethis
goal,ChauhanwillhavetoallocatehisPPFandEPFcorpuses,besideshistraditional
insuranceplansandpartialmutualfundinvestment.

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TheseinstrumentswillyieldasumofRs2.33croreinthegiventime,andforthebalance
amount,ChauhanshouldcontinuewithhisexistingSIPofRs6,500intwoequityfunds.
HeisalsoadvisedtostoptheadditionalVPFcontributionofRs4,500amonthandinvest
itinanELSSfund.

(FinancialplanbyPankaajMaalde,CertifiedFinancialPlanner)
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