Your Financial plan

I am a 35-year-old doctor by profession, running my own clinic in Tirunelveli. My wife works for a private company. We have a son and a daughter . My parents live in our ancestral city but are financially dependent on me. I tried to expand my practice a couple of times but lost money and have little by way of savings. How do I meet my goals?

Senthil Kumar

It is surprising that despite being a doctor you don’t have health insurance. Buy term insurance for ₹1.25 crore and a floater health insurance plan for ₹5 lakh.

Given your current financials, to meet all the goals, invest ₹42,840 per month against your investible surplus of ₹25,000.

The positive aspect is that since you plan to have your practice till you turn 70, the retirement goal can be met comfortably.

With several financial products available in the market, you can start investing in regulated investments such as mutual funds. Once you fulfil your chit fund commitments in the next few months, please follow our recommendations.

Follow asset allocation of 60:35:5 in equity mutual fund, debt and gold. Since you are investing in Sukanya Samriddhi Scheme, it takes care of your debt portion. For the rest of ₹20,750, invest ₹6,200 in large-cap funds, ₹8,300 in multi-cap funds and ₹6,250 in mid- and small-cap funds.

The writer is a SEBI-registered investment advisor and founder of

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