Your Financial Plan

I am 38 working, in a college, and my wife (33) is a school teacher. We have a six-month-old daughter. I live in Madurai and my parents live in our ancestral village. I have sold all my savings to close my business loan. My wife’s salary may increase by ₹10,000 in her new school job. Do let me know how to invest for future goals.




Commodity trading is not everybody’s cup of tea

Be careful in future while doing spices business. Although you have lost all your savings, you can still meet all your goals. To reach your targets, you need to invest monthly a sum of ₹ 32,900. Your wife’s earnings from the new school will be helpful.

Based on your current expenses, you need ₹1.64 crore at 58, at the time of retirement. The investment should earn 1 per cent over and above the inflation to support you till you turn 85. Your EPF accumulation will be ₹58.2 lakh if you continue to receive 8.5 per cent interest for your contribution. You will face a shortfall of ₹1.04 crore. To meet the target you need to invest monthly a sum of ₹12,200. Earmark the existing SIP investment as emergency fund.

As your daughter grows, expense may increase, it can be met from your future earnings.

The writer is an investment advisor and founder, Send your queries to

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