I am 29F and earning 13LPA. I have been working for 4 years of which 3.5 years I had very low pay and close to 0 savings. I have been able to save 6L now.

My investments below:
* Elss funds - 2 (total 1.5L annually)
* Large cap mutual funds - 6 (total 40K sip per month) current portfolio of 4L
* FDs - 2 of 25K each
*Medical insurance - company provided

Can someone advice if this is a good investment plan for future? What can I do better? Do I need another Insurance? Where else to invest?

likehelpful
Posting as :
works at
You are currently posting as works at

1. Get rid of all your loans. If you have a housing loan then get rid of it upto 50%, post which you can continue to only pay EMI.
2. In case u have dependents buy a term life insurance of life cover upto Rs 1 Cr to 2Cr (yearly premium should be around 10 to 25K)
3. Generally people move from one company to another and the premium increases as u age, so better buy a medical insurance on top of ur company provided insurance now. Buy an insurance cover of Rs 10 lakh+
4. U need to build an Emergency fund of 1 year avg expenses (I.e., 12 * your Avg monthly expense). For Ex: if u have Rs 25000 expense per month then u need to have Rs 3,00,000 in non risk liquid investment avenues. Ultra short term debt mutual fund is preferred. In this once Rs 3 lakh is achieved you can set up a STP (Systematic Transfer Plan) to nifty index mutual fund to make it inflation proof.
5. Build a Retirement Fund: 10-20% of ur take home salary (post tax) can be invested in high risk equity mutual fund. You can chose ELSS funds + Equity index funds + top performing active equity mutual funds in the past 2 decades.
6. Rest of the money can be used to build a General Investment Fund: For GIF u can allocate 50% in debt and 50% in equity mutual funds. Whenever you have financial commitments like Marriage/ Children’s Education/ Car/ Housing/ Vacation etc, u can withdraw from your debt funds and subsequently withdraw from equity funds when the markets are at the peak.
7. U can allocate upto 5% of ur total corpus in Gold/Silver/ Crypto currency/ NFT etc.

likehelpful

get term insurance and contact us for risk profiling to be advised

Related Posts

a very specific question to all Canadians.

Current situation , i need to refund signing bonus which was paid along with 3 days of work at the company, taxes are withheld obviously
When you refund a signing bonus do you
1- refund ALL of it even taxes Withheld ?
2- refund only the amount that was deposited in your account
3- mix between 1 and 2 refund more than was deposited but less than the whole amount ( taxes should be refunded to me next year)

My contract says 2 and they want to do 3 Help

like

Anyone go coverage (on significant matters, incl London Market) transition to non-insurance in-house roles? If so, anything in particular help you along the way?

like

What’s the best travel rewards card you have and why?

like

I am sick of being a realtor! I've been trying for 5 years and have only sold 3 houses. Where I'm from (small Southern town) nobody is buying. Most people's families already own homes and it's just a bummer to see all these nice houses deteriorating over time.

like

Looking to sign up for a points card in the UK- does anyone have a recommendation? Anyone have the Virgin Atlantic Reward+ MasterCard?

Got married, bought a house, doing a major remodeling, planning to have a kid… safe to say that I am no longer on track with my FIRE journey 🥲

likefunny

Does anyone in here participate in a 529 for their kids? Is it true that you can deduct contributions from your state tax? If so? Is it 1:1? Trying to decide how much to contribute for maximum tax benefits. TIA!

like

Looking for a Manager or Sr Manager based in Charlotte or willing to travel there weekly (M-Th) for healthcare tech for large hospital system. Inbox me for details.

like

For Health Advances fish - is firm asking you to come in-person? If so, how often?

like

Signs I’m getting old: I tripped and fell, and somehow partially tore my ACL. Have to figure out if I want surgery, and how to tell the team—at the very least, I’ll need a ton of PT. I’m a first year associate and the only woman on all of my teams, so I’m freaking out about how this is going to reflect on me. I know I’m overthinking this, health comes first, etc…but I’m still so scared to tell people.

like

Over 12 years of experience in Healthcare vía administration, any ideas or suggestions to transitioning over to becoming a consultant?

like

Does KPMG have a mental health assistance hotline or service? I know other big 4 do (e.g. EY Assist), but can’t find this information at KPMG

like

I am two years out from my end of enlistment. Is there anything I should be doing now that you wish you had done at this point?

Side details: Family of 4, own a home, no consumer debt other than my home, I am a few classes shy of my MBA (still actively pursuing and will have it by the time I get out), I live near an area with a ton of corporate offices and headquarters.

Thanks for your time and feedback!

like

What are you doing for a retirement plan as an independent consultant? Solo 401K, SEP IRA, etc.? Any recommendations on where to open an account?

like

new to investing. have done some research - reading blogs and a few books on investing. I still have the question of do individuals that take the index fund route… do you all purchase the same funds for different accounts? Example, would you invest in VTSAX across a brokerage and roth account, or would you take a different approach for each account?

like

first time therapy question:

I’m signing forms now as a first time therapy-goer and it says that my therapist would *have* to make a diagnosis for insurance purposes. Does this mean they have to find something to say I have? Do they tell you and is it something that sticks with you?

I really just want to go to have a third party to talk to and gain more insight on myself. Just wanted to hear any opinions before signing. Thanks in advance 🙏

like

Can anyone recommend good investment options in Bank of America HSA account? I feel their funds are very limited compared to what I have seen from 401k and IRA. Anyone recommends your HSA account?

Advice requested: if the following 2 companies which one would you select to work for as a Sr Medical director: Vertex or AstraZeneca? And why?

like

I am an Employee Engagement and Relations Manager for a healthcare clinic, and I’m looking for ideas to boost morale/employee satisfaction on a budget. Does anyone have any ideas? Thanks!

like

More Posts

Hi Biggies, I do see the employee onboarding information is not enabled yet for the BNP Paribas. When could I expect it to be enabled? My DOJ is 7th March. Any ideas. Please provide me your thoughts. BNP Paribas Thanks in advance..

like

Does anyone in this bowl travel? Where do you eat? I find it exhausting to research nutrition facts all the time, and end up eating at the same 2-3 places every week. :(

like

So, how many days left before you start the holiday seasons? What are your biggest priorities for the new year?

Hi Fishes,

What will be my in hand salary
Yoe - 4

Post Photo
like

Haven’t gotten a haircut since March.Anyone else tried a new look during quarantine?

A reminder to those who are stressed about your billable hours that your value is more than your pure productivity. To those stressed about relationships, relationships are hard even for non-lawyers, but you are absolutely worthy of love. It is an important reminder for all of us that you are worthy and you are valuable. Keep fighting!

like

Does Capgemini have any blockchain projects? If yes, can we internally apply to those?

like

Larsen & Toubro Infotech Larsen & Toubro I am getting band 5.2 @sunlife. Is it a good company to go for? I have offers from TCS, Fiserv, Ln T. Please advice Tata Consultancy Accenture Deloitte Sun Life Financial Fiserv, Inc Larsen & Toubro Infotech Larsen & Toubro

like

I'm so stressed and nearing my limit 😪. My design partner for several years now, loves to pretend she's the CD and markup my work. Historically I've let it slide because she has good suggestions. But lately she outright changes my copy and tells me later. I'm easygoing and they're good suggestions so I try to ignore but its getting worse and borderline disrespectful. We work exclusively together so if I rock the boat its going to get even more uncomfortable. What would you do?

like

Moved to a new location in my house with a grow lamp. Had not flowered in 4 years...now we have 30+ blooms!!! Yay!

Post Photo
like

Hi! Can anyone here help with a referral to Liberty Mutual?

like

Any Additive Manufacturing Engineers here? What’s your salary and years of experience in AM? Currently I’ve been in AM for 4 years but I have 14 years of experience in design engineering in total. I’m at $95k

like

Educators of Color, where y'all at!?!? 😂

like

What are Rotational Shift timing of various projects in HCL Technologies

Drop TV show emojis and let us guess. 🤔💭

like

I’m new to Canada and currently working as a BA for the same company I worked for, in India. However, the workload is a lot after I moved here and the pay scale is comparatively low. I started job search and currently negotiating salary with an early stage startup for PM position. Problem is, they’re very keen on comparing my current salary and fixing my compensation rather than fixing it based on my performance in interviews and their budget. Is this normal practice here in Canada?

like

Additional Posts in Investing and Personal Finance

My ctc shows 10lpa + 20lac esops. But I'm not sure if I'll get this 20lac stocks for free or do i need to buy them by paying? Distribution is 4lac per year for 4 years. Pls explain.

like

Please help me

Post Photo
like

Considering the current fall in the equity and crypto market, which would be your go-to stocks / coins?

like

Hello, any ways for fake lta?

like

I'm 21, trying to build wealth. I need your help!

In the next 5 years, I plan on buying a house but there are so many investment options, I don't know what to choose.

I can invest upto 30,000 a month, please suggest!

The current state of market has me confused. I need an AR of 10-15% with Medium-High to Very High Risk profile.

Thanks!

likesmart

Is anyone here doing stock market trading as a professional? I'm looking someone in this field to get some help in this field. Please let me know.

like

From where do we get Form 26AS?

like

KEC International looks good to buy around 350 levels

like

Is it a wise decision to take loan just for tax saving?
If so what things i should take care of?

like

Catch BPCL Rs.58 dividend with record date of 16th September

like

Markets in red🔻 Good day to invest?
Current portfolio down by 7%
What is the ideal number of funds to invest in if monthly budget for SIP is 40K?

like

Conducting a 10 hours course on Equity markets from 24th Nov and Special discounted fees Rs.6000. Limited seats on first come basis. Covers Fundamental and Technical Analysis and Live Trades. DM for more details

like

Has anybody invested on affordable housing in Gurgaon, India? Or got any insight for a first time investor.

like

Hello Folks,

I am working in a mnc company, It's initial phase of my life I am 25 but I made a huge mistake that I started working in stock market when I was 22 and I lost the whole capital I earned in 3 years which I around 7 lac rupees and Found myself completely devasted and alone.
Now I am working on 13 LPA but I don't know how to accept the defeat and move on. I am completely stuck in the situation and Full with regrets also lost my whole self believe n confidence in life to do some. good.

like

hello, in elss is mirrae tax saver good or quant tax plan?

like

How many of you are involved in share trading/Derivatives Trading apart from your current job? And how are you managing it? What return are you generating?

like

How do I invest in Secure Gold Bonds? Any reliable procedural steps or blogs or videos available?

like

Hi,
I'm 25 Indian male and have savings of 10lakhs, please suggest what best I can do with the amount.

like

Looking for names of some effective financial/investment planners. Any suggestions? Plz give only the ones u hv worked with or experienced!

like

Any good mf with less tracking error to invest in us equity.

like

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
That was just a preview…
Sign Up to see all discussions
  • Discover what it’s like to work at companies from real professionals
  • Get candid advice from people in your field in a safe space
  • Chat and network with other professionals in your field
Sign up in seconds to unlock all discussions on Fishbowl.

Already a user?
Login here

Share

Embed this post

Copy and paste embed code on your site

Preview

Download the
Fishbowl app

See what’s happening in your industry
from the palm of your hand.

A phone with Fishbowl app

Send download link to your phone

OR

Scan your QR code to download
Fishbowl app on your mobile

By continuing you agree to Terms of Use and Privacy Policy.

Messaging rates may apply

Download app

Sign up for free to view this conversation on Fishbowl

By continuing you agree to Terms of Use and Privacy Policy

Already have an account? Log in

Sign up for free to continue using Fishbowl

By continuing you agree to Terms of Use(New) and Privacy Policy(New)
Messaging rates may apply

Already have an account? Log in

For account settings, visit Fishbowl on Desktop Browser or

General

Legal