Does my portfolio require any change ?

POSTED BY amit kumar ON February 5, 2015 6:20 pm COMMENTS (3)

Hi Manish,

Myself 39yr/M ,salary thirty thousand / month (part time), wife 35 yr stipened thirty thousand/month (persuing degree course), daughter 3.5 yr.

I have following loan & investments.

Home loan SBI—15.6 lac,EMI-16500 rs,Tenure 15 yr,date of commencement (DOC)-AUG 2010.

I also have plot 800 sq m area which i bought at time of child birth ( cost 5.5 lac)—for daughter marriage. (loan free)
I have ankylosing spondylitis ( pre existing disease which i have mentioned in all insurances)
LIC Bima kiran plan 111-sum assured (SA)-3.0 lac,premium qtrly 716 rs,DOC-mar 1999.
LIC Jeevan sathi plan 89 (SA)-1.0 lac,premium yrly 7554 rs,DOC-dec 2006. .
SBI Life insurance shield plan A level cover (SA)-10.0 lac,premium yrly 4610 rs,DOC-may 2009.
Aegon religare I term plan (SA)-75.0 lac,premium yrly 10175 rs,DOC-mar 2012.
Critical illness plan from max bupa —10.0 lac ,will increase it upto 25 lac within six month.
Critical illness plan for wife from max bupa and aviva—10.0 lac + 15 Lac—Total 25 lac


Oriental health insurance Happy family floater silver plan Sum insured-3.5 lac,premium yrly 5600 rs,DOC-June 2009.
United india insurance super top up family floater plan Sum insured-7.0 lac,premium yrly 6517 rs,DOC-may 2012.


Monthly SIP 1000- HDFC Top 200- growth option-started in march 2012. No contingency fund at present. Monthly expenses 15000-20000 rs.

FD–2.0 lac in name of wife.
PPF– Me and my wife have opened PPF account this yr
WILL– Made 4 month back.

From july 15 i will be full timer and will get salary 80000 pm,however my monthly expenses will also increase upto 15000 rs ( 30 to 35 thousand).Wife salary will remain same for one more yr (ie for one yr our combined monthly salary will be around 1.1 lac )then she will get atleast 50000 pm.

3 replies on this article “Does my portfolio require any change ?”

  1. amit kumar says:

    Nikhil also tell me whether I should take term for wife also.I will also deposit some money for my daughter in sukanya yojna ,here intrest is 9.1%and it is announced in budget it is EEE.,regards

  2. amit kumar says:

    Thank nikhil,instead of putting money in MF can I clear off my home loan?. Regarding health insurance if u ignore number of companies my family has insurance of 10 lac only,rest is critical illness (I have also mentioned that I have pre existing disease which may later on lead to some critical illness,so it is necessary for me),regards

  3. Nikhil says:

    Few things I would suggest:
    1) Stop LIC Jeevan sathi plan 89 (SA)-1.0 lac,premium yrly 7554 rs,DOC-dec 2006 as you already have term insurance and its useless. Buy a term insurance from this money. HDFC, ICICI are good.
    2) Why have you taken 4 health insurances ? More companies more hassles. Just keep one or two (critical illness is also a type of health insurance)
    3) Your MF investment is VERY LOW (1k out of 60k salary). This needs to be at least 10-20k (depending upon your expenses).

    Congrats for the hefty increment. Invest all your extra money in mutual funds. Divide the extra 50k as:
    (i) 30k in a long term debt fund (markets are high, so keep equity exposure low now)
    (ii) 7k each in a large cap, small cap and a mid-cap fund.
    Find the best fund in above categories on
    (iii) After markets fall; divert 7k extra in the MFs mentioned in (ii) and keep investing 9k in (i)

    And whenever, you get more salary try to invest at least 70% of the salary hike.

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