Express Clinic

Name: Javendra Singh, Resides in: noida, Profession: Administrative Manager

Net annual income(Rs 6 lakh)

Status & goals

Javendra Singh (42) works with an IT company. He stays with his wife shruti (40) and daughter nitika (8) in Noida. he has managed his finances well and does not have any liabilities. Although he has been investing in various options to meet his objectives, the growing concern on the rising cost of education and longevity risk has prompted him to seek a financial planning approach

Needed

A financial plan which can help create a corpus for his Nitika's education and his retirement

Monthly Income (Post Tax)

Rs 50,000

Monthly Expenses

R 40,000

Net monthly surplus

Rs 10,000

Goals in order of priority

Daughter's Education

(2020) (Inflation 10%)

Current Value

R 10 lakh

Future value

R 21 lakh

Daughter's Higher Education

(2024) (Inflation 10%)

Current value

R 12 lakh

Future Value

R 38 lakh

Daughter's Marriage

(2027, Inflation 7%)

Current Value

R 15 lakh

Future Value

R 41 lakh

Retirement Planning

(Pre-retirement Inflation at 7%, life expectancy 83 years)

Present monthly expenses

R 25,000

Future value

R 84,500

Corpus required

R 1.91 crore

Current Investments:

PPF : Rs 3.5 lakh

EPF : Rs 5.9 lakh

Savings account : Rs 2.5 lakh

Equity MFs : R 3 lakh

Gold : Rs 2.5 lakh

Insurance surrender value: Rs 5 lakh

Findings

Emergency fund: Javendra maintains

Rs 2.5 lakh in his savings account at all times.

Health Insurance:An standalone family floater policy of Rs 2.5 lakh sum assured.

Life Insurance:Covered for Rs 7.5 lakh through three ULIP policies in which he has stopped contributing further premiums after paying for a few years.

Liabilities: Nil

Recommendations

Emergency Fund:Since Javendra is maintaining 6 months' expenses in his savings account, no enhancement is recommended.

... contd.

Page : 123 Single Page Format

• Tags:
• Javendra Singh
• financial planning
• Retirement Planning

Ads by Google

ALSO READ

BSE rejigs mid-cap, small-cap indices

Go Goa Gone movie review

Review: Gippi is a mini version of Student Of The Year

Positive IIP data lifts BSE Sensex above 20k-level, NSE Nifty to 2013 high

Please read our terms of use before posting comments

TERMS OF USE: The views, opinions and comments posted are your, and are not endorsed by this website. You shall be solely responsible for the comment posted here. The website reserves the right to delete, reject, or otherwise remove any views, opinions and comments posted or part thereof. You shall ensure that the comment is not inflammatory, abusive, derogatory, defamatory &/or obscene, or contain pornographic matter and/or does not constitute hate mail, or violate privacy of any person (s) or breach confidentiality or otherwise is illegal, immoral or contrary to public policy. Nor should it contain anything infringing copyright &/or intellectual property rights of any person(s).

comments powered by Disqus