Anxiety about future- What to do next

[cedric48]

Myself 39 M with wife 33F and daughter 4F.

Our combined monthly earnings are :
3L in hand from salary,
16k rent from appartment,
30K epf monthly.

Investments so far are:
50 L (10 year old appartment)in tier1 city,
50 L (5 year old apartment) in tier 1 city,
27 L in mutual funds,
28 L in savings account,
45 L in EPFO account,
8 L in PPF account,
4 L in gold bond,
4 L in NPS,

Monthly expenses are:
30 k for groceries,
20 k for car,
30 K for adhoc,
20 K for kids education,
60 k for mutual funds,
25 k for ppf,
100 k lying in savings accounts.

As you see i dont know where to invest and left some money in savings accounts which is foolish. I also tried buying a good appartment but felt i dont need it as i already have 2 appartments. Dont want to invest further in mutual funds also as i feel i am already investing into it sufficiently around 60k monthly.

I need advice on 2 things
1. Am i investing enough for my age?
2. Where should I divert my investments like should i invest in real estate like others or somewhere else?

i only see myself working for another 10 years.

 

[medbeel]

@cedric48

1. About 30%to 40% in low cost index funds or ETF . Nifty Bees for retirement 10 to 20+ year horizon
2. About 15 to 20 Distributed across Midcap and low cap index funds
3. Sukanya Samridhi for daughter highest rate of guaranteed return with no tax on interest.
4. 10 to 15 % in FDs for emergency fund and sulprus cash.
5. Maximise tax saving via 80 c of 2 lakhs per year.

 

[cedric48]

@medbeel i am doing all the above except ssy. my worry is to invest further in mutual funds?
Already 60k going into Mutual funds…

I see lot of colleagues investing in costly appartments . Not sure if i should go in that direction

 

[jesusiswithus]

@cedric48 Buying apartments is not investing IMHO. One should go for plots instead.

 

[cedric48]

@jesusiswithus Yes thats exactly my thought on buying another appartment..
But i am very scared to buy a plot in a city i dont have anyone to guide me…

 

[mrssmith]

@jesusiswithus Plots cost crores in big cities . Salaried people would not typically afford them.

 

[jesusiswithus]

@mrssmith Apartments are no less.

 

[mrssmith]

@jesusiswithus Yes true

 

[bnclement]

@cedric48 Buy commercial land instead of apartment, easy to maintain,pays better rent , land price increase more there don't buy in main city buy in outside with tym that place will be in city too , remember land is limited , apartments r not ... N try to enjoy some life bhaut Paisa h yarr tere pass dekhte hi dekhte tu 45 ka ho jaiga or fir jis retirement ki sari umar socha h wo bhi aa jaigi bas body weak ho jaigi .. sorry agar bura lage but ek bacha or krle or ek pet lia apne aap tere paise invest ho jaige ...

 

[bvbchick1303]

@cedric48 Dear sir,
You have sufficient investment (in securities and real estate) and savings in cash plus your combined income is also great. Dont worry.

I am not earning as much as you and I can say that huge percentage of people are surving with far lesser income and resources and please dont get anxious.

Take care sir.

 

[cedric48]

@bvbchick1303 thanks you

 

[mrdean36]

@cedric48 Move the 28L from savings account to MF.

 

[cedric48]

@mrdean36 Is it not risky to put all in mutual funds?

 

[mrdean36]

@cedric48 So, you are saying savings account has 0 risk, even from inflation?

 

[cedric48]

@mrdean36 I dont know where to invest this extra income lying in savings account..
Thats what i feel anxiety about the fact that i am unable to take any decision about investing it….

 

[mrdean36]

@cedric48 Its very simple, you have to do goal based investment. Some of your goals are so far away it mitigates the risk as long as you are diversified

 

[mrdean36]

For example, I decided I will buy a vw polo when nifty reaches 21500. Now it looks like I will be able to afford a superb/passat when nifty reaches 21500

 

[grantdenning]

@cedric48 Adopt me

 

[cedric48]

@grantdenning hehe

 

[mypathmyquest]

@cedric48 Your in hand salary is great. I suggest you to contact a fee-only SEBI-registered advisor. They're the best if you want to assess your current financial health plus future plan as per your goals.