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Q.

My daughter's carry home salary per month is rs sixty thousands, Since she is staying with me she has no household expenses except rs ten thousands. Please suggest how she should plan her savings and investments?

Asked by Subhash Bakshi, 29 Jun '08 12:38 pm
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Answers (9)

1.

Make four part of her savings. one part put it in banks saving account, second one for mutual funds and share market third one for gold and fourth one for her life insurance. this is called diversified investment. and this will increase her money for her future.
Answered by ajay, 29 Jun '08 12:41 pm

 
  
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2.

Open a PPF a/c and invest Rs 70,000 every financial year before 5th APRIL. If her PF is Rs 2500 atleast - 80C exemption is taken care of. Invest in mutual funds via SIP in diversified equity funds via SIP only. Go to www.valueresearchonline.com to learn more about mutual funds. Go for large cap funds which have a good rating ( 5* or 4*) on this website. Avoid NFOs, sector funds. You can go for HDFC TOP 200, Sundaram Select Focus, DSPBR TOP 100 & DWS ALPHA equity funds. Do not put too much money in insurance schemes. For insurance - stick to PURE TERM COVER ONLY. Take a mediclaim policy even if she is covered by group mediclaim in office. She will get tax exemption under 80D. But the best tax saving avenue for her is to go for a flat with a housing loan. She can get deduction upto 1.5 lakhs for interest paid on the loan. That is a tax saving of over Rs 45000 .
Answered by RANJAN KARNAD, 28 Jan '09 09:01 am

 
  
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3.

Do investment inDiversified Mutula funds on SIP basis and got higher return i... or purchase Silver in a monthly basis due to we espected that Silver go to 50,000 to 100000/- in four years...
Answered by manoj agrawal, 29 Jun '08 12:43 pm

 
  
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4.

No need of saving for a children because if they are good they will earn them self if they are spoiled than what ever u have save they will waste so moral of the story is donate the amount to charitable trust
Answered by raja, 29 Jun '08 12:42 pm

 
  
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5.

I shall say you consult professional investment counsellors about this. They can give you a wide array of choices from which you can freely choose as per your desire.
Answered by Kaushik@Rediff, 29 Jun '08 12:41 pm

 
  
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6.

Should invest in ulip plan can also invest in SIP also. as market is at lowest condition it is the best time for investment so ican say ''aap sirf invest karo jahan bhi achha lage."
Answered by priyank, 29 Jun '08 12:41 pm

 
  
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7.

Tell her to buy gold and save to buy a flat
Answered by Gaurav Malhotra, 29 Jun '08 12:40 pm

 
  
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8.

BETTER INVEST IN fdS OR gGOLD
Answered by gayathri, 29 Jun '08 12:40 pm

 
  
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9.

I would recommend her to pur her money in the stock market once it reaches 12,000 according to marc faber. here are my recommendations.wait fot the market to correct further.be greedy when others are fearful, be fearful when others are greedy.invest in the bear market and hold in the bull market.the stock market is a relocation center where money moves from the impatient to the patient. if we accept this, we need to pick stocks for a 10 year horizon. this is where only three stocks strike me which are franchises and which have an enduring brand value. ril, pantaloon retail and educomp solutions.avoid diversification, pick 3-5 stocks, 10 stocks and we end up with a zoo. i can recommend edelweiss, where people with trading mentality will buy and sell repeatedly, and brokerages will make a lot of money.
Answered by ravishankar, 29 Jun '08 12:39 pm

 
  
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