Have a Look Am I Right?????

praveen taneja

Well-Known Member
#1
Friends I want you all to have a look on what I am doing is it sensible or not.
As most of you people know last year I sold most of my portfolio and bought a plot around Rs 6lac and now my nieghbour bought that from me around 40lac Rs.:clap:
Now First of all I have to devide that 40lac in a way that it can give me max return so first of all I took back my 6lac from that and took 700Relcap around 660Rs
out of 34lac I put 4lac to gods share as I share 10% of my profit always with god to thnk him for helping this ignorant person
Now main question arise that I want to deposit in Post Office rs 30lac in MIS so I would get around Rs 24k pm As I already have investments in ULIPS and insurance etc so I am thinking to make SIP of this 24k return in 12k in equities and 12k in gold ETF in my wife and kids names is this sensible:confused:
Or anyone have any good suggestion would be highly appreciated:thumb:
Friends I am investment consultant too so pls newbies are requested to pls read and advice IF they think they know something solid then only:clap:
As this week Iam going on a Religious trip and enjoying spiritual mood and not trading so can easily share and take views from you all Thnx in advance
 

rkkarnani

Well-Known Member
#2
Friends I want you all to have a look on what I am doing is it sensible or not.
As most of you people know last year I sold most of my portfolio and bought a plot around Rs 6lac and now my nieghbour bought that from me around 40lac Rs.:clap:
Now First of all I have to devide that 40lac in a way that it can give me max return so first of all I took back my 6lac from that and took 700Relcap around 660Rs
out of 34lac I put 4lac to gods share as I share 10% of my profit always with god to thnk him for helping this ignorant person
Now main question arise that I want to deposit in Post Office rs 30lac in MIS so I would get around Rs 24k pm As I already have investments in ULIPS and insurance etc so I am thinking to make SIP of this 24k return in 12k in equities and 12k in gold ETF in my wife and kids names is this sensible:confused:
Or anyone have any good suggestion would be highly appreciated:thumb:
Friends I am investment consultant too so pls newbies are requested to pls read and advice IF they think they know something solid then only:clap:
As this week Iam going on a Religious trip and enjoying spiritual mood and not trading so can easily share and take views from you all Thnx in advance
If you dont have one BUY a Term Insurance policy now. have a look at LIC products like Amulya Jeevan. Its pure risk coverage play and as per my view the best Risk coverage product. A 28 year male taking a rick coverage of Rs.25.00 lakhs for about 35 years has to pay ~Rs.125500/- one time only. Best thing to do for your dependents. My figure maybe wrong but youcan check the details on LIC site.
All the best.
 
#3
Friends I want you all to have a look on what I am doing is it sensible or not.
As most of you people know last year I sold most of my portfolio and bought a plot around Rs 6lac and now my nieghbour bought that from me around 40lac Rs.
Now First of all I have to devide that 40lac in a way that it can give me max return so first of all I took back my 6lac from that and took 700Relcap around 660Rs
out of 34lac I put 4lac to gods share as I share 10% of my profit always with god to thnk him for helping this ignorant person
Now main question arise that I want to deposit in Post Office rs 30lac in MIS so I would get around Rs 24k pm As I already have investments in ULIPS and insurance etc so I am thinking to make SIP of this 24k return in 12k in equities and 12k in gold ETF in my wife and kids names is this sensible
Or anyone have any good suggestion would be highly appreciated
Friends I am investment consultant too so pls newbies are requested to pls read and advice IF they think they know something solid then only
As this week Iam going on a Religious trip and enjoying spiritual mood and not trading so can easily share and take views from you all Thnx in advance
30lac in MIS...hmmm...You will need to open MIS in 7 diff names than...I guess U must be knowing this....Single name cann't have more than 4.5lac and with joint holder limit is 9 lac. Also, you will get 20k/mnth not 24K ( I guess nothing has changed in last couple of weeks...15K will give 100/mnth). Also this means 36k/year/person which is taxable.
You invested in ULIPS :confused: Must be single premium one...but still :confused::confused:
 

praveen taneja

Well-Known Member
#4
If you dont have one BUY a Term Insurance policy now. have a look at LIC products like Amulya Jeevan. Its pure risk coverage play and as per my view the best Risk coverage product. A 28 year male taking a rick coverage of Rs.25.00 lakhs for about 35 years has to pay ~Rs.125500/- one time only. Best thing to do for your dependents. My figure maybe wrong but youcan check the details on LIC site.
All the best.
Bro We all are covered with insurance of 5lac each me n my wife in Jeewan Anand and kids in child plan of Bajaj Allianz with rider of WOP FIB DAB and CI:clap: also we are covered in Floater mediclaim policy of 5lac from Bajaj allianz by the grace of god:clap:
 

praveen taneja

Well-Known Member
#5
30lac in MIS...hmmm...You will need to open MIS in 7 diff names than...I guess U must be knowing this....Single name cann't have more than 4.5lac and with joint holder limit is 9 lac. Also, you will get 20k/mnth not 24K ( I guess nothing has changed in last couple of weeks...15K will give 100/mnth). Also this means 36k/year/person which is taxable.
You invested in ULIPS :confused: Must be single premium one...but still
Thnx bro I was thinking its 5lac a person :)
What was in my mind was that I would take in take in single names and then in joint name Is it possible?????
I know return from it is taxable thats why want to make SIP in MF and Gold ETF so the loss of tax would be covered by higher return in MF SIP:thumb:
In ULIPs I never suggest even my clients single premiu then how could I??
I am paying instalment by monthly ECS and that too of 27thth or every mnth to get cheaper NAV everymnth as at end of month mostly mkt correct a bit either for Rollover or NAV adjustments by MF and FIIs:clap:
Thnk you bro for giving me your valuable time
 
#6
Thnx bro I was thinking its 5lac a person :)
What was in my mind was that I would take in take in single names and then in joint name Is it possible?????
Last I checked it was 4.5l per person. Joint and single name combined. More than that is not allowed. Prev. it was easy to overshoot the limit but with today's computerisation, its risky.
I know return from it is taxable thats why want to make SIP in MF and Gold ETF so the loss of tax would be covered by higher return in MF SIP:thumb:

In ULIPs I never suggest even my clients single premiu then how could I??
I am paying instalment by monthly ECS and that too of 27thth or every mnth to get cheaper NAV everymnth as at end of month mostly mkt correct a bit either for Rollover or NAV adjustments by MF and FIIs:clap:
Thnk you bro for giving me your valuable time
I never advise anybody for ULIP. May be I am missing some thing here. Can you explain the rationale of using ULIP v/s (term insurance+ MF(+May be MIS)) combo. Even if you go full hog, the charges of PAC etc are too much. Also, the insurance cover is negligible. May be I am missing some crutial ascpect of ULIP's. Can you pls explain.
 

praveen taneja

Well-Known Member
#7
Last I checked it was 4.5l per person. Joint and single name combined. More than that is not allowed. Prev. it was easy to overshoot the limit but with today's computerisation, its risky.


I never advise anybody for ULIP. May be I am missing some thing here. Can you explain the rationale of using ULIP v/s (term insurance+ MF(+May be MIS)) combo. Even if you go full hog, the charges of PAC etc are too much. Also, the insurance cover is negligible. May be I am missing some crutial ascpect of ULIP's. Can you pls explain.
Bro purpose of taking child plan for kids in ULIP is remain in mkt for longer term use and get SIP benefit and all Rider benefit which are as follows
CI > that all know critical illness cover for major deceases as a father I want all round cover for my kids
WOP >waiver of premium in case of my death my kids dont have to pay premium for remaining period and policy remain intact
FIB > In case of my death my kids would get 1% of sum assured as in this case Rs 5k per month as an agent and human being I saw people odnt care for left behind persons after death of earner or male member of family:mad:
In tern Insurance we cant get all these riders and the benefit of stock mkt
with instalment in mnthly ECS we can have return as good as we want ya there is small difference in charges but that too in starting 5 years and on later stage its approx same:thumb:
 
#8
Bro purpose of taking child plan for kids in ULIP is remain in mkt for longer term use and get SIP benefit and all Rider benefit which are as follows
CI > that all know critical illness cover for major deceases as a father I want all round cover for my kids
WOP >waiver of premium in case of my death my kids dont have to pay premium for remaining period and policy remain intact
FIB > In case of my death my kids would get 1% of sum assured as in this case Rs 5k per month as an agent and human being I saw people odnt care for left behind persons after death of earner or male member of family:mad:
In tern Insurance we cant get all these riders and the benefit of stock mkt
with instalment in mnthly ECS we can have return as good as we want ya there is small difference in charges but that too in starting 5 years and on later stage its approx same:thumb:
hmmm.....You said 5k/month. It means your ULIP have insurance cover of 5 lac. Frankly, I don't think 5lac can get you very far today. 10years down the line it will be more like 2.25l in todays term. I think its insufficient. Both as life cove and for future child needs.
what if I take term with these riders....It will be very cheap. A 35 year male can get 25lac cover for 25 year with around 15k/year. Rest of money he can invest in any MF (He can go for 1.95lc MIS which will take care of his yearly prem.)
If you are paying around 40kyearly as premium for your ULIP than your are left with 25kevery year for MF. With 10% return every year from MF, you will get around 4.75lac. Pls correct me if I am wrong, but I think illustration given by insurance comp with 10% return will be around 6-6.5lac as final accumalated amount for 10 year plan. What you get here extra is the big life cover in case of any eventuality.
How does this sound? Any thoughts.
My POV is that if you are there, you will do everything in humanly possible way to fulfill what ever you child wants. But in case you are not there than life cover should be big enough that interest income help your family sustain there life style. It might not cover all the expense but most of it.
Well this all applies to ppl like me, who are only bread earner of family and the small-to-moderate saving\investment.
 

praveen taneja

Well-Known Member
#9
Bro Ram ji ki kripa se this MIS is seperate frpm which I am paying my logi cis yes I can get in 15k insurance cover of 25lac but in ULIP I am getting it free na as its return is givin me profit to pay insurance premium
In term I would get only If i die but here in both cases am I right???
 

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