I am from India.
I have a small hotel, which generates around 70k/average per month. Some months high, some months low. 70k after deducting business expenses.
From this 70k, I have a personal home expense of around 50k to 60k. I have 9 members in my family, and this is the only business I have.
I am planning to sell my hotel, because I am tired of this business and not happy with it. Also some disputes between brothers. So we both mutually agree to sell it. I can get around 1cr if i sell it.
If I invest 1cr, in mutual funds, I am expecting around 15% per annum. Based on my past 3-4 years of experience, which includes the corona stock market crash also.
If I invest 1cr, and get 15% per annum, then
15lacs - income per year from mutual funds
7.5lacs - less personal expense (60k*12 months)
7.5 lacs - net saving after expense WITHOUT DEDUCTING TAXES, which I will invest in mutual fund again
Some point to be noted
1. I have 9 members in my family including me, which includes, 2 brothers (including me), 2 wives of brother, 3 daughters, father, and mother.
2. 3 daughters are of age 3,7,15 years - with education expense included in 60k personal expense.
3. Personal expense of 60k includes school fees also and day-to-day compulsory expenses. It does not include vacation expense or other voluntarily or unexpected expenses.
4. I have my own house and vehicle. No loans.
5. Some savings of around 15lacs I have in gold and bank balance and stock market.
6. My age is 39 years. I don't have the capability or mindset to run other businesses as I am mentally tired and stressed. If you still suggest better alternative, I will try to do it.
My doubts and questions is
1. From 15lacs, what amount of income tax do I have to pay so that I get an idea of my saving
2. If I invest my savings after-tax deduction, will I be able to beat inflation in coming years?
3. Should I sell my hotel and divert to mutual funds or continue with the hotel business?
Please guide, what should I do.
I have a small hotel, which generates around 70k/average per month. Some months high, some months low. 70k after deducting business expenses.
From this 70k, I have a personal home expense of around 50k to 60k. I have 9 members in my family, and this is the only business I have.
I am planning to sell my hotel, because I am tired of this business and not happy with it. Also some disputes between brothers. So we both mutually agree to sell it. I can get around 1cr if i sell it.
If I invest 1cr, in mutual funds, I am expecting around 15% per annum. Based on my past 3-4 years of experience, which includes the corona stock market crash also.
If I invest 1cr, and get 15% per annum, then
15lacs - income per year from mutual funds
7.5lacs - less personal expense (60k*12 months)
7.5 lacs - net saving after expense WITHOUT DEDUCTING TAXES, which I will invest in mutual fund again
Some point to be noted
1. I have 9 members in my family including me, which includes, 2 brothers (including me), 2 wives of brother, 3 daughters, father, and mother.
2. 3 daughters are of age 3,7,15 years - with education expense included in 60k personal expense.
3. Personal expense of 60k includes school fees also and day-to-day compulsory expenses. It does not include vacation expense or other voluntarily or unexpected expenses.
4. I have my own house and vehicle. No loans.
5. Some savings of around 15lacs I have in gold and bank balance and stock market.
6. My age is 39 years. I don't have the capability or mindset to run other businesses as I am mentally tired and stressed. If you still suggest better alternative, I will try to do it.
My doubts and questions is
1. From 15lacs, what amount of income tax do I have to pay so that I get an idea of my saving
2. If I invest my savings after-tax deduction, will I be able to beat inflation in coming years?
3. Should I sell my hotel and divert to mutual funds or continue with the hotel business?
Please guide, what should I do.