u/Impossible-Apple5880

Need some serious insight.

I am 41, working in the core engineering sector. Presently i earn around 1.9LPM in hand. I had no proper financial planning till date, which have screwed up my financials pretty badly. Most of my investments till date were eaten up in buying a flat (1.2 cr) last year. I am married and have two kids.

So basically, although I have been investing for pretty long, not planning it and random impulsive spends have eroded away my investments. I wanna start afresh now.

I have two goals:

1. Children education (investment horizon 10 years)
2. Retirement corpus (investment horizon 19 years)

I have selected the funds and investments and shown in the picture to meet the above two goals.

Some more insights:

- I have a pretty stable job, and downsizing is very rare in my industry. So don’t really need an emergency buffer right now. I know this is another bad planning, but as of now I want to concentrate on the above two goals. Yearly increment will be in the range of 10-15%.

- Have planned to step up SIP in all the above mutual funds (except NASDAQ) by 10% each year. Any bonus earned from job (expected to be 5-6lakh per year) will go into lump-sum investment.

- once the kids education milestone is completed, i will divert the relevant investments towards retirement corpus.

- Have a home loan with EMI of 36K at 7.15% now. Though loan tenure left is 28 years (yes, 10 years beyond my retirement age), due to low ROI, i am not planning to prepay the loan right now, though would want to close it off before i turn 60.

- Current corpus is pretty low due to bad / no planning. 28L in EPF, 4 L in mutual funds and 7 L in NPS, 17L in crypto (yes crypto 😛).

- I don’t have any specific goals in foreseeable future, other than the ones I’m saving up for.

- Will inherit a substantially valued ancestral property (4-5 cr present value in Kolkata) maybe 15-20 years down the line, but don’t wanna count it in planning now.

Already have a term insurance of 1.5 cr cover. Wife (working) also have term insurance with same cover. Health insurance is covered by company (9L family floater).

My questions:

1. Is it possible to accumulate 80-90 lakh from the kids education corpus in 10 years down the line?

2. Realistically how much can i expect from the retirement corpus 19 years from now?

Any suggestion for modification in portfolio is welcome with reasons.

Saw this in my para after god knows how many years.

Make no mistake, I’m in no way a leftist supporter. But seeing this felt good. They at least seem to have a place to breathe.