r/IndianPersonalFinance

So I have personal loan from multiple sources.

ICICI loan against cc - 3L at 11% Axis PL - 2.5L at 14.5% Liquiloans- 1.2L at 13% flat And some credit card emis around 1L in total.

The emis being deducted from multiple bank accounts as well

The loans were mainly taken for some hospital stuff and marriage.

I was thinking of taking one more loan of 10L. This way I could clear past loans, only 1 emi from one bank account + some cash in hand that I would be requiring in coming months.

The issue is, my employer doesn’t have financial records. We don’t have PF yet, the organisation is not listed in banks.

I earn around 60K a months, emis are around 35K, other expenses like rent, groceries, etc goest up to 25K.

My salary is only source of income we have currently. And I really need to sort out my finances by end of this year.

Please let me know your thoughts and suggestions.

TIA

Friends, my wife has a home loan of Rs 27 lakhs taken at the time of her marriage to build a new house. Her salary is Rs 75,000, out of which Rs 32,000 per month is being deducted as home loan & loan is for 30 years. When the loan is paid off, she will be out of Rs 50 lakhs. I work in Gulf with a salary of Rs 60,000 & she is working in central government job at Delhi. Now, we cameup with an child's hospital case & bill paid about Rs 5 lakhs. Now we are in a finacial tight,. That'when I thought that, my wife's family had given her 18-pawan( 144 grams gold) gold at the time of her marriage. Is it better to sell it & pay off at least half of her home loan with the money she gets from gold cash ,Please help friends😢

I wish to invest around 3 Lakh in these ETFs.. Please provide your suggestion. I have sufficient funds for emergency so I am not investing in any debt funds. Please suggest how much money I should allocation in each fund. Please give your suggestions.

1. Edelweiss Nifty LargeMidcap 250 ETF
2. ICICI Prudential Nifty Midcap 150 ETF
3. HDFC Small cap 250
4. Mirae Asset Nifty 500 Multicap ETF
5. Nifty 500
6. Nifty 100
7. Nifty 50
8. Kotak nifty alpha 50 ETF
9. Motilal oswal SP BSE Enhanced Value ETF

There’s a regular post every day by someone in their early 30s panicking about whether their investments are enough, if they are under-diversified or over-diversified, or whether they’ll hit their FIRE at X number in 30 years. The anxiety is real, but I’m not sure if it’s useful to create fear around retirement.

Our parents’ generation didn’t run retirement calculators. And now many of them are travelling, pursuing hobbies, and spending time with grandkids. This may not be many of them, but those who mainly stayed consistent in their journey and mainly didn’t do anything… stupid. 

I think the boom in the content ecosystem in recent years has made retirement feel like an urgent math problem that needs to be solved, but there’s no right answer. 

But the basics in planning your finances never changed over the course of generations - getting your insurance right, investing consistently and not chasing returns, keeping lifestyle inflation in check with your income and having an emergency fund. 

Life at 70 isn’t a crisis to survive, and from what I’ve seen, it’s the first time they have actually had time for themselves. 

What do you think is driving the fear of retirement?

How much is enough to retire in India. I am going to stay alone for life. I am around 39 now. I have a own house. I also have 2 houses in small town given for rent. I have a plot in Bangalore. I also have a good job and corpus of around 3 crores in mf, shares etc. I have a pf around 50 lakh. I don't have any debts or loans. I have a job which pays well. But I want to know when I can retire