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Chat Transcript

Harshvardhan Roongta

CFP , Roongta Securities

Financial Planning and Asset Allocation


Questions Answered


guest: I have Personal loan of 5.5 lakhs and have 3 lakhs of cash and expecting 2 lakhs due to mature in 1 year. I also want to purchase a house as I am staying in rent. Please suggest should I pre-close the loan and accumulate money for down payment for home purchase or should I invest the money I have in home purchase and continue the loan. The personal loan is 1 year old and pending 4 years.

Harshvardhan Roongta: Personal loans attract higher interest and its desirable to get rid of the same at the earliest. I suggest that you payoff the loan with the amount that you have in hand and the FD that will mature in 1 year. Thereafter, you may accumulate for down payment.

guest: I need a amount of around 50 lacs after 15 years for my daughters education. I have appx. 7 to 8 lacs cash avl with me . I can also save monthly through SIP or mutual funds. please advice.

Harshvardhan Roongta: Its a good thought to plan for your children`s higher education well in advance so that with small monthly investments you can achieve your targeted corpus. If we simply look at monthly contributions in Equity Schemes then @ 14% CAGR you can achieve your targeted corpus with a monthly investment of about Rs. 8-9k. Incase you wish to also use the lumpsum that you have for the same goal, then you may do so, however, use the STP route to invest this amount in Equities rather than as lumpsum in current market valuations. You may create a portfolio as follows: 1) SBI Bluechip fund 2) ICICI Value Discovery Fund 3) Canara Robeco Emerging Equity Fund. Incase you are investing via STP, then invest the lumpsum in liquid funds of the same AMC`s and then set up a STP into the above referred schemes.

guest: For a senior citizen please suggest some scheme??

Harshvardhan Roongta: Before suggesting a suitable scheme, its important for me to know certain details such as the amount of investment, your current cashflows, your current investments, time horizon , risk profile etc. These are very important inputs before suggesting "suitable" schemes. A Very good scheme may not be suitable for you ! Therefore, its essential to find that suits your profile and serves your needs. Meet a planner in person and discuss this.

guest: want to save atleast 50 lacs for children education after 15 years. how much I shall invest monthly in sip and suggest any schemses.

Harshvardhan Roongta: I have replied to a similar query above. You may refer to the same . Even the schemes have been suggested.

guest: My company has deducted more than Rs. 8 lacs from the ex-gratia settlement post my early retirement. What investments to be made for savings this tax.

Harshvardhan Roongta: I am not sure whether you can save the tax on this ex-gratia payment that you have received from your employer. However, in any case, look to maximise the limits in sec. 80C to begin with, incase you havent done so yet. Other tax deductions u/s. 80D (mediclaim) can also be used. i wouldnt suggest that you invest in NPS only to save tax, so you may avoid that. For more specific TAX provisions on this ex-gratia payment, you may consult a tax consultant or post your query on a chat show before a "tax expert". Check the chat schedule on moneycontrol.com

guest: I am 27 years old, unmarried. I am currently earning 7.6 LPA from the permanent job. I am looking for investment options which could help me maximise the return with moderate risk along with the tax saving. Please suggest what investment options are good for me. Currently, I have invested in following funds: DSP Blackrock Tax saver 2000 Kotak Select Focus growth 2000 L&T mid cap 2000 Birla Sl equity fund 2000 HDFC Balanced 2000 In addition to that, I have only PF as a saving which has around 76K.

Harshvardhan Roongta: You seem to be doing fine with your portfolio so far. You already have a tax saver ELSS scheme. You havent mentioned that amount that you wish to invest. However, you may add another tax saving scheme in your portfolio i.e IDFC Tax Advantage (ELSS)Fund.

guest: Hi I am paying LIC jeevan Anand premium of 33K and period 30 years and value is 10 lakh. Can you tell me how much I will get after 30 years ?

Harshvardhan Roongta: Investment based insurance policies ( Endowment Plans) would give about 5-6% CAGR returns. Accordingly, you should estimate to receive a total of approx Rs. 25 Lakhs after 30 years. This includes the payment of Sum Insured + Bonuses on maturity. Further, in Jeevan Anand the life cover of Rs. 10 Lakhs will continue until demise.

guest: Hi, I am 37 years old person. I am already investing 5000 Rs on each fund \"Canara Robeco Emerging Equities - Regular growth and DSP BlackRock Microcap fund - Regular plan growth\". I am planning for another 5000Rs to invest. my idea is to invest in a large cap fund. Please suggest a good option and fund for me. Regards, Balamurugan

Harshvardhan Roongta: You are right when you desire to invest now in a Large Cap scheme as your existing investments are only in Mid-small Cap funds. Invest the entire Rs. 5,000 p.m in SBI Bluechip Fund.

guest: Hello Sir, Dr A Sharma here. I have a ques regarding person loan for my sister\`s wedding. I am a govt servant with gross monthly income of 1.1lakh.My expenditure are as following.. PPF 20K,Group insurance 5k,SIP 16k, tax 15k, other expenses 15k.I have accumulated 3 lakh in PPF and 4 lakh in various mutual funds including SIP. Now for my sister\`s wedding i need some 8 lakh. Should I use my savings for that or take a personal loan for same. Please also guide me for my future investment planning with view that i am getting married next year. Thanks in advance.

Harshvardhan Roongta: As far as possible avoid taking a loan. Ideally its not desirable to redeem out your investments, however, the reason you save is to use that money for your needs. Therefore, you should use for your money first and hence go ahead and use your savings for your sisters wedding. After this, you will need to get back with your investment journey and try and aggressively create your investment corpus back. You investment plan can be created only after you are settled with your finances post your sisters wedding as usually we have seen that events like marriage , house purchase , renovations take up more money than originally budgeted.. so as of now wishing you and your sister loads of good wishes ! Do write back after the wedding ceremony to plan for your future.

nev38: Sir, In the current market situation...do you suggest investing in Multicap mutual funds or Balanced mutual fund?? Can you suggest some funds for investing Rs.5000 as SIP for 5-7 yrs time period.Thanks.

Harshvardhan Roongta: Multi caps funds and Balanced Funds cannot be compared as they have different structure. However, given that you wish to invest for 5-7 years and the current market valuations you should consider investing in Balanced Funds. The entire Rs. 5,000/- can be invested in Reliance Balance Fund.

maneesh90: Sir, I have 10 lacs home loan @ 9%. is it advisable to close and invest EMI of approx. Rs. 24000 in mutual fund or continue home loan.

Harshvardhan Roongta: A very common situation but no clear answer. Its a very subjective decision. If i have to suggest based upon very limited information i suggest that you pay off the loan and invest the saved EMI amount via SIP in mutual funds. Note that i am suggesting this without actually going into too much details such as your goals, cash flows, other existing investments etc.

guest: Investment in shares sold after a period of one year through stock exchange paying STT, no income tax is payable on capital gains. But if the same is sold to company through buyback offer will the gains attract income tax. Would like clarification in the matter. Kamala Nair

Harshvardhan Roongta: Many companies offer the buy back via tendering process on the Stock Exchange platform itself. If the buy back that you are participating in is on the exchange platform then STT will be levied and the LTCG will be tax exempt.
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