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  #1  
Old 6th April 2016, 08:16 AM
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Arrow Suggest Please



Kindly suggest/comment on the portfolio below:
Age 33, earning 35000 pm

Goal:

1- Wealth creation for later years.
2- Get a car, mid size.
3- Buy a commercial property for investment (resell or passive income, currently don't have the corpus for that).

Have a credit card debt of 2L. Paying it off in parts.

Mode- SIP
Starting this month.

Franklin India High Growth Cos Fund(G) 3000
HDFC Mid-Cap Opportunities Fund(G) 2000
BNP Paribas Mid Cap Fund(G) 3000

and

For tax saving
Lump-sum top-up on my existing Axis LT G fund (20000 Lump-sum) and Reliance Fund (500 Lump-sum) ELSS funds, towards the end of the year.
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  #2  
Old 7th April 2016, 01:50 PM
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Quote:
Originally Posted by arian29 View Post
Have a credit card debt of 2L. Paying it off in parts.
In my opinion, getting rid of that debt should be your first priority.

What is the interest that you are paying?

As far as I know there is no credit card that charges less than 2% interest per month.
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  #3  
Old 7th April 2016, 10:04 PM
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arian,

Let me be very blunt...but I would request you to take 1 week leave and learn personal finance thru books and various sites,,also meet financial planners some like icicidirect give a free checkup
What you need is to do Financial health SCAN..like normal medical health scan...

Currently you are in mess..of all sorts.....
Finance is all about "numbers" and not "adjectives"....
All your wishes/goals should be precise
For e,g :

Wish to buy mid size car..not sufficient ..exact cost (all inclusive), when (month and year) , Down payment you will make(how will it be sourced), Loan(at what interest rate),,,,,so on

Currently it seems any finance marketing executive who has come has sold his product to you....your left hand does not know what the right is doing....

Sorry to be harsh in my views..but hope you wake up and learn before you do the planning....the world is here to take your money for free..only YOU can take of your money....

It's like in a classroom the teacher is same but some students get first class...in same way people getting similar salaries ,,,some become rich by 15-20 years...whereas some of them can never retire at 60 also...all because of "wrong investments"
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  #4  
Old 7th April 2016, 11:11 PM
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Stop SIP and other investments and pay off the Credit Card Debt.

You are losing more money in interest than you are going to make in your investment.
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