Sweet Spot
Aasif & Hena have enough surplus to take care of future needs. All they have to do is tweak their investing strategy for meeting all goals, says SURESH SADAGOPAN, Certified Financial Planner

- Aug 9, 2016,
- Updated Aug 22, 2016 2:11 PM IST
Aasif, 36, is a research analyst with Escorts Ltd. He currently lives in New Delhi with wife Hena Zarreen and a one-year-old son, Md. Arzan. Hena is a medical writer with Kinapse in Gurgaon. The couple is planning to have a second child after two years.
Aasif and Hena have quite a few medium- and long-term goals. They are looking to buy a house next year, in 2017/18, worth `85 lakh. Arzan's formal education will start from 2018/19. They also want to have `10 lakh in present terms for Arzan's marriage. They will need the same amount for the second child too. They want to retire at the age of 50, in 2030 (Aasif) and 2032 (Hena), respectively. Therefore, it is crucial that they plan well for a financially stable life after retirement. It is also important that they have no financial liabilities then. The family also wishes to accumulate a fund to explore the world in 2020, which will cost them `20 lakh in present terms.
To take the benefits of Section 80C, Aasif and Hena can open PPF accounts with`80,000 and `1.5 lakh respectively. From next year, home loan repayment amount (principal portion) and PPF contributions will help the family save tax under 80C. The medical premium payment on policies suggested will help the couple take Section 80D benefits up to `25,000 per annum.
The plan assumes that the dual income will continue till retirement. You are advised to review the plan and rebalance your portfolio periodically, preferably every year.
Hena's employer provides medical cover, but it will be there only as long as she is employed with the same company
Aasif, 36, is a research analyst with Escorts Ltd. He currently lives in New Delhi with wife Hena Zarreen and a one-year-old son, Md. Arzan. Hena is a medical writer with Kinapse in Gurgaon. The couple is planning to have a second child after two years.
Aasif and Hena have quite a few medium- and long-term goals. They are looking to buy a house next year, in 2017/18, worth `85 lakh. Arzan's formal education will start from 2018/19. They also want to have `10 lakh in present terms for Arzan's marriage. They will need the same amount for the second child too. They want to retire at the age of 50, in 2030 (Aasif) and 2032 (Hena), respectively. Therefore, it is crucial that they plan well for a financially stable life after retirement. It is also important that they have no financial liabilities then. The family also wishes to accumulate a fund to explore the world in 2020, which will cost them `20 lakh in present terms.
To take the benefits of Section 80C, Aasif and Hena can open PPF accounts with`80,000 and `1.5 lakh respectively. From next year, home loan repayment amount (principal portion) and PPF contributions will help the family save tax under 80C. The medical premium payment on policies suggested will help the couple take Section 80D benefits up to `25,000 per annum.
The plan assumes that the dual income will continue till retirement. You are advised to review the plan and rebalance your portfolio periodically, preferably every year.
Hena's employer provides medical cover, but it will be there only as long as she is employed with the same company