Harish Maheshwari, 44, stays in Kolkata with wife Sangeeta, 43, and daughter Srinkhala, 16. Harish works as the head of finance in a private company while Sangeeta is a teacher. They earn Rs. 1.92 lakh per month including their income from their Hindu Undivided Family (HUF). They spend Rs. 72,500 per month on household expenses and, annually, Rs. 2 lakh and Rs. 1.2 lakh on Srinkhala’s education and the family vacation, respectively. Their equated monthly instalment of rs. 33,000 will start soon.

Their investments include three houses (Rs. 1.06 crore), gold (Rs. 15 lakh) and debt securities (Rs. 49.07 lakh) in the form of recurring deposits, fixed deposits, infrastructure bonds, Public Provident Fund (PPF) and Sangeeta’s Employees’ Provident Fund (EPF) of Rs. 4.46 lakh. Their equity exposure is through direct equity, mutual funds and unit-linked insurance plans. The portfolio is divided 40 per cent each into equities—which is volatile—and real estate, which is illiquid. Their liabilities include a home loan of Rs. 33 lakh from State Bank of India.

Harish and Sangeeta have total life covers of Rs. 1.12 crore and Rs. 58.5 lakh, respectively, and pay an annual premium of Rs. 1.84 lakh for a mix of traditional and term plans and Ulips. Their goals include planning for their retirement, Srinkhala’s education and wedding, and purchase of an additional house at retirement.

anaghpal@outlookindia.com