Investing for a Planned Retirement

I am 54 year old and working for government of India. Both me and my wife draw an annual salary of ₹15 lakh each. Our kids are 21 and 19 years old. Both of them have completed their graduation this year. We live in government provided quarter. Our monthly expense is ₹40,000. We have two flats one in Chennai and the other one in Mumbai. Market Value of each flat is ₹1.50 crores. The outstanding loan on Chennai flat is ₹16.60 lakhs. EMI on this loan gets paid out of rent earned from the same property. Loan outstanding on Mumbai property is ₹18.75 lakhs. We have purchased a car recently on which outstanding loan is ₹10.85 lakhs. All three loans will be repaid in next 5 years. Our family medical bills get reimbursed by my employer. Apart from this, we are covered under wife's office mediclaim policy. Both of us are have insured our lives with term insurance policies. My wife will receive a monthly pension from my employer if anything unfortunate happens to me. We have also invested into PPF, PF and bank FD. We have always been systematic investors while investing in mutual funds and stocks. We have invested into Franklin India Bluechip, IDFC Premier Equity, Quantum Long Term

This article was originally published on August 21, 2014.