Health Insurance

I have taken health insurance for 22279 for a cover of 7,00,000. Although it is on the higher side I do not really have to worry about high medical bill. I am planning to continue this health insurance going forward. Having taken this floater health insurance from company it will cover my mother as well and us. If jobless I should go with wife's health plan and have to see how my mother's bills be covered from her company.

FI date and graph

My FI date is Jan 2023 which is 5 years. January pushed it due to higher monthly expenses. I have spent more than I should have and burnt my fingers, hope to be careful as my kids birthday is in February.

January expenses

I have spent 34972 in January and hoping to spend not more than 25000 in February.

Pay day for January

I have received a salary of 73693 rupees pre tax for the month of January. I usually save 50% of post tax salary but I am saving 50000 this month. Out of which I move 5500 to Franklin India Taxshield and rest to Franklin India Dynamic P E Ratio Fund Of Funds (44500).

I have paid 2,750 insurance plus kid school fee into debt fund already, I will be left with 20943 to spend this month plus about 13000 balance in savings. 

My PF() stands at as of today, although I have added 3902 and from previous balance it should be 5,26,289+3902.

Franklin India Dynamic P E Ratio Fund Of Funds

Investors may note that they will be bearing the recurring expenses of this Scheme in addition to the expenses of the underlying Schemes in which this Scheme makes investment

Expenses are high for this fund, is it worth keeping all my money in this fund? The total expense will be minimum of 2%.

21/01/2018

I decided to have 25 times expenses in this fund for safer ride may take 5 years to build it.

19/04/2018

Dear Investor, In compliance with the provisions of SEBI Circular dated February 05, 2018* on change and disclosure of Total Expense Ratio (TER), you may please note the change in the base TER of Franklin India Dynamic PE Ratio Fund of Funds - Direct Plan from 1.51% to 1.43% effective April 24, 2018 .

Thanks to SEBI , I will be paying less for my fund of funds and even less for my TAX shield fund which will be 1.04%. I should check the expense ration in fund documents on monthly basis.

The simple path to wealth

I have read The simple path to wealth book and for Americans it covers every thing but informative none the less for rest. My plan of having 25X in MF has flaw that it has 1.33 - .84 % as expense and I need to save for kids college fee, mother's health insurance and post work health insurance for self. I will get health cover as my wife never thinks about retirement, mother's insurance is something I have to look at. Hope my future company share match partly will cover Kids college fee, I will have to work for 5 years though.