L&T Mutual Fund and Cafemutual's search for India's first 'perfect planner' is still on. If you believe you are the best at solving complex financial scenarios, put your skills to test by sending in your entries by Monday (September 13).
The best entry will get a digital certificate, trophy and Amazon voucher.
How to participate?
Shared below is a financial scenario of a family which has just lost its sole breadwinner. As an advisor to the family, you have to come up with a mutual fund plan that generates regular income while also building a corpus for the family's financial goals.
The entry has to be mailed to abhishek@cafemutual.com.
The scenario is designed to resemble the problems in the real world. This is why some of the data has been left for you to figure out, just as you would do in a real case.
"Families plan goals but most often they do not have an idea as to what amount they would need for them, especially in case of marriage, retirement and higher education. They often rely on MFDs to work out the ideal sum. That's why the perfect planner contest has not clearly defined all the monetary requirements," said Prem Khatri, Founder and CEO, Cafemutual.
The scenario
45-year-old Preeti lost her husband Arjun due to covid. Arjun was the sole bread earner in the family and is survived by his wife, ageing mother and 12 year old daughter.
Preeti will get Rs.2 crore from an insurance company and Rs.32 lakh from Arjun’s employer in the form of provident fund and gratuity.
Preeti knows that Arjun was investing in mutual funds through SIPs but she has no idea on how to get this money. The current value of his MF holdings is Rs.17 lakh.
Now, Preeti approaches you to get help on mutual funds. She also wants to you devise a mutual fund investment plan to fund her daughter’s higher education in 6 years and wedding in 15 years.
Preeti also wants your help to generate regular income to meet household expenses which include medical expenses of her mother-in-law. Currently, the family spends Rs.28,000 per month to meet monthly household expenses.
Preeti does not have term insurance and medical insurance. Also, Arjun had an outstanding house loan of Rs.33 lakh.
