Finance Plan

Soumyajit Sarkar · Age 43 · May 2026

Net Worth ₹1.97 Cr
Monthly Surplus ₹2.06 L
Today

Overview

Income (Monthly)

Your salary (in-hand)₹4,15,000
Wife's salary (in-hand)₹74,000
LIC SB (Policy 448649854)₹4,583
Total household₹4,93,583

Fixed Expenses (Monthly)

Home loan EMIs (both)₹70,400
Car loan EMI (Ford EcoSport, ends Sep 2026)₹13,000
Living expenses₹60,000
Kid (therapy + school + tuition)₹40,000
Term + Health + Vehicle insurance₹9,667
LIC investment premiums₹12,292
Groceries / CC₹30,000
Buffer₹10,000
Total fixed₹2,45,359

Car loan auto-frees ₹13,000/month from Oct 2026.

Available for New Investments

Net household surplus (with car loan)₹2,48,224
− Wife's PPF (her income)₹12,500
− Wife's SIP (her income, from Jun)₹30,000
Free May 2026 (no wife SIP yet)₹2,35,724
Free Jun-Sep 2026 (wife SIP starts)₹2,05,724
+ Car loan paid off Sep 2026+₹13,000
Free Oct-Dec 2026₹2,18,724
+ Apt 2 EMI gone Mar 2027+₹8,200
+ Jeevan Saral premium ends Mar 2027+₹2,502
Free Apr 2027 onwards (Phase 3)₹2,29,426

Wife funds her own PPF + SIP from her ₹74,000/mo salary; she keeps ~₹31,500 personal.

Net Worth

Home 1 (self-occupied)₹1,50,00,000
Home 2 (parents)₹65,00,000
Wife's PPF₹30,00,000
Wife's SIP₹4,00,000
Wife's HDFC Bank stock (250 sh @ ₹801)₹2,00,000
Emergency fund₹4,00,000
LIC accrued (rough)₹15,00,000
FDs / Stocks (yours)₹0
EPF₹0
− Home loans outstanding−₹73,00,000
Net Worth₹1,97,00,000

Critical Health Checks

  • Term life cover: ₹1 cr — INADEQUATE. Target ₹3-5 cr (2.5% of income).
  • Parents' health cover: ₹5L / ₹8L — too thin. Add super top-up ₹15-20L each.
  • Emergency fund: ₹4 L (1.7 months). Target: ₹15 L (6 months).
  • Debt: Only home loans. No CC/personal debt. ✓
  • Income: Stable + dual earners + LIC SB. ✓
  • Liquid investments: Zero in your name. Need to start.
  • Will: Not in place. ₹2 cr+ at stake. Make one.

The 5-Phase Plan

1

Stabilize & Start Building

May 2026 → Dec 2026 (8 months)

Theme: Rebuild liquidity buffer + start equity SIPs immediately. Three sub-periods as wife's SIP starts (Jun) and car loan ends (Sep).

BucketMonthlyPurpose
Liquid MF (Emergency Fund)₹50,000Start building EF from ₹4L
Equity SIP (your name)₹1,00,000Boosted to use salary raises
NPS Tier 1 (your name)₹4,200₹50K/yr → 80CCD(1B)
Cash buffer₹81,524Higher buffer while wife SIP not yet started
Total deployment₹2,35,724

Phase 1A is just 1 month (May 2026) since wife's SIP starts in June. From June, Phase 1B kicks in with reduced cash buffer.

BucketMonthlyPurpose
Liquid MF (Emergency Fund)₹50,000Continue EF building
Equity SIP (your name)₹1,00,000Continue boosted
NPS Tier 1 (your name)₹4,200Continue
Cash buffer₹51,524Reduced as wife SIP now active
Total deployment₹2,05,724
BucketMonthlyPurpose
Liquid MF (Emergency Fund)₹50,000EF → ~₹8.5L by year-end
Equity SIP (your name)₹1,00,000Continue
NPS Tier 1 (your name)₹4,200Continue
Cash buffer₹64,524Restored after car loan ends
Total deployment₹2,18,724

Equity SIP allocation (₹80K):

  • Nifty 50 Index Fund (UTI / HDFC) — ₹40,000
  • Nifty Next 50 Index — ₹15,000
  • Parag Parikh Flexi Cap — ₹15,000
  • Motilal Oswal Nasdaq 100 — ₹10,000
2

The First Windfall

Jan – Mar 2027

Theme: Use the ₹19.6L wisely. Monthly deployment continues at Phase 1C levels (₹2,18,724/mo).

AllocationAmountWhy
Top up Emergency Fund → ₹15L₹6,50,0006 months expenses
Close Apartment 2 home loan₹4,00,000Frees ₹8,200/mo, removes liability
Equity lumpsum (Nifty Index)₹9,12,000Front-load wealth creation
Total deployed₹19,62,000
3

Aggressive Wealth Building

Apr 2027 → Mar 2032 (5 years)

Theme: Maximum equity deployment during pre-college years. Apt 2 stays — parents continue living there.

BucketMonthly
Equity SIP (your name)₹1,60,000
NPS Tier 1 — ₹50K/yr (max 80CCD-1B)₹4,200
PPF (your name) — ₹1.5L/yr (legal cap)₹12,500
Cash buffer₹52,726
Your monthly deployment₹2,29,426
Wife's SIP (her income)₹30,000
Wife's PPF (her income, ₹1.5L/yr)₹12,500
Household total deployment₹2,71,926
Apt 2 — keeping it: Worth ~₹65L, dead capital but parents need a home. Loan closed Mar 2027 via Phase 2 windfall (₹4L). No appreciation assumed in projections. Reconsider sale only if parents move in with you, or you need a major liquidity event.
4

Son's College Funding

2031 → 2037

Son turns 18 in 2031. The 2032-2037 LIC waterfall (~₹42L) lands EXACTLY when you need it.

Funding SourceAmount by 2032
Equity SIP corpus (₹80K → ₹1.4L SIP for 6 yrs @ 11%)~₹1.45 Cr
LIC maturities 2032-37 (your 814s)₹42 L
Wife's SIP corpus~₹37 L
Wife's PPF (still locked, but available)~₹56 L
Education war chest by 2032~₹2.80 Cr available

Funds international UG comfortably (₹1-1.5 Cr) with massive retirement buffer left over. Indian UG would leave most of this for retirement.

5

Retirement Glide Path

2037 → 2043 (age 54-60)

Theme: De-risk and lock in retirement.

  • Jeevan Umang PPT ends Jan 2038 → ₹1.06 L/yr lifelong starts ✓
  • LIC SB ₹55K/yr ongoing ✓
  • Equity portfolio: ~₹8 Cr by 2043 (continuing ₹1.4L SIP)
  • Wife's PPF: ~₹1.45 Cr by 2043
  • Wife's SIP: ~₹1.91 Cr by 2043
  • Home 1 loan: paid off ~2044 (one more year after retirement)
  • Glide path: shift 5% equity → debt every year from 2037
  • Target retirement corpus: ~₹14.6 Cr total / ₹12.6 Cr ex-home + lifelong income
  • In today's purchasing power (5% inflation): ~₹6.5 Cr equivalent

📈 Net Worth Projection — Both Apartments Retained, 6% Real Estate Appreciation

Projections at 11% equity, 7.1% PPF, 9% NPS, 6% real estate CAGR. Both apartments kept. "Ex-home" = liquid net worth excluding Home 1 + Home 2 equity (i.e., what's actually accessible & investable — appreciation in real estate doesn't change Ex-home).

Milestone Scenario A: Hold Jeevan Umang Scenario B: Surrender Umang at Jan 2038
Today (May 2026)
Home 1: ₹1.50 Cr · Home 2: ₹65 L
₹1.97 Cr
Ex-home: ₹55 L
₹1.97 Cr
Ex-home: ₹55 L
End Phase 3 (Mar 2032)
Home 1: ₹2.13 Cr · Home 2: ₹92 L
~₹5.59 Cr
Ex-home: ~₹3.10 Cr ✓
~₹5.59 Cr
Ex-home: ~₹3.10 Cr ✓
End Phase 4 (Mar 2037)
Home 1: ₹2.85 Cr · Home 2: ₹1.23 Cr
~₹10.14 Cr
Ex-home: ~₹6.46 Cr
~₹10.14 Cr
Ex-home: ~₹6.46 Cr
Jan 2038 (year 15, PPT end)
Home 1: ₹3.02 Cr · Home 2: ₹1.31 Cr
~₹11.20 Cr
Ex-home: ~₹7.30 Cr
Then: ₹1.06 L/yr starts, lifelong
~₹11.20 Cr
Ex-home: ~₹7.30 Cr
+₹19.7 L tax-free surrender lumpsum (replaces policy value)
Retirement (Age 60, Apr 2043)
Home 1: ₹4.04 Cr · Home 2: ₹1.75 Cr
~₹19.39 Cr
Ex-home: ~₹13.67 Cr
+ ₹1.06 L/yr lifelong income
~₹19.45 Cr
Ex-home: ~₹13.73 Cr
No more LIC income

Net worth composition at Mar 2032 (both apts retained, 6% RE appreciation)

Home 1 @ 6% × 6 yrs₹2,13,00,000
Home 2 (parents) @ 6% × 6 yrs₹92,00,000
Equity portfolio (yours) — boosted SIP~₹1,64,00,000
Wife's PPF~₹56,00,000
Wife's SIP~₹37,00,000
Wife's HDFC stock~₹3,00,000
Your PPF~₹9,00,000
NPS~₹4,00,000
Emergency Fund~₹15,00,000
LIC accrued~₹22,00,000
Total assets~₹6,15,00,000
− Home 1 outstanding (no prepayment)−₹56,00,000
Net Worth (Total)~₹5.59 Cr
Net Worth (Ex-home)~₹3.10 Cr ✓

Real estate appreciation assumption

Using 6% CAGR for both apartments — a conservative middle estimate. Recent Kolkata trends (2023-2026) have been 8-12% YoY, but long-term sustainable Indian real estate growth is typically 5-7%. Source

YearHome 1 (from ₹1.50 Cr)Home 2 (from ₹65 L)
2026 (now)₹1.50 Cr₹0.65 Cr
2032 (+6 yrs)₹2.13 Cr₹0.92 Cr
2037 (+11 yrs)₹2.85 Cr₹1.23 Cr
2038 (+12 yrs)₹3.02 Cr₹1.31 Cr
2043 (+17 yrs)₹4.04 Cr₹1.75 Cr

Note: Real estate appreciation only affects "Total NW" — "Ex-home" stays the same since we're excluding home equity. Inflation-adjusted (5% inflation): real growth in homes ≈ 1%/yr, so the apparent gains are smaller in today's purchasing power.

Jeevan Umang — VERIFIED 8% Survival Benefit (Plan 945)

Confirmed by multiple sources: LIC Jeevan Umang Plan 945 pays 8% of Basic Sum Assured every year as survival benefit, starting from end of Premium Paying Term, continuing until age 100. For your policy (SA ₹13.25 L): ₹1,06,000/year guaranteed from Jan 2038 (age 56) to age 100.

Sources: Insurance21, LIC Calculator, PolicyX, Official LIC. Note: plan was withdrawn from sale Oct 2024 but existing policies remain in force with original terms.

Surrender values at different ages (estimates — call LIC for exact)

YearYour ageStatusPremiums paidCumulative SB receivedEstimated surrender value
545Paying₹5.20 L₹0~₹4-5 L
1050Paying₹10.39 L₹0~₹10-12 L
1555PPT ends₹15.58 L₹0~₹18-20 L (peak)
2060SB mode₹15.58 L₹5.30 L~₹19-22 L
2565SB mode₹15.58 L₹10.60 L~₹19-22 L
3070SB mode₹15.58 L₹15.90 L~₹18-21 L
4080SB mode₹15.58 L₹26.50 L~₹17-20 L
60100Maturity₹15.58 L₹46.64 L~₹35-50 L (maturity)

⚠ Surrender values are estimates based on standard LIC GSV/SSV formulas. Exact values change yearly based on LIC's declared bonus rates and surrender factors. For an accurate number, call LIC with your policy number on the day you're considering surrender.

Key insight: If you surrender at age 70, you collect ₹15.9 L (cumulative SB) + ~₹19 L (surrender) = ₹35 L total. If you HOLD until age 100: ₹46.64 L SB + ₹35-50 L maturity = ₹80-95 L total. Holding wins by ₹45-60 L assuming you live long. The breakeven age vs surrender at 55 is ~age 75.

The trade-off in plain English (both apts retained, real estate @ 6%, with salary raises):

You'll be sitting on ₹19.39 Cr total / ₹13.67 Cr liquid at retirement (age 60). Real estate accounts for ~₹5.7 Cr (Home 1 + Home 2), liquid wealth ~₹13.7 Cr.

Surrendering Umang at 2038 gives you a one-time ₹19.7 L cash boost, but only adds ~₹6 L to your 2043 net worth. Holding gives you ₹1.06 L/yr lifelong income on top of the total NW — pure longevity insurance.

Recommendation: Hold Jeevan Umang. ₹13.67 Cr liquid is enough that the small surrender gain doesn't matter, and the lifelong income certainty in retirement does.

Note on inflation: ₹19.39 Cr in 2043 ≈ ₹8.5 Cr in today's purchasing power (at 5% inflation). Comfortable retirement.

Monthly Tracker

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Goals

Future Cash Inflows

Locked & loaded — these are guaranteed (LIC) or near-guaranteed payouts.

WhenAmountSourceUse it for
Already happening₹55,000/yrPolicy 448649854 (lifelong)Counted as monthly income
Jan 2027₹14,37,500Jeevan Shree (paid-up)EF top-up to ₹15L + close Apt 2 loan ₹4L
Mar 2027₹5,25,350Jeevan Saral maturityEquity lumpsum
2032₹6,80,000Endowment 814 #1Son's college
2033₹6,74,520Endowment 814 #2Son's college
2034₹6,78,050Endowment 814 #3Son's college
2035₹6,85,100Endowment 814 #4Son's college
2036₹6,83,860Endowment 814 #5Son's college / PG
2037₹6,94,430Endowment 814 #6Son's PG
2033-2037~₹3,70,000Wife's 3 policies (495673973-75)Family buffer
2038 onwards₹1,06,000/yrJeevan Umang (lifelong)Retirement income floor
By 2038 total~₹73 LAll maturities + Umang startPlus equity portfolio growth

🎯 Goal: ₹3 Cr by March 2032

Liquid wealth (excluding both home equities) — your revised target. Time horizon: 6 years.

Verdict: ✅ Already achieved with the salary raises (₹4.15L + ₹74K)

Goal (ex-home liquid wealth by Mar 2032)₹3.00 Cr
Updated plan projection (with salary raises → equity SIP)₹3.10 Cr ✓
Margin above goal+₹10 L

Your salary raises (₹15K + ₹7,333 = ₹22,333/mo) flow directly into a boosted equity SIP. This pushes you from ₹2.90 Cr (old plan) to ₹3.10 Cr ex-home wealth at Mar 2032. No further tweaks needed — the goal is hit by simply directing the raises to investments.

How the salary raises got you there

Your salary went from ₹4L → ₹4.15L (+₹15K) and wife's from ₹66.7K → ₹74K (+₹7.3K). That's ₹22,333/mo extra household income. Routed entirely to equity SIP, this compounds to ~₹20 L extra by 2032.

At Mar 2032Old Plan (₹4L+₹66K salary)New Plan (₹4.15L+₹74K)
Equity portfolio (yours)₹1.44 Cr₹1.64 Cr
Wife's PPF₹56 L₹56 L
Wife's SIP₹37 L₹37 L
Wife's HDFC stock₹3 L₹3 L
Your PPF₹9 L₹9 L
NPS₹4 L₹4 L
Emergency Fund₹15 L₹15 L
LIC accrued₹22 L₹22 L
Total ex-home liquid₹2.90 Cr₹3.10 Cr ✓

What changed in the deployment

The salary raises feed directly into equity SIP — the highest-compounding bucket — across all phases.

PhaseOld Equity SIPNew Equity SIP
Phase 1A (May 2026)₹80,000₹1,00,000
Phase 1B (Jun-Sep 2026)₹80,000₹1,00,000
Phase 1C (Oct-Dec 2026)₹80,000₹1,00,000
Phase 2 (Jan-Mar 2027)₹80,000₹1,00,000
Phase 3 (Apr 2027 → Mar 2032)₹1,40,000₹1,60,000

Cash buffer stays roughly the same. NPS, PPF, wife's PPF/SIP all unchanged.

Stretch goals (if you want more than ₹3 Cr)

You're already at ₹3.10 Cr. If you want to push higher (towards ₹3.5 Cr), here are 2 stretch options:

Stretch leverAdds by 2032New ex-home NW
Bump Phase 3 equity SIP from ₹1.6L → ₹1.8L (use cash buffer)+₹16 L~₹3.26 Cr
Wife bumps SIP ₹30K → ₹40K (her decision)+₹13 L~₹3.39 Cr
Both stretch levers+₹29 L~₹3.55 Cr

No need to apply these unless you want to. ₹3.10 Cr already exceeds your ₹3 Cr goal.

Risk-adjusted projections (because markets aren't smooth)

Equity returns vary year to year. Here's what your 2032 ex-home NW could look like in different scenarios with the new salary-boosted plan:

ScenarioEquity returns assumedEx-home NW at 2032Hits ₹3 Cr?
Pessimistic8% CAGR~₹2.83 CrJust short
Conservative9% CAGR~₹2.95 CrAlmost
Base case (boosted plan)11% CAGR~₹3.10 Cr✓ Yes
Optimistic13% CAGR~₹3.30 Cr✓ Yes
Boom market15% CAGR~₹3.55 Cr✓ Yes

Even at 9% returns, you're at ₹2.95 Cr — within touching distance. Above 10%, you cross ₹3 Cr comfortably. The salary raises give you a healthy buffer against market underperformance.

📋 Action Items for the boosted ₹3 Cr Plan

  1. Set up Equity SIP at ₹1,00,000/mo starting May 2026 (split: ₹50K Nifty Index, ₹15K Nifty Next 50, ₹20K Flexi Cap, ₹15K Nasdaq 100)
  2. Liquid MF at ₹50,000/mo for EF building (continues until Phase 2 windfall tops it up)
  3. NPS Tier 1 at ₹4,200/mo
  4. In April 2027, when Phase 3 begins, bump Equity SIP to ₹1,60,000/mo and start your own PPF at ₹12,500/mo
  5. Track milestones: equity ₹50L by mid-2029, ₹1 Cr by Q1 2031, ₹1.5 Cr by Q1 2032
  6. The salary raises do all the heavy lifting — just direct them to equity instead of letting them inflate lifestyle

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