Mr. Fu has a happy family, a car and a house, a certain accumulation of family wealth, healthy parents and a lovely son aged 10. The family's annual income reaches 300,000, the family's monthly living expenses are 5,000, the monthly car maintenance fee is 1000, and the mortgage is 400,000. 200,000 bank deposits, 200,000 bank wealth management products and 200,000 stock market investments. There is no other way to manage money.
Mr. Fu has 300,000 yuan. He wants to repay the mortgage in advance, but he thinks that many wealth management products on the market expect good annualized returns. He wants to manage money. How to plan this fund? Secondly, I want my son to study abroad after graduating from high school, and now I want to reserve funds for my child's education.
Financial advice:
According to Mr. Fu's family's financial situation and financial problems, financial planner William gave Mr. Fu the following family financial advice:
1. Early repayment or financial management?
On the issue of changing the mortgage in advance or managing money, William suggested that the order of repaying the loan in advance should be the commercial loan with long term and equal principal and interest, followed by the commercial loan with short term and average capital repayment method, and finally the provident fund loan.
Mr. Fu still has a 400,000 mortgage at home. It is understood that it is mainly provident fund loans. The expected annualized interest rate of the provident fund loan is relatively low, and his life has not been affected by the mortgage. It is suggested that Mr. Fu should not repay the loan in advance. 500,000 idle funds can be added with products with expected annualized expected rate of return of 6%. The expected annualized expected return on investment can be used to help repay the loan.
2. Reserve funds for children to study abroad in advance.
Mr. Fu intends to send his son to study abroad after graduating from high school, so William, a senior financial planner, suggested that children's study abroad funds should be accumulated in advance nine years from now, which can be accumulated by fixed investment or monthly fixed investment. If calculated according to the historical expected annualized rate of return of 6%, the monthly fixed investment is 6.5438+0.43 million yuan. After 9 years, there will be a considerable education fund of 6.5438+0.43 million yuan, which is enough for my son to study abroad.
3. Adhere to long-term investment and pension planning.
In the arrangement of family funds, Mr. Fu suggested setting aside some funds to deposit in the bank or Yu 'ebao as a family reserve fund; Part of the funds are allocated to treasury bonds or bank financing, and the expected annualized expected income is about 4% a year; There are also some funds that can choose expected annualized expected return products with higher fixed expected annualized expected return, such as low-risk trusts, and stable-profit selected funds suggested by William to pay teachers before. Long-term fixed investment can be used as the main expenses of the couple's future pension fund and other families.
Mr. Fu can arrange his family to travel at home or abroad once a year to improve the quality of family life, which is not only conducive to releasing work pressure, but also conducive to family harmony.
Tips:
There are three basic situations about whether it is suitable to repay the mortgage in advance: first, when signing the loan contract, you have already enjoyed a lower discount expected annualized interest rate; Second, the repayment period of equal principal has passed one third; Third, the repayment of equal principal and interest has reached the middle stage, and most of the interest has been repaid, so it is of little significance to repay the loan in advance.