r2i forum

All,
I am a new member, but I had been actively reading the posts in this forum for a long time..
hats off to everyone in this forum...your posts, suggestions, advises, concerns helps lots and lots of people like me in all possible fields..
I have couple of queries(confusions) lately. I am depending on all your suggestions to proceed further.
Admin - I am not sure where in the forum to post this message as it connects investment, Real estate, 529 all masalas in one place. You are welcome move it to the appropriate thread.

This is our scenario.
Me and my spouse are GC holders LIA and we have a 3 year old daughter USC.
We have not yet decided about our R2I. To be honest, till now we were just going with the flow. One thing for definite is, we want to have one more kid and we want the next one also to be USC.
We have really not thought about our financial goal until we came across this forum. I would say,reading the posts in this forum had really made us nervous initially to see everyone's AAP and financial goals etc..etc..
Ok.. to be honest, we don't have any proper investment plans as such..
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About investments:
In India -
in real estate - one flat (40 Lakhs) - 20 lakhs yet to be paid
one house (12 lakhs)

in ICICI prudential - 1 lakh(SIP) - I don't even know what kind of prudential plan it is.
in UTI Auto sector - 0.5 lakh
UTI growth sector - 0.5 lakh
UTI Nifty Index - 0.5 lakh.
Thats all in india.

In USA -
Emergency fund in CDs - 10 K
401 K - around 80K (Dodge and Cox)
House - 275k yet to be paid for mortgage.
other than this, in 529 - 5k.

My monthly savings in USA will be - apart from mortgage,day care and other household expenses, its 2 - 2.5K
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Now, I have couple of questions.
I am expecting around 30K this august. I am planning to split this money to pay for the flat in India , and to use the other part for USA.
I would say 15K to India and 15K to USA.

1. In USA, our current mortgage is 5/1 with 3.875% rate. May 2009 is our 5th year(I think after my 5th year, the interest rate will be 5.875%, and then increasing every year??).I am yet to pay 275K. is it advisable to prepay the mortgage, thus reducing it to 260K?
Or since I don't have any other investments, should I utilize the 15K to start to invest into something in USA? (If so, Gurus, please advise me in what should i invest).

2. Since the flat in India is to be completed only in 2008, Apart from 15k for the flat,I assume that I should be able to pay it up with the remaining money over the next year. Is it advisable to do this?

3. About kid's education, since we are not yet sure about R2I, we just started with 529 plan. is it advisable to continue the same? or should I invest in US Bonds(read RRK's article about I-bonds etc.. But I need the current scenario)

4. Or, I should invest the whole 30K in to something in US or in India.

5. How and where to invest my monthly savings of 2-2.5K?

I am counting on all your comments/suggestions to proceed me in the proper direction.
Thanks a ton,
AM

i had the same question regarding paying off my mortgage.

but i decided to put it in chennai real estate 3 years bacK....you might already know what's the real estate scene is in cheanni now...

Dear Members,

I regret that I am not highly informative in the finance/Investment field like many others in this forum.. And I am just starting to learn the concepts and ideas provided by/to other posts here. Words cannot express how much this forum holds a vital place in my life.. kudos to all the members who provides valuable information and hats off to the admin who maintains it. I really value it.

I don't know how else to post my thoughts about this forum.. As I said earlier, till now, i was hesitant and ashamed even to raise a query, since I thought I have NOT enuff knowledge (regarding finance) and i might sound stupid. But then, I convince myself to think that the reply and advise I will get from others will be much informative, and hence I posted it.

To my surprise, I didn't get any suggestions till now.. That leaves me..- whether the post was not meaningful?
The information provided was confusing?
or lack of information?
whatever it is.. members/gurus.. can you provide some lights please..???

Thanks

I see your frustrations.
As a new comer you may not know what to ask. The details you have given are not enough ; I think this is the problem for no response.

Experts in this forum may be busy with other threads and not able to spend time in posting probing questions to unearth more details.

You should use the AAP template to post your details. The template will help in providing all relevant details. Some additional details may be required later.

good luck !