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How can I use my assets to tide over the financial implications of treatment?

The sale of real estate will no doubt create the much needed financial cushion

By OLM Desk

I have Rs 25 lakh invested in mutual funds and own two completed flats that could fetch me Rs 75 lakh and Rs 1.5 crore respectively. There is a family emergency, as my wife has been detected of cancer. How can I use my assets to tide over the financial implications of the cancer treatment?

Santosh Reddy, Vizag

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Your situation is unfortunate and you may absorb some of the financial implications of the cancer treatment if you have health insurance. However, in its absence and the kind of costs that cancer treatments have, you may need to create a financial backup to face the situation. The sale of real estate will no doubt create the much needed financial cushion, but realising profits from the sale of real estate is time consuming. Nevertheless, you should initiate the sale of any one of them depending on the cost estimate you have on the cancer treatment. Use the sale proceeds from the real estate in a liquid fund that you could dip into as and when you need the money for the treatment. And, by the time the sale happens, you could redeem your mutual fund investments to tide over the interim. 

 

olmdesk@outlookindia.com

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