Market analyst Gul Teckchandani answers problems of MiD DAY readers on the current financial crisis

I want to invest so that I have enough money to fund my 10-year-old's education in the future. But, I can easily get a loan when my son becomes an adult. What are the pros and cons?
- Richard D'souza, Mumbai
Start saving aggressively now. Loans are available but they would defeat your purpose of trying to 'invest' in your son's future. I would suggest equity exposure with around 10 to 20 per cent of your savings.  Another good option would be fixed deposits or debt funds.

I have been working for 15 years and have four, small, life insurance policies worth Rs 4 lakh. However, this will not provide for my family for even a year, if something happens to me. Can you suggest some good policies.
- Pinky Shivdasani, Mumbai
Buy some more similar life insurance policies. Unit Linked Insurance Policies are a safe way to approach the equity market. Alternatively, you could invest in fixed deposits, which are a safe bet.

I am paying EMI for a house and want to invest in another. What should I do?
- Rohini Subramanian, Bangalore
The best time to go house hunting would be around January to February as I expect property prices to dip by more than 25 per cent. You should pay off  old loans before you buy another house.0

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The where, what, how and when of investments and planning your money with financial guru, Gul Teckchandani every Wednesday. Write in to wealthbeing@mid-day.com.