Career Change at 41: Is It Too Late?

Ans: Hi,

To pay your personal loan faster, you need to save and pay all amount left after EMI and your expenses towards repayment of personal loan.
Do not stop paying the home loan EMIs
.
If personal loan interest rate is higher than the returns you are getting on Mutual funds, then you can consider withdrawing from MF and paying up the personal loan.

Thanks & Regards
Janak Patel
Certified Financial Planner.

Ans: Hi,

Lets look at your investments and see what you will be able to achieve at the age of 60.

ULIP - This is a insurance + investment product and as you have completed your premium term of 7 years you should be able to access this amount (now or 3 years later). It may seem to be a good product but I believe on both Insurance and Investments there are better products. First the insurance cover is not substantial and the charges are quite high. They will manage to invest the amount just like a Mutual fund. Its better to split insurance and investment. If you are looking at this amount like an investment, then the amount of 22 lakhs is available as a starting point, over the next 24 years if invested at 12% rate (typical returns in Mutual Funds), you will be able to accumulate 3.33 crores. You can buy a term life cover of a high value (much higher than the ULIP cover), for a very low premium and you should definitely get that and com out of the ULIP.

Savings of 20 lakhs - I suggest you keep about 10 lakhs aside in some FDs as your emergency fund - to be used only for any unexpected/emergency situation. This will grow to 40 lakhs at 6% over the next 24 years.
The remaining 10 lakhs should be invested in Mutual funds and at a 12% returns after 24 years this will accumulate into an amount of 1.51 crores.

Thus you can accumulate approx. 5.25 crores with these 2 amounts invested as above for the next 24 years.

To achieve 8 crores, you need to accumulate another 2.75 crores. If you invest 16500 monthly into similar investment (Mutual fund SIP) and assuming same return of 12%, you can accumulate this amount.

In this process we have not considered the land property you have, as its difficult to calculate its value without knowing its location and usage/type. So you can get some estimate for it in future then you can accordingly reduce the monthly SIP requirement.

Mutual Funds are a good investment option when you consider its long term benefits - as its managed by professionals. Its important to construct a good MF portfolio and with time of your side, you should be able to achieve your goal comfortably.

Consult a fee based Certified Financial Planner/Financial advisor who can help and guide you for this.

Thanks & Regards
Janak Patel
Certified Financial Planner.

Ans: Hello Veeru
Given the score and category mentioned, your son has a strong likelihood of gaining admission to one of the NITs. At this point, it is not feasible for us to determine the specific NIT name. Actively participate in the counseling process and monitor it closely as well.
Best of luck.
Follow me if you like the reply. Thanks
Radheshyam

Ans: Hello Dear
If no options left with you, prefer CSE @ VIT Chennai. It is also one of the best option from career point of view.
Best of luck.
Follow me if you like the reply. Thanks
Radheshyam

Ans: Hello Aradhya.
It would be advisable to reach out to the class or coaching instructors who can provide you with proper guidance and compile a list of reference books from an academic perspective. Essentially, CBSE books are commonly referenced for all kinds of entrance examinations.
Best of luck.
Follow me if you like the reply. Thanks
Radheshyam

Ans: Hello Nisha
If possible prefer Bio-Tech @ GGSIPU Delhi.
Best of luck.
Follow me if you like the reply. Thanks
Radheshyam

Ans: Hello Sikandar
To succeed in exams such as NEET, it is advisable to abandon the concept of dummy physics. It is preferable to enroll in a regular PCB course at college and consider joining a reputable coaching institute if financially feasible. Encourage her to concentrate on all subjects equally. With the recent NEET 2025 question paper, the NTA has indicated that the physics exam will become more challenging in the upcoming years to ensure fair competition among students. Therefore, opting for a regular course is recommended.
Best of luck.
Follow me if you like the reply. Thanks
Radheshyam

Ans: Hello dear
Apart from distance point of view, it is advisable to prefer CSE @ Manipal Jaipur over VIT. Go with Manipal Japiur without thinking and confusion.
Best of luck.
Follow me if you like the reply. Thanks
Radheshyam

Ans: Hello S.
We are unable to forecast the admission process for VIT. We encourage you to engage actively in the VIT counseling process and monitor it closely. If a seat becomes available, the VIT administration will reach out to you.
Best of luck.
Follow me if you like the reply. Thanks
Radheshyam