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Krishna

Krishna Kumar  |341 Answers  |Ask -

Workplace Expert - Answered on Mar 27, 2024

Krishna Kumar is the founder and CEO of GoMoTech, a company that provides strategic consulting in B2B sales, performance management and digital transformation.
Before branching out on his own, he worked with companies like Microsoft, Rediff, Flipkart and InMobi.
With over 25 years of experience under his belt, KK is a regular speaker at industry events and academic intuitions, both in India as well as abroad.
KK completed his MBA in marketing from the Sri Sathya Sai Institute of Higher Learning in Andhra Pradesh and his management development programme from XLRI, Jamshedpur.
He has also completed his LLB from Nagpur University and diploma in PR from Bhavan’s College of Management, Nagpur, where he was awarded a gold medal.... more
Asked by Anonymous - Mar 22, 2024Hindi
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Career

I have 18 yrs of exp in recruitment field,yet have been able to build my skills.i have not become manager and so salary has not grown.ihave worked in consultancy only. At age 47,I feel burnout,and am without job opportunity due to stability and age .pl advise

Ans: Dear

I can feel your pain...it's not easy..

Few thoughts.

1. Talk to your friends and family to understand yourself better...why you got stuck...was it because of poor decisions, behaviour issues or anything else...do an honest self introspection.

2. Talk to senior people from industry and understand from them what you can do now.

3. Accept your emotional state...if you think appropriate go and talk to therapist they will help you understand yourself better.

While I know how painful it must be for you however I would say that it's pain and suffering that forces us to introspect and that provides us direction...so believe in yourself and life force.

Fact that you have come this far in life that shows you have tenacity and resilience... believe in that strength of yours and it will help you move forward. Your Sincerity will guide you.

All the best.
Career

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Hello Mayank,I am a commerce graduate and have around 15 years of experience in back office operations.I am currently working at the document management department in an oil and gas MNC at a designation equivalent to that of a senior clerk.I am nearing 40 and I will be losing my current job in the next few months.My problem is that I am searching for a new job since one year but not getting any interviews. I guess this is due to my age (I am 40 and still at the clerical level) and my salary (around Rs 50,000) which is a bit on higher side with respect to my designation in my city.I don't have the skillsets or attitude for a team leader or managerial position.At present, I am not in a financial and mental state to acquire new skill sets, learn new things or start new businesses which are obvious suggestions.I can't work in BPOs as they don't hire associates at this salary and particularly at this age. Besides, I am not comfortable working night shifts.Could you suggest some different solution to my problem as I have already figured out/tried the common ones.Thanks in advance.Name withheld on request.
Ans:

Hi.

Your question has so many ‘I can't’ statements that you have yourself ruled out many feasible options.

Please remember that, in the job market, there are many more qualified people than there are decent jobs. So you will certainly need to change your mindset and be flexible to adapt and learn new skill sets.

Even Sachin Tendulkar had to adapt to T-20 to play the IPL!

Approach the situation with a positive mindset and things will work out for you.

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HR, Workspace Expert - Answered on Mar 26, 2024

Asked by Anonymous - Mar 24, 2024Hindi
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I have 18 yrs of exp in Recruitment field, yet have Not been able to build my skills. I have not become a manager and so my salary has not grown. I have worked in consultancies only (not companies ) At age 47, I feel burnout, and am without job opportunity due to stability and age . Pl advise.
Ans: I’m sorry to hear that you’re feeling this way, but please remember that it’s never too late to make changes in your career. Here are a few suggestions:

Upskill: Consider upskilling in areas that are in demand in the recruitment field. This could be data analysis, HR technologies, or even soft skills like leadership and negotiation. There are many online platforms offering courses that you can take at your own pace.
Networking: Networking can open up opportunities that you might not find in job postings. Attend industry events, join online forums or groups related to your field, and don’t hesitate to reach out to old colleagues or friends.
Mentorship: A mentor who has experience in your field can provide guidance, help you set career goals, and offer advice on professional development.
Well-being: It’s important to take care of your mental health. If you’re feeling burnout, it might be helpful to speak to a professional who can provide strategies to manage stress. Remember, it’s okay to take breaks and make time for activities you enjoy.
Consult a Career Coach: A career coach can provide personalized advice based on your specific situation. They can help you identify your strengths, explore different career paths, and plan actionable steps towards your career goals.
Remember, everyone’s career path is unique and it’s okay to take your time to figure out what works best for you. Good luck!

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Archana

Archana Deshpande  |45 Answers  |Ask -

Image Coach, Soft Skills Trainer - Answered on Apr 16, 2024

Asked by Anonymous - Mar 28, 2024Hindi
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I have 17 yrs experience in the Recruitment field, yet have Not been able to build my skills. I have not become a manager and so my salary has not grown. I have worked in consultancies only (not companies ) At age 47, I feel burnout, and am without job opportunity due to stability and age . Pl advise.
Ans: Hi!!You have the experience, 17 yrs ….build your future on it! Nothing in life ever goes waste. Look a little deeper into yourself, why is that you didn’t become a manager? What skills you need? Looking the part, leadership skills, public speaking, communication skills? In today’s world you can learn any skill that you want… believe in yourself, perform a SWOT analysis ( Google SWOT ) .
Put everything on paper… you’ll get a lot of clarity and it will no longer overwhelm you. Any age is a good age to start learning. You are just 47… there is still a whole life ahead of you!!
Burnout comes when you stop learning and not doing stuff that brings you joy. Next 30 days., you’ll do the following-
1. 20 mins of physical activity, it can be anything which makes your heart beat faster, brisk walks, dancing non- stop , etc
2. 10-15 mins of any activity which fills your heart with joy,( make your joy list, start doing one of them every day) Your energy for life comes from your joy list!
3 spending time in nature ( nature heals you)
4. Up skilling yourself
Forget the past now, we can’t change it…plan all of your today with one step in the future and it all starts with taking care of yourself..
All the best…

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Moneywize

Moneywize   |122 Answers  |Ask -

Financial Planner - Answered on Jun 25, 2024

Asked by Anonymous - Jun 13, 2024Hindi
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Ours is a family of 3 people -- My wife, I and my daughter who is 15. I am 39, my wife is 37 and our monthly expenses are Rs 90K. I own my house and expect to have no fixed income after 65 years, and expect to live till 75. Considering the ever increasing price rise what should be my corpus at 65 for me to continue living the life style I am living today?
Ans: Calculating your retirement corpus:

Here's how to estimate the corpus you'll need to maintain your current lifestyle after retirement:

1. Retirement period:

You plan to retire at 65 and expect to live till 75. So, your retirement period is 75 - 65 = 10 years.

2. Inflation adjustment:

You've rightly considered inflation. To estimate future expenses, we need to factor in inflation. A safe assumption for India is 5-7% inflation. Let's take an average of 6%.

3. Current monthly expenses:

You spend Rs 90,000 per month currently.

4. Future monthly expenses:

To find the monthly expense at retirement (at 65), we need to consider inflation for 26 years (39 years till retirement + 10 years retirement).

You can use an inflation calculator online or a simple formula:

Future monthly expense = Current monthly expense * (1 + Inflation rate)^number of years

In your case, Future monthly expense = Rs 90,000 * (1 + 0.06)^26 ≈ Rs 3,28,550 (approximately Rs 3.29 lakh)

5. Total corpus calculation:

Now you can calculate the total corpus needed. Here's a common approach:

Total corpus = Monthly expense * Number of years in retirement * 12 (months)

However, this method doesn't consider the fact that you'll be withdrawing money every month, reducing the corpus. A more accurate method is using the Time Value of Money (TVM) concept. There are online TVM calculators or Excel functions you can use.

Here's an alternative approach that provides a reasonable estimate:

Multiply the future monthly expense (Rs 3.29 lakh) by a factor considering inflation over the period. This factor can vary depending on your risk tolerance and investment strategy. A factor of 200 is often used as a conservative estimate.
Total corpus = Rs 3.29 lakh/month * 200 (factor) = Rs 6.58 crore (approximately Rs 658 million)

Additional factors to consider:

• Daughter's future expenses: Your daughter will be an adult by the time you retire. While she won't be financially dependent, consider any potential future support you might want to provide for her education or marriage.
• Healthcare costs: Healthcare expenses tend to increase with age. Factor in potential medical needs during retirement.
• Debt: If you have any outstanding debt by the time you retire, you'll need to account for its repayment in your corpus calculation.
• Investment returns: The corpus amount assumes a certain rate of return on your investments. Research different investment options and their potential returns to refine your calculations.

Recommendation:

Consult a financial advisor for a personalised retirement plan considering your specific financial situation, risk tolerance, and investment goals. They can help you create a more comprehensive plan and suggest suitable investment strategies to achieve your corpus target.

Remember, this is an estimate. Regularly review your plan and adjust it based on changing circumstances.

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Mayank

Mayank Chandel  |1003 Answers  |Ask -

IIT-JEE, NEET-UG, SAT, CLAT, CA, CS Exam Expert - Answered on Jun 24, 2024

DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Investment in securities market are subject to market risks. Read all the related document carefully before investing. The securities quoted are for illustration only and are not recommendatory. Users are advised to pursue the information provided by the rediffGURU only as a source of information and as a point of reference and to rely on their own judgement when making a decision. RediffGURUS is an intermediary as per India's Information Technology Act.

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