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22 & Feeling Lost After Failed UPSC Attempt - What Career Options?

Prof Suvasish

Prof Suvasish Mukhopadhyay  |254 Answers  |Ask -

Career Counsellor - Answered on Dec 18, 2024

Professor Suvasish Mukhopadhyay, fondly known as ‘happiness guru’, is a mentor and author with 33 years of teaching experience.
He has guided and motivated graduate and postgraduate students in science and technology to choose the right course and excel in their careers.
Professor Suvasish has authored 47 books and counselled thousands of students and individuals about tackling challenges in their careers and relationships in his three-decade-long professional journey.... more
Prashasthi Question by Prashasthi on Nov 27, 2024Hindi
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I am 22 yrs old, preparing for UPSC, gave one attempt didn't clear it. I am not feeling well mentally and would require professional help but my parents are not willing to pay for it. What career options do I have? Can I prepare for UPSC while being financially independent? I am a BSc.B.Ed Mathematics Graduate. And I also don't know how to convince my parents.

Ans: It will be difficult to convince your parents. It's good you lost only one year, there are many candidates who have lost 4-5 years for repeated attemmpt of UPSC. UPSC is a big trap and hardly very few percentage clears it. First engage yourself, then try. Since you are B.Sc, B.Ed try for teaching job in schools, if you don't get start online and off line tuitions. Once you start earning you will feel happy and your minds will be fresh. Then you try for UPSC parallely. At least even if you fail you will have teaching experience. Start preparing for UPSC once you start earning. Best of luck. Just follow me. May God Bless You. Professor......................................:)
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Krishna

Krishna Kumar  |383 Answers  |Ask -

Workplace Expert - Answered on Mar 24, 2024

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I have just recently completed my btech in Computer science engineering from a tier 3 engineering college in Kolkata. Being a tier 3 college, there weren't any decent on campus placements. Further, I always wanted to become an IFS( Indian Foreign Service) officer, so always wanted to sit for UPSC after finishing my graduation. But now that I have seriously started thinking about it, I am not sure what to do. I mean I want to pursue UPSC, there is no financial pressure from family, atleast not for the next 2 years but I feel like if I don't make it (since I have to consider the scenario that I may fail to crack the exam), I don't know whether I will be able to get a job after 2 years gap after graduation in IT sector or will I be able to pursue further studies such as MS from USA or MBA from tob b schools in India. I am feeling depressed and helpless as I am unable to decide what to do? Should I just start looking for a job right now or just prepare for UPSC and don't worry about those stuff right now. I would greatly appreciate your answers and views in this matter.
Ans: Dear Mr.Soumik

Cracking UPSC is not easy but it's worth the effort. Believe in yourself and put your heart and soul in it....suggest you watch the movie 12th fail.

Recently I hired a member in my team, he pursued UPSC for two years and was not successful...the preparation that he did for 2 years made him a different person and that's the reason I hired him

It is said that when we aim for the moon and if we don't get it we would still lmd on some star...

All the best.

..Read more

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Career Coach  |48 Answers  |Ask -

Workplace Expert - Answered on Feb 27, 2024

Asked by Anonymous - Feb 23, 2024Hindi
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I failed UPSC thrice. I am 24 and jobless. My parents are apprehensive and want me to take up a job and start my career. But I want to try one more time. If I take up a job I won't be able to focus. Pls advice
Ans: It sounds like you're facing a challenging situation, and it's understandable that you're feeling conflicted. Here are some points to consider:

1. Evaluate your situation: Take some time to assess why you haven't succeeded in the UPSC exams so far. Is it a lack of preparation, exam strategy, or other factors? Identifying the reasons can help you address them effectively.

2. Discuss with your parents: Have an open and honest conversation with your parents about your aspirations and concerns. Explain why you want to give the UPSC exam another try and discuss any alternative plans you might have.

3. Consider a compromise: Explore the possibility of finding a job that allows for some flexibility in your schedule, or one that aligns with your long-term goals. This way, you can gain work experience while still pursuing your dream of clearing the UPSC exams.

4. Create a balanced plan: If you decide to continue preparing for the exams, make sure to create a structured study plan that allows you to dedicate sufficient time to both studying and earning a living. This might involve setting specific study hours each day or week.

5. Seek support: Consider seeking guidance from mentors, tutors, or coaching institutes to enhance your preparation for the UPSC exams. Additionally, joining study groups or online forums can provide you with valuable insights and motivation.

6. Take care of yourself: It's essential to prioritize your mental and physical well-being during this time. Make sure to incorporate regular breaks, exercise, and relaxation activities into your routine to avoid burnout.

Ultimately, the decision to continue pursuing the UPSC exams or to take up a job depends on your individual circumstances and priorities. Remember that setbacks are a natural part of any journey, and it's okay to reassess your goals and make adjustments along the way. Trust yourself and have confidence in your abilities to overcome challenges and achieve success, whichever path you choose.

..Read more

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Ramalingam

Ramalingam Kalirajan  |7279 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on Dec 18, 2024

Asked by Anonymous - Dec 17, 2024Hindi
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Question on Financial Planning: I am 53 years old and took retirement in 2023, a year ago. I have a corpus of approximately ?20 crores allocated as follows: ?6.5 crores in stocks ?5 crores in mutual funds ?5 crores in debt instruments ?2 crores in gold ?1.8 crores in a savings bank account** (to cover the next 12 years of household expenses). My monthly expenses are approximately ?1 lakh, and I receive: ?70,000 per month as house rent (?8.4 lakhs annually) ?10 lakhs annually as dividends from stocks. I have allocated ?5 crores in debt instruments to fund the higher education of my two sons (expenses will arise after 1 year and after 4 years). My goal is to grow my equity portfolio over the next 12 years since I do not depend on it for my current monthly expenses. Additionally: I have adequate health insurance. I own properties worth ?7.5 crores. I have no liabilities. My query: Is my financial planning on track, or do you see any areas for improvement or correction? I am open to suggestions for optimizing my investments, especially considering my goals of equity growth, funding my sons' education, and maintaining a comfortable retirement.
Ans: Your financial planning reflects strong foresight and effective resource allocation. With a corpus of Rs. 20 crores and no liabilities, your position is financially stable. Let us evaluate your financial setup from a 360-degree perspective and suggest areas for optimisation.

Assessment of Current Allocations
Equity Portfolio: Stocks (Rs. 6.5 Crores)
Your equity allocation reflects a growth-oriented approach.
A diversified stock portfolio is ideal for long-term growth.
Ensure the portfolio is well-balanced across sectors and market capitalisations.
Mutual Funds (Rs. 5 Crores)
Mutual funds provide diversification and professional management.
Review the fund categories to maintain a mix of large-cap, mid-cap, and flexi-cap funds.
Regular performance reviews are essential to optimise returns.
Debt Instruments (Rs. 5 Crores)
Allocating Rs. 5 crores for your sons’ education is prudent.
Ensure the debt investments are in low-risk instruments like bonds or fixed deposits.
Laddering maturity dates aligns well with your sons’ educational timelines.
Gold (Rs. 2 Crores)
Gold provides stability during market volatility.
Keep it as a hedge against inflation but avoid further allocation to this asset.
Savings Account (Rs. 1.8 Crores)
Holding Rs. 1.8 crores for 12 years of expenses is a cautious approach.
Move a part of this amount into liquid funds for better returns with liquidity.
Income and Monthly Expenses
Rental Income (Rs. 8.4 Lakhs Annually)
Rental income covers 70% of your monthly expenses.
Ensure the rental property is well-maintained to sustain consistent returns.
Dividends (Rs. 10 Lakhs Annually)
Dividend income provides an additional safety net.
Reinvest surplus dividends into mutual funds for compounded growth.
Monthly Expenses (Rs. 1 Lakh)
Your monthly expenses are comfortably managed.
Maintain a contingency fund of at least Rs. 20-25 lakhs for unexpected costs.
Recommendations for Optimising Equity Portfolio
Focus on Quality Stocks

Prioritise stocks of companies with strong fundamentals and consistent earnings.
Avoid overexposure to any single sector or company.
Systematic Equity Investments

Add to your equity portfolio gradually through Systematic Transfer Plans (STPs).
This reduces market timing risks.
Regular Portfolio Review

Review the equity portfolio annually.
Exit underperforming stocks and reallocate to high-growth opportunities.
Enhancing Mutual Fund Returns
Diversify Fund Selection

Include funds with different strategies to maximise returns.
A Certified Financial Planner can help identify high-performing funds.
Avoid Direct Mutual Funds

Regular funds offer advisory support for timely rebalancing.
This helps navigate market volatility effectively.
Utilise Tax-Efficient Withdrawals

Plan withdrawals systematically to reduce tax liability on capital gains.
Debt Instruments: Securing Educational Goals
Low-Risk Instruments for Predictable Returns

Allocate funds to secure options like government bonds, fixed deposits, or debt mutual funds.
Match the maturity timelines with educational milestones.
Avoid Premature Withdrawals

Breaking long-term debt investments can reduce returns.
Use other funds for emergencies to protect this allocation.
Optimising Gold Allocation
Retain as a Hedge

Gold should form no more than 10% of your portfolio.
Avoid further investments unless there are specific requirements.
Leverage Gold for Liquidity

Gold-backed loans can provide temporary liquidity if needed.
Savings Account Allocation
Move Funds to Liquid Investments

Savings account returns are suboptimal for such a large balance.
Move funds into liquid funds for higher returns and liquidity.
Emergency Fund Segregation

Retain Rs. 50 lakhs for immediate emergencies.
Invest the rest in short-term debt instruments or liquid funds.
Maintaining a Comfortable Retirement
Healthcare Planning

Ensure health insurance policies are adequate for critical illnesses.
Maintain a separate corpus for medical emergencies.
Contingency Fund Maintenance

Keep Rs. 20-25 lakhs readily accessible for unforeseen expenses.
Review this fund periodically to adjust for inflation.
Estate Planning

Draft a will to avoid disputes and ensure smooth wealth transfer.
Assign nominees for all investments and properties.
Taxation Considerations
Equity Taxation

Long-term capital gains (LTCG) above Rs. 1.25 lakhs are taxed at 12.5%.
Short-term capital gains (STCG) are taxed at 20%.
Debt Taxation

Debt instruments are taxed as per your income tax slab.
Choose tax-efficient options like tax-free bonds if needed.
Dividend Income

Dividends are taxed at your marginal income tax rate.
Reinvest dividends for tax-efficient growth.
Final Insights
Your financial plan is well-structured and aligns with your goals. However, optimising your equity and mutual fund allocations can enhance growth potential. Move idle funds from your savings account into liquid investments for better returns. Review and rebalance your portfolio periodically with the help of a Certified Financial Planner. Your current strategy provides a secure foundation for funding education, retirement, and wealth growth.

Best Regards,

K. Ramalingam, MBA, CFP,

Chief Financial Planner,

www.holisticinvestment.in
https://www.youtube.com/@HolisticInvestment

...Read more

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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