Is It Too Late at 32 to Enroll in Engineering College and Find a Job?

Ans: Hello

Please search for opportunities on various freelancing and remote working websites

All the best

Ans: Hello

As you want to work, suggest you keep exploring opportunities.

Since you have achieved financial freedom, you may consider freelance assignments or even project based assignments, this will ensure you are working and at the same time bring varied experiences.

All the best

Ans: Hello

Here are some ways to get remote jobs
- Search on the various freelancing websites that offer remote jobs
- Talk to friends and family
- Talk to your associates in professional world.

All the best

Ans: Hello

Well it all depends...upon

- Your current age
- Your present responsibilities: family, kids education
- Your current financial corpus
- Your priorities: Career growth, stability

Basis above you may assess and evaluate.

Ans: Dear Mr.Mrutunjaya

Congratulations on your long stint.

I would suggest instead of saying things that would be please the interviewer, state things that you believe in.

It could be any or all of the following.

1. Explore newer opportunities
2. Expand job role
3. Take up challenging assignments
4. Come out of the comfort zone

Ans: Hello;

You must close you home loan(67 L) and car loan(15.5 L) in full from 3.3 Cr of overall savings.

That will leave you with a net savings of 2.475 Cr.

Keep 7.5 L as emergency fund in your saving account.

Keep 20 L in a liquid fund meant for your daughter's higher education. Gold(20 L) and Silver(5 L) holding may be used here if required.

Now your net savings is around 2.2 Cr. Buy an immediate annuity for this sum from an insurance company. Assuming 6% annuity rate you may expect a monthly income of 1 L post tax.

This will cover all your expenses at new residence and still leave something more in hand, which may reinvested in hybrid mutual funds to boost annuity income after 10 years.

All the best for your new venture.

Happy Investing;
X: @mars_invest

Ans: Hello;

1. You have 2 options of long term capital gain tax working because you have old land.
a.200-1=199 Lakhs on this a tax of 12.5% i.e.24.875 Lakhs
b.200-x=xyz Lakhs on this a tax of 20%
Where "x" is the inflation indexed cost of acquisition
You may consult a CA for calculating "x" for you and also recommending ways in which you can avoid payment of this tax based on provisions of income tax act.

If you can save on entire tax payment by reinvesting the capital gain from land sale into real estate then it makes sense to invest in real estate. You may rent out part of your real estate to earn rental income.

You may do a monthly sip of `90 K in an equity savings type mutual fund with low to moderate risk for 7 years.

It may grow into a sum of 1 Cr after 7 years assuming modest return of 9%. It may be utilised to fund higher education of your kid and partially funding your retirement income in addition to rental income.

Best Wishes;
X: @mars_invest

Ans: Hello;

You have done big injustice to yourself based on one isolated instance. That is the reason why investor risk assessment is so crucial before suggesting particular investment product to him.

The corpus you have right now is not sufficient to generate monthly income to cover your regular expenses.

You need to think about higher education expenses for your son too.

If you do a monthly sip investment of ~ 80-90 K in a equity savings type mutual fund with low to moderate risk rating for 7 years you may have a corpus of around 90-100 Lacs in 7 years, assuming 9% return.

It will help to build corpus for your kid's higher education plus support your retirement corpus.

Happy Investing;
X: @mars_invest

Ans: Hello;

It is a unit linked pension plan with mandatory 5 year lock-in.

Even at maturity you can commute only 60% of the fund value and necessarily have to buy annuity for the balance 40%.

Best Wishes;
X: @mars_invest