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40-Year-Old with Family of 6 Needs Career Advice After Job Loss

Prof Suvasish Mukhopadhyay |297 Answers |Ask -Follow

Career Counsellor - Answered on Jan 10, 2025

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

Asked by Anonymous - Jan 10, 2025Hindi

Career

I am a 40 year old with a family of 6 . I am 12th grade pass with good knowledge of computers. i have been working in a manufacturing unit for last 20 years but the company has closed business recently. know I am jobless at the most crucial stage of my life . What do i do know ?

Ans: Since your qualification is not adequate it is really difficult to explore other sectors. You are having experience in manufacturing sector. So I would suggest you to try in other manufacturing sectors. Because practical knowledge doesn't have a substitute. How your knowledge of computer can be used? You can take some tuitions for teaching the basics of Computers. Best of luck. Just follow me. May God Bless You. Professor..........................................:)

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Sir , i have lost my job and do not have any savings left to run the family . i am 60 years old , what kind of job can i search for. kindly advice

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Asked by Anonymous - Apr 29, 2024Hindi

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Hello. I am a 35 year old widow. I have completed B.E and worked in TCS for 2 yrs. After marriage I had a ten long yrs of career break. Due to unexpected demise of my husband, I am strangled with my 6 yr old daughter. I don't know how to look for a job. I am not interested in software jobs. Please guide me. How to proceed. I want to live a respectable life.

Ans: Hi!!

It is very sad that you lost your life partner at such a young age. I know it is going to be tough for sometime. What I do know is that, because you are an Engineer, you have work experience with TCS, it is not going to be as tough as it seems and it will take sometime but you will be earning and living a respectable life!! Take informed decisions and start taking one step at a time towards your goal of a respectable life.

I am a little troubled that you said, "I am strangled with a 6 yr old daughter". You gave birth to her, she is your responsibility, she is totally dependent on you. You do have your daughter as your mate on this journey of life. Children are always a blessing, don't believe anyone who says otherwise. Cherish her and love her. Let the bond between the mother and daughter grow to be beautiful one. After the death of a spouse, people around have this tendency to say things that has an effect on you, just trust yourself, you are 35 yrs old, believe in yourself. You are mother and motherhood gives you a lot of strength, tap into it and move ahead in life for the sake of the little one.

Now to look into building your career, earning money and living a respectable life, here are some options to look into..

1. check with TCS if you can go back, lots of these big companies love it if their previous employees come back to work with them. Look around for a senior, a friend who can suggest the courses you can do now, to get back into the job market
2. you said you don't want to get into software, how about HR or teaching?
3. take a hard look at all your strengths and weaknesses, what you would like to do, get skilled in that area and start looking for the jobs in that area
4. create a goal card, let this always be in front of you. Have goals for every area of your life

Take care of your mental, emotional and physical health!! Look for people you uplift you and give you strength. Stay away from negative people.

Loads of prayers and blessings to both you and your daughter!!

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Question by Mukesh - Aug 30, 2024Hindi

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DEAR SIR I AM AT 50 AGE LOST MY JOB AND FINDING IT VERY DIFFICULT TO GET A NEW JOB PLS GUIDE WHAT SHALL I DO

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Insurance, Stocks, MF, PF Expert - Answered on Jan 16, 2025

Asked by Anonymous - Jan 16, 2025Hindi

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Hello Advait, hope you are doing well. Can we invest now in relaxo at 577 level.

Ans: Hello;

Outlook for Relaxo in the short to medium term looks muted due to intense competition from the unorganised sector hence pressure on sales as well as margins.

Therefore my view would be to explore better options.

Alternatively you may also seek a advice on this stock from a sebi registered research analyst.

Happy Investing;

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Asked by Anonymous - Jan 16, 2025Hindi

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I am 31 years old and have been married for 6 years. My relatives keep pressuring me and scaring me, saying that I haven’t had a child yet and that I should have one now. However, we are not financially prepared at the moment. We have just bought a house, and the loans have recently started, which exhausted all our savings for the down payment. My husband’s family had a very weak financial background. They had nothing, and he struggled a lot, even living in someone else’s house to complete his education. Only he knows how hard it was. Now, his salary has improved, and I am also employed. Additionally, we are entirely responsible for my in-laws, as my husband’s elder brother neither got married nor provides any support for the parents. We are under a lot of pressure right now, but everyone just keeps asking us when we are going to have a child. I’ve seen how my husband struggled with limited finances when the family was financially weak, and I don’t want to show such hardships to our children. On top of that, I am overweight and focused on losing weight to ensure I can be healthy. I feel very stressed and confused, but my husband is fully supportive of me.

Ans: Dear Anonymous,
First of all, I am really glad that you are being so responsible and practical, rather than making such life-changing decisions based on emotions alone. Second, don't worry about other's opinions; they might have your best interest at heart, but this should be solely your decision. You should have a child only when you are ready to have one- both mentally, physically, and financially. And no hard and fast rule says you should have a child within a certain year of your marriage. Two people in a marriage is a whole family too; a child can add to the joy if that is what you want. But if not, your family is still complete. Please remember that.

Take care of your health and your mind. If you are worried about your age, you can always go see a doctor and see how many years you can delay this. Rushing is never a good idea.

Best Wishes.

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Question by Baldev - Jan 16, 2025Hindi

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Sir I have Jeeva saral policy which is about to nearing its maturity in July 2025. I paid it's premium regularly by quarterly mode of payment from last 16 years. How much benefit l will get.

Ans: Hello;

You may expect a XIRR of 5.5-6% or even lower on premiums invested in this policy.

If you get better then this it would be great.

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Asked by Anonymous - Jan 16, 2025Hindi

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I'm a bsc botany graduate and now got admission and doing msc. I'm in first year and just gave my 1st semester exam but somehow now i feel i can't do botany at all its not just in my interest. I can't continue further with it as i dont think there's much scope too. I have interest in fields like geography or law related subjects. I'll be attempting for upsc too this year and also had a second thought to go for Law. Should i drop the msc? ....I've cried a lot thinking about that and its affecting my mental health too.

Ans: Hello dear.
First I would like to suggest that, in any way, you first complete your M.Sc. (Botnay) either with interest or without interest. Who told you that there is less scope in Botany? There are a lot of career options after M.Sc. (Botany).It is good that you are interested in geography and are attempting UPSC this year. Dear, along with your M.Sc. you can easily appear for UPSC and do the study of Geography, after completing your M.Sc. you can take the admission to Law course. Many people do the law even after their retirement or in due course of their service. There is no need to cry about the things which happened to you.
Suggestions: (1) Completer M.Sc. (Botany) by any means (2) Space-time to read Geography and UPSC Syllabus (3) Develop your overall personality and try to engage in some extracurricular activities of your interest.
Best of luck for your upcoming bright future.

If satisfied, please like and follow me.
If dissatisfied with the reply, please ask again without hesitation.
Thanks.

Radheshyam

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Insurance, Stocks, MF, PF Expert - Answered on Jan 16, 2025

Question by arpit - Jan 14, 2025Hindi

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Hi, I am a new investor 41 yrs old, so far10L invested in various MF categories. Here are list of investments through SIP’sand lumpsum: 20K in Nippon Large Cap, 15K in Quant Mid cap 15K in ICICI Pru multi asset 15K in Parag Parekh flexi cap 15K in Edleweiss small cap 1L lumpsum in Motilal Oswal mid small Healthcare index fund 2L lumpsum in ICICI Pru all season bond fund 12.5K/month in PPF Can I achieve my retirement goals, both child education (9 yrs old & 5 months old), marriage etc. and is there a need to balance my portfolio. Also is there any need me to consider in other investments options.

Ans: Hello;

Your current lumpsum and monthly investment into mutual funds may be adequate to meet the education and marriage requirement of your kids. (~2 Cr)

Apart from that it may provide a retirement corpus (~5 Cr).

If you have a female kid invest in SSY(12.5 K per month) since the interest is more then PPF and other benefits are similar only with different withdrawal stage.

Also you may supplement your retirement planning through NPS (~20 K per month).

Review performance of your funds annually with reference to the category average and benchmark.

Happy Investing;
X: @mars_invest

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Asked by Anonymous - Jan 11, 2025Hindi

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I am 48 , Income: Take home 2.5 L / pm , PPF amount 47 L , NPS - 20 L , FD- 37 L , Life Insurance - 80 L, Expenses 75 k /pm . Please advice me a plan for 2 L income / pm from 2036.

Ans: Hello;

You may need a corpus of 6 Cr to generate a post-tax monthly income of 2 L+. (Assuming 6% annuity rate and 30% tax)

Assuming your existing investment stay and continue till 2035(PPF, NPS, FD) it may grow into a cumulative corpus of 2.93 Cr.(12.5 K pm into PPF+47 L @ 6.9%, 20 K pm into NPS+20 L @ 8%, FD of 37 L @ 7.4%)

So you need to fill the gap of (6-2.93=3.07 Cr) through monthly sip.

You may begin with a monthly sip of 1 L into a combination of pure equity mutual funds and step it up each year by a minimum of 3% to reach your target in 11 years.

Here the assumption is that you have term life insurance of 80 L with no maturity value.

If it's an endowment policy then assuming maturity value of 80 L you may attain your target with a flat monthly sip of 83 K into a combination of pure equity mutual funds.

Make sure to move your gains from equity funds into liquid funds as you approach closer to your retirement to avoid it getting affected by market volatility.

Happy Investing;
X: @mars_invest

Prof Suvasish Mukhopadhyay |297 Answers |Ask -Follow

Career Counsellor - Answered on Jan 16, 2025

Question by vikas - Jan 15, 2025Hindi

Career

Hello sir I am working in psb as an officer and want to switch but too confuse...

Ans: First tell me why you want to switch over to other organization? Then I can guide you. Best of luck. Just follow me. May God Bless You. Professor.....................................:)

Prof Suvasish Mukhopadhyay |297 Answers |Ask -Follow

Career Counsellor - Answered on Jan 16, 2025

Question by Heman - Jan 01, 2025Hindi

Career

Sir, Happy new year 2025, how much SAT score required to get ICT or MnC branch in DA-IICT, for NRI student?

Ans: To be admitted in the (ICT) or (MnC) branches at DAIICT as an NRI student, you need a minimum SAT score of 1068 as per the previous record. Best of luck. Just follow me. May God Bless You. Professor.....................................:)

Prof Suvasish Mukhopadhyay |297 Answers |Ask -Follow

Career Counsellor - Answered on Jan 16, 2025

Asked by Anonymous - Dec 22, 2024Hindi

Career

Sir which college should I choose btech biotechnology in andhra university or btech food technology in jntc kalikiri

Ans: Search in net. That can give you the best anser. Best of luck. Just follow me. May God Bless You. Professor.....................................:)

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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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