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Aashish

Aashish Sood  | Answer  |Ask -

CAT, Management Expert - Answered on Mar 08, 2024

Aashish Sood is an IIM-Lucknow alumnus who has been teaching maths and quantitative aptitude to MBA aspirants for over a decade.
He also mentors management student hopefuls for the group discussion and personal interview rounds that follow competitive examinations.
He has appeared for CAT seven times since 2016 and scored in the 99.9 percentile.
Sood has 16 years of work experience as a management consultant, strategy consultant and research associate.... more
Utkal Question by Utkal on Jan 30, 2024Hindi
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Career

Dear sir I am 40 yrs and completed my graduation in BCA. Presently working in a manufacturing company as an assistant administrator. I have started my career in 2007 but my problem is I have not worked any company long period. So that where I go I am treated as an fresher. So my remuneration not up to market. Please guide or suggestions me any course or anything, where I can escalate my professional life

Ans: The big question here is "Why not a long career at any one company?"

Secondly, the long career is not really a requirement. When you switch, you seem to be lacking in negotiation skills. May be you would want to on that aspect as well!

Would you mind sharing what all courses etc have you done so far?
Asked on - Mar 08, 2024 | Not Answered yet
Apart from BCA in graduation no other courses done.

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Abhishek

Abhishek Shah  | Answer  |Ask -

HR Expert - Answered on Jun 23, 2023

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Career
Hi, I am working in one of the shipping line MNC, i handling there accounts receivable since past 6 years, before this, i was with airlines company, was handling there account payable profile. though its been 13 years of experince, i am not getting any growth and feeling like i am going no where in career. please guide me what option and suitable courses which will help me in my prifessional growth.
Ans: Hello Mahesh,

I understand that despite your 13 years of experience in handling accounts receivable and accounts payable, you are currently feeling stagnant and seeking guidance on suitable courses and options for professional growth. I can offer you some suggestions to help you progress in your career.

Continuous Learning: In the ever-evolving world of finance and accounting, it is crucial to stay updated with the latest trends, regulations, and technologies. Consider enrolling in courses or pursuing certifications that enhance your knowledge in areas such as financial analysis, risk management, data analytics, or international accounting standards. These will not only expand your skill set but also make you more valuable to your current and future employers.

Specialization: Assess your strengths and interests within the accounting field and consider specializing in a particular area. For example, you could focus on tax accounting, auditing, financial planning and analysis, or managerial accounting. Specializing can help you stand out from the competition and open up new opportunities for career advancement.

Networking and Professional Associations: Engage with professional associations related to accounting and finance, both locally and internationally. Attend conferences, seminars, and networking events to meet professionals in your field and expand your professional network. Building connections can lead to new career prospects, mentorship opportunities, and valuable insights from industry experts.

Seek Internal Opportunities: Explore potential growth opportunities within your current organization. Speak with your supervisors or human resources department about your aspirations for career progression. Express your interest in taking on additional responsibilities, cross-functional projects, or managerial roles. Taking initiative and demonstrating your ambition can lead to internal promotions or transfers to more challenging positions.

Consider Advanced Degrees: Depending on your long-term career goals, you may consider pursuing an advanced degree such as a Master's in Business Administration (MBA), a Master's in Finance, or a Certified Public Accountant (CPA) qualification. These qualifications can enhance your knowledge, provide a broader business perspective, and potentially increase your earning potential.

Personal Development: Besides professional qualifications, do not overlook the importance of personal development. Enhance your leadership, communication, and interpersonal skills, as these qualities are highly valued in managerial positions. Consider attending workshops or seminars that focus on soft skills development.

Remember that professional growth is a continuous journey, and it requires a proactive approach. Assess your goals, skills, and interests regularly to ensure you are heading in the right direction. It is also crucial to maintain a positive attitude, embrace challenges, and stay motivated throughout your career.

I hope these suggestions provide you with a starting point for your professional growth. Wishing you the very best in your career endeavors.

Best regards,
Abhishek Shah

..Read more

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Mutual Funds, Financial Planning Expert - Answered on Nov 05, 2024

Asked by Anonymous - Nov 05, 2024
Money
Sir I am 47 years old and want to retire in next 2-3 years. My portfolio is as under FD-22 L MF-22 L. ( SIP of 33000 running) Gold--10 L EPF--24 L and App Gratuity -10 L Equity--10 L Rental Income -25000 per month from 80 Lacs flat. ( No loan pending now) 1 cr term plan and 10 l mediclaim running Parental House -2.5 cr and Land -2.5 cr. My son is studying in second year of engineering. And my monthly hone expense is not more than 30000-35000 per month. Can I afford to retire ?
Ans: It’s commendable that you've accumulated a diverse portfolio with a clear retirement goal. Let's evaluate if your current portfolio aligns with a secure retirement.

Portfolio Review and Income Assessment
Based on your retirement aspirations, let’s consider each component of your portfolio and its potential to generate sustainable income:

Fixed Deposits (FD): Rs 22 lakh
FD interest can serve as a steady income source, though it typically yields lower returns, which may not keep up with inflation over the long term.

Mutual Funds (MF): Rs 22 lakh, with a SIP of Rs 33,000
MFs offer potential growth and help combat inflation. Continuing your SIPs could grow this corpus further, providing higher returns than fixed-income sources.

Gold: Rs 10 lakh
Gold adds stability and can be liquidated if needed. However, it might not be the best primary income source.

Employee Provident Fund (EPF): Rs 24 lakh and Gratuity Approx Rs 10 lakh
EPF and gratuity offer safe post-retirement funds. When you withdraw, they can be used as a source of regular income or reinvested for returns.

Equity Investments: Rs 10 lakh
Your equity investments add growth potential. Over time, this can be a crucial source to combat inflation.

Rental Income: Rs 25,000 per month
Rental income provides a consistent cash flow, covering a large portion of your monthly expenses. This income will be valuable post-retirement to meet regular needs.

Expense and Income Projection
With monthly expenses at Rs 30,000–35,000, and rental income already covering most of these costs, your current lifestyle is well supported. However, to retire comfortably, a buffer for healthcare, travel, and inflation is necessary.

Strategy for Retirement Readiness
Based on your assets and expected needs, here’s a recommended approach to secure a steady retirement income:

Mutual Fund Strategy
Continuing your SIPs for the next 2-3 years will help grow your corpus further. Consider moving part of the equity-based mutual funds into debt funds close to retirement to reduce risk while generating returns.

Systematic Withdrawal Plan (SWP)
At retirement, you can initiate an SWP from your mutual fund corpus, providing a steady income. This strategy allows capital appreciation with controlled withdrawals, reducing the risk of prematurely depleting your funds.

Fixed Deposit Laddering
To maximise interest rates and ensure liquidity, consider a laddering strategy with your FDs. This will help meet emergency needs and take advantage of better rates.

Rental Income
Your rental income of Rs 25,000 is a reliable source. To protect it, ensure the property remains well-maintained and consider lease renewals with trusted tenants to maintain stability.

Contingency for Healthcare and Son’s Education
Health Insurance: Rs 10 lakh
Assess your current health cover, especially considering rising medical costs. A top-up or super top-up plan could add an extra layer of protection.

Son’s Education
Your son’s education may require additional funding. Any shortfall could be met by partial liquidation of non-core assets, like gold or FDs, if needed.

Estate and Legacy Planning
Your parental house and land provide substantial long-term security. Though not income-generating immediately, they offer future flexibility if liquidated or rented.

Final Insights
Your assets, income sources, and low monthly expenses indicate a strong readiness for retirement. With minor adjustments for healthcare and education, you can comfortably meet your goals. Continuing your current SIPs for the next few years and optimising your FD and MF corpus will help sustain your income post-retirement.

Best Regards,

K. Ramalingam, MBA, CFP,
Chief Financial Planner
www.holisticinvestment.in
https://www.youtube.com/@HolisticInvestment

...Read more

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