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Should I Remarry? Seeking Advice as a 44-Year-Old Widower

Prof Suvasish

Prof Suvasish Mukhopadhyay  |341 Answers  |Ask -

Career Counsellor - Answered on Dec 29, 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
Asked by Anonymous - Oct 15, 2024Hindi
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Career

I am 44 widower, have a daughter and twins. Presently my parents are supporting us during the tough times. I have been advised to settle down again. I am unable to decide. Request you advice.

Ans: First let me know your qualification. Then I will be able to guide you. Best of luck. Just follow me. May God Bless You. Professor.................................:)
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I am 43 years old . My wife passed away 3 years ago. I have a 13 years old child.My relatives are asking me to get re-married. I am in confused state. Should I remarry or not?
Ans: Dear Anonymous,
I am so sorry for your loss; the passing on of a spouse almost feels like you live that grief everyday.
Your relatives are simply reacting to what they see as loneliness that you are living and that you can bring a Mother for a child.
Now, the choice of remarrying is a decision that solely must be made by you and your daughter. Relatives think for you but they do not know the consequences of such an important step.
Who is this person that you will be marrying?
Are you okay to take on another lady as your wife?
Will she be fine raising your daughter as her own?
What happens when the two of you decide to have a child of your own?
Is your daughter willing to see another person as a 'mother' figure?

If you choose not to remarry?
Being a girl, will you commit to caring for your daughter in more ways than a father?
How will you associate with her emotions as she goes through puberty and needs you to step in to do what her mother would have done for her at this time?
Do you see yourself going through life by yourself once your daughter leaves home to live her life?

These are just a few questions for you to get you started. You can add many more to both scenarios and play them out in your mind. The answer will emerge from within you.
But let me warn you, never ever remarry to temporarily erase your emptiness OR simply to yield to the demands of relatives to bring a new Mother for your daughter. This is a Disaster Zone and everyone will turn out unhappy.
Second shot at living or creating a life must be taken once you are aware that it will never be compared to your earlier life and that both the women are unique and will be respected by you and all as someone who brings forth new energy and wisdom.

Hope this helps. All the best to you!

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Hello Sir, this is Dhiraj DM, I am 48 year's old married with no kids, we have any flat worth 1. 5 cr given on rent around 50 lakhs of equity 20 lacs mutual funds we want to retire in next 3 years,please guide. We live in a metro no liability, we r into Gifting business now want to retire in next 3 years
Ans: Your retirement is just three years away. You have built a strong foundation with real estate, equity, and mutual funds. Now, the goal is to structure your investments for steady income, security, and long-term sustainability.

1. Assessing Your Current Financial Position
Flat Worth Rs. 1.5 Crore: This generates rental income, but liquidity is limited.
Equity Portfolio of Rs. 50 Lakh: Market-linked investments with potential for high returns but volatile.
Mutual Funds of Rs. 20 Lakh: Offers diversification and moderate risk exposure.
No Liabilities: This is a strong advantage for financial freedom.
Gifting Business: If planning to exit, ensure business-related finances are sorted before retirement.
2. Estimating Post-Retirement Income Needs
Calculate expected monthly expenses, including medical, travel, lifestyle, and emergency costs.
Factor in inflation, as expenses will rise over time.
Consider long-term costs such as medical care and home maintenance.
3. Structuring Retirement Income
Rental Income as a Fixed Source
Your flat generates rental income, which helps with stability.
Consider reinvesting this income for further growth.
Portfolio Rebalancing for Stability
Equity exposure is beneficial but risky close to retirement.
Shift some funds to low-risk instruments for safety.
Keep some allocation to equity to combat inflation.
Maintaining Liquidity for Emergencies
Create an emergency fund of at least 2 years' expenses in liquid assets.
Avoid relying solely on investments that require selling in volatile markets.
4. Health and Insurance Planning
Ensure comprehensive health insurance for both of you, at least Rs. 15-20 lakh coverage.
If you hold any old insurance policies with low returns, consider restructuring them.
Create a separate healthcare fund for long-term medical expenses.
5. Tax Efficiency in Retirement
Structure withdrawals smartly to reduce tax burden on capital gains.
Use tax-free instruments where applicable.
Rental income is taxable, so deduct maintenance expenses to lower tax outgo.
6. Planning Investments for Retirement Income
Avoid complete reliance on fixed-income instruments, as they may not beat inflation.
A mix of mutual funds, debt instruments, and systematic withdrawal plans (SWP) will ensure steady cash flow.
Keep some investments growth-oriented to sustain wealth over decades.
7. Estate and Legacy Planning
Prepare a clear will to ensure smooth asset transfer.
If you plan to donate or support causes, structure funds accordingly.
Finally
Ensure liquidity and stability in your investments.
Reduce risk in equity but keep exposure for growth.
Maintain a dedicated healthcare fund and strong insurance coverage.
Structure investments to minimise taxes and ensure steady income.
Plan legacy and succession to avoid future complications.
Would you like a detailed plan on how to allocate your investments for steady retirement income?

Best Regards,

K. Ramalingam, MBA, CFP

Chief Financial Planner

www.holisticinvestment.in

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

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