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R P Yadav  |210 Answers  |Ask -

HR, Workspace Expert - Answered on Nov 30, 2023

R P Yadav is the founder, chairman and managing director of Genius Consultants Limited, a 30-year-old human resources solutions company.
Over the years, he has been the recipient of numerous awards including the Lifetime Achievement Award from World HR Congress and HR Person Of The Year from Public Relations Council of India.
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Asked by Anonymous - Nov 13, 2023Translate

I am 58 years and have 35 years of sales experience. Due to pandemic list my job and jot getting any job Do not have any savings whatsoever and depending on daughters salary for running expenses. Wife is also 58 and has no working experience ever Life is getting tough day by day and mind is clouded as there's nothing to do Suggest any remedies

Ans: Hi,
You may try for a job. At this age, start with any distributor/ dealer and subsequently when you have a job you may apply in medium and larger companies.

You may like to see similar questions and answers below


Anu Krishna  |725 Answers  |Ask -

Relationships Expert, Mind Coach - Answered on Oct 06, 2020

Hi Anu, I am 42 yrs old male. I am a Public Health Professional and work in an International NGO on health issues based in Delhi. I have ageing parents (both suffering from cardiac illness, diabetes and hypertension) which are based in Mumbai, my immediate family (wife and two kids) stays with my parents as there is no one else to take care of them. My parents especially my father is adamant that he doesn’t want to leave his house and stay with me in Delhi. As a result my immediate family is also forced to stay in Mumbai taking care of my parents. My wife is very supportive, however as this situation is like this since last 4-5 years and we are staying in two different cities, it has now taking stall at emotionally and physically on both of us (me, my wife and my two kids). I am desperately searching for job in Mumbai, however in my sector there are not very good opportunities in Mumbai. I tried my hands in two there places for job, however to my misfortune things didnt work out. I am a mid-senior level professional and have reached this position after a lot of hard work, however the stress has started affecting my performance and overall reputation in the organization. Hence there is constant stress of performance, ability to deliver, overall situation has lowered my confidence level affecting my work further. Dissatisfied with my work, my supervisor has already started sidelining me. I am desperately started thinking of leaving the job, however financial condition doesn’t allow me to do that. With COVID-19 pandemic things has worsened, as I am stuck in Delhi even in lockdown, leaving my parents and my wife struggling in Mumbai amidst the lockdown. Even now cant visit them as stressed, whether i will carry risk of infection to my parents, wife and kids, Hence staying away, it’s been 8 months that have not met them. Not sure, how to handle this. One way I thought as looking out opportunities in Mumbai, even if at junior level, However i am trying for that, but not getting suitable opportunities. Not sure, how to handle the pressures from family (Parents don't want to shift, wife is not ready to stay away and has given time till March, there constant pressure of performance). Not sure, what to do.
Ans: Dear S, surely, this pandemic has put many at inconvenience in different ways for each of us across the planet.

What we can do is make the best of what is at this point in time. It indeed is hard to be away from family at a time like this.

I know parents in some families do find it hard adjusting to a new city at their age and having your wife care for them as logical as the decision was has begun to take a toll on the family as a whole.

It is an amazing feeling to come back home to a family after a hard day’s work where they wait with love, care and support.

Either a job in Mumbai or moving your family to Delhi are the options as it is evident that family and their love is important for you to have the security and stability.

Having said this, Lockdown 5.0 begins soon, I think fearlessly take a call, visit your family.

If you think you want to isolate yourself in the fear of COVID-10, do so…but more that all of this, do sit down as a family, COMMUNICATE, talk to your parents about how this is affecting you and obviously they care and love you enough to hear your side of the story.

And finally, do what needs to be done to make sure that your parents understand and are taken care of and your wife and children are with you as a family.

Happy decision making and be happy!


Anu Krishna  |725 Answers  |Ask -

Relationships Expert, Mind Coach - Answered on Oct 27, 2020

Dear mam, I am 39. In the past few months I have been under financial stress. My salary was reduced by 25% since April 2020 and wife’s salary dropped to 20% of my salary. My EMIs are 70% of total income. I took moratorium. But, now moratorium ended and I am not able to manage the finances Also, I am not able to find a new job. Without any help, everyone is facing a financial crisis. I am not able to cope up . What should I do?
Ans: Dear RS, I empathize with your situation as this is something that seems like anyone’s story these days, given the pandemic.

Lot of uncertainties and much to think about especially with holding onto work and doing the best that we can.

What I could start of by saying: Look deep down at your expenses statement for the past 3 months. Look at what is necessary, what is not and what is a luxury.

Straightaway keep the luxury aside and focus on what’s needed and the best offer you can get on these by buying them in bulk and storing; like groceries or availing of festive offers and bargains.

Next what is a mandatory outgoing like Life Insurance policy premium, EMIs etc and how you can spread them over till the next financial year end.

Plan for the next quarter and even if you just break even, I think it will keep you afloat and give you the confidence that things are getting better.

The key to financial planning is to cut down expenses that we are not even aware of which we indulge in when money is in surplus.

That amounts to a huge chunk and every penny saved is a penny earned. 

Of course, if the bills are mounting and your EMIs have begun to outweigh your earnings, you might be forced into making some decisions; but remember do all you can before reaching that point of decision.

Do not be disheartened as phases like these don’t last forever and just like we look for a life jacket to save ourselves from drowning, we do know that that storm is temporary. Similarly, throw a life jacket on to tide this one and the storm shall pass.

Happy Saving. Take care and all the best.


Anu Krishna  |725 Answers  |Ask -

Relationships Expert, Mind Coach - Answered on Mar 29, 2023

Maam sir good morn.I m K.S .i am.the sole bread earner of my.family .i m 52 and do.not have a job. I m not a spend thrift but due to lot of loans i have taken for education etc i m totally stressed up. I.get depressed and do not have the motivation to move ahead in life. I want to clear up all my dues and i fight day in and day out to find a job but to.no success. Finance are getting.lesser.. I m on the verge of breakdown. Plz help.
Ans: Dear KS,
First things first. A lot of decisions have gone wrong. It cannot be erased, but certainly you must find a way of recovering from it.
Yes, it is highly disheartening, but once you decide that you want to be in a better place, you have to take certain actions to reach that better place.
So, time to quit being upset and taking firm actions on what to do next to get out of this situation that you are in.
Seek the help of someone within your family or friends circle who is strong with their finances and managing their monies well. Of course, they must be someone you trust as well. Share everything with them (you need the help, so kindly be truthful and honest with them).
Let them put together a plan of action that manages your existing financial resources and inbound channels and match that with all the payments and debts.
Allow them to 'advise' you as you need this strong advice right now. Discuss what's possible and what's not and they will come up with something that is close to perfect.
Once, you start with the first small baby step. things start to look up. Even clearing a small debt will take a load off your chest. So, get into that action mode NOW. And yes, do promise yourself that this situation is teaching you a lesson on how to be financially prudent and that you will learn from it.

Best wishes and look bright and happy NOW!
Latest Questions

Moneywize   |59 Answers  |Ask -

Financial Planner - Answered on Feb 25, 2024

Asked by Anonymous - Feb 24, 2024Translate
I will be retiring in October 2024 and expecting a retirement corpus of Rs 80 lakh. I would be spending 60 per cent of this amount on my son’s medical admission and studies. How should I invest the rest in different sectors to earn monthly income of nearly about 40,000?
Ans: Given your retirement corpus of Rs 80 lakh and your plan to allocate 60% of it towards your son's medical admission and studies, which amounts to Rs 48 lakh, you'll have Rs 32 lakh remaining for investment. To generate a monthly income of approximately Rs 40,000, you'll need to carefully plan your investment strategy. Here's a suggested approach:

1. Assess Your Risk Tolerance: Before investing, consider your risk tolerance, investment horizon, and financial goals. Since you're retiring soon and seeking a regular monthly income, it's advisable to focus on relatively stable and income-generating investment options.

2. Allocate Funds: With Rs 32 lakh available for investment, you can allocate the amount across different investment instruments to achieve diversification and manage risk.

3 Income-Generating Investments: To generate a monthly income of Rs 40,000, you'll need investments that offer regular payouts. Here are some options to consider:

a. Senior Citizen Savings Scheme (SCSS): This government-backed savings scheme offers quarterly interest payouts. You can invest up to Rs 15 lakh individually and earn regular income at a fixed interest rate, currently around 7.4% per annum.

b. Post Office Monthly Income Scheme (POMIS): Another government-backed scheme that provides monthly income. The maximum investment limit is Rs 4.5 lakh for an individual account and Rs 9 lakh for a joint account. The current interest rate is around 6.6% per annum.

c. Fixed Deposits (FDs): Consider investing a portion of your corpus in fixed deposits offered by banks or financial institutions. Opt for monthly interest payout FDs to generate regular income.

d. Debt Mutual Funds: Invest a portion in debt mutual funds that focus on generating steady income with relatively lower risk compared to equity funds. Choose funds with a track record of consistent returns and low expense ratios.

4. Systematic Withdrawal Plan (SWP): For investments in mutual funds or other growth-oriented instruments, consider setting up a systematic withdrawal plan. SWP allows you to withdraw a fixed amount regularly, which can serve as your monthly income.

5. Emergency Fund: Set aside a portion of your corpus as an emergency fund to cover unexpected expenses or contingencies. This fund should be easily accessible and parked in liquid or low-risk instruments like savings accounts or liquid funds.

6. Review and Adjust: Regularly review your investment portfolio to ensure it remains aligned with your financial goals and income requirements. Adjust your asset allocation and investment strategy as needed based on changing market conditions and personal circumstances.

It's crucial to consult with a financial advisor or planner who can provide personalised advice based on your specific situation and goals. They can help you create a comprehensive retirement plan and investment strategy tailored to your needs, risk tolerance, and income requirements. Additionally, consider tax implications on your investment income and consult with a tax advisor to optimise your tax efficiency.
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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