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Rohit

Rohit Gupta  |52 Answers  |Ask -

Edtech/Online Education Expert - Answered on Feb 07, 2024

Rohit Gupta is the co-founder and COO of College Vidya, a one-stop solution for making informed online education choices.
Rohit is a first-generation entrepreneur who currently leads the company’s marketing and operations department.
A TEDx speaker, he was honoured with the ET Leadership Excellence Award 2022 for his effort in helping shape the lives of over 90,000 students through his platform.
Rohit is passionate about the potential of online education and is on a mission to democratise access to quality education and career opportunities.
He completed his schooling from Scholars Home in Dehradun and holds a bachelor’s degree in commerce from Deshbandhu College, Delhi.
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Anath Question by Anath on Oct 31, 2023Hindi
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Hi,I am Anath Bandhu Gayen. I am 28 years old. My education qualification is higher secondary pass. I am working in a bank as a casual outsourcing staff (RBO-II,SBI Bank). I am learning English language. My income is 8000 rupees per month. I want to be rich what can I do?

Ans: Hello Anath, it's commendable that you're working hard and seeking ways to improve your situation. To increase your income and work towards financial prosperity, consider the following steps:

1. Education and Skills Development: Since you're already learning English, continue to invest in your education and skill development. Consider pursuing further education or vocational training programs that can enhance your qualifications and open up better job opportunities.

2. Career Advancement: Explore opportunities for career advancement within the banking sector. Work on gaining experience, acquiring new skills, and demonstrating your value to your employer. Seek promotions or apply for higher-paying positions within your organization or other banks.

3. Side Hustles and Additional Income Streams: Find ways to generate additional income outside your primary job. This could involve starting a small business, freelancing, or investing in income-generating assets such as stocks, real estate, or online businesses.

4. Financial Management: Practice sound financial management by wisely budgeting, saving, and investing. Learn about personal finance and wealth-building strategies to maximize earnings and long-term wealth.

5. Networking and Mentorship: Build relationships with successful individuals in your field or industry who can offer guidance, support, and mentorship. Networking can open doors to new opportunities and valuable connections.

Remember, achieving financial success takes time, dedication, and constancy. Stay focused on your goals, continue to learn and grow, and be proactive in pursuing opportunities for advancement and income growth.
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Ramalingam

Ramalingam Kalirajan  |1728 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on May 08, 2024

Asked by Anonymous - Apr 21, 2024Hindi
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I am 42 years of age . I have one child of 3 years old. My wife is home maker. I have my own flat 2 bhk in Mumbai. My annual salary is around 30 lakhs . I have savings of 60 lakhs at present. I will work till 60 years of age . My monthly expenses at present is 50000 Rs normal expenses. What should I do so that I have atleast 8 crores at age of 65 with my son earning by that age. I also want to have second baby after 2 years. Please guide.
Ans: It's commendable that you're proactively planning for your financial future, especially considering your long-term goals and growing family responsibilities. Here's a tailored plan to help you achieve your objectives:
1. Emergency Fund: Ensure you have an emergency fund equivalent to at least 6-12 months' worth of living expenses, stored in a liquid and easily accessible account.
2. Investment Strategy:
• Start SIPs in mutual funds with a focus on equity funds for higher returns over the long term. Aim for a diversified portfolio across large-cap, mid-cap, and small-cap funds to mitigate risks.
• Allocate a portion of your savings towards debt instruments like PPF, EPF, or debt mutual funds for stability and regular income.
• Consider investing in tax-saving instruments like ELSS funds to optimize tax benefits while building your wealth.
• Review and adjust your investment portfolio regularly based on changing market conditions and personal financial goals.
3. Real Estate: Since you already own a 2 BHK flat in Mumbai, consider it as a valuable asset. Monitor the real estate market for opportunities to leverage this property for potential rental income or capital appreciation.
4. Education Planning: Plan for your children's education expenses by investing in education-specific funds or starting SIPs in mutual funds dedicated to their future needs.
5. Health Insurance: Ensure you have adequate health insurance coverage for your family to safeguard against unforeseen medical expenses.
6. Retirement Planning: With the goal of accumulating 8 crores by the age of 65, calculate the required monthly contributions based on your expected rate of return and investment horizon. Consider consulting a Certified Financial Planner to develop a personalized retirement plan that aligns with your objectives.
7. Review and Adjust: Regularly review your financial plan to track progress towards your goals and make necessary adjustments as your circumstances evolve. Stay disciplined in your savings and investment approach to maximize long-term wealth creation.
By following this comprehensive financial strategy and remaining committed to your goals, you can work towards building a secure financial future for yourself and your family.

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Shekhar

Shekhar Kumar  |121 Answers  |Ask -

Leadership, HR Expert - Answered on May 09, 2024

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Hello i am a 20 year old male who is currently doing a course in automotive field. The college is private and providing me an ASDC NSQF level 6 certification i am also doing a side course related to EV vehicles in don bosco. My main concern is that will companines accept me and can i go abroad for job or studies with these certificates because i have done my 12th in commerce and then changed my field. Please could someone guide me. Shloud i change my line even though i am highly interested and my other main concern is will i able to earn a good living in this field if i pursue it further
Ans: It's great that you're pursuing a course in the automotive field and gaining additional certification related to EV vehicles. Companies in the automotive industry often value practical skills and certifications, especially those recognized by industry bodies like ASDC (Automotive Skills Development Council). Your ASDC NSQF Level 6 certification and additional training in EV vehicles can enhance your employability and make you attractive to potential employers. In many countries, there is a demand for skilled automotive technicians and engineers, including those with expertise in electric vehicles. With relevant certifications and skills, you may be eligible for job opportunities abroad. However, the specific requirements and visa regulations may vary depending on the country and employer. You should also research the job market and immigration policies of the countries you're interested in to understand the possibilities. The automotive industry offers diverse career opportunities, including roles in vehicle maintenance, repair, manufacturing, sales, and research. As the demand for electric vehicles continues to grow, there's a rising need for professionals with expertise in EV technology. By staying updated on industry trends, gaining practical experience, and continuously upgrading your skills, you can position yourself for a successful career with opportunities for advancement and competitive salaries. It's essential to consider your passion and interest in the automotive field when making career decisions. If you're genuinely enthusiastic about automotive technology and enjoy working with vehicles, pursuing a career in this field can be fulfilling and rewarding. Follow your passion, leverage your skills and certifications, and remain open to learning and growth opportunities along the way. 

Ultimately, your success in the automotive industry will depend on your dedication, willingness to learn, adaptability, and proactive approach to career development. Keep honing your skills, networking with industry professionals, and exploring avenues for advancement to maximize your potential in this dynamic and evolving field. If you're passionate about automotive technology and committed to excellence, there's a good chance you can build a rewarding and lucrative career in the industry.

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