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Neeraj

Neeraj Batra  | Answer  |Ask -

CA, CS, Commerce Expert - Answered on Jul 02, 2023

CA Neeraj Batra is a director and a faculty member at DGS CAPS Learning Private Limited, a coaching institute for Chartered Accountancy and Company Secretaryship.
He has been teaching mathematics to CA, CS and commerce aspirants for over 11 years.
He has taught accounts and finance to IRS officers at the National Academy of Direct Taxes for three years and conducted numerous seminars at schools, colleges and MBA institutes in India.
Under his mentorship, several students have topped the competitive exam and secured All India Ranks.
Batra topped CA Intermediate (PCC) exam from Nagpur in 2009 and completed his CA and CS at the age of 21.
He has also cleared CFA (USA) Level 1.... more
SANDEEP Question by SANDEEP on Jun 12, 2023Hindi
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MY SON IS IN CLASS XI COMMERCE STREAM WHICH COURSE IS BEST FOR HIM AFTER 12TH CLASS

Ans: CA, CS, CLAT, IPMAT, MBA, Fashion Designing, Digital Marketing, Banking, etc. It depends on his interest, strengths & hobbies. But you can start exploring by visiting different coaching institutes who offer these courses, they'll provide info on their respective fields which will help you & your son to decide the field he wants to pursue.
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Harsh

Harsh Bharwani  |62 Answers  |Ask -

Entrepreneurship Expert - Answered on Feb 27, 2023

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Hello Mr. Harsh, My son is going to clear 12th exam from commerce side. What course do you suggest he should go so that he can get a good carrier/job in future.
Ans: Here are some IT-related courses that your son may consider:

Cloud Computing: Cloud computing is a popular technology that is used to store and access data and software over the internet. Your son can pursue a course in cloud computing that covers topics such as virtualization, cloud architecture, and cloud security. This industry is expected to become a $1.5 trillion industry by the year 2030 with a CAGR growth rate of 14.1% from the year 2023 to 2030. The cloud industry is growing at a very stable rate.

Metaverse: Metaverse is a virtual world that is created by combining virtual and augmented reality technologies. Your son can pursue a course in the metaverse that covers topics such as 3D modelling, virtual environments, and gaming development. There is a very good course called "Masters in Gaming and Metaverse Development" that is industry certified. The Metaverse industry is expected to become a $1 Trillion industry by the year 2030 so there is exponential growth.

Cybersecurity: With the increasing number of cyber attacks, cybersecurity has become a critical field in IT. As people's work and day-to-day activities shift more and more online, there is going to be much more cyber breaches taking place which automatically needs to be balanced out with more cybersecurity professionals. Your son can pursue a course in cybersecurity, which covers topics such as network security, cryptography, and ethical hacking. The industry was valued at $222 billion in the year 2022 and is set to go beyond $650 billion by the year 2030 indicating steady growth going into the future.

Blockchain: Blockchain is a decentralized digital ledger that is used to record transactions. It is used in various industries such as finance, healthcare, and supply chain management. Your son can pursue a Masters in Blockchain development course which will teach your son everything about blockchain and cryptocurrency industry. The blockchain industry is expected to reach a valuation of $1.4 Trillion growing at a CAGR of 87.7%! Blockchain is becoming more widespread and accepted among the general population and there is huge growth in this industry

Data Science: Data science is a field that involves extracting insights from large amounts of data. Your son can pursue a course in data science that covers topics such as statistics, machine learning, and data visualization.


These are just a few of the many IT-related courses that your son may consider. It is important for him to research his interests and career goals and choose a course that aligns with them.

..Read more

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Nayagam P

Nayagam P P  |3935 Answers  |Ask -

Career Counsellor - Answered on Nov 27, 2024

Ramalingam

Ramalingam Kalirajan  |7163 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on Nov 27, 2024

Asked by Anonymous - Nov 27, 2024Hindi
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Hi, sir I am a an 30 year old (single) engineer working with a MNC in Chennai, unfortunately till this day i haven't had any savings at all for my future (retirement, other short term or long term goals). Currently my take home salary after EPF and parental insurance is 53k ( EPF is about 4900/month - employee+employer) i haven't opted for Corporate NPS but is provided by the company without any additional contribution from company. I have company health insurance policy and have planned to take my own health insurance and term insurance plan. Adding to above I have zero emergency fund with me. How should I proceed with my investments?
Ans: You have taken the first step by recognising the need to plan. It’s essential to appreciate your intention to secure your financial future. Let’s look at how you can proceed to achieve your short-term and long-term goals.

Your current take-home salary is Rs 53,000, and your EPF contribution is Rs 4,900. However, you lack savings, investments, and an emergency fund. Here's a step-by-step strategy:

Build an Emergency Fund
Set aside funds to cover at least six months' expenses.

Start by saving 10-15% of your salary monthly into a high-interest savings account.

Use Recurring Deposits or Liquid Mutual Funds to maintain this fund for emergencies.

Secure Yourself with Insurance
Health insurance: Maintain your company health policy but add a personal health policy. Choose a policy offering a sum insured of Rs 10-15 lakh.

Term insurance: Buy a term plan covering 10-15 times your annual income. Keep the policy simple and avoid investment-linked insurance.

Budget Your Income
Allocate your income carefully for expenses, savings, and investments.

Use the 50-30-20 rule: 50% for needs, 30% for wants, and 20% for savings and investments.

Avoid unnecessary expenses to increase your saving capacity.

Start Investing Gradually
Short-term goals (1-5 years): Invest in debt funds or recurring deposits. Debt mutual funds are good for stable returns.

Long-term goals (5+ years): Invest in equity mutual funds for higher returns. Choose actively managed funds with consistent performance.

Avoid index funds. Actively managed funds have a better potential for higher returns through professional fund management.

Retirement Planning
Utilise the EPF for retirement. Your current contribution will grow over time with compounding.

Consider investing in diversified equity mutual funds for additional retirement savings.

Corporate NPS: You can explore NPS for its tax-saving benefits. However, don’t rely solely on it for retirement.

Tax-Saving Investments
Use Section 80C to save taxes up to Rs 1.5 lakh.

EPF, PPF, ELSS mutual funds, and life insurance premiums can qualify under this section.

Opt for ELSS funds for tax saving and wealth creation.

Review Existing Expenses
Evaluate and minimise unnecessary expenditures.

Avoid loans for discretionary spending like vacations or gadgets.

Advantages of Using a Certified Financial Planner
A CFP can help you plan holistically and ensure you stick to your goals.

They provide tailored strategies, ensuring proper fund allocation and monitoring.

Invest through a Mutual Fund Distributor with CFP credentials to access professional advice.

Key Steps for Discipline
Automate investments through SIPs in mutual funds.

Track your monthly budget and investment progress regularly.

Avoid direct funds. Regular funds offer professional guidance and fund distributor support.

Tax Implications
For equity mutual funds, LTCG above Rs 1.25 lakh attracts 12.5% tax.

STCG on equity funds is taxed at 20%.

Debt fund gains are taxed as per your income slab. Consider these while investing.

Final Insights
You are in the right direction by seeking advice now. Build a solid foundation with savings, insurance, and investments. Take small steps toward financial independence.

Remain consistent with your investments, and review your financial plan annually.

Best Regards,

K. Ramalingam, MBA, CFP,

Chief Financial Planner,
www.holisticinvestment.in
https://www.youtube.com/@HolisticInvestment

...Read more

Mayank

Mayank Chandel  |1940 Answers  |Ask -

IIT-JEE, NEET-UG, SAT, CLAT, CA, CS Exam Expert - Answered on Nov 27, 2024

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Hello, i really have a serious issue regarding my studies as i am 24 yrs now and gave NEET 4times and i am still preparing for nxt year 2025 but at the back of my mind i am really tensed what if the same thing repeats in the neet 2025 also like paper leak and all, So now i am confused that should i take a full drop or partial drop. The mental pressure is really hitting hard and also its almost been 4years that i am still 12th pass only and my classmates have already completed their college and some are flight attendant and earning well, So this all things just hits so hard and also the hope in parents eyes as my father is already proud that i studied science so i would definitely become doctor. I wasted a lot of money in pg and coaching (fastrack) and this all things are hitting so hard that i really feel sad and have no ways to go.
Ans: Hi Bhima
I must say you have got perseverance & I appreciate your parent's trust in you. You have already appeared multiple times and you are going to appear again in 2025. By the time you will be 25 years old. They say there is no age to learn. But after getting admission you need another 10 years to practice as a qualified specialist. Make sure you take admission in the next session.

If higher cutoff & high fees of private colleges are an issue for you, then try exploring the MBBS abroad option, I can help with that too. Since NEXT is compulsory for Indian & Foreign graduates too it won't make a difference if you study in India or Abroad.

For time forget all the societal pressure and give your 100% and make your parents proud.

...Read more

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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