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Aashish

Aashish Sood  | Answer  |Ask -

CAT, Management Expert - Answered on Nov 02, 2023

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
Asked by Anonymous - Oct 30, 2023Hindi
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Career

Hi sir, I completed my B.tech in 2019 in computer science. After that 4 yrs have passed but I have not been able to stabilize my career till now. I have total 2 yrs of work experience in total 4 IT ompanies. I also have 2 career breaks of 1.5 yrs and 6 months each. The reason for my frequent job hopping and career gaps is that I am not able to handle stressful situations at workplace. Whenever a situation comes in which my boss scolds me or expects me to work in tight deadlines or I make some mistakes or some office politics starts, I start to get very anxious and spiral into negativity. My software development skills are pretty decent and I perform better than many of my colleagues. But my inability to handle these things eventually makes me quit the job in the hope that next job would be better in this regard. I usually get new jobs within few weeks due to my skills but my avoidance behaviour starts the same cycle again in the next workplace as well. Due to this my salary has not also been able to grow much. What should I do to save my career? My options are either sticking with IT ir changing my field by doing mba. I also think about MS abroad but my btech grades are not good enough (6.6 cgpa) to get in good universities.

Ans: Hey

It's understandable that dealing with workplace stress, criticism, tight deadlines, and office politics can be overwhelming. However, recognizing these challenges is an important first step towards finding a solution.

Here are my 2 cents worth of advice

1. Consider consulting a professional counselor or therapist to work on coping mechanisms for stress, anxiety, and handling workplace pressure. Learning techniques to manage stress and maintain a positive mindset can be tremendously beneficial.

2. Develop emotional intelligence skills to understand and manage emotions, empathize with others, and effectively communicate in challenging circumstances.

3. Develop a thick skin. Develop an ability to bounce back from setbacks, rejections, or stressful situations. Strategies like mindfulness, meditation, or even regular exercise can significantly contribute to improving resilience.

4. Be assertive, yet respectful, in your interactions can help you navigate workplace conflicts better.

5. It's possible that the culture or environment of the companies you've worked for may not be conducive to your well-being. Consider exploring companies with a more supportive, nurturing, or relaxed work culture.

Going for an MBA will be a costly affair and I would advise you to be sure of your decision.

Furthermore, post MBA; corporate stress is only bound to increase.
Career

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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

...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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