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Workplace Expert - Answered on Mar 19, 2024

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Asked by Anonymous - Mar 13, 2024Hindi
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My CTC in India is 1900000 per annum. I have got a job offer of 1300KWD in Kuwait. But I cannot take my family with me. Is this a good offer? What should I do?

Ans: To evaluate whether the job offer in Kuwait is better than your current situation in India, you'll need to consider several factors:

1. Cost of living: Kuwait's cost of living may be higher or lower than in India, depending on various factors such as housing, groceries, transportation, healthcare, etc. You should research and compare the cost of living between the two countries to understand how far your salary will go in Kuwait.

2. Taxation: India has income tax, while Kuwait generally does not have income tax for expatriates. However, there may be other taxes or fees in Kuwait that you need to consider.

3. Quality of life: Consider the quality of life in Kuwait compared to what you currently have in India. This includes factors like safety, healthcare, education, social life, climate, etc.

4. Career advancement: Evaluate the potential for career growth and professional development in both locations. Will the job in Kuwait provide better opportunities for advancement or skill development?

5. Separation from family: Consider the impact of being away from your family. Are you comfortable with the idea of living and working abroad without them? Can you manage financially and emotionally without their immediate presence?

6. Future plans: Consider your long-term goals and plans. Will this move align with your career aspirations and personal objectives?

Once you've considered these factors, you'll be in a better position to decide whether to accept the job offer in Kuwait. It's not just about the salary figure; it's about the overall package and how it fits into your life and future plans. You may also want to negotiate the offer to see if there's room for improvement in terms of salary, benefits, or other aspects of the job. If you're still unsure, you could consult with a financial advisor or career counselor for personalized advice.
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Ramalingam

Ramalingam Kalirajan  |8292 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on May 09, 2024

Asked by Anonymous - Apr 24, 2024Hindi
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Money
Dear sir, I am 56 years old with monthly expenses of 50000 rs with no loan pending. I have total family corpus including fd,mf and shares as 3 cr I want to leave my job with current CTC of 30 lacs. I will spend 40 lacs on my daughter's marriage. I will get small pension of 10000 rs Can I leave my job and do social work which I really enjoy
Ans: It's wonderful to hear that you're considering pursuing your passion for social work! Let's assess your financial situation to see if it supports your decision.

With a monthly expense of 50,000 rupees and no pending loans, you seem to have a manageable lifestyle. Your family corpus of 3 crores, including fixed deposits, mutual funds, and shares, provides a strong financial foundation.

Considering your daughter's upcoming marriage, allocating 40 lakhs from your corpus for the wedding is a thoughtful gesture. However, it's essential to ensure that this withdrawal doesn't significantly impact your long-term financial security.

Your small pension of 10,000 rupees per month adds to your income stream, albeit modestly. While it may not cover all your expenses, it can contribute towards your monthly needs.

Given your financial position and your desire to pursue social work, leaving your job with a current CTC of 30 lakhs is feasible. However, it's essential to have a detailed financial plan in place to ensure you can sustain your lifestyle and continue your social work without financial strain.

Before making the transition, consider consulting with a Certified Financial Planner to evaluate your retirement income sources, investment portfolio, and potential income-generating opportunities in social work. They can help you create a comprehensive financial plan that aligns with your goals and aspirations.

Remember, pursuing your passion for social work can be immensely rewarding, both personally and professionally. With careful planning and prudent decision-making, you can embark on this new chapter of your life confidently.

Best Regards,
K. Ramalingam, MBA, CFP,
Chief Financial Planner,
www.holisticinvestment.in

..Read more

Ramalingam

Ramalingam Kalirajan  |8292 Answers  |Ask -

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

Asked by Anonymous - Jul 10, 2024
Money
I live in a joint family in mumbai, we are 8 members, one son is working in the US, with a ctc of $90000, the other son is pursuing his studies at a college in mumbai, and the other 6 members are either retired or housewives, collectively we have 2 crores in fixed deposit, 3 crores in equity, 1.5 crores in jewelry and 2 self owned flats in mumbai, of which 1 is rented out and the other is occupied by us. My question is, that is this amount good enough for a family of my size in mumbai?
Ans: Your financial standing is impressive, but assessing whether it's sufficient for a family of 8 in a city like Mumbai requires a closer look at each asset and its potential growth or liquidity.

Fixed Deposits: Rs. 2 Crores
Fixed deposits provide a stable but relatively low return on investment. At around 6%-7% interest, this generates approximately Rs. 12 to 14 lakhs annually. However, given the inflation rate, the real value of this investment may not grow significantly over time. Therefore, while it’s secure, you might want to explore options that yield higher returns without compromising liquidity, especially for long-term needs.

Equity Investments: Rs. 3 Crores
With Rs. 3 crores in equity, you have a high potential for growth. Equities generally outperform inflation and fixed deposits over time, especially in a long-term horizon. Assuming an average return of 10%-12% per annum, your equity portfolio can generate substantial wealth over time. However, the volatility of equity markets means that you should have a clear risk strategy in place. Given your family’s age mix, maintaining a balanced portfolio with some exposure to debt might be worth considering to protect against market fluctuations.

Jewelry: Rs. 1.5 Crores
While gold and jewelry are valuable assets, they do not generate regular income and may not provide liquidity unless sold. However, they act as a good hedge against inflation and economic uncertainty. You could consider them as a fallback or emergency asset rather than part of the regular financial strategy.

Real Estate: Two Flats in Mumbai
Real estate is a significant asset, particularly in Mumbai, where property values tend to appreciate well over time. You already have one flat generating rental income, which is great. It’s important to assess whether the rental yield is competitive with other investment opportunities, as real estate can sometimes have low rental returns compared to its value. Also, you should periodically review the property market for opportunities to optimize this asset.

Living Expenses for a Joint Family
Mumbai is an expensive city, and for a family of 8, your living costs could be significant. Healthcare, daily expenses, lifestyle costs, and emergencies all need to be considered. Given that several family members are either retired or dependent, you’ll need to ensure that your investments generate enough cash flow to cover ongoing expenses.

Income from Abroad: Son in the US
Your son earning $90,000 annually is a major financial support, assuming he contributes to the household. His income can help meet any shortfalls in day-to-day expenses or cover larger family needs like healthcare or property maintenance. However, depending too heavily on external income may create financial vulnerability, particularly if circumstances change.

Future Financial Planning: Key Considerations
Retirement Needs: Since 6 out of 8 family members are either retired or housewives, ensure your current financial assets cover healthcare costs, emergencies, and inflation-adjusted living costs.

Liquidity: Ensure you maintain sufficient liquidity. Fixed deposits and equity portfolios are good, but always keep a cash buffer for emergencies, especially for medical expenses.

Wealth Preservation: You may want to rebalance your equity portfolio periodically to reduce risk as family members age. A Certified Financial Planner can help you manage this transition smoothly.

Diversification: While you have a well-diversified asset base, ensure that your investments match your family’s risk tolerance and future needs.

Final Insights
Your financial situation is strong, but it needs to be managed wisely for long-term security. Periodic rebalancing, ensuring liquidity, and maintaining a stable cash flow from assets like real estate and fixed deposits will be crucial.

Best Regards,

K. Ramalingam, MBA, CFP,
Chief Financial Planner,
www.holisticinvestment.in
https://www.youtube.com/@HolisticInvestment

..Read more

Ramalingam

Ramalingam Kalirajan  |8292 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on Aug 01, 2024

Asked by Anonymous - Jul 28, 2024Hindi
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Money
I am a teacher by profession this academic year I resigned. I am 50 and my husband is 55 he is planning to leave his job and retire. We are debt free and our only son is pursuing his PhD in USA. Please let us know whether our current corpus is enough for us to leave a decent life and we need around 125k for our monthly expenses. 1.2 crores in EPF, 50 lakhs in PPF, 60 lakhs worth mutual funds and 50 lakhs FD and rest 75 lakhs parked in various other sources. We own 3 flats in Mumbai combined value of it is 6 plus crores. 2 flats r let out. We have health insurance also.
Ans: Current Financial Status
EPF and PPF:

EPF: Rs 1.2 crores
PPF: Rs 50 lakhs
Mutual Funds and Fixed Deposits:

Mutual Funds: Rs 60 lakhs
Fixed Deposits: Rs 50 lakhs
Other Investments:

Various other sources: Rs 75 lakhs
Real Estate:

Three flats in Mumbai worth Rs 6+ crores
Two flats are let out
Health Insurance:

Adequate health insurance coverage
Monthly Expenses Requirement
Expenses:

Monthly requirement: Rs 1.25 lakhs
Evaluation of Current Corpus
Total Corpus:

Total financial assets: Rs 3.55 crores (EPF, PPF, Mutual Funds, FDs, other sources)
Income from Real Estate
Rental Income:

Take two flats for a constant monthly income. The exact rental income should, therefore, be computed for an accurate valuation of the same.
Retirement Planning Observations
Diversification:

Your corpus is diversified very well across various asset classes.
Stability and Growth:

Fixed deposits and PPF provide stability.
Growth comes from mutual funds.
Liquidity:

There should be sufficient liquidity to take care of your monthly expenses and other emergencies.
Recommendations
Investment Strategy:

A portion of your corpus should be invested in balanced mutual funds for growth.
Run adequate fixed deposits for stability and liquidity.
Income Generation:

Maximize the rental income of the flat by letting them at competitive rates.
Invest in dividend-paying mutual funds for generating regular income.
Health Insurance:

Review and ensure health insurance to the extent that it may be necessary with regard to potential medical expenses.
Emergency Fund:

Ensure an emergency fund of 6-12 months of expenses in a liquid fund.
Tax Efficiency:

Plan your investments such that it reduces tax on income that will be generated or withdrawn.
Your current corpus appears sufficient to take care of your retirement needs. Adopt a balanced approach that gives equal emphasis on growth and stability. Maximize the rental income and maintain liquidity for any emergencies. Periodically review and realign your investments in line with your goals.

Best Regards,

K. Ramalingam, MBA, CFP

Chief Financial Planner,

www.holisticinvestment.in

..Read more

Latest Questions
Nayagam P

Nayagam P P  |4465 Answers  |Ask -

Career Counsellor - Answered on Apr 27, 2025

Career
Jee main 2025,my son got 95.2%tile,71104 rank ,ews rank 10111,home state punjab ,can he get cse,ece,data science,it, branch in any nit,iiit,gftis or which branches he will get in these institutes .
Ans: Varinder Sir, Providing precise admission chances for each student can be challenging. Some reputed educational websites offer ‘College Predictor’ tools where you can check possible college options based on your percentile, category, and preferences. However, for a more accurate understanding, here’s a simple yet effective 9-step method using JoSAA’s past-year opening and closing ranks. This approach gives you a fair estimate (though not 100% exact) of your admission chances based on the previous year’s data.

Here is, How to Predict Your Chances of Admission into NIT or IIIT or GFTI After JEE Main Results – A Step-by-Step Guide.

Step-by-Step Guide to Check Your Admission Chances Using JoSAA Data
Step 1: Collect Your Key Details
Before starting, note down the following details:

Your JEE Main percentile
Your category (General-Open, SC, ST, OBC-NCL, EWS, PwD categories)
Preferred institute types (NIT, IIIT, GFTI)
Preferred locations (or if you're open to any location in India)
List of at least 3 preferred academic programs (branches) as backups (instead of relying on just one option)
Step 2: Access JoSAA’s Official Opening & Closing Ranks
Go to Google and type: JoSAA Opening & Closing Ranks 2024
Click on the first search result (official JoSAA website).
You will land directly on JoSAA’s portal, where you can enter your details to check past-year cutoffs.
Step 3: Select the Round Number
JoSAA conducts five rounds of counseling.
For a safer estimate, choose Round 4, as most admissions are settled by this round.
Step 4: Choose the Institute Type
Select NIT, IIIT, or GFTI, depending on your preference.
If you are open to all types of institutes, check them one by one instead of selecting all at once.
Step 5: Select the Institute Name (Based on Location)
It is recommended to check institutes one by one, based on your preferred locations.
Avoid selecting ‘ALL’ at once, as it may create confusion.
Step 6: Select Your Preferred Academic Program (Branch)
Enter the branches you are interested in, one at a time, in your preferred order.
Step 7: Submit and Analyze Results
After selecting the relevant details, click the ‘SUBMIT’ button.
The system will display Opening & Closing Ranks of the selected institute and branch for different categories both Home State (HS) i.e. State you belong to & also Other State (OS).
Step 8: Note Down the Opening & Closing Ranks
Maintain a notebook or diary to record the Opening & Closing Ranks for each institute and branch you are interested in, separately for HS & OS Categories for a quick reference.
This will serve as a quick reference during JoSAA counseling.
Step 9: Adjust Your Expectations on a Safer Side
Since Opening & Closing Ranks fluctuate slightly each year, always adjust the numbers for safety.
Example Calculation:
If the Opening & Closing Ranks for NIT Delhi | Mechanical Engineering | OPEN Category show 8622 & 26186 (for Home State), consider adjusting them to 8300 & 23000 (on a safer side).
If the Female Category rank is 34334 & 36212, adjust it to 31000 & 33000.

Follow this approach for Other State candidates and different categories.
Pro Tip: Adjust your expected rank slightly lower than the previous year's cutoffs for realistic expectations during JoSAA counseling.

Can This Method Be Used for JEE April & JEE Advanced?
Yes! You can repeat the same steps after your April JEE Main results to refine your admission possibilities.
You can also follow a similar process for JEE Advanced cutoffs when applying for IITs.

Want to Learn More About JoSAA Counseling?
If you want detailed insights on JoSAA counseling, engineering entrance exams, preparation strategies, and engineering career options, check out EduJob360’s 180+ YouTube videos on this topic!

Hope this guide helps! All the best for your admissions!

Follow RediffGURUS to Know more on 'Careers | Health | Money | Relationships'.

...Read more

Nayagam P

Nayagam P P  |4465 Answers  |Ask -

Career Counsellor - Answered on Apr 27, 2025

Career
My son got 93.4 percentile jee main . He got eee bit mesra and cse in srm ktr which prospect is better?
Ans: Sharmistha Madam, prefer BIT-M-EEE. Explore more options for your daughter as back-ups by knowing the JoSAA Counselling Opening & Closing Ranks of last year. Step 1: Collect Your Key Details
Before starting, note down the following details:

Your JEE Main percentile
Your category (General-Open, SC, ST, OBC-NCL, EWS, PwD categories)
Preferred institute types (NIT, IIIT, GFTI)
Preferred locations (or if you're open to any location in India)
List of at least 3 preferred academic programs (branches) as backups (instead of relying on just one option)
Step 2: Access JoSAA’s Official Opening & Closing Ranks
Go to Google and type: JoSAA Opening & Closing Ranks 2024
Click on the first search result (official JoSAA website).
You will land directly on JoSAA’s portal, where you can enter your details to check past-year cutoffs.
Step 3: Select the Round Number
JoSAA conducts five rounds of counseling.
For a safer estimate, choose Round 4, as most admissions are settled by this round.
Step 4: Choose the Institute Type
Select NIT, IIIT, or GFTI, depending on your preference.
If you are open to all types of institutes, check them one by one instead of selecting all at once.
Step 5: Select the Institute Name (Based on Location)
It is recommended to check institutes one by one, based on your preferred locations.
Avoid selecting ‘ALL’ at once, as it may create confusion.
Step 6: Select Your Preferred Academic Program (Branch)
Enter the branches you are interested in, one at a time, in your preferred order.
Step 7: Submit and Analyze Results
After selecting the relevant details, click the ‘SUBMIT’ button.
The system will display Opening & Closing Ranks of the selected institute and branch for different categories both Home State (HS) i.e. State you belong to & also Other State (OS).
Step 8: Note Down the Opening & Closing Ranks
Maintain a notebook or diary to record the Opening & Closing Ranks for each institute and branch you are interested in, separately for HS & OS Categories for a quick reference.
This will serve as a quick reference during JoSAA counseling.
Step 9: Adjust Your Expectations on a Safer Side
Since Opening & Closing Ranks fluctuate slightly each year, always adjust the numbers for safety.
Example Calculation:
If the Opening & Closing Ranks for NIT Delhi | Mechanical Engineering | OPEN Category show 8622 & 26186 (for Home State), consider adjusting them to 8300 & 23000 (on a safer side).
If the Female Category rank is 34334 & 36212, adjust it to 31000 & 33000.

Follow this approach for Other State candidates and different categories.
Pro Tip: Adjust your expected rank slightly lower than the previous year's cutoffs for realistic expectations during JoSAA counseling.

Can This Method Be Used for JEE April & JEE Advanced?
Yes! You can repeat the same steps after your April JEE Main results to refine your admission possibilities.
You can also follow a similar process for JEE Advanced cutoffs when applying for IITs.

Want to Learn More About JoSAA Counseling?
If you want detailed insights on JoSAA counseling, engineering entrance exams, preparation strategies, and engineering career options, check out EduJob360’s 180+ YouTube videos on this topic!

Hope this guide helps! All the best for your admissions!

Follow RediffGURUS to Know more on 'Careers | Health | Money | Relationships'

Step 1: Collect Your Key Details
Before starting, note down the following details:

Your JEE Main percentile
Your category (General-Open, SC, ST, OBC-NCL, EWS, PwD categories)
Preferred institute types (NIT, IIIT, GFTI)
Preferred locations (or if you're open to any location in India)
List of at least 3 preferred academic programs (branches) as backups (instead of relying on just one option)
Step 2: Access JoSAA’s Official Opening & Closing Ranks
Go to Google and type: JoSAA Opening & Closing Ranks 2024
Click on the first search result (official JoSAA website).
You will land directly on JoSAA’s portal, where you can enter your details to check past-year cutoffs.
Step 3: Select the Round Number
JoSAA conducts five rounds of counseling.
For a safer estimate, choose Round 4, as most admissions are settled by this round.
Step 4: Choose the Institute Type
Select NIT, IIIT, or GFTI, depending on your preference.
If you are open to all types of institutes, check them one by one instead of selecting all at once.
Step 5: Select the Institute Name (Based on Location)
It is recommended to check institutes one by one, based on your preferred locations.
Avoid selecting ‘ALL’ at once, as it may create confusion.
Step 6: Select Your Preferred Academic Program (Branch)
Enter the branches you are interested in, one at a time, in your preferred order.
Step 7: Submit and Analyze Results
After selecting the relevant details, click the ‘SUBMIT’ button.
The system will display Opening & Closing Ranks of the selected institute and branch for different categories both Home State (HS) i.e. State you belong to & also Other State (OS).
Step 8: Note Down the Opening & Closing Ranks
Maintain a notebook or diary to record the Opening & Closing Ranks for each institute and branch you are interested in, separately for HS & OS Categories for a quick reference.
This will serve as a quick reference during JoSAA counseling.
Step 9: Adjust Your Expectations on a Safer Side
Since Opening & Closing Ranks fluctuate slightly each year, always adjust the numbers for safety.
Example Calculation:
If the Opening & Closing Ranks for NIT Delhi | Mechanical Engineering | OPEN Category show 8622 & 26186 (for Home State), consider adjusting them to 8300 & 23000 (on a safer side).
If the Female Category rank is 34334 & 36212, adjust it to 31000 & 33000.

Follow this approach for Other State candidates and different categories.
Pro Tip: Adjust your expected rank slightly lower than the previous year's cutoffs for realistic expectations during JoSAA counseling.

Can This Method Be Used for JEE April & JEE Advanced?
Yes! You can repeat the same steps after your April JEE Main results to refine your admission possibilities.
You can also follow a similar process for JEE Advanced cutoffs when applying for IITs.

Want to Learn More About JoSAA Counseling?
If you want detailed insights on JoSAA counseling, engineering entrance exams, preparation strategies, and engineering career options, check out EduJob360’s 180+ YouTube videos on this topic!

Hope this guide helps! All the best for your admissions!

Follow RediffGURUS to Know more on 'Careers | Health | Money | Relationships'.

...Read more

Prof Suvasish

Prof Suvasish Mukhopadhyay  |598 Answers  |Ask -

Career Counsellor - Answered on Apr 27, 2025

Career
I have already appeared for the JEE Main and secured a 95.15 percentile, which is close to the previous year's cut-off. My query is whether it is possible to select both options JEE and NFATso that if I do not qualify through my JEE score, my application can be considered based on my NFAT score instead. If selecting both options is permissible, could you please guide me on how to do so while filling out the application form? Your assistance on this matter would be greatly appreciated.
Ans: No, candidates cannot apply using both JEE Main and NAFT scores for the same admissions. JEE Main scores are used for admissions to engineering programs at NITs, IIITs, and other participating institutions, while NAFT scores are used for admissions to NAFT-affiliated universities. These are distinct admission processes, and only one set of scores can be used.

...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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