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Geeta Ratra  | Answer  |Ask -

Visas, Study Abroad Expert - Answered on Aug 01, 2023

Geeta Ratra has been an immigration expert for more than two decades and has strong knowledge of international immigration policies and procedures. She is vice president, operations, at Abhinav Immigration Services. Besides visa and immigration services, they also provide study abroad advice that includes application assistance, counselling and university shortlisting.... more
Sunil Question by Sunil on Jul 06, 2023Hindi
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Sir, my daughter has done 12th medical in 2021 and want to do graduation from US. Could you Please help us by guiding about some good courses in USA universities or reliable resource where we get info about living expenses also. Thank You

Ans: Hello Sunil
It depends on the academic scores and NEET score , as the requirements are high 85% in 12th grade is required for good USA universities to pursue graduation.
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Sushil

Sushil Sukhwani  |555 Answers  |Ask -

Study Abroad Expert - Answered on Aug 09, 2023

Asked by Anonymous - Aug 08, 2023Hindi
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Hi, my daughter is studying in 11 class and she has opted for medical. After 12th she would like to go to USA for further studies. Can you please advise few best Universities in USA for medical programs? And complete process as well?
Ans: Hello,

To begin with, thank you for getting in touch with us. Certainly, we’d be glad to assist! Although studying medicine in the United States might be beneficial, it's vital to keep in mind that the application process can be very competitive. Mentioned below are some of the best medical schools in the USA, along with a description of the application process:

Top Medical Schools in the United States:
1. Harvard University
2. Johns Hopkins University
3. Stanford University
4. University of California--San Francisco
5. University of Pennsylvania (Perelman)
6. Washington University in St. Louis
7. Duke University
8. University of California--Los Angeles (Geffen)
9. Yale University
10. Columbia University

Remember that this is not an exhaustive list, as there are several additional good medical universities in the United States.

Application Procedure:

1. Prerequisites: Before applying, your daughter must obtain a bachelor's degree (often a pre-medical or cognate degree) with prerequisite coursework in biology, chemistry, physics, and maths.

2. MCAT: The Medical College Admission Test (MCAT) is a requirement for admission to the majority of American medical schools. It is a standardized exam that evaluates an applicant's understanding of scientific principles, critical thinking, and problem-solving abilities.

3. Recommendation Letters: Your daughter will require outstanding letters of recommendation from professors, mentors, or professionals who can attest to her intellectual prowess and character.

4. Statement of Purpose: Typically, applicants must compose a convincing personal statement outlining their purpose to pursue a medical career, relevant experiences, and attributes that make them a viable candidate.

5. Application via AMCAS or AACOMAS: The majority of medical schools use centralized application systems: the American Medical College Application Service (AMCAS) for MD programs and the American Association of Colleges of Osteopathic Medicine Application Service (AACOMAS) for DO programs.

6. Additional Applications: Some colleges may request secondary applications with additional essays or questions after the initial application. These are used to further determine the applicant's suitability for the program.

7. Interviews: Your daughter will be invited to the schools for interviews, if chosen. This serves as an opportunity for her to learn more about the program and for the school to learn more about her.

8. Acceptance: She will have to select one institution and file the necessary paperwork if she receives acceptance offers.

9. Visa Procedure: The university's office for international students will assist your daughter with the visa application procedure when she accepts an offer.

10. Medical Licensing Exams: After completing the medical program in the United States, she will need to pass the United States Medical Licencing Examination (USMLE) in order to practise medicine.

It's important to thoroughly examine the programs and make appropriate plans because each university may have unique criteria and deadlines. Getting advice from academic advisors, mentors, or business experts might be advantageous because the application process can be complicated.

For more information, you can visit our website.

..Read more

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Ramalingam

Ramalingam Kalirajan  |7101 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on Nov 22, 2024

Money
My age 62, male, getting rental income Rs. 90k nett. Already subscribing 12.5k in PPF for the past 2 1/2 years. No other investments. My target is 5 crores in 10 years. I already have Mediclaim Rs.50 lakhs for me & wife . Please advice me what to do.
Ans: Your current financial foundation is strong and shows promise:

A rental income of Rs. 90,000 per month provides consistent and predictable cash flow. This stability can serve as the backbone for your investment strategy.

PPF contributions of Rs. 12,500 per month for 2.5 years reflect disciplined saving. However, its returns may be insufficient to achieve a high-growth target like Rs. 5 crores in 10 years.

A robust Mediclaim policy of Rs. 50 lakhs for you and your wife ensures adequate health coverage. This safeguard allows you to focus on wealth-building without worrying about medical emergencies.

Despite these positive factors, achieving Rs. 5 crores in 10 years requires a carefully crafted and growth-oriented strategy.

Defining and Prioritising Your Financial Goals
Achieving Rs. 5 crores is ambitious yet achievable with a focused approach:

Define this target as your primary financial goal over the next decade.

Break it into manageable milestones: for example, Rs. 50 lakhs every 1-2 years in cumulative investments and growth.

Prioritise high-return investments that align with your risk tolerance and financial capacity.

Optimising Existing PPF Contributions
While PPF is a secure investment, its growth potential is limited:

Returns: PPF currently offers an interest rate of approximately 7-7.5%, which barely outpaces inflation.

Contribution Review: Consider capping your PPF contributions at Rs. 1.5 lakh annually (to utilise the Section 80C benefit). This ensures that excess funds are redirected to higher-return investments.

PPF can serve as a low-risk component of your portfolio but should not dominate your investment strategy.

Building a Diversified Investment Portfolio
A diversified portfolio will provide a balance of risk and reward. Include the following components:

1. Equity Mutual Funds for Growth
Equity mutual funds are essential for achieving high returns over the long term:

Large-Cap Funds: These invest in established companies and offer stability with moderate growth. They are ideal for a portion of your portfolio to reduce risk.

Multi-Cap or Flexi-Cap Funds: These provide exposure to companies of all sizes, offering growth and diversification.

Sectoral and Thematic Funds: Avoid these unless you have a high risk tolerance and understand market dynamics.

ELSS Funds: These not only provide tax savings under Section 80C but also deliver market-linked returns.

Why Avoid Index Funds?

Index funds may offer simplicity and lower expense ratios, but they lack flexibility. They cannot adapt to market conditions or capitalise on outperforming sectors. Actively managed funds, on the other hand, have the potential to outperform the market, especially in a developing economy like India.

Start with a Systematic Investment Plan (SIP) in selected funds to build wealth steadily.

2. Debt Mutual Funds for Stability
Debt funds add stability to your portfolio and reduce overall risk:

Choose funds with low credit risk and moderate duration to ensure safety and predictable returns.

Debt funds are suitable for short- to medium-term goals or as a fallback during market corrections.

Taxation Note: Both LTCG and STCG on debt funds are taxed as per your income tax slab. This should be factored into your planning.

3. Balanced Advantage Funds
Balanced advantage funds (BAFs) dynamically allocate assets between equity and debt. They:

Provide exposure to equity while minimising downside risk.

Offer a suitable option for someone nearing retirement but seeking growth.

4. Gold Investments for Diversification
Allocate a small portion (5-10%) of your portfolio to gold:

Gold serves as a hedge against inflation and currency depreciation.

Choose gold ETFs or sovereign gold bonds for ease of liquidity and better returns.

Emergency Fund Creation
Having an emergency fund is non-negotiable:

Maintain at least 6-12 months of expenses in liquid investments like liquid mutual funds or high-interest savings accounts.

This ensures liquidity for unforeseen events without disturbing your long-term investments.

Focus on Retirement Planning
At 62, balancing growth and safety becomes critical:

Estimate your monthly retirement expenses, considering inflation over the next 10-15 years.

Your target of Rs. 5 crores should primarily serve as your retirement corpus.

Allocate assets thoughtfully:

60-70% in equity funds for growth.
30-40% in debt funds for stability.
Periodically rebalance your portfolio to maintain this allocation.

Strategic Tax Planning
Tax efficiency can significantly impact your returns:

Continue using Section 80C to its full potential, including ELSS funds and PPF.

Consider the National Pension System (NPS) for an additional Rs. 50,000 deduction under Section 80CCD(1B).

Be mindful of the new taxation rules for mutual funds:

Equity Mutual Funds: LTCG above Rs. 1.25 lakh is taxed at 12.5%; STCG at 20%.
Debt Funds: LTCG and STCG are taxed as per your income slab.
Consult a Certified Financial Planner to optimise your tax strategy.

Regular Portfolio Monitoring and Rebalancing
Investing is not a one-time activity:

Review your portfolio every six months or annually to track performance.

Rebalance your asset allocation periodically to align with your financial goals and risk appetite.

Stay committed to SIPs even during market downturns, as this ensures cost-averaging.

Additional Suggestions
Avoid Over-Reliance on PPF
While PPF is safe, it is not sufficient for wealth creation. Shift excess contributions to equity-based investments for better returns.

Avoid Direct Stocks
Direct equity investing requires time, expertise, and constant monitoring. It carries higher risk and may lead to losses without proper research. Instead, rely on equity mutual funds managed by professionals.

Avoid Mixing Insurance and Investments
Do not invest in ULIPs or endowment plans, as they offer suboptimal returns. Stick to pure insurance products for protection and mutual funds for growth.

The Role of a Certified Financial Planner
To achieve Rs. 5 crores, a well-crafted financial plan is essential. A Certified Financial Planner (CFP) can:

Analyse your current investments and recommend improvements.

Design a customised strategy tailored to your income, expenses, and goals.

Provide periodic reviews to ensure you stay on track.

Finally
Achieving Rs. 5 crores in 10 years is a realistic goal if you adopt a disciplined and diversified approach.

Optimise your PPF contributions and channel excess funds into higher-growth investments.

Build a diversified portfolio with equity and debt mutual funds.

Include a small allocation to gold and maintain an emergency fund.

Stay consistent with your SIPs and review your investments regularly.

Work with a Certified Financial Planner to create a personalised roadmap.

By following these steps, you can secure your financial future and meet your goals.

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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