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Sushil

Sushil Sukhwani  |582 Answers  |Ask -

Study Abroad Expert - Answered on Jan 11, 2024

Sushil Sukhwani is the founding director of the overseas education consultant firm, Edwise International. He has 31 years of experience in counselling students who have opted to study abroad in various countries, including the UK, USA, Canada and Australia. He is part of the board of directors at the American International Recruitment Council and an honorary committee member of the Australian Alumni Association. Sukhwani is an MBA graduate from Bond University, Australia. ... more
Southa Question by Southa on Sep 24, 2023Hindi
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My son is doing 2nd year mbbs in tamil nadu government medical college, he wants to do his pg in Australia or dubai suggest me what are the steps needed for that ? We are below middle class .

Ans: Hello Southa,

To begin with, thank you for contacting us. I am glad to hear that your son is currently pursuing the 2nd year of his MBBS degree and thereafter wishes to pursue his post-graduation (PG) in Australia or Dubai. As an answer to your query, I would like to tell you that the following procedures and considerations need to be taken into account in order for your son to pursue his postgraduate studies. Your son will first need to shortlist universities that provide the PG programs he’s interested in pursuing. I would recommend that he looks into the particular prerequisites as well as eligibility requirements for postgraduate courses in these preferred countries. This entails academic credentials, examinations viz., the PLAB or AMC exams in Australia, hands-on (job) experience, as well as appearing for language competency tests viz., OET or the IELTS. Fill out and submit applications, and be sure to include all the necessary documentation. Your son will also need to consider other aspects. He will need to take into account the prerequisites for health insurance for overseas students in the country he decides to study in. I would also suggest that your son investigates the lodging options and arranges for the same well in advance. In addition, considering you belong to the middle-class category, it’s essential that your son plans his finances. He should investigate the grants, scholarships, and other forms of monetary assistance offered to overseas students studying in Australia or Dubai. Moreover, to reduce the costs of living, your son should engage in part-time jobs available for students in these nations. He should comprehend the visa prerequisites associated with studying in these two countries and finish the visa application procedure. Remember that acquiring assistance from experts or academic advisors with expertise in foreign admissions can prove beneficial. They will be in a better position to offer guidance throughout the application procedure, provide assistance with all the required paperwork, as well as provide information on the courses that would best resonate with your son's future goals and monetary circumstances. Finally, to enhance your son’s application to pursue postgraduate courses abroad, I would recommend that you support him in achieving academic excellence and acquiring pertinent work experience.

For more information, you can visit our website.
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Sushil

Sushil Sukhwani  |582 Answers  |Ask -

Study Abroad Expert - Answered on Apr 25, 2024

Asked by Anonymous - Apr 15, 2024Hindi
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Ny son is doind bachelor of Phesiothrepy and want to study further for post graduation in USA or some other country please tell me full detail for admission after he can work there or not
Ans: Hello,

To begin with, thank you for contacting us. I am glad to hear that your son is currently pursuing his Bachelor of Physiotherapy and further intends pursuing his post-graduation in the USA or some other country. To answer your question first, I would like to let you know that pursuing physiotherapy is a fulfilling career, and opting for PG studies overseas can present outstanding chances for development and specialization. Concerning your query regarding the procedure for admission and future employment possibilities for your son in the USA or another country, I would suggest that you consider the following:

As part of the admission procedure, your son should first conduct a comprehensive study on postgraduate programs in physiotherapy or associated fields both in the USA or other countries. He should look for universities with a solid standing in his field of expertise. Next, remember that the admission prerequisites for each university is unique. These generally entail submitting academic marksheets, scores of standardized tests viz., the GMAT or GRE, a personal statement or statement of purpose (SOP), endorsement letters, and at times, professional experience. Your son may be required to prove his fluency in English through appearing for tests viz., the IELTS or TOEFL, if he's a non-native English speaker. According to the particular guidelines set by each university, your son will then need to submit his application via mail or through the university's online portal. If your son is accepted, as the next step, he will need to apply for a student visa. Remember that based on the country he wishes to study in, this procedure can differ. Nevertheless, I would like to tell you that guidance for the same can be provided by the university's international student office. Lastly, make sure your son is aware of the costs associated with attending, viz., tuition fees, costs of living, and any scholarships or financial aid that may be applicable.

Concerning your query regarding employment opportunities post-graduation, I would like to tell you that your son, upon completing his studies in the USA, may qualify for Optional Practical Training (OPT), which permits international students to work for up to one year following graduation in their area of expertise. Nevertheless, an extension of up to 36 months is available for OPT in some STEM (Science, Technology, Engineering, and Mathematics) programs. Your son should think about applying for an H-1B visa if he intends working in the USA beyond OPT. This visa enables U.S. firms to temporarily employ foreign workers in specialty vocations. However, owing to yearly quotas, acquiring an H-1B visa might be challenging. Next, if your son intends studying in another country, I would like to tell you that he should look into the employment opportunities post-graduation that are available there. Remember that international students are offered post-study work visas or pathways to permanent residency by several nations. I would like to let you know that each country has different laws governing the practice of physiotherapy. To practice as a physiotherapist in a new country, your son may be required to take licensing examinations or further training. I would recommend that your son networks with industry professionals and looks for internship possibilities while he is studying. Remember that developing relationships and obtaining hands-on experience can improve your son’s career opportunities after graduating.

By adhering to these steps and taking into account the particular prerequisites and prospects in the destination of his choice, your son can pursue his postgraduate studies overseas and possibly start a fulfilling career in physiotherapy.

For more information, you can visit our website.

..Read more

Dr Nagarajan Jsk

Dr Nagarajan Jsk   |237 Answers  |Ask -

NEET, Medical, Pharmacy Careers - Answered on Sep 02, 2024

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Good day Sir. My son is in final year MBBS and shall graduate in 2025 and complete his compulsory internship in a April 2026 . He does not prefer Family Medicine or paediatric medicine and he has not finalized his passion for any particular stream yet. He wants to do his Masters from UK or USA. I understand USMLE is required for USA and PLAB is required for UK studies. My queries are : 1. What are expenses for completing USMLE and PLAB ? 2. What are possibilities of getting Residencies in USA / UK ? 3. Shall he require additional financial support after getting Residencies ? Pros and Cons of studies in both the countries ? 5. Any specific requirement for studies abroad ? 6. Finally, your suggestion as to where my son should do his Masters after completing his MBBS in India ? I shall appreciate your valuable guidance . Thanks and regards Sujit Roy
Ans: Hi Sujit,
Hello,

I am pleased to learn that your son will be completing his MBBS next year and is considering pursuing higher education. From your query, it seems that you are contemplating whether he should pursue his higher education abroad. There are several factors that need to be taken into consideration before making a decision. Some of these factors include:

1. He will need to clear the USMLE or PLAB exams, which will require dedicated effort. Until he completes these exams, he will require both financial and moral support.

2. The specialization he is interested in pursuing is a crucial factor to consider.

3. The choice of university will also play a significant role, as it may impact the availability of financial aid.

4. Additionally, it is important to weigh the pros and cons of studying in the USA or the UK and make an informed decision based on the specifics of each country.

Ultimately, the decision about his higher education should be made based on your financial circumstances and the support that can be provided without undue strain.

But i feel USA is better option when compare to UK.

"All the best to your son for his future endeavors."

..Read more

Latest Questions
Janak

Janak Patel  |15 Answers  |Ask -

MF, PF Expert - Answered on Feb 10, 2025

Asked by Anonymous - Feb 10, 2025Hindi
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Advice Needed: Transitioning Back to India & Financial Planning Hello, I’m currently in the process of transitioning back to India after spending the last 15 years abroad. My family includes my wife (early 30s) and our 1-year-old baby. We are staying with my parents for now but are planning to move into a larger, more comfortable residence, either by buying or renting. I’d love to hear some perspectives on my financial situation, as I’m trying to figure out the best course of action in this new chapter. Here’s a quick summary of where I stand: 1. Cash Savings: We’re consolidating assets from both India and abroad, and will have about ₹4 crore in liquid funds. 2. Retirement Savings: I have a PPF-equivalent account of around ₹70 lakhs, which I can only access at age 65. I’m hoping the modest returns from this will be sufficient for my retirement. 3. Inherited Assets: I’ve inherited ancestral properties valued around ₹30 crore. I’m not planning to liquidate these assets or touch them for at least the next 10 years. 4. Career: I work in IT and expect a salary of about ₹1.3 lakh per month (after tax) in India. My wife is in the early stages of her career, so we’re still deciding whether she will work here or possibly start her own small business. Given all of this, here’s where I’m at: * Investment options: I’m considering investing the ₹4 crore in commercial real estate to generate passive income. I’ve seen a couple of properties with rental guarantees of ₹1.5 lakh per month, with a 5% annual increase. * Housing preference: My family prefers to live in a gated community, so I’m not really inclined to invest in residential property for passive income. * Housing decision: Should I buy an apartment or villa now, betting on my career certainty here, or focus on creating more financial freedom first before making career moves in India? In my heart, I feel that achieving financial independence should be my first priority before diving into career opportunities or starting a business here. What would you do in my situation? I'd love to hear your thoughts or any advice you can offer!
Ans: Hi,

Welcome back to India and Congratulations on taking this big decision to move back to India.

Before I start my response to your queries, just want you to know we share a couple of things in common. I was abroad for a considerable time and returned back to India and I was also in the IT field at that time, before I moved ship to Personal Finance and Financial Planning. So I can relate to some of your concerns, queries and thought process in that regard.

This may be a bit long but hopefully its helpful.
Your current Financial summary -
Cash/Liquid funds - INR 4 Crores
PPF equivalent - INR 70 Lakhs available at age 65
Inherited properties - valued at INR 30 crores no plan to liquidate as of now
Salary/Income - INR 1.3 lakhs per month in hand

As a few critical data points are not mentioned but with few indicators in queries, I will make some assumptions for the same - Age 37 years, Location for housing/work - Metro/2nd tier city.

Lets get a couple of things kept aside for this discussion -
PPF equivalent - INR 70 lakhs > for retirement can grow to an amount between INR 2 Crores (@4% returns) to INR 4.5 Crores (@7% returns), will cover this again when I mention Retirement below.
Inherited Properties - as there is no plan for liquidation, excluding this completely.

Decisions to be made -
1. Investment Options
2. Housing Buy/Rent
3. Financial freedom/independence

Lets go through each of these and I will add more for your consideration as they will have a weightage on all future decisions.

1. Investment Options
A> Commercial real estate with investment on INR 4 Crores and return of INR 1.5 lakhs per month
Pros -
Regular month income
Commercial Real Estate asset

Cons -
Return on Investment is 4.5% before reducing charges for maintenance, may be below 4% net in hand
Rental Income is taxable (added to other incomes and taxed as per slab rate) expect highest tax rate of 30% as total income will exceed INR 30 lakhs (Salary + rent)
All available funds will be deployed

Note - Commercial real estate appreciation is primarily based on location. Capital gains on Commercial real estate attract tax at 20% as of now.

B> Lets consider an alternative approach assuming investment is for a long term which is usually for real estate assets e.g. 20 years
Invest INR 4 Crores in Mutual funds.
A well diversified portfolio can generate 12% returns over the long term. The Corpus after 20 years will be over INR 38 Crores.

But considering your requirement for a monthly income from this investment, lets do another approach. Split your Investment.
Invest INR 2 Crores in a well diversified Mutual Funds portfolio expecting a 12% return - Corpus at the end of 20 years = INR 19+ crores
For regular income, Invest INR 2 Crores in Balanced Advantage mutual funds and considering a modest return of 10% (last 10 years data will show higher returns). Keep investment for 1 year before withdrawing to attract Long term Capital Gains tax (tax efficient approach). After 1 year you can receive INR 1.5 lakhs per month (increasing at 5% annually) for the next 20 years.

Pros -
Investment generates higher rate of return, Corpus growing/compounding at 12% return
Regular month income
Investment returns are more tax efficient
Flexibility to deploy all or partial funds towards building a corpus
Corpus can be liquidated in future much faster and easily than Real estate

Cons -
No real estate asset

Recommendation - Approach B is recommended as this will provide liquidity and appreciation towards wealth creation. This will also provide availability of funds for a new venture as and when required if that becomes a viable option in the future.

2. Housing Buy/Rent
If you plan to stay in India for long and settle down (not clearly indicated considering career options), you can consider buying a house property. But if the work location is not what you believe to be the place where you would like to settle down, then start with a Rental option and over time reconsider location for buying option.

Buying Property
Pros -
Asset is generated
Stability of residence if/when self occupied
Some amount of tax deductions/exemptions can be claimed if Loan is taken

Cons -
A large amount of funds required/blocked for full payment / partial payment (with loan)
EMI on Loan reduces income/funds in hand
EMI is much higher than rent
Locked to the property, change will be expensive

Renting Property
Pros -
Capital is not deployed immediately
Rent can be claimed for tax benefits
Provide opportunity to consider long term housing decision
Difference between EMI and Rent can be Invested to generate a good corpus
Flexibility to move jobs across locations

Cons
No Asset is generated
Rent is an expense
No sense of ownership in the house you stay

So in summary, the decision is more individual and how you perceive the house property as an asset. For flexibility to settle down in your career in India I can recommend to start with a Rental option and I am sure in a few years you will know where and what to buy (if at all) towards your house property. Also Location is again critical towards budget and type of housing to consider.

3. Financial freedom/independence
This is probably more important than we realize. With time if we accumulate debt through loans, and expenses, this is one goal which takes a back seat.
Assuming you have worked on the above 2 goals and finalized your options/approach for them, I would strongly recommend you plan your monthly expenses and cash in/outflows to understand what amount you have in hand that can be considered towards savings for the future.
With a long road ahead in your work life (another 20+ years), Asset allocation needs to be considered when planning to deploy your savings. Equity based investment can provide health returns for investments that are for more than 7 years and a well diversified Mutual Fund portfolio can achieve this. For requirements within 5-7 years do consider debt products to park your money and earn modest returns giving priority to liquidity and safety.

Few very important points are not mentioned but I would like to highlight and you should start considering them immediately.

1. Life Insurance - Buy a Term Life plan for yourself and once your wife starts earning, for her too. The amount needs to be calculated and my final recommendation (last para below) will cover this. Start with INR 50 lakhs and keep adding based on the Financial plan.

2. Health Insurance - Buy a good coverage for Family (even though you may have some with your employer). Recommend to go upto 1 Crore (and there are multiple options Base cover + Top-up covers for this).

3. Emergency Funds - Keep aside at least 6-9 months of expenses as emergency funds in a safe and liquid investment e.g. Fixed Deposits.

4. Your child's education - Within another 1.5 years schooling (pre-primary) will start and the education expenses are not as easily managed now. They will require a plan as they escalate very quickly as the child moves towards higher levels of education. Education inflation is in the range of 12% ~ 15% on average. So depending on what your decide for the school/education institute, this becomes a considerable amount and if unplanned may erode your corpus very quickly.

5. Though you have mentioned Retirement briefly, the PPF-equivalent amount will not be sufficient for retirement. Retirement typically at 60 years of age demands a corpus to cover the next 20-25 years of lifespan. Considering inflation may be just getting covered by the modest returns on your INR 70 lakhs fund, you are definitely short on the retirement side.

As you can see we have not considered the inherited property in this discussion, it can have a considerable impact towards your over financial plan.

Though I have provided some responses to your individual queries, this will still need a more comprehensive Financial Planning.
Hence I strongly recommend you approach a Certified Financial Planner and go through the process to arrive at a Financial plan which will be in sync with your Life plan. A CFP will take into account all aspects of your personal preferences and guide you towards various options and alternatives you can consider. The comprehensive Financial plan will include/cover all aspects of Investment management, Risk management (life and health Insurance), Retirement planning and Tax management - a tax efficient approach towards your requirements. Please remember just as Life is ever changing and evolving for each of us, so will your Financial plan require the changes and evolution to stay relevant for you, and this is where a CFP will add the most value when you have a long association. A CFP will plan and re-plan your goals and its requirements over the years and provide options and recommend the amounts and product categories to consider for each of them.

Best wishes for you to settle down and hope the above has provided a start towards it.

Thanks & Regards
Janak Patel
Certified Financial Planner.

...Read more

Ramalingam

Ramalingam Kalirajan  |7922 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on Feb 10, 2025

Asked by Anonymous - Feb 08, 2025Hindi
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Money
Hi, We will be having 15 Lakhs in hand by April 3rd week and can hold for next 3 years as we are planning to build a house at a tier 2 city - Coimbatore because I don't believe in flats system for a longer run as I am skeptical on the Uds and re-construction in the future. Also, monthly we can invest 15k in mutual funds and 80k for which we have decided to go for RD (conservative approach). Some of the apps are providing attractive offers to get higher FD returns from small finance banks (Ujjivan and North East Sf bank etc) , should we invest or to stick with HDFC and ICICI banks. Provide us a mix of plan (debt, equity and FD if possible) for 15 lacs and time horizon is 3 years. Thanks for your help!
Ans: Your approach is well thought out. You have a clear goal and a conservative mindset for short-term funds. Since the time frame is only three years, capital protection is the priority. Equity is not recommended for short durations due to volatility. A balanced mix of debt, FD, and liquid instruments will be suitable.

Allocation Strategy
Fixed Deposits (FDs) – 50% (Rs. 7.5 Lakhs)

Large banks like HDFC, ICICI, and SBI are safer for significant amounts.

Small finance banks offer higher interest, but risk levels are slightly higher.

Consider splitting FD amounts across large banks and reputed small finance banks.

Prefer banks with high credit ratings and check premature withdrawal terms.

Debt Mutual Funds – 30% (Rs. 4.5 Lakhs)

Choose high-quality short-duration funds with low credit risk.

Avoid long-duration debt funds as they are sensitive to interest rate changes.

Ensure the fund has a stable past record and consistent returns.

Ultra Short-Term/Liquid Funds – 20% (Rs. 3 Lakhs)

Suitable for flexibility and better returns than savings accounts.
Provides liquidity in case of urgent requirements.
Low risk compared to other debt instruments.
Monthly Investment Plan
Recurring Deposit (RD) – Rs. 80,000 per month

A conservative option ensuring stability.

Good for funds that need to be available within 3 years.

Choose banks offering competitive interest rates.

Mutual Fund SIP – Rs. 15,000 per month

Prefer actively managed equity funds for long-term wealth creation.
Avoid index funds due to lack of active risk management.
Opt for a mix of flexi-cap and mid-cap funds.
Small Finance Banks vs Large Banks
Small finance banks like Ujjivan and North East offer higher FD rates.
They are safe under Rs. 5 lakh due to DICGC insurance.
If investing above Rs. 5 lakh in such banks, evaluate their financial health.
For higher safety, prefer top private and PSU banks.
Tax Considerations
Interest from FDs and RDs is taxable as per your income slab.
Debt fund gains are taxed based on your income slab.
Plan withdrawals strategically to reduce tax burden.
Finally
Capital protection should be the priority for short-term funds.
Diversify into FDs, debt funds, and liquid funds.
Invest in small finance banks cautiously.
Continue SIPs for long-term wealth creation.
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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