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Daughter Wants to Study Mechanics Abroad - Is It the Right Choice?

Dr Pananjay K

Dr Pananjay K Tiwari  | Answer  |Ask -

Study Abroad Expert - Answered on Nov 07, 2024

Dr Pananjay Tiwari is the founder and director of Impel Overseas Education, a Dehradun-based consultancy for students who want to study abroad in the fields of engineering, science, agriculture, medicine, arts and the humanities.
They also guide PhD students who are studying internationally with their research.
Dr Pananjay has 21 years of academic and research experience and has published several books and research papers in various Indian and international journals.
He is a gold medallist with a master’s degree in science and a PhD in environmental sciences from the Hemvati Nandan Bahuguna Garhwal Central University, Uttarakhand.... more
Asked by Anonymous - Oct 26, 2024Hindi
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Dear Dr Pananjay K Tiwari, how are you sir? My daughter has completed her high school in 2024. She is willing to pursue her bachelor's studies in mechanics in abroad. Is it the right decision to do that at this time. Also is uk a good choice to study and the expenses for the tution and living is quite high. Can you suggest me a good country and uni to get admission .....

Ans: Pursuing a bachelor’s degree in mechanics abroad can offer excellent exposure and global job prospects. The UK is a strong choice due to its high-quality education, though expenses can be significant. Germany is an affordable alternative with top engineering programs, particularly for mechanical studies, with some public universities offering low or no tuition fees. Universities like TU Munich and RWTH Aachen are well-regarded and popular among international students.
For more details you can visit us at www.shreeoverseaseducation.com
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Hi , I am 40 years married and have one child residing in Bangalore. I have 30 lakh in PPF , 32 lakh in PF and 15 Lakh in MF and around 40 Lakh in Shares. A flat in different city of value around 60 lakh I have two emi for total 67000 per month running for next 3 years. Rent is 35k per month. Income around 3 lakh per month. I am planning to buy flat , 2.1 cr taking loan 1.5 cr for 20 years. Remaining 60 lakh as personal financing for flat purchase with income for next 2 years. Please advise what I can do to manage my finance and build corpus for saving as well
Ans: Hello;

Your monthly expenses:
Current EMIs: 67000
New EMI: ~133000
Rent: 35000
Household expenses:~ 50000
Total monthly Expense: 285000
Total monthly Income:~ 300000

You have hardly any income left for investments.

If I would have been in your place, I would have settled earlier loans before venturing into a new home loan, using part of the savings.

Also I would have sold the flat in other city and used the sale proceeds towards down payment of new house purchase.

This will ensure that my current investments remain mostly untouched(except loan prepayment).

I get exemption from long term capital gain arising from sale of old flat since reinvested into new residence(As per provisions of ITax Act).

My EMI burden will be much lesser and I can invest aggressively in mutual funds and NPS for:
1. Kid higher education &
2. Retirement

This was my perspective.

You may have different approach but key is to ensure reasonable amount of debt so that you have disposable income left for investments towards
future goals.

Happy Investing;
X: @mars_invest

...Read more

Milind

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Insurance, Stocks, MF, PF Expert - Answered on Jan 23, 2025

Asked by Anonymous - Jan 23, 2025Hindi
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Hi , I am 40 years married and have one child residing in Bangalore. I have 30 lakh in PPF , 32 lakh in PF and 15 Lakh in MF and around 40 Lakh in Shares. A flat in different city of value around 60 lakh I have two emi for total 67000 per month running for next 3 years. Rent is 35k per month. Income around 3 lakh per month. I am planning to buy flat , 2.1 cr taking loan 1.5 cr for 20 years. Remaining 60 lakh as personal financing for flat purchase with income for next 2 years. Please advise what I can do to manage my finance and build corpus for saving as well
Ans: Hello;

Your monthly expenses:
Current EMIs: 67000
New EMI: ~133000
Rent: 35000
Household expenses:~ 50000
Total monthly Expense: 285000
Total monthly Income:~ 300000

You have hardly any income left for investments.

If I would have been in your place, I would have settled earlier loans before venturing into a new home loan, using part of the savings.

Also I would have sold the flat in other city and used the sale proceeds towards down payment of new house purchase.

This will ensure that my current investments remain mostly untouched(except loan prepayment).

I get exemption from long term capital gain arising from sale of old flat since reinvested into new residence(As per provisions of ITax Act).

My EMI burden will be much lesser and I can invest aggressively in mutual funds and NPS for:
1. Kid higher education &
2. Retirement

This was my perspective.

You may have different approach but key is to ensure reasonable amount of debt so that you have disposable income left for investments towards
future goals.

Happy Investing;
X: @mars_invest

...Read more

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