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Career Coach  |39 Answers  |Ask -

Workplace Expert - Answered on Mar 12, 2024

Career Coach is a recruitment expert with experience in hiring, training, upskilling and leadership management. ... more
Asked by Anonymous - Mar 07, 2024Hindi
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I failed a job interview for the 4th time this year. I am feeling very embarrassed to face my wife who is earning better than me. She has been single handedly taking care of the family and our kids for over a year now. I an MBA with 7 years of wok experience but I lost my job in COVID and have been struggling in my career doing odd freelancing and consulting jobs. I have no money to start a business. I am trying hard to get a job where I can showcase my skills and get a permanent source of income. What should I do to improve my chances of getting a job? Pls suggest something

Ans: I'm sorry to hear about the challenges you're facing in your job search. It's understandable to feel discouraged after multiple rejections, but it's important to remember that setbacks are a natural part of the job-seeking process, especially during difficult times like the COVID-19 pandemic.

Here are some steps you can take to improve your chances of securing a job:

1. Reflect on past interviews: Take some time to reflect on your previous job interviews. Identify any patterns or recurring issues that might be contributing to your rejections. Are there specific skills or experiences employers are looking for that you might be lacking? Are there areas of your interview performance that you could improve upon?

2. Update your resume and LinkedIn profile: Make sure your resume and LinkedIn profile are up-to-date and tailored to the types of roles you're applying for. Highlight your relevant skills, experiences, and achievements that demonstrate your value to potential employers.

3. Expand your job search: Don't limit yourself to just one industry or type of role. Consider exploring opportunities in related fields or industries where your skills and experience could be transferable. Cast a wider net in your job search to increase your chances of finding suitable opportunities.

4. Networking: Reach out to your professional network for support and advice. Attend industry events, job fairs, and networking meetups to connect with professionals in your field. Networking can often lead to valuable job opportunities that may not be advertised publicly.

5. Skill development: Consider investing time in developing new skills or upgrading existing ones that are in demand in your target industry. Online courses, certifications, or workshops can help you stay competitive in today's job market.

6. Practice interview skills: Practice interviewing with friends, family members, or a career coach to improve your interview skills and build confidence. Mock interviews can help you refine your responses to common interview questions and better articulate your qualifications and experiences.

7. Stay positive and resilient: Job searching can be challenging, especially during tough times. Stay positive and resilient in the face of rejection. Remember that each rejection brings you one step closer to finding the right opportunity. Stay focused on your goals and keep pushing forward.

8. Consider temporary or contract work: In the meantime, consider taking on temporary or contract work to generate income and gain valuable experience while continuing your job search. Temporary assignments can sometimes lead to permanent job opportunities and help you expand your professional network.

9. Seek support: Don't hesitate to seek support from your wife, family, or friends during this challenging time. Open up to them about your struggles and lean on them for emotional support and encouragement.

Remember that your worth is not defined by your job title or salary. Stay focused on your strengths, continue to persevere, and keep working towards your goals. With determination and effort, you'll eventually find the right opportunity that aligns with your skills and aspirations.
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Abhishek

Abhishek Shah  |76 Answers  |Ask -

HR Expert - Answered on Jul 04, 2023

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hi Abhishek , i am having 22+ year experience and working as a software delivery head, but salary is like nothing, so what is to do to get good salary job, even i have a good knowledge also, but not able to get the job, and due to this my marriage is also not happening, i got divorce in 2007, but since that i am not able to do the 2nd marriage, i am trying and not able to get the 2nd marriage, so can you please guide please.
Ans: Hello Sunil,

I understand that you're experiencing difficulties in finding a job with a good salary despite having over 22 years of experience as a software delivery head. I can provide you with some suggestions that may help you in your job search and personal life:

Update your resume: Make sure your resume highlights your extensive experience, achievements, and skills. Tailor it to each job application, emphasizing relevant accomplishments.

Networking: Connect with professionals in your industry through networking events, online platforms, and professional associations. Building relationships and seeking referrals can increase your chances of finding job opportunities.

Job search platforms: Utilize popular job search platforms and websites specific to your industry. Regularly check these platforms for new job openings and apply to positions that match your skills and experience.

Stay updated: Keep yourself updated with the latest industry trends, technologies, and certifications. Attend conferences, workshops, and webinars to enhance your knowledge and stay competitive in the job market.

Polish your interviewing skills: Practice common interview questions and prepare your responses. Highlight your achievements and how your skills align with the requirements of the job you're applying for.

Consider contract work or consulting: Explore opportunities for contract work or consulting gigs, as they often offer higher rates and can lead to permanent positions or other opportunities.

Professional development: Identify any gaps in your skills and consider taking courses or certifications to update your knowledge. This demonstrates your commitment to professional growth and can make you more marketable.

Regarding your personal life and desire for a second marriage, it's important to prioritize your emotional well-being and self-care. Here are a few suggestions:

Reflect and heal: Take time to reflect on your past relationship and the reasons for the divorce. Seek closure and consider therapy or counseling if needed to heal and move forward.

Focus on personal growth: Engage in activities that bring you joy, pursue hobbies, and invest in self-improvement. Cultivate your interests and passions, which can make you more confident and attractive to potential partners.

Expand your social circle: Participate in social activities, join clubs or groups related to your interests, and attend events where you can meet new people. Expanding your social circle increases the likelihood of meeting someone compatible.

Online dating: Consider using online dating platforms to connect with potential partners. Be honest about your intentions and take the time to get to know people before committing to a serious relationship.

Seek professional help if needed: If you're struggling emotionally or finding it challenging to move forward, consider seeking guidance from a therapist or relationship counselor. They can provide support and assist you in navigating your personal journey.

Remember, finding a job with a good salary and a fulfilling personal life takes time and perseverance. Stay positive, believe in your abilities, and keep working towards your goals.

Regards,
Abhishek Shah

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Archana

Archana Deshpande  |31 Answers  |Ask -

Image Coach, Soft Skills Trainer - Answered on Mar 06, 2024

Asked by Anonymous - Feb 26, 2024Hindi
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I am a 23 year old BTech graduate from Mumbai, jobless since a year now. I have applied to several jobs and attended 12 interviews in the last 3 months. Either the HR doesn't call or there is no feedback at all. I am feeling very low and dejected. I want to know if there is anything I can do to improve myself and get a job soon. How can I boost my self-confidence and self-worth? Pls help
Ans: Hi!! You are still young and it's just the beginning for you, don't feel dejected pls. There is always something to learn from a rejection ,be supremely self aware and be aware of the interviewer ,read other's body language and master your own body language to give out the right messages. See if you can learn interview skills form an expert. Make notes after every interview, rate yourself on-
1. your confidence level( the first impression you gave, your clothing, your shoes, how you entered the room, everything makes a difference)
2. the answers you gave
3. interviewer's reaction to your answers
4. how truthful and honest you were
5. was this better than your last interview
(you can keep adding to your list)
The only way to boost your self confidence and self worth is to believe that you are worthy of all good things in the world. Give yourself lot of self love, there are talents in you which no other person has, look for that! Look at yourself in the mirror every morning, affirm all the things you want in yourself and for yourself!!Just google " self affirmations" and make your own list of affirmations... ....give yourself lot of positive strokes throughout the day, be your best cheer leader, pat yourself on the back for every good act. All the best...remember to be your best cheer leader!!

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Sushil

Sushil Sukhwani  |337 Answers  |Ask -

Study Abroad Expert - Answered on May 08, 2024

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Hi Sushil My daughter appeared for her masters in counseling Psychology. What are the option from here that she can opt for.
Ans: Hello Rahmatbi,

To begin with, thank you for contacting us. I am happy to hear that your daughter has appeared for her Masters in Counseling Psychology. As an answer to your query, I would like to tell you that post completing her masters in counseling psychology, there are a number of options that your daughter can think about.

Your daughter can take up a job as a licensed counselor or therapist, wherein she can work with clients in varied environments viz., community mental health centers, schools, hospitals, or private practice. If she is interested in a particular field of counseling viz., substance abuse counseling, marriage and family therapy, or trauma therapy, she can pursue additional training or certifications to acquire expertise in that field. Your daughter can also choose to pursue a Doctor of Philosophy (Ph.D.) or Doctor of Psychology (Psy.D.) in Psychology if research or academia is what interests her. Remember that this can result in possibilities for conducting research, teaching, or even working in clinical environments that require a doctoral degree. Having gained experience, your daughter can undertake leadership or supervisory roles in counseling organizations, where she would be responsible for managing programs or supervising the work of other counselors. Your daughter can also offer mental health consultation services to organizations, enterprises, or educational institutions. She can also conduct training sessions for experts in relevant disciplines. There are a number of nonprofit organizations or advocacy groups that address mental health concerns, offer counseling, community outreach, or push for modifications to the law. Your daughter can consider working here. Given the growing popularity of teletherapy, your daughter can look into possibilities to deliver counseling services online, either individually or via platforms that connect clients with therapists. Moreover, if writing or public speaking is what interests her, your daughter can give lectures at conferences, write articles for mental health periodicals, or even publish books on counseling psychology themes.

In addition to the ones mentioned above, there are a number of other possibilities. I would like to tell you that your daughter’s abilities, interests, and professional objectives, will play a key role in deciding which option is ideal for her. I would suggest that she looks into various opportunities, acquires varied experiences, and keeps learning and advancing in her field.

For more information, you can visit our website.

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Ramalingam

Ramalingam Kalirajan  |1669 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on May 08, 2024

Asked by Anonymous - Apr 16, 2024Hindi
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Hi, I have 5 lac rs monthly in hand, rs 1.2 crores in equity and 85 lacs in PF. Another 20 lacs in NPS and ppf. I am 49 years now and would like to retire early. I can save at least 2.5 lacs a month. Share the investment strategy so that I will have minimum 2 lac monthly income after my retirement covering inflation for next 25 years.
Ans: It's great to hear that you're thinking about retirement planning. Here's a strategy to help you achieve your goal of a minimum monthly income of 2 lakhs after retirement:
1. Diversify Investments: Given your substantial monthly income and existing investments, continue diversifying your portfolio across various asset classes such as equities, bonds, real estate investment trusts (REITs), and fixed income instruments.
2. Equity Investments: Since you have a significant portion of your wealth in equities, focus on investing in blue-chip stocks, dividend-paying stocks, and mutual funds with a track record of consistent performance. Consider allocating a portion of your monthly savings to SIPs in well-managed equity funds to benefit from compounding over time.
3. Fixed Income: To generate a steady income stream during retirement, consider investing in fixed income instruments like government bonds, corporate bonds, and fixed deposits. Additionally, explore debt mutual funds that offer higher returns than traditional fixed deposits while maintaining liquidity.
4. Real Estate: Given your substantial savings, consider investing in income-generating real estate properties such as rental apartments, commercial spaces, or REITs. Real estate can provide a stable source of passive income, which can supplement your retirement income.
5. Retirement Accounts: Maximize contributions to retirement accounts like the National Pension System (NPS) and Public Provident Fund (PPF) to benefit from tax advantages and build a corpus for retirement. Since you already have significant savings in these accounts, continue contributing regularly to maximize their growth potential.
6. Review and Adjust: Regularly review your investment portfolio and make necessary adjustments based on changing market conditions, your risk tolerance, and financial goals. As you approach retirement, gradually shift towards more conservative investments to protect your capital and ensure a steady income stream.
7. Consult a Financial Advisor: Consider consulting with a Certified Financial Planner to create a comprehensive retirement plan tailored to your specific needs and goals. They can provide personalized advice and help you navigate complex financial decisions, ensuring a comfortable retirement lifestyle.
By following these steps and staying disciplined in your savings and investment approach, you can work towards achieving your goal of a minimum 2 lakh monthly income after retirement, covering inflation for the next 25 years. Remember to stay focused on your long-term objectives and adjust your strategy as needed to stay on track.

...Read more

Ramalingam

Ramalingam Kalirajan  |1669 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on May 08, 2024

Asked by Anonymous - Apr 18, 2024Hindi
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I am 23 years old now earning 25k how and in which should i start investing as a beginner ?
Ans: It's fantastic that you're thinking about investing at such a young age. Here's a beginner-friendly guide to get you started:

Emergency Fund: Before you begin investing, ensure you have an emergency fund in place to cover unexpected expenses. Aim to save at least 3 to 6 months' worth of living expenses in a high-yield savings account.
Start Small: Since you're just starting, it's okay to begin with small amounts. Consider setting aside a portion of your income, such as 10-20%, for investing each month.
Understand Your Goals: Determine your financial goals, whether it's saving for a house, retirement, or travel. Your goals will help you decide where to invest and how much risk you can take.
Explore Investment Options: As a beginner, you can start with low-cost investment options like mutual funds or exchange-traded funds (ETFs). These allow you to invest in a diversified portfolio without needing a large amount of money.
Consider SIPs: Systematic Investment Plans (SIPs) are a popular way to invest in mutual funds regularly. You can start with SIPs that match your risk tolerance and investment goals.
Educate Yourself: Take the time to learn about different investment options, risk management, and personal finance concepts. There are plenty of resources available online, including books, articles, and courses.
Seek Professional Advice: If you're unsure about where to start, consider consulting with a Certified Financial Planner. They can help you create a personalized investment plan based on your financial situation and goals.
Remember, investing is a long-term journey, and it's essential to stay patient and disciplined. Start early, stay consistent, and you'll be on your way to building wealth for the future. Good luck!

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Ramalingam

Ramalingam Kalirajan  |1669 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on May 08, 2024

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Hi I have been investing 10 funds not sip.just 3000sip to 360(94000)now focused. Axis small.1.66lac sofar.parakh flexi 150lac or more nd navi next 50 1lac8000.pgim flexi97000.edelweisss balanced 86000 navy us 100 nasadaq.mira large 59000 now nd grow small 250 index 10000 only( new).all the above funds started in 2021. Pls tell me iam the right track.any funds to drop. My name is dev 54yrs and iam also investing in stocks around 7lacs .nd so far. I have fd also rental income.
Ans: Hi Dev! It's great to see your commitment to investing and diversifying your portfolio. Here are some insights to help you stay on track:
• Diversification: Your portfolio seems well-diversified across various mutual funds, which is essential for managing risk. Keep in mind the importance of diversification to spread risk and optimize returns.
• Review: Regularly reviewing your portfolio is crucial to ensure it aligns with your financial goals and risk tolerance. Consider assessing the performance of each fund and its contribution to your overall portfolio returns.
• Consolidation: With a relatively large number of funds, it might be beneficial to assess whether some funds are overlapping in terms of holdings or objectives. Consider consolidating funds with similar objectives to simplify your portfolio and reduce complexity.
• Monitoring: Keep a close eye on the performance of your investments, including stocks and mutual funds. Stay informed about market trends and any changes in fund management or strategy that may impact your investments.
• Professional Advice: Consider consulting with a Certified Financial Planner to review your portfolio comprehensively. They can offer personalized advice based on your financial goals, risk tolerance, and investment horizon.
• Risk Management: Ensure that your portfolio is balanced in terms of risk exposure. While some allocation to stocks can offer growth potential, make sure it aligns with your risk tolerance, especially considering your age and investment horizon.
Overall, you're on the right track with your investments. By regularly reviewing and adjusting your portfolio as needed, you can work towards achieving your financial goals. Keep up the good work!

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Ramalingam

Ramalingam Kalirajan  |1669 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on May 08, 2024

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Hi Experts, My parents are senior citizens. They didnt have income and dependent on me. I want to make them independent by creating some regular income around 10k to 15k every month. I can invest a lumpsum of 15L to genrate the returns for them. Please suggest a good return option for my parents. I went througn SIP, SWP and other funds. But im not clear.i can take moderate to low risk. My aim is to provide them some regular income every month. Thanks.
Ans: ! It's admirable that you're seeking ways to ensure financial security for your parents. Here's a tailored suggestion to meet your goal:
• Given your moderate to low risk appetite and the objective of generating regular income for your parents, investing the lump sum of 15 lakhs in a combination of debt mutual funds and Senior Citizen Savings Scheme (SCSS) can be a prudent choice.
• Debt mutual funds offer relatively stable returns compared to equity funds and can be ideal for generating regular income. Opt for debt funds with a focus on short to medium-term instruments to minimize interest rate risk.
• Consider allocating a portion of the lump sum to a well-diversified debt mutual fund portfolio comprising short-duration funds, corporate bond funds, and banking and PSU funds. These funds have the potential to provide regular income through periodic interest payouts.
• Additionally, investing a portion of the lump sum in the Senior Citizen Savings Scheme (SCSS) can offer guaranteed returns along with tax benefits. SCSS is specifically designed for senior citizens and provides a fixed interest rate payable quarterly.
• It's crucial to assess the risk associated with each investment option and ensure adequate diversification to mitigate risks. Regularly review the portfolio's performance and make adjustments as needed to meet your parents' income requirements.
• Lastly, consult with a Certified Financial Planner to tailor an investment strategy that aligns with your parents' financial goals, risk tolerance, and investment horizon. They can provide personalized guidance and help you navigate the complexities of investment options to achieve your desired outcome.
By following these steps, you can create a reliable source of income for your parents and help them achieve financial independence. Best of luck!

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Ramalingam

Ramalingam Kalirajan  |1669 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on May 08, 2024

Asked by Anonymous - Apr 14, 2024Hindi
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Hi, I earn 1.5 lakh/month. I want to know what all investment should i do in balanced form(PPF, NPS, SIP). I majorly want to know what mutual fund to pick for long term (kind name the fund i should pick). Also I have 15lakh lumpsump in acc, so where should i invest it for better return
Ans: It's great to see your interest in financial planning. Let's chart out a balanced investment strategy for you:
• With your monthly income of 1.5 lakhs, you're in a strong position to build wealth steadily over time. It's wise to allocate a portion of your income towards various investment avenues to achieve a balanced portfolio.
• Mutual funds offer a great opportunity for long-term wealth creation. Consider investing in a mix of large-cap, mid-cap, and flexi-cap equity funds through Systematic Investment Plans (SIPs). These funds have the potential to generate higher returns over the long term compared to traditional investment options like PPF and NPS.
• When selecting mutual funds, opt for well-established funds with a proven track record of delivering consistent returns over different market cycles. Look for funds managed by experienced fund managers and backed by reputable fund houses. Diversifying your mutual fund investments across different categories can help mitigate risks and maximize returns.
• As for your lump sum of 15 lakhs, consider investing it in a combination of equity and debt mutual funds based on your risk appetite and investment horizon. Equity funds offer the potential for higher returns over the long term, while debt funds provide stability and income generation.
• It's essential to align your investment strategy with your financial goals, risk tolerance, and investment horizon. Regularly review your portfolio to ensure it remains on track to meet your objectives and make adjustments as needed.
Remember, investing is a marathon, not a sprint. Stay disciplined, stick to your investment plan, and seek guidance from a Certified Financial Planner if needed to make informed decisions about your financial future. Keep up the good work!

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Ramalingam

Ramalingam Kalirajan  |1669 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on May 08, 2024

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Hello, My name is AB from Delhi. My age is 34. I have my own house. Having rented income of 20k. In my family my wife she is 33 and Housewife, my daughter 10months and planning for a baby in a year. I am earning around 50k month. No loan, no debt nothing. I have 2 lacs in emergency fund. I am having 15k medical insurance for all 3 of us of 5lac and will increase it to 10lakh or more from next year. Term insurance of 1crore. Sukanya opened in April 2024. I am doing stock market but not more than 50k overall and not planning to invest more. I am doing 6 SIPs. Below are the details. All are Direct Plans. PFA Mirae large and Mid - 2500 (22nd Nov 2023) Parag Flexi cap - 3500 (22nd Nov 2023) Quant small cap - 3000 (18th Dec 2023) HDFC Flexi Cap - 2500 (15th March 2024) Nippon India small cap - 2500(28th March 2024) UTI Nifty 50 Index Fund - 2500(26th March) I have some 25lacs with me because I sold one of my property. So planning for property is there anything else I can do with 25lacs? My questions are as follows:- 1. Review my portfolio I will invest Max 20k a month Should I add more SIP's or should I change some from above? 2. My goals are my children's education and marriage. 3. Wealthy and Retirement plan 4. Lumsum Amount 5. Need some lacs in every 4-5 years like for admission or for some emergency. 6. Want a luxury life for my family. 7. After 20 years I want 2.5cr. How much and where I have to invest?
Ans: It's evident that you've taken proactive steps to secure your family's financial future, AB. Let's address your questions systematically:
1. Portfolio Review: Your current portfolio reflects a well-diversified approach with exposure to large-cap, mid-cap, flexi-cap, and small-cap funds. However, since your investment horizon is long-term, you might consider adding more mid-cap and small-cap funds to potentially enhance returns. Additionally, periodically review your portfolio to ensure it remains aligned with your goals and risk tolerance.
2. Children's Education and Marriage: Your SIP investments can serve as a solid foundation for funding your children's education and marriage. Consider increasing your SIP contributions gradually over time to meet these goals effectively.
3. Wealth and Retirement Planning: Given your current financial situation and goals, focusing on building a diversified investment portfolio comprising equity, debt, and other asset classes is crucial. Consult a Certified Financial Planner to develop a comprehensive wealth and retirement plan tailored to your specific needs and aspirations.
4. Lump Sum Investments: With the 25 lakhs from selling your property, consider diversifying your investments across various asset classes such as mutual funds, stocks, bonds, and fixed deposits to optimize returns and manage risk.
5. Emergency Fund: Your emergency fund of 2 lakhs is a prudent move. As your financial responsibilities increase, consider gradually increasing this fund to cover at least 6-12 months of living expenses.
6. Luxury Life: Achieving a luxury lifestyle requires careful financial planning and disciplined savings. Allocate a portion of your monthly income towards discretionary expenses while ensuring you prioritize long-term goals.
7. Long-term Wealth Target: To achieve your target of 2.5 crores in 20 years, focus on consistent investing in equity mutual funds, which historically have provided higher returns over the long term. Review your portfolio periodically and make adjustments as needed to stay on track towards your wealth accumulation goal.
Remember, financial planning is an ongoing process, and it's essential to periodically review and adjust your strategy based on changes in your life circumstances, financial goals, and market conditions. By staying disciplined and seeking professional guidance when needed, you can work towards building a secure financial future for you and your family.

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Ramalingam

Ramalingam Kalirajan  |1669 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on May 08, 2024

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Hi , i am working in PSU Bank , i am presently investing 30k - 20k in mutual funds ( 5k each in parag flexi, hdfc flexi and mirae mid large , 2k in quant mid ,3k in quant small cap and i am doing RD of 7k per month and 3k in ppf , what do u think about my investment and any changes u think that i shall take ? My goal is long term wealth creation.
Ans: It's commendable that you're actively investing towards your long-term wealth creation goals. Your disciplined approach towards investing is a positive step in securing your financial future.

Diversifying your investments across various asset classes, such as mutual funds, RDs, and PPF, is a prudent strategy for long-term wealth accumulation. By spreading your investments, you're effectively reducing risks and optimizing returns.

Mutual funds offer the benefit of professional management and access to a diversified portfolio of securities. Actively managed funds, in particular, are managed by experienced fund managers who actively select and manage investments to achieve the fund's objectives. This can potentially lead to higher returns compared to passive investment options like index funds.

However, it's essential to periodically review your investment portfolio to ensure it remains aligned with your financial goals and risk tolerance. Consider consulting with a Certified Financial Planner (CFP) who can provide personalized advice tailored to your specific circumstances.

While RDs and PPFs offer stability and security, they may not provide the same level of growth potential as equity mutual funds. Therefore, it's crucial to strike the right balance between risk and return based on your investment horizon and financial objectives.

As you continue your investment journey, stay focused on your long-term goals and remain disciplined in your approach. Regularly monitor your investments and make adjustments as necessary to keep pace with changing market conditions and personal circumstances.

Remember, wealth creation is a journey that requires patience, diligence, and a well-thought-out investment strategy. By staying committed to your financial plan and seeking professional guidance when needed, you're on the right path towards achieving your financial aspirations.

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Ramalingam

Ramalingam Kalirajan  |1669 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on May 08, 2024

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Hello Sir. I'm 38 years old.I am investing via SIP in SBI SMALL CAP FUND (2500 pm)since 2023 . Now i have got extra salary 6000/- Rs for month .so I want invest this amount via sip.Please Give me suggestions some good funds
Ans: Investing is a vital step towards securing your financial future, and it's wonderful that you're considering it. Making informed decisions about your investments is crucial for long-term financial well-being.

It's understandable to feel overwhelmed or uncertain, especially if you're new to investing. However, with careful planning and guidance, you can navigate the world of investments with confidence.

As a Certified Financial Planner, my goal is to assist you in achieving your financial objectives while minimizing risks and maximizing returns. I'm here to provide you with personalized advice tailored to your unique circumstances and goals.

While real estate may seem like an attractive investment option, it's essential to recognize the potential drawbacks, such as illiquidity, high transaction costs, and market volatility. Diversifying your investment portfolio across different asset classes can help mitigate risks and optimize returns.

When it comes to mutual funds, actively managed funds offer the benefit of professional management and the potential to outperform the market. These funds are managed by experienced fund managers who actively select and manage investments to achieve the fund's objectives.

On the other hand, index funds, while low-cost and passively managed, may lack the potential for outperformance and may not be suitable for all investors. Additionally, the performance of index funds is directly linked to the underlying index, limiting flexibility and potential returns.

Direct funds, while appealing for their lower expense ratios, require investors to make investment decisions independently. However, investing through a Certified Financial Planner who is also a Mutual Fund Distributor (MFD) can provide valuable expertise and guidance, ensuring that your investment strategy aligns with your financial goals and risk tolerance.

Remember, the key to successful investing lies in careful planning, diversification, and seeking professional advice when needed. With a well-thought-out investment strategy and disciplined approach, you can work towards achieving your financial aspirations and securing a brighter future.

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Ramalingam

Ramalingam Kalirajan  |1669 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on May 08, 2024

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I am 40 years old, working as a Chief Manager in a PSU Bank. My net monthly income is around 1.60 lakhs p.m. I have savings and investments of Rs 20 lakhs in Various MFs via SIPs. Rs 3.00 lakhs in PPF, Rs 23.00 lakhs in PF, Rs 17.00 lakhs in bank deposits and Rs 4.00 lakhs in stocks. I want to retire at 50. How much corpus do I need and how to invest to achieve it in the next 10 years ? (I am a single father, having a daughter and my parents to take care of)
Ans: It's great that you're planning ahead for your retirement and considering your responsibilities towards your daughter and parents. Here's a strategy to help you achieve your retirement goal:

Calculate Retirement Corpus: Estimate your retirement expenses based on your current lifestyle and expected future needs. Consider factors like inflation, healthcare costs, and any additional expenses for your daughter's education and your parents' care. Aim for a retirement corpus that can sustain your lifestyle and cover these expenses.
Investment Strategy: Given your 10-year time horizon, you can adopt an aggressive investment approach with a focus on wealth accumulation. Since you already have investments in various MFs, PPF, PF, bank deposits, and stocks, ensure that your portfolio is diversified across asset classes to manage risk effectively.
Asset Allocation: Review your existing asset allocation and make adjustments as needed to align with your retirement goals and risk tolerance. Consider allocating a higher percentage of your portfolio to equities for long-term growth potential, supplemented by fixed income investments for stability.
Maximize Contributions: Continue to maximize contributions to your PF and PPF accounts, as they offer tax benefits and provide a secure foundation for your retirement savings. Additionally, explore other tax-efficient investment options like NPS (National Pension System) to further boost your retirement corpus.
Regular Review: Regularly review your investment portfolio to ensure it remains aligned with your retirement goals and risk tolerance. Rebalance your portfolio periodically to maintain the desired asset allocation and take advantage of market opportunities.
Professional Advice: Consider consulting with a Certified Financial Planner who can evaluate your financial situation, assess your retirement needs, and recommend a customized investment strategy tailored to your goals and circumstances.
By following these steps and staying disciplined in your savings and investment approach, you can work towards building a sufficient retirement corpus to retire comfortably at 50 while fulfilling your responsibilities towards your daughter and parents. Remember, consistency and patience are key to achieving your long-term financial goals.

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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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