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Study Abroad Expert - Answered on Aug 16, 2023

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
vineet Question by vineet on Aug 09, 2023Hindi
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Career

my faughter wants MS or M.Tech in mechateonics in India or abroad so what is good and where shall be apply

Ans: Dear Vineet,

First and foremost, thank you for contacting us. However, we only deal with overseas education. It is critical to select the correct university and location for obtaining a Master's degree in Mechatronics. Mentioned below are some stages and considerations to assist you and your daughter in making an educated decision:

1. Research Initiatives: Begin by investigating the universities and programs that provide a Master's degree in Mechatronics. Search for colleges with reputable engineering and technology departments, especially those with a strong mechatronics or related field emphasis.

2. University Standing and Reputation: Examine the rankings and reputation of universities, particularly those in engineering and technology. Higher ranked institutions frequently have superior faculty, resources, and connections to business.

3. Research and Academia: Research the professors who have expertise in mechatronics and related subjects. The learning experience can be substantially improved by excellent faculty. Additionally, mechatronics research initiatives and projects might be a huge benefit.

4. Location: Take the university's location into consideration. Seek out areas with a strong industrial foundation and cutting-edge technology. This might open up chances for internships, team projects, and prospective employment following graduation.

5. Cost and Financial Aid: Analyze the cost of living and tuition in the nations and colleges that interest you. Additionally, look into any possible scholarships for international students.

6. Language: Examine the language of education. Many institutions in English-speaking nations offer English-language programs, although some may demand knowledge in the native language.

7. Links to Industry: Universities with strong connections to regional businesses might present networking possibilities, internships, and possible job prospects after graduation.

8. Curriculum & Areas of Concentration: Review the course descriptions and curriculum. Your daughter's interests in mechatronics may be matched by specialized courses or concentrations offered by several universities.

9. Infrastructure and Labs: Investigate the workspaces, laboratories, and tools offered for mechatronics projects and research. For this field, practical experience is essential.

10. Alumni Success: Find out where prior program alumni are working currently. This might help you gauge how well the curriculum prepares pupils for the workforce.

Here are several nations noted for their formidable colleges and strong engineering programmes in light of these factors:

• United States: Engineering programs at universities viz., Stanford University, the Massachusetts Institute of Technology (MIT), the University of California--Berkeley, and the Georgia Institute of Technology are renowned.

• Germany: Universities like Technische Universität München (TUM), Rheinisch-Westfälische Technische Hochschule Aachen (RWTH Aachen), and Technische Universität Berlin, which are known for their strong engineering history, provide top-notch engineering programs.

• Canada: Engineering departments at universities like McGill University, University of Toronto, and University of British Columbia are well-known.

• Switzerland: The engineering and technology programs at ETH Zurich and École Polytechnique Fédérale de Lausanne (EPFL) are well-known.

Consider your daughter's academic and career ambitions as well as the family's financial needs when thoroughly researching each university and program. To acquire first-hand knowledge of the programs, it’s also a smart move to get in touch with current students or alumni.

For more information, you can visit our website.
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Asked by Anonymous - Mar 10, 2025Hindi
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Hi, I am 46 years old residing in a B Town in India. I have 2 daughters one 16 years old and second 7 years old. I have Savings of 25 Lakh in my account as emergency find. I have FD of 65 Lakhs. PF, PPF and NPS of 25 Lakhs, Mutual Fund and Shares of 25 Lakhs, Lic policies worth 25 Lakhs, Gold around 1.2 Crores. I have a medical insurance of 20 Lakhs for me and my family, Term insurance of 1Cr. As properties. I own 2 independent houses, 2 flats and 2 plots in Bangalore which has a current value of about 4.5 Cr. In my home town i have 2 Houses, 1 apartment and plots which has a current value of 2.75 Cr. Currently i am drawing a monthly salary of 2 Lakh rupees and get a rent of 30K/ month. I donot have any emi's and my monthly expenses is currently 75K. I am planning to retire at the age of 50. Is my financial condition stable to retire at the age of 50? Thanks for your suggestion in advance.
Ans: Hi,

Lets understand the value of your current Investments at the time of retirement. Below is the list with its current value and (expected rate of return).
Emergency Fund - 25 lakhs (3.5%)
Fixed Deposits - 65 lakhs (7%)
PF/PPF/NPS - 25 lakhs (8%)
MF/Stocks - 25 lakhs (10%)
LIC Policies - 25 lakhs (no change)
Your current investments listed above will achieve a value of 3.5 crore at the time of retirement 4 years from now.

Apart from this you have mentioned properties worth 7.25 Cr. Assuming you will only use/liquidate them if required, so excluding them from consideration for now.

You total income is 2.30 lakhs per month (includes rent) and expenses are 75k per month. So there is potential to add to the above investments for the next 4 years.

I will assume your current expenses are sufficient for the lifestyle you want to continue post retirement.
You will require a corpus on retirement after 4 years to sustain your expenses adjusted with inflation of 6% which will be close to 1 lakh per month (at the time of retirement).
With this starting point, and adjusting for inflation of 6% each year, and life expectancy of 30 years post retirement you need a corpus of approx. 2.5 crore - again assumed this will earn a return of 8% for the 30 years.
If you can invest wisely and generate a slightly higher return of say 10%, the corpus requirement will be 2 crore.

Your current investments at the time of retirement with value of 3.5 crore is sufficient to cover your expenses for the next 30 years inflation adjusted at 6%.
And this is excluding the properties you own and additional investments you can make for the next 4 years.

Summary - You are more than stable as far as your financial state is concerned. You have a strong base to meet your retirement needs and also a potential to create wealth for the generations ahead.

I want to highlight/recommend few points -
1. Increase the medical Insurance for yourself and family to 1Crore as medical expenses will only increase in future.
2. Stop the Term Life Insurance and save the premium for investment. As you have no liabilities and net-worth is high enough to cover any outcomes in life ahead, this premium is a lost cause considering your strong financial state.
3. Revisit the LIC Policies you have and consider surrendering/stopping them if they are not nearing their maturity. They are not giving you enough cover and providing below par returns. So do discuss with a trusted licensed advisor and evaluate them. If they will mature in the next 4 years, ignore this point.
4. Post retirement period is a long duration of 30 years, so do consider getting a good advisor - a Certified Financial Planner who can guide you to plan your retirement well and help you design a portfolio for additional wealth creation as a legacy for your children/dependents.


Thanks & Regards
Janak Patel
Certified Financial Planner.

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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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