Xaviers Kolkata or O.P. Jindal for BBA? Seeking advice for my son's admission.

Ans: Please elaborate on the situation of dual marksheets so that I can guide you accordingly.

Ans: Hi
if you value the NIT tag and are thinking long-term (e.g., MS abroad, national-level placements), then NIT Jalandhar has the edge.

prefer PEC if You want better exposure to IT companies and startups in the Chandigarh-Mohali region.

If you want better better package immediately at the placements then PEC will be a better choice. Avg package is around 2L higher here.

Ans: hi
The closing ranks for various CSE-related branches at MUJ in 2024 were as follows:
Computer Science and Engineering: 19,857
CSE (Artificial Intelligence & Machine Learning): 24,524
CSE (Cyber Security): 32,867
CSE (Data Science): 30,737
CSE (Internet of Things and Intelligent Systems): 47,830

Based on your score your rank can somewhere under 36K.

Ans: Yes you can appear all subject through NIOS but at this percentile in JEE, seat through josaa seems very tough.

Ans: Hi
12th Boards Eligibility:
NITs/IIITs/GFTIs me admission ke liye aapke 12th board me:
75% marks (general/OBC) ya
65% marks (SC/ST) hone chahiye ya phir
Aapka naam JEE Main Top 20 Percentile me aana chahiye apne board ke hisaab se. to aapko admission mil sakta hai.

Ans: Ashish
koi dikkat nahi aayegi aapko josaa counselling mey. Aap bina kisi tension aur sankoch k JOSAA mey bhaag lijiye.

Ans: Hello Suhani
Yes, you can apply next year. Clear your boards this year itself and you will be eligible for both.

Ans: Hi,

To repay loan in 5-6 years time, you will need the outstanding balance of your loan at that time.

Based on calculations of EMI amount of 50K, loan amount of 60 lacs and tenure of 25 years, the outstanding balance amount comes to about 55 lacs (after 5 years).

You currently have LIC and Gold which you cannot use, so lets not consider them.
Your Mutual fund - currently 1.4 lacs will grow to 2.5 lacs (assuming 12% returns).

This means you need to have 52.5 lacs accumulated from other sources.
Lets assume you start investing with a return of 12% for 5 years, you will need to invest 64K to accumulate 52.5 lacs.

I have shown some calculations to give you an idea of what will be required to achieve your goal. But please understand, numbers are numbers and in life everything is not linear and go as we expect. I am not sure if you can even put up with monthly investment of 64K as you are left with 1 lac (after paying EMI) and there are other regular expenses for home and family.

So unless you have other options, which can help towards early payment of loan, I would recommend that you start with the maximum possible investment after your expenses and accumulate as much as possible over the 5-6 years.
There after, you can see if you have reached a respectable amount to reduce your loan burden and take appropriate decision.
I have advised many individuals to continue saving/investing and accumulate a corpus for the future keeping the home loan ongoing. You continue to get some tax benefit on home loan repayment and your interest payment is at a lower rate compared to your investments when you consider over 5 years of investment.

I suggest you connect with a CFP for a closer look at your situation and take guidance on a more realistic timeline to achieve your objectives keeping in mind the risks. A CFP can provide alternatives based on your individual circumstances.

Thanks & Regards
Janak Patel
Certified Financial Planner.

Ans: You are 42, married, with two young sons. You have a stable income of Rs. 16 lakhs per annum and Rs. 20 lakhs in fixed deposits. Since you have no other investments or insurance, this is the right time to take a 360-degree approach to secure your family’s future and build wealth.

Let’s go step-by-step.

 

 

1. Emergency Fund Must Come First
 

Keep at least 6 months of expenses as emergency fund.

 

This gives you safety if income stops suddenly.

 

In your case, Rs. 2.5 to 3 lakhs is a good start.

 

Park this in a sweep-in FD or liquid fund for better liquidity and returns.

 

Do not mix emergency fund with long-term investments.

 
 
2. Use Fixed Deposit Smartly

 

Right now, your FD is the only investment.

 

FD interest is taxable fully as per your slab.

 

In your case, 30% tax eats into FD returns.

 

Instead of keeping full Rs. 20 lakhs in FD, divide it wisely.

 

Keep 3 lakhs for emergency.

 

Shift the rest to long-term growth options gradually.

 

Use a phased withdrawal strategy.

 

Don’t break the FD all at once.

 

Plan monthly STPs (Systematic Transfer Plans) from FD to mutual funds.

 

This reduces market risk and avoids timing mistakes.

 
 
3. Tax Saving Options That Also Build Wealth

 

You have Rs. 90,000 tax deduction.

 

But your total tax benefit can go up to Rs. 1.5 lakhs under 80C.

 

You are not using the full limit.

 

This can be corrected easily.

 

Choose Public Provident Fund (PPF) for guaranteed tax-free corpus.

 

Lock-in is 15 years.

 

You can open it in your name or spouse’s name.

 

Invest Rs. 60,000 to Rs. 80,000 per year here.

 

Balance 80C can go into ELSS (tax-saving mutual funds).

 

These have 3-year lock-in and good long-term returns.

 

PPF gives safety, ELSS gives growth.

 

This combo balances your risk well.

 
 
4. Protecting Family Comes Next

 

No life insurance right now is risky.

 

With two small kids, protection is vital.

 

Buy a term insurance of minimum Rs. 1 crore immediately.

 

Term plan gives large cover at low cost.

 

Don’t mix insurance with investment.

 

No LIC endowment, no ULIP.

 

Only pure term cover.

 

Take health insurance of at least Rs. 10 to Rs. 15 lakhs.

 

Check if your employer gives full family cover.

 

Even then, take your own policy outside employer plan.

 

If you change job, employer cover may go.

 

Start own health cover now to avoid issues later.

 
 
5. Starting Investments Systematically

 

Your FD can act as seed capital.

 

SIP is the best tool to start investing.

 

Begin with Rs. 20,000 to Rs. 30,000 monthly.

 

Diversify across mutual fund types.

 

Don’t invest full money in small caps.

 

Use a good mix of large, mid, small and hybrid.

 

Flexi cap fund gives freedom to move between segments.

 

Contra fund gives contrarian growth approach.

 

Avoid index funds as they don’t beat markets in all cycles.

 

Actively managed funds can give better alpha over long term.

 

Let a Certified Financial Planner help you choose.

 

Investing through MFD with CFP ensures tracking and rebalancing.

 

Regular funds offer better service and guidance than direct plans.

 

In direct, no expert supports your journey.

 

Saving Rs. 500 in expense ratio can lose you lakhs in poor decisions.

 
 
6. Plan for Your Sons’ Education

 

Your sons are 4 and 1.

 

You have around 14 to 17 years to plan.

 

This is long enough to use equity.

 

Open a separate SIP for their education.

 

Start with Rs. 5,000 to Rs. 10,000 per child.

 

Increase every year as income grows.

 

This creates a dedicated, untouched fund for higher education.

 
 
7. Retirement Planning Should Start Now

 

You are 42.

 

15 to 18 years left for retirement.

 

Don’t wait till late 40s.

 

Create separate retirement SIP.

 

Start with Rs. 15,000 monthly.

 

Use mix of equity, hybrid and NPS.

 

NPS gives extra tax benefit under Section 80CCD(1B).

 

Up to Rs. 50,000 extra deduction.

 

Tier-1 NPS has lock-in till 60 but helps build discipline.

 

Don’t depend only on PF or pension.

 

Use mutual funds for wealth creation and flexibility.

 

Use NPS for long-term compounding and tax benefits.

 
 
8. Other Useful Suggestions

 

Track your expenses for 3 months.

 

This helps understand your surplus clearly.

 

Don’t keep credit card dues unpaid.

 

Pay full bill every month.

 

Keep 2 to 3 months’ expenses in savings account.

 

Review investments once a year.

 

Increase SIPs when you get hike or bonus.

 

Don’t stop SIPs if market falls.

 

That’s the time wealth gets created.

 

Don't fall for quick return schemes.

 

Follow a goal-based approach.

 

For every goal, assign an investment bucket.

 

No LIC policy means you are free to invest smarter.

 

Avoid endowment and ULIP plans always.

 

Only pure term cover and mutual funds.

 
 
9. Understanding Taxation of Mutual Funds

 

Equity mutual fund gains up to Rs. 1.25 lakhs are tax free.

 

Above Rs. 1.25 lakhs, LTCG taxed at 12.5%.

 

STCG on equity funds taxed at 20%.

 

Debt mutual funds gains taxed as per slab.

 

FD interest fully taxable as per slab.

 

Mutual funds are more tax-efficient than FD.

 

This makes them better for long-term wealth building.

 
 
Finally

 

You have good income and no bad loans.

 

You can save more than most families.

 

FD should not be your only option.

 

Build a mix of safety, insurance, tax saving, and long-term growth.

 

Start small, but stay consistent.

 

With the right plan, you can meet all family goals easily.

 

Take help from a Certified Financial Planner for customised planning.

 

Always follow long-term discipline over short-term greed.

 
Best Regards,
 
K. Ramalingam, MBA, CFP,
 
Chief Financial Planner,
 
www.holisticinvestment.in
https://www.youtube.com/@HolisticInvestment