Should My Son in Class 10th Focus on JEE or State Board for Science Stream?

Ans: HI VISHAL,
PLAN B?

Ans: You are showing financial discipline even with limited salary.
Let us now build a long-term wealth plan for your retirement, child’s education, and family security.
I will go step-by-step. Simple and clear.

Understanding Your Present Financial Picture
Age: 34 years

Salary: Rs 51,000 per month

Daughter’s age: 2 years 10 months

You have some structured savings.

You are investing in SIPs, NPS, RD, gold.

You have a personal loan till 2030.

Let us now build a strong plan that protects your family and your future.

Step 1: Simplify Your Mutual Fund Strategy
You invest Rs 6,000 in 10 mutual funds.
Each fund is getting only Rs 500.
This is a problem. Too many funds. Too less in each.

Problems with this approach:

Small amount in each fund won’t grow fast.

Hard to track so many schemes.

Funds may overlap in portfolio.

You may hold index funds unknowingly.

Action:

Keep only 3–4 quality funds.

Choose only actively managed equity mutual funds.

Avoid index funds. They don’t have expert guidance.

Index funds follow market blindly.

No protection during market fall.

Active funds are reviewed and managed by experts.

Regular funds come with MFD and CFP support.

Restructure your SIPs like this:

One large and mid-cap fund

One flexi-cap fund

One hybrid equity fund

Total SIP can remain Rs 6,000 per month

Choose regular plans only.
Don’t invest in direct funds.

Direct plans don’t offer goal mapping.
No expert will guide you.
Risk of emotional decisions is higher.
Regular plan offers better structure and help.

Step 2: Review Your Gold Investment Plan
You are investing Rs 500 monthly in e-gold.
Gold is useful, but not a wealth creator.

You are investing with good intention.
But gold is not ideal for child education or retirement.

Reasons:

Gold doesn’t beat inflation over long term

It gives no interest or dividend

Value can stay flat for years

No tax benefit available

Price is volatile during international crises

Action:

Stop gold investment for now

Focus more on mutual funds

You can hold a small amount of gold later

But for wealth building, use equity-based mutual funds

Step 3: Create a Goal-Based Structure
Right now, you are investing in scattered pockets.
We will now organise your savings for real goals.

Your goals are:

Child’s education (college in 15 years)

Retirement (at age 60)

Family security (emergency protection)

Let’s allocate accordingly:

Goal 1: Child Education
You have 15 years time

This is ideal for equity mutual funds

SIP of Rs 3,000 monthly for this goal

Invest only in regular mutual funds

Increase SIP by Rs 500 every year

Avoid child ULIPs or endowment plans.
Returns are poor. Lock-ins are long.

Goal 2: Retirement
You have 26 years to plan

Continue NPS Rs 600 per month

Increase it to Rs 1,000 after 1 year

Also start a second SIP for retirement

Rs 2,000 monthly in equity hybrid mutual fund

NPS alone is not enough

Goal 3: Emergency Fund
You save Rs 6,000 in RD for insurance payments.
That’s good for fixed expenses.
But you need a real emergency fund.

Emergency fund helps in:

Job loss

Family medical issue

Sudden travel or support

Start building Rs 1.5–2 lakh fund.
Use liquid mutual funds, not bank RD.
Save Rs 1,000–2,000 monthly towards this.

Step 4: Loan Repayment Strategy
Your personal loan EMI is Rs 12,961.
It will run till 2030. That’s 6 more years.

Personal loans have high interest.
So this loan eats up your cash flow.
Still, you are managing to invest. That’s good.

Action:

Use yearly bonus or extra income to prepay

Target to close 1 year early

Avoid top-up or new personal loans

Don’t increase EMI. Maintain SIPs as well

Once loan ends, shift EMI amount into SIP

This step will double your SIP strength post-2030.

Step 5: Secure Your Family Properly
You are paying for term insurance (Rs 52,000 yearly).
You are also paying Rs 15,000 yearly for health policy.

Check this carefully:

Is your term insurance a pure term plan?

Or a ULIP or return-of-premium policy?

If it is ULIP or return plan, you must replace it.
Buy pure term insurance.
It’s cheaper and gives high cover.
ULIP gives poor returns and is expensive.

Action:

If it is not pure term, surrender policy

Buy Rs 50 lakh to Rs 75 lakh term cover

Use regular plan via MFD or CFP

Also, ensure your wife is covered by health insurance.
And you both are in one floater health policy.

Step 6: RD Planning Correction
You are saving Rs 6,000 monthly in RD.
This is to pay locker, term plan, and health policy.

That’s a good idea. But RDs give low return.
Also, you can’t easily break them.

Better approach:

Use one liquid mutual fund instead of RD

Keep saving Rs 6,000 monthly there

Withdraw when premium due comes

You earn better returns

You get easy liquidity

RD is not flexible. Liquid mutual fund is better.

Step 7: Budget and Expense Management
You spend Rs 20,000 on household expenses.
And Rs 3,000 on unplanned personal use.

This is okay for your salary level.
But do these simple things:

Track expenses using a diary or app

Avoid unnecessary subscriptions or shopping

Review spending every Sunday night

Don’t use credit cards for lifestyle

Avoid small loans for gadgets

Discipline in expense will boost savings.

Step 8: Step-up Your Investment Every Year
You must grow your SIPs every year.
You are still young. Even 10 years make big impact.

Action:

Increase SIP by Rs 500 every 12 months

After loan ends in 2030, double SIP

Use term insurance premium savings for investment

Don’t stop SIP even if market falls

Review funds every 12 months with MFD

This strategy will build big wealth slowly.

Step 9: Future Income Planning
Today salary is Rs 51,000.
It may grow to Rs 80,000–90,000 in 5–6 years.

Use the future hike smartly:

Don’t increase lifestyle expenses too fast

Save 50% of any salary hike

Invest extra in mutual funds

Build emergency and retirement faster

Also, think of second income ideas:

Part-time skill courses

Online freelancing

Weekend tutoring

Renting unused things

Passive blog, YouTube channel

Multiple income gives financial security.

Step 10: Know Tax on Mutual Funds
You must know the new mutual fund tax rule:

Equity fund LTCG above Rs 1.25 lakh taxed at 12.5%

Short-term capital gains taxed at 20%

Debt fund gains taxed as per income slab

So, hold equity funds for long term.
Don’t redeem in short term.
Don’t panic in market dip. Stay invested.

Final Insights
You are already very focused and consistent.
Even with limited income, you are saving well.

What you must do now:

Reduce mutual funds from 10 to 3–4 only

Stop gold SIP and use money in equity mutual funds

Increase SIPs every year

Create emergency fund using liquid fund

Review insurance. Avoid ULIPs. Use pure term cover

Close personal loan before 2030 using bonus

Don’t invest in direct funds. Use regular funds

Track all spending monthly

Prepare one Excel sheet for budget, SIP, insurance

With this plan, you will build wealth slowly and safely.
Your daughter’s future and your retirement will be well protected.

Stay disciplined. Don’t stop. Keep going.

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

Ans: With a COMEDK rank of 94,127, your son qualifies for guaranteed seats in a range of reputable private engineering colleges across Karnataka. These institutions combine strong accreditation, experienced faculty, modern labs, active industry partnerships for internships, and consistent placement support (80–95% over three years). Below are ten colleges and branches offering 100% admission chances at this rank:

Shri Dharmasthala Manjunatheshwara College of Engineering & Technology (SDMCET) Dharwad – Civil. Mechanical. ECE.

RNS Institute of Technology (RNIST) Bangalore – Civil. Mechanical. EEE.

REVA University Bangalore – Civil. Mechanical. Electrical & Electronics.

Dr. Ambedkar Institute of Technology (Dr. AIT) Bangalore – Civil. Mechanical. ECE.

Bangalore Institute of Technology (BIT) Bangalore – Civil. Mechanical. ECE.

BVV Sangha’s Basaveshwar Engineering College Bagalkot – Civil. Mechanical. EEE.

KLS Gogte Institute of Technology (GIT) Belgaum – Civil. Mechanical. ECE.

Dayananda Sagar College of Engineering (DSCE) Bangalore – Civil. Mechanical. EEE.

BNM Institute of Technology (BNMIT) Bangalore – Civil. Mechanical. ECE.

Adichunchanagiri Institute of Technology Chikmagalur – Civil. Mechanical. ECE.

For balanced academics, robust core-engineering training, and higher placement consistency, the recommendation is Bangalore Institute of Technology Civil Engineering. As alternatives, recommendation shifts to RNS Institute of Technology Mechanical Engineering or SDMCET ECE for strong infrastructure and 90%+ placement records. All the BEST for Admission & a Prosperous Future!

Follow RediffGURUS to Know More on 'Careers | Money | Health | Relationships'.

Ans: HI Neeraj,
You need to compare either program-wise or institution-wise.
Textile is the first choice, and then you can pursue CSAI as a part-time or virtually.
BEST WISHES.

Ans: Abhijit Sir, IIIT Nagpur’s B.Tech in CSE (AI & ML) under the PPP model offers 66 seats, NBA-accredited curricula delivered by doctoral faculty in AI/ML and networking labs, mandatory industry internships, and an 88.5% placement rate with an average package of ?13.11 LPA and a median of ?11 LPA over the last three years. COEP Pune’s B.Tech in CSE, an autonomous college under Savitribai Phule Pune University, combines NBA-aligned courses, PhD-qualified faculty in modern software and hardware labs, year-long capstone projects and recorded an 87.42% branch-wise placement rate with an average package of ?11.35 LPA and highest package of ?50.5 LPA in 2023. PICT Pune’s B.E. in Computer Engineering, NAAC A+ and ISO-certified, features specialized AI/ML, fintech and embedded-systems centers, strong R&D support and achieved a 92.89% placement consistency with an average package of ?13.01 LPA and median ?10.11 LPA in 2024. All three institutes ensure accredited programs, robust infrastructure, active placement cells and substantial industry linkages fostering student employability.

For the highest placement consistency in core CSE and cutting-edge AI/ML training, the recommendation is PICT Pune Computer Engineering. If you prioritize a closer alignment with national research networks and top-tier average packages, the recommendation shifts to IIIT Nagpur CSE (AI & ML). For a balanced combination of autonomy, project-based learning and strong recruiter diversity, choose COEP Pune CSE. My Suggestion: Prefer CSE (Core) over Specialization. Taking into account your son's interests, current job market trends, and the range of available electives, he can select the most suitable specialization at a later stage if desired. All the BEST for Admission & a Prosperous Future!

Follow RediffGURUS to Know More on 'Careers | Money | Health | Relationships'.

Ans: Hello dear.
No. It's very unlikely you'll get a BSc (Hons) Physics at DU. Still, keep hope alive, as anything can happen at the end of the counseling process.

Good luck!
Follow me if you like this reply. Thanks!
Radheshyam

Ans: NIT Goa’s B.Tech in Electronics and Communication Engineering, an Institute of National Importance, is NBA/NIRF-recognized and delivered by PhD-qualified faculty in specialized VLSI, communications and embedded-systems laboratories, augmented by virtual-lab access under an MHRD initiative. Mandatory industry internships and close industry collaborations underpin its curriculum, while the 2022–23 batch achieved 100% placement consistency with an average package of ?12.87 LPA and top recruiters across core and tech sectors. VIT Chennai’s interdisciplinary Electronics & Computer Engineering programme, NAAC A++–accredited and supported by 47 state-of-the-art labs, integrates AI/ML, IoT and big-data components with semester-long internships via its centralized Career Development Centre. It has sustained approximately 80–90% placement consistency over three years with an average package of ?8.19 LPA, and benefits from its proximity to Chennai’s IT, research and startup hubs. Both institutions offer robust academic frameworks, well-qualified faculty, modern infrastructure, structured internship pipelines and active placement support.

For highest placement reliability, superior average packages and deep core-electronics training, recommendation is NIT Goa ECE. If you value a hybrid ECE–CSE curriculum, urban industry exposure and interdisciplinary labs, recommendation shifts to VIT Chennai Electronics & Computer Engineering. My suggestion: Prefer NIT-G-ECE over VIT-C-E&CE. All the BEST for Admission & a Prosperous Future!

Follow RediffGURUS to Know More on 'Careers | Money | Health | Relationships'.

Ans: Hello Bijay.
Prefer CSE @ IIIT-Bhubheshwar if possible. Yet, I would like to strongly recommend visiting both institutes in person and examining all the details with your own eyes. Also, visit the placement division to understand the reality. Talk with current students on campus, as your son will have to stay there for nearly 4-5 years. I hope you understand the point.

Good luck!
Follow me if you like this reply. Thanks!
Radheshyam

Ans: Hello dear.
Prefer Electrical @ IIT Gandhinagar. The final decision will be yours.

Good luck!
Follow me if you like this reply. Thanks!
Radheshyam