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Mayank

Mayank Kumar  | Answer  |Ask -

Education Expert - Answered on Apr 10, 2023

Mayank Kumar is the co-founder and managing director of upGrad, a higher EdTech company. With over 10 years of experience in the education sector, Kumar can offer guidance about degree courses, campus, job-linked and executive programmes and studying abroad.An MBA graduate from ISB Hyderabad, he holds a BTech in mechanical engineering from IIT Delhi.... more
Girish Question by Girish on Apr 03, 2023Hindi
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Career

Hello Mayank. My daughter just finished with her Class 12 Board exams, Commerce stream. She plans to appear for IP MAT entrance exam. The exam is on 16.6.2023. Can you guide us with a proper preparation strategy to prepare for the entrance in approx. 2.5 months. Should she join some some crash coaching or the exam can be prepared by self study only also.Thanks.

Ans: For her to score well, she needs to understand the paper pattern, the syllabus that is being covered and she must try and attempt a few papers as mock tests. This will give her clarity on where she needs to focus more of her energy on to improve her mock test results. While there is some time for her to prepare & if she is diligent with her studies and solely focuses on them over the net 2.5 months, she should be study on her own - there are multiple resources available on the internet to prepare as well which she can refer to. A crash course at a coaching center will also be helpful as they will have the formats and the curriculum plans in place for her to study at. It depends on what she is more comfortable doing.
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Nayagam P

Nayagam P P  |3908 Answers  |Ask -

Career Counsellor - Answered on Aug 22, 2024

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Good morning.My son is in standard 10th right now.We have planned to target CLAT and IPMAT for him after 12th.I it possible to prepare for both?If yes,how should he go about preparing for both ? What is the exam schedule?Thanks and regards.
Ans: Sumeet Sir, as Students should always have Plan B & Plan C, he can target both CLAT & IPMAT. However,

(a) he should allot more time to the one he is more interested in (law or management?).
(b) Preparing for both exams even from the 10th now will help him a lot to crack both exams with a decent score
(c) It is better to shortlist at least 5 law/management colleges he wishes to join, based on location preference, NIRF Ranking, specialization in both (civil, criminal, corporate, tax, cyber, intellectual property etc. and also in management: Finance, HR, Marketing, Operations, IT/Systems, etc.)
(d) He should join offline or online Coaching with any reputed Coaching Center. Choosing the right coaching center to prepare for both exams is important & also the Time Management for both.
(e) Make sure, he chooses the right stream (commerce or science) for his 11th/12th. Choosing the easier stream and the stream he is interested in will be better as he has to focus for CLAT & IPMAT also.
(f) It is also advisable to appear in 2-more Law & Management Entrance Exams as back-ups, instead of relying only on CLAT & IMPAT.
(g) Please check the syllabus of each Entrance Exam, download them, check the differences & he should focus more on weak subjects/topics among (examples of 2 exams):

IPMAT: Quantitative Ability, Logical Reasoning, and Verbal Ability.
CLAT: current affairs, logical reasoning, English language, legal reasoning, and quantitative techniques.

All the BEST for Your Son's Bright Future, Sir.

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Milind

Milind Vadjikar  |650 Answers  |Ask -

Insurance, Stocks, MF, PF Expert - Answered on Nov 17, 2024

Asked by Anonymous - Nov 14, 2024Hindi
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Hello finance guru, I am 45 years old , with 2 kids. I live in a Tier-1 city with ~49 Crores of networth. This includes ~12 crores of investment in real estate (land and a flat at a prime location), ~34 crores in equity, ~1 Cr in Crypto and ~2 Cr in cash. I work in a pharmaceutical firm in an executive role and planning to retire in the next 1 year. My knowledge on finances is average and would like to seek your advise. I would like to generate ~2.5 lakhs per month for expenses from my savings and would like to double my networth in the next 7 years. Could you provide me help on the directions I can take to make this working?
Ans: Hello;

Deducting the real estate and crypto investments from your networth, we have 36 Cr.

You may invest 4 Cr each in 2 equity savings type mutual funds and 2 conservative hybrid debt oriented mutual funds.

If you do a 3% SWP from each of these funds you may expect a monthly payout of around 2.8 L (post-tax).

These funds generally yield 8-9% returns so they will continue to provide inflation adjusted income to you.(6% inflation rate considered)

Balance remains around 20 Cr, while 2 Cr may be retained as liquid fund for contingency requirement, the balance 18 Cr you may invest in combination of mutual funds, PMSs and AIFs.

As you enter retirement phase your focus should shift from "maximising returns" to "decent returns with moderate risk" since return of capital is more important than return on capital.

Happy Investing;
X: @mars_invest

*Investments in mutual funds are subject to market risks. Please read all scheme related documents carefully before investing.

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Milind

Milind Vadjikar  |650 Answers  |Ask -

Insurance, Stocks, MF, PF Expert - Answered on Nov 17, 2024

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Dear Sir, I am 53 yrs. I want to retire @60 with a INR 2.00 Cr Corps. Currently I have following SIP Total SIP 30000/- PM Axis Bluechip Fund - Regular Plan - Growth HDFC Mid-Cap Opportunities Fund - Growth Plan Aditya Birla Sun Life Pure Value Fund - Growth Option Aditya Birla Sun Life Equity Advantage Fund - Regular Growth Sundaram Mid Cap Fund Regular Plan - Growth Bajaj Finserv Flexi Cap Fund -Regular Plan-Growth Franklin India Focused Equity Fund - Growth Plan Franklin India Smaller Companies Fund-Growth HDFC Top 100 Fund - Growth Option HDFC Multi Cap Fund - Growth Option I have MF Investment @ 26.00 Lakh Current Value is @ 52.00 Lakh. I have Savings of Rs. 10.00 Lakh, PPF Rs. 5.00 Lakh, Share investment Current Market Value around Rs. 20.00 Lakhs. I don't have any Loan. Insurance INR 1.50 Cr. up age of 70. Per month earning around Rs. 1.25 Lakh. I have a Investment in real estate which can give my INR 40.00 Lakh at current Market Price & Gold Investment of INR 20.00 Lakh which I think sufficient for my daughter Marriage. Current Monthly Expense INR 40-50 K. I am in a new tax regime, so discontinue my ELSS saving and PPF Saving. Suggest how i can increase my Corpus for retirement.
Ans: Hello;

You may top-up your monthly sip by 10% every year for 7 years. This will grow into a sum of around 0.51 Cr.

The MF corpus and direct equity holdings worth 0.72 Cr today will grow into a corpus of 1.59 Cr after 7 years.

Therefore you may achieve your intended corpus of 1.59+ 0.51=2.1 Cr, 7 years from now. A modest return of 12% is assumed from MF and direct equity holdings.

2-3 years before 60 you should start moving your gains from equity funds to liquid or ultra short duration debt funds to protect it against market volatility.

Also good health care insurance for yourself and your spouse.

RE property you may sell at a later date to boost your retirement income.

Happy Investing;
X: @mars_invest

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Milind

Milind Vadjikar  |650 Answers  |Ask -

Insurance, Stocks, MF, PF Expert - Answered on Nov 17, 2024

Milind

Milind Vadjikar  |650 Answers  |Ask -

Insurance, Stocks, MF, PF Expert - Answered on Nov 17, 2024

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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