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Baqar Iftikhar

Baqar Iftikhar Naqvi  |112 Answers  |Ask -

Start-up Mentor - Answered on Feb 23, 2024

Baqar Iftikhar Naqvi is the founder and CEO of Upriver Ecommerce, an online sales accelerator firm and can guide entrepreneurs on how to make their firms grow.He holds a BTech in textile technology from the Central Textile Institute and has a master's degree in marketing and merchandising from the National Institute of Fashion Technology.He has 23 years of experience in the consumer products and retail industry.... more
Arifa Question by Arifa on Feb 22, 2024Hindi

I am a housewife with 3 kids & also completed b.com (Computer ) as i am in need of very urgent money i am thinking of any business because working outside is not possible as i need to look after my family. Please suggest me which business is profitable one is selling dress materials or else selling food through zomato...etc

Ans: Home kicthens and selling through zomato is a good idea. There is a daily foods section on zomato where they supply home cooked food. Also you can later take catering orders for small parties.

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Chandu Nair  |55 Answers  |Ask -

VC, Angel Investing, Entrepreneurship Expert - Answered on Nov 02, 2023

for past 19 years i am working in a manufacturing company namely Tinplate company of india limited jamshedpur as mechanical engineer i want to do some buniness so that i have some monetory stability and extra income as you know today no one job is fixed forever pl suggest some small business for me so that after i loose my job i can sustain some income
Ans: Mr Azad, you would like to have a side business to generate additional income. You have provided no idea of your skills/expertise/ experience nor of your financial situation (I am guessing that you don't have any surplus to invest in a business).

First and foremost, pl check if your current employer permits moonlighting or having another job even if it is freelance/ gig work. Many companies can take stringent action in this regard.
Second, what skills/expertise/ experience do you have which is distinct from your current job at TCIL? E.g., are you a good writer, or can draw or teach well or translate from one language to another, or cook etc etc. That will help you identify possible alternate income generating possibilities,
Third, how much free time do you have per day? On the weekends? And at what time? That will narrow down the list of ideas.
Fourth, what kind of other infrastructure, manpower support etc is required for the idea? Do you have the ability to get /pay for it? If you don't, you can only do those activities which rely on your time and expertise. You need to be able to give focused attention to it on a sustained business be it tuitions, writing, cooking, generating online content or whatever else you finally choose.
Fifth, do you have access to a set of customers/ buyers who want what you can offer and are willing to pay for it and can you easily reach them?
Once you have gone through these steps, you would have likely identified an idea that can potentially give you an alternate source of income.
Best of luck

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Ramalingam Kalirajan  |3916 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on Jun 06, 2024

Asked by Anonymous - Jun 02, 2024Hindi
I am a cabin crew in India. I am 28years old no savings yet. But loan of 3lakhs. Planning to clear all my loans in the next 8 months. After that all my earnings will be my savings. Also I am planning for some business. I am good at art work and cooking also I am a fashion designer. Please suggest me what business will be good for me..also I am completely alone noone to take care of me in future. And I have no backup. Whatever I have earned n I will earn infuture will be my only hope. Please suggest me how can I save also any business ideas.
Ans: Assessing Your Financial Situation
First, congratulations on your plan to clear your loans within the next 8 months. This shows a strong commitment to financial stability. With a clear focus on repaying your debt, you’re already on the right path.

Creating a Debt Repayment Plan
Prioritizing Loan Repayment
Prioritize paying off your Rs 3 lakh loan within the next 8 months. This means allocating a significant portion of your income towards this goal. Calculate the exact monthly payment needed to achieve this within your desired timeframe.

Budgeting Effectively
Create a detailed budget that outlines your income and expenses. Identify areas where you can cut back temporarily to ensure maximum loan repayment. This disciplined approach will accelerate your debt clearance.

Building an Emergency Fund
Importance of an Emergency Fund
Once your loan is cleared, the next step is to build an emergency fund. This fund should cover at least 6 months of living expenses. It provides a safety net in case of unforeseen circumstances, such as job loss or medical emergencies.

How to Save for an Emergency Fund
Set aside a fixed amount each month into a high-interest savings account until you reach your target. This fund should be easily accessible and separate from your regular savings.

Exploring Business Ideas
Given your skills in art, cooking, and fashion design, there are several business ideas that could be a good fit for you. Here are a few to consider:

Online Art Store
Use your artistic skills to create unique art pieces and sell them online. Platforms like Etsy or your own website can help you reach a wide audience.

Home-Based Bakery or Catering
If you enjoy cooking, consider starting a home-based bakery or catering service. You can begin with small orders for friends and family and gradually expand your customer base.

Fashion Design and Boutique
Leverage your fashion design skills to start a boutique. You can create custom designs and offer them through an online store or local market.

Creating a Business Plan
Market Research
Conduct market research to understand the demand for your products or services. Identify your target audience and competitors. This research will help you refine your business idea and develop a strong business plan.

Financial Planning for Business
Estimate the initial investment required for your business. This includes costs for materials, marketing, and other essentials. Plan how you will fund your business, whether through savings, loans, or other sources.

Saving and Investing for the Future
Systematic Investment Plan (SIP)
Once your emergency fund is in place, consider starting a SIP in mutual funds. SIPs allow you to invest a fixed amount regularly, which can grow significantly over time due to compounding.

Public Provident Fund (PPF)
PPF is a safe investment option with attractive interest rates and tax benefits. It’s suitable for long-term savings and helps build a secure financial future.

Recurring Deposits (RD)
RDs in banks allow you to save a fixed amount monthly with guaranteed returns. They are low-risk investments and help inculcate the habit of regular saving.

Diversifying Investments
Importance of Diversification
Diversification spreads your investments across different asset classes, reducing risk and enhancing returns. This approach ensures that poor performance in one asset class doesn’t significantly impact your overall portfolio.

Suggested Allocation
A balanced portfolio might include 50% in equity mutual funds for growth, 30% in debt mutual funds for stability, and 20% in fixed-income instruments like PPF or RD.

Regular Monitoring and Adjustment
Tracking Your Investments
Regularly monitor the performance of your investments to ensure they align with your financial goals. This helps in making informed decisions and necessary adjustments.

Rebalancing Your Portfolio
Rebalance your portfolio periodically to maintain the desired asset allocation. This involves selling over-performing assets and reinvesting in underperforming ones.

Financial Discipline
Consistent Saving and Investing
Consistency is key to successful saving and investing. Save and invest regularly, even if the amount is small. Over time, this disciplined approach will help in accumulating substantial wealth.

Avoiding Impulse Spending
Avoid impulse spending and prioritize your financial goals. This ensures that you have sufficient funds to save and invest regularly.

Importance of Financial Literacy
Educate Yourself
Invest time in educating yourself about financial markets and investment principles. This empowers you to make informed investment decisions.

Stay Updated
Stay updated with market trends and economic developments. This helps in understanding the impact of market movements on your investments.

Role of a Certified Financial Planner
Professional Guidance
A Certified Financial Planner (CFP) can provide personalized investment advice based on your financial goals and risk tolerance. They help in creating a comprehensive financial plan tailored to your needs.

Avoiding Common Investment Mistakes
Over-Reliance on a Single Asset
Avoid putting all your money into a single investment. Diversify your portfolio to spread risk and enhance returns.

Chasing High Returns
Chasing high returns often leads to taking excessive risks. Focus on creating a balanced portfolio that offers steady and sustainable returns.

Emergency Fund
Financial Cushion
Maintain an emergency fund to cover unexpected expenses. This prevents the need to dip into your long-term investments during emergencies.

Setting Realistic Expectations
Long-Term Perspective
Invest with a long-term perspective. While markets may fluctuate in the short term, they tend to offer good returns over the long term.

Patience and Discipline
Patience and discipline are crucial for successful investing. Stick to your investment plan and avoid making impulsive decisions based on market movements.

Investing in Your Future
Starting Early
Starting early gives you the advantage of time. The earlier you start investing, the more you benefit from compounding, resulting in substantial wealth accumulation over time.

Goal-Based Investing
Invest with specific goals in mind. Whether it's expanding your business, buying a house, or retirement, having clear goals helps in creating a focused investment strategy.

Risk Management
Understanding Risk
Understand the risks associated with different investment options. This helps in making informed decisions and choosing investments that match your risk tolerance.

Mitigating Risk
Mitigate risk by diversifying your investments across different asset classes. This ensures that poor performance in one asset class does not significantly impact your overall returns.

Tax Planning
Tax-Efficient Investments
Choose tax-efficient investments that offer deductions and exemptions under various sections of the Income Tax Act. This helps in maximizing your net returns.

Understanding Tax Implications
Understand the tax implications of your investments to plan effectively. This helps in optimizing your investment returns and minimizing tax liability.

Clearing your loan and focusing on savings and investments will set you on a path to financial stability. Leveraging your skills in art, cooking, and fashion design to start a business can provide an additional income stream. Create a diversified investment portfolio and invest regularly to build a secure financial future. Seek guidance from a Certified Financial Planner to develop a personalized financial strategy. Stay disciplined and informed to navigate your financial journey successfully.

Best Regards,

K. Ramalingam, MBA, CFP,

Chief Financial Planner,


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Latest Questions
Nayagam P

Nayagam P P  |630 Answers  |Ask -

Career Counsellor - Answered on Jun 22, 2024

Asked by Anonymous - Jun 22, 2024Hindi
Sir my daughter is in grade 9.Can you please suggest some preparation strategy for iit-jee .Which is the best online coaching for iit-jee foundation for grade 9.
Ans: Prefer ALLEN Online Coaching Classes. AhaGuru is another Better Option, if fees of Allen is More. However, If you join AhaGURU, join just Allen's Online Test Series also to practice questions online. Go to both Website, check & choose more suitable one for you.

NOW Coming to Preparation Strategies:

(1) Whenever you study at home, study for 45-minutes. Then take a break of 10-minutes when you can move away from your study table, walk, have some water & relax. If you continue studying beyond 45-minutes, your concentration power will go down, resulting to low output. Most students commit this mistake. (2) On daily basis (morning or evening whichever will be convenient to you), do yoga or meditation or physical exercises or play any games / sports for at least 30-45 minutes. This will further reduce your stress / distractions. (3) Study tough topics / tough subjects (applicable to you) early morning with your fresh mind. (4) Eat a lot of green vegetables / fruits which you can afford for & Avoid soft drinks (5) Every day night, before going to bed, revise whatever you have studied during the day. (6) Also, revise every week whatever you have covered till date (here your short-notes which you should prepare will be helpful). (7) Keep practising questions on topics which you have covered either offline or online (8) Give utmost importance to wrongly answered / difficult / complicated / tough questions and have a separate note-book specially for this for each subject (PCM) (8) You might be aware that JEE rank is allotted on the basis of highest score in Maths, followed by Physics & Chemistry. Practice more and more in Maths, till you reach Speed & Accuracy (9) By the end of 9th/10th/11th/12th standard (December-January), attempt fully syllabus online test series, evaluate and analyse your performance such as, (a) which topic / unit / concept you are weak which needs your revision and improvement as this will disturb you when you appear in actual JEE exam (b) abnormal time taken to attempt any question which you can come to know from Online Test Series which you should reduce (c) which questions you skipped and why? (10) Please AVOID studying under pressure that you should get admission only into IITs/ NITs. Never advisable. Any one can be successful, even if he / she studies in NON-IIT / NON-NIT Colleges also. (11) Have Plan B & Plan C for other Colleges Entrance Exams / Disciplines-Streams. (11) Avoid comparing yourself with other students. (12) Also, it is highly ideal to appear in / attempt minimum 5-Entrance Exams (for both Govt & Private Engineering Colleges). You will have a lot of options (easiest method) to choose the best and most suitable one, keeping in view a lot of factors such as, College | Location | Your Interest | Stream Preference | Placement Records | College Culture | Your Short & Long Term Goals | Pressure You Can Go Through | Your AIR & Job Market Condition when you apply for your BTech & Even after. I hope I have answered to your question with value additions.

All the BEST for your Bright Future.

To know more on ‘ Careers | Education | Jobs’, please Ask / Follow me in RediffGURU here.

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Ramalingam Kalirajan  |3916 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on Jun 22, 2024

Asked by Anonymous - Jun 22, 2024Hindi
Is it wise to pay off the entire bank loan on a house built on my husband's ancestorial property using entire PF money to avoid paying high EMIs? The house can never be sold as it is on a prestigious ancestorial land. I am retired and do not have any regular income. Please advice.
Ans: I understand your situation and will provide detailed advice. Let’s dive into the details to help you make an informed decision.

Understanding Your Financial Position

Your question brings up some important financial concerns. You have retired, don’t have a regular income, and are considering using your Provident Fund (PF) money to pay off a bank loan on a house. This house is on your husband's ancestral property, which holds significant sentimental value and cannot be sold. These are critical points to consider before making a decision.

The Importance of Emergency Funds

One of the primary rules in personal finance is to maintain an emergency fund. This fund should ideally cover at least six months of your living expenses. Since you are retired and do not have a regular income, it’s crucial to have a financial cushion to cover unexpected expenses such as medical emergencies or home repairs. Before using your entire PF to pay off the loan, ensure that you have set aside enough money for such contingencies.

Evaluating Your PF Money Utilisation

Using your entire PF to pay off the loan might give you relief from the high EMIs, but it will also deplete a significant portion of your savings. Given your retired status, you need to carefully consider the consequences of using this money. Once your PF is exhausted, it won’t be easy to rebuild this fund without a regular income.

The High EMI Concern

High EMIs can indeed be a burden, especially when you do not have a steady income stream. However, there are several other strategies you could consider before deciding to use your PF money. It might be worth looking into the possibility of restructuring your loan. Speak to your bank to see if you can extend the tenure of the loan, which would reduce the EMI amount, making it more manageable on a monthly basis.

Exploring Loan Restructuring Options

Banks often offer various loan restructuring options, especially for retired individuals. These options might include extending the loan term, which can significantly reduce your monthly EMIs. While this might mean paying more interest over the life of the loan, it can help ease your monthly financial burden and allow you to retain more of your PF for future needs.

Consider Partial Payments

If paying off the entire loan seems too risky, you might consider making a partial payment. This could reduce the principal amount of the loan, thus lowering your EMIs. You’ll still retain some of your PF money for future needs, and you won’t be entirely depleting your savings.

Benefits of Retaining PF Money

Your PF money is a significant safety net. It’s not just about having cash available; it’s also about the potential returns on that money. If you invest your PF wisely, it can generate returns that might help cover your loan EMIs or other expenses. Consider consulting a Certified Financial Planner to explore investment options that can provide you with regular income or growth potential.

The Emotional Value of Ancestral Property

The house being on prestigious ancestral land adds a layer of complexity. Emotional and sentimental values are important and should be factored into financial decisions. Since selling the property is not an option, it’s crucial to balance emotional considerations with financial practicality. Paying off the loan entirely might feel like a relief, but ensure it doesn’t leave you financially vulnerable.

Disadvantages of Using Entire PF

Using your entire PF money to pay off the loan means you lose out on the compounding benefits of keeping that money invested. Once spent, it’s gone, and you might face financial difficulties if any unexpected expenses arise. It’s important to maintain a balance between reducing your debt and retaining financial liquidity for future needs.

Exploring Alternative Investment Options

Instead of depleting your PF, consider investing in mutual funds through a Certified Financial Planner. Regular funds, managed by experienced professionals, can offer better returns compared to direct funds. This strategy can provide a steady stream of income, which could help in managing your loan EMIs without exhausting your savings.

Benefits of Actively Managed Funds

Actively managed funds have the potential to outperform the market because they are managed by experts who make strategic decisions based on market conditions. While these funds may have higher fees than index funds, the professional management can lead to better returns, especially in a volatile market. By investing in these funds, you can generate returns that might help offset your loan payments.

The Role of Certified Financial Planners

Certified Financial Planners can help you create a diversified investment portfolio tailored to your risk tolerance and financial goals. They provide personalized advice, ensuring that your investments align with your need for income and growth. Working with a professional can help you make informed decisions, rather than depleting your PF.

Ensuring Financial Security

Financial security in retirement is paramount. Your focus should be on maintaining a steady income stream and preserving your savings. Consider all possible options to manage your loan without compromising your financial future. Consult with a Certified Financial Planner to explore ways to generate income from your investments and manage your debt efficiently.

Exploring Family Support

In situations involving ancestral property, family dynamics can play a crucial role. Discuss your financial situation with your family. There might be other family members willing to contribute towards the loan payments, especially if the property holds significant sentimental value for the entire family. Collaborative efforts can ease the financial burden on you.

Evaluating Long-term Financial Health

Consider the long-term implications of using your PF money. Retirement can last many years, and it’s important to ensure that your funds last. Evaluate your monthly expenses, potential future costs, and how much income you need to sustain your lifestyle. A detailed financial plan can help you make the right decision about your PF money.

Medical and Health Considerations

Healthcare costs can be a significant concern in retirement. Ensure you have adequate health insurance and set aside funds for medical emergencies. Using your PF to pay off the loan might leave you financially exposed if unexpected health issues arise. Prioritize your health and financial security.

The Importance of Diversification

Diversifying your investments is key to managing risk and ensuring stable returns. Instead of putting all your money into paying off the loan, consider spreading your investments across different asset classes. This can help mitigate risks and provide you with multiple income streams, enhancing your financial stability.

Benefits of Regular Investment through CFP

Investing through a Certified Financial Planner can provide access to a range of financial products suited to your needs. Regular investments in mutual funds, managed by professionals, can offer better returns and financial security. These planners can help you create a balanced portfolio, aligning with your retirement goals.

Financial Education and Empowerment

Empower yourself with financial knowledge. Understanding the basics of investments, market dynamics, and personal finance can help you make better decisions. Regular consultations with a Certified Financial Planner can provide you with the education and tools needed to manage your finances effectively.

Final Insights

Deciding to use your entire PF money to pay off a loan is a significant decision that requires careful consideration. Balancing the emotional value of your ancestral property with your financial security is key. Explore alternative options like loan restructuring, partial payments, and investing through a Certified Financial Planner. Maintaining an emergency fund, ensuring health coverage, and diversifying your investments will help secure your financial future. Consult with a financial expert to create a comprehensive plan that aligns with your retirement goals and provides peace of mind.

Best Regards,

K. Ramalingam, MBA, CFP,

Chief 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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