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Mayank

Mayank Rautela  |238 Answers  |Ask -

HR Expert - Answered on Mar 30, 2022

Mayank Rautela is the group chief human resources officer at Care Hospitals.
A management graduate from the Symbiosis Institute of Management Studies with a master's degree in labour laws from Pune University, Rautela has over 20 years of experience in general management, strategic human resources, global mergers and integrations and change management.... more
Anonymous Question by Anonymous on Mar 30, 2022Hindi
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Career

Sir,
I am 36 years old. I completed my BE in 2007 in electronics and telecommunications. 
But I couldn't get any job and with lot of difficulty I got a job as a clerk in private bank in 2012.
Two months ago, I quit my job to give some time to my son. The management was also harassing me for canvassing third party products like insurance and accounts. And the working hours were too long.
I couldn't bear it and decided to quit.
I am at fault that I was too comfortable with the bank’s job and didn't learn anything new or get out of my comfort zone and try new things.
Now, I have exited my job and am also at a higher age. I want to learn something which can be beneficial and maybe I can get opportunity to work after one year.
I’m confused as to what to learn. Can you guide me? I live in a semi-urban area and in future also I would like to be here only.
Can you also tell me about some home-based jobs to boost my income?
I am ready to learn but I still don't know what to do.
Regards,
Confused and Anxious Viewer

Ans:

Hi.

I can understand your situation and would recommend these possible options:

1. You can start your own business dealing with multi-level marketing.

2. You can consider a data processing/accounting role in a BPO.

3. Pursue a course in an area of your interest that can sharpen your competencies.

4. Teaching could be another possible career option.

Career

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Asked by Anonymous - Dec 25, 2023Hindi
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Hello Sir, I am 39 years old, married and have 10 years old daughter. I work in a BPO (Risk and Compliance Department) since I was 23. Since I was not ambitious during my college days and till now I have no goals, no aim, no passion, the current job I find it very boring. I am stucked at an Analyst level since last 17 years. Also, with lot of family issues at my home, my mind does not work openly and have stucked in the comfort zone. I am a hard working person but not smart working. My wife is a housewife and have no other income other than my job. I want to grow, do lots of hard working but due to lack of self confidence, I always have a fear to get at TL or Manager level. Also, I am not sure which industry I have interest in. It is only since 17 years, I am doing this job, I tell everybody that I am from a BPO sector. But I really want to earn more so that I can fulfill my family needs but please help me in which direction I should go and Howww? I know at the age of 40, I cannot start working in a new sector with no prior experience but really is it too late to change the sector? and if no, Please suggest me any industry where I can start from scratch, learn new things and can work with great interest and can grow myself.
Ans: I find your first few sentences very negative. Please get a hold of yourself and regain your lost confidence. To start from scratch at this stage is not advisable but one can branch off into related fields about which you know the best. Change your attitude, think positive and the solutions will come to you! Other than this is really cannot suggest anything specific since the information given is inadequate.

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Shekhar

Shekhar Kumar  |145 Answers  |Ask -

Leadership, HR Expert - Answered on May 13, 2024

Asked by Anonymous - May 10, 2024Hindi
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Hi, I'm 40 years old ,i have done BBA in finance and marketing. It's completed in 2006.i have experience of 5 year in retail and then I moved to foreign exchange company and worked for another 4-5 years in 2-3 companies.but I lost my job in corona time.and since then I'm working as a freelancer for the forex customers.also looking for jobs but couldn't get right job.i have responsibilities but I am not earning as I needed. Pls suggest me what should I do?
Ans: I understand this must be a frustrating situation. You have a strong educational background and experience, but the job market can be tough. Don't view freelance work as a gap in your employment history. Frame it as an opportunity where you leveraged your expertise to consult with clients. Quantify your achievements as a freelancer whenever possible (e.g., increased client base by X%, secured Y new contracts). The financial and marketing fields have likely evolved since your graduation in 2006. Consider taking online courses, certifications, or workshops to update your knowledge in areas like financial technology (FinTech), digital marketing, or social media marketing. These in-demand skills can make your resume more attractive to employers. Since you already have experience freelancing for forex clients, explore ways to expand your freelance offerings. Can you offer additional services like market research, competitor analysis, or content creation related to finance or foreign exchange? Don't limit yourself to just finance or forex roles. Consider marketing positions within financial institutions, wealth management firms, or fintech companies. Your marketing background could also be valuable in other industries like retail, healthcare, or technology. Remember, your age and experience are assets. Age is not a liability; hence, by highlighting your transferable skills, expanding your skillset, and utilizing a strategic job search approach, you can increase your chances of landing the right job.

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Latest Questions
Ramalingam

Ramalingam Kalirajan  |5302 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on Jul 25, 2024

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Hello, I am a businessman and now im 38 years. My monthly income is around 100000/- approx but not fixed for every months since im from events industry. This year I have taken home loan of 42 lakhs for 30 years ( 2024 ) and current emi is 33000/- and additionally I have to pay approx 1.5 Lakhs in every 4 months till 2025 end. And car loan emi is 18000/- and duration left approx june 2028 and misc loan of 15000/- left for 2 years. My goal is to get 2 crore at the age of 55 and to enjoy loan free life. Can you please suggest me how to achive my goal. Thank you.
Ans: Current Financial Situation
1. Income and Loans:

Monthly income: Rs 1,00,000 (variable).
Home loan EMI: Rs 33,000 for 30 years (starting 2024).
Additional home loan payment: Rs 1.5 lakhs every 4 months until 2025 end.
Car loan EMI: Rs 18,000 until June 2028.
Miscellaneous loan EMI: Rs 15,000 for 2 years.
Financial Goals
1. Debt-Free Life:

Clear all loans by 55.
Reduce financial burden and stress.
2. Savings Goal:

Accumulate Rs 2 crore by age 55.
Secure a comfortable future.
Strategies to Achieve Your Goals
1. Debt Management:

Prioritize clearing high-interest loans.
Focus on repaying the miscellaneous loan first (Rs 15,000 EMI for 2 years).
2. Optimize Loan Repayments:

Pay extra towards the principal of the home loan when possible.
Consider making additional lump-sum payments to reduce the loan tenure.
3. Investment Plan:

Start a disciplined investment plan.
Invest a portion of your income regularly in diversified mutual funds.
Detailed Investment Strategy
1. Emergency Fund:

Keep 6 months' worth of expenses in a liquid fund.
Ensure financial stability during income fluctuations.
2. Systematic Investment Plan (SIP):

Invest in diversified equity mutual funds.
Consider actively managed funds for higher returns.
Start SIPs with any surplus after meeting loan EMIs and expenses.
3. Long-Term Investments:

Invest in equity mutual funds for long-term growth.
Choose funds with a strong track record and professional management.
Investment Amount and Expected Returns
1. Monthly SIP Contributions:

Allocate Rs 20,000 to Rs 30,000 for SIPs.
Increase SIP amount as income grows or debts reduce.
2. Expected Returns:

Equity mutual funds can yield 10-12% annual returns over the long term.
Reinvest the returns for compounding benefits.
Additional Tips
1. Regular Review:

Review your investment portfolio annually.
Adjust investments based on performance and goals.
2. Professional Advice:

Consult a Certified Financial Planner (CFP) for personalized advice.
Ensure your investment strategy aligns with your risk tolerance.
3. Tax Planning:

Use tax-saving instruments like ELSS mutual funds.
Optimize your tax liability to increase investable surplus.
Final Insights
To achieve your goal of Rs 2 crore and a loan-free life by 55, focus on disciplined investing and strategic debt repayment. Regularly review your financial plan and seek professional advice to stay on track.

Best Regards,

K. Ramalingam, MBA, CFP

Chief Financial Planner,

www.holisticinvestment.in

...Read more

Ramalingam

Ramalingam Kalirajan  |5302 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on Jul 25, 2024

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Money
Hi, I have 43L and I'm planning to buy a flat worth 1.4Cr. It is due completion in 2029. So I can either put in more now or at the end. I have decided to do below. Pay 10% since it's compulsion, now I have 30lacks with me. My biggest advantage now is time. So I have invested lumpsum of 20L in PPFAS Flexi cap and 10L in HDFC Balanced Fund. I have a loan sanctioned of remaining amount 1.2Cr. My question is, in 5yrs time, should I use 87L from loan and use whatever I get from these MF's or should I stay invested in MF's and use full loan amount of 1.2cr instead? My plan was to pump in additional 30k per month if I use only 87L from loan as my EMI would be less and 8-10yrs down the line, I can apply for PreClosure. What's the best way forward? Use full loan amount and pay higher emi and keep my 30L in MF intact or use partial loan amount, pump in additional sip and utilize what I get to foreclosure of loan? Other details, 30M, Monthly Exp around 50k. I am investing 35k in SIP, 50k for various plans, ULIP, insurance ROP, Assured returns etc. I consider these as debt instruments in my investments. End goal is to save enough for retirement and an additional real estate asset worth 1.5cr before retiring.
Ans: You have Rs 43 lakhs and plan to buy a flat worth Rs 1.4 crores due for completion in 2029. Here's an analysis of your options:

Current Investment Plan
1. Initial Payment:

Paid 10% (Rs 14 lakhs) upfront.
Remaining Rs 30 lakhs available.
2. Investment Allocation:

Rs 20 lakhs in PPFAS Flexi Cap Fund.
Rs 10 lakhs in HDFC Balanced Fund.
3. Loan Details:

Sanctioned loan amount: Rs 1.2 crores.
Option 1: Partial Loan and Additional SIP
1. Plan:

Use Rs 87 lakhs from the loan.
Use returns from mutual funds for the rest.
Pump in an additional Rs 30k per month as SIP.
2. Benefits:

Lower EMI, making it easier to manage monthly expenses.
Ability to invest more monthly, enhancing wealth creation.
Option to pre-close the loan in 8-10 years.
3. Considerations:

Assess the expected returns from mutual funds.
Ensure the investments outperform the loan interest rate.
Option 2: Full Loan Amount
1. Plan:

Use the full Rs 1.2 crores loan.
Keep the Rs 30 lakhs in mutual funds.
2. Benefits:

Larger loan amount may offer tax benefits.
Investments remain intact and grow over time.
Flexibility to use investment returns for other goals.
3. Considerations:

Higher EMI impacts monthly cash flow.
Loan tenure may be longer, increasing interest paid.
Comparative Analysis
1. Loan Interest vs. Investment Returns:

Compare the loan interest rate with the expected returns from mutual funds.
If mutual fund returns are higher, keeping investments intact might be beneficial.
2. Monthly Cash Flow:

Evaluate your ability to manage higher EMIs.
Consider the impact on your overall financial stability.
3. Pre-closure Option:

With lower EMIs, pre-closure of the loan becomes feasible.
Additional SIP investments can create a pre-closure fund.
Recommendations
1. Balanced Approach:

Use a mix of both options.
Opt for a partial loan and keep some investments intact.
2. Regular Review:

Monitor your mutual fund performance regularly.
Adjust investments and loan repayments based on market conditions.
3. Financial Goals:

Align your investments with long-term goals like retirement.
Diversify your portfolio to balance risk and returns.
Final Insights
Considering your goals, a balanced approach of partial loan and maintaining investments is optimal. Regularly review and adjust based on performance and market conditions.

Best Regards,

K. Ramalingam, MBA, CFP

Chief Financial Planner,

www.holisticinvestment.in

...Read more

Ramalingam

Ramalingam Kalirajan  |5302 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on Jul 25, 2024

Asked by Anonymous - Jul 15, 2024Hindi
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Money
Sir I want to SIP of 40k per month and want to make a corpus of 1cr in coming 8 years kindly suggest
Ans: Evaluating Your Goal
You aim to create a Rs. 1 crore corpus in 8 years. Investing Rs. 40,000 per month via SIPs is a solid strategy. Let’s break it down.

Benefits of Systematic Investment Plans (SIPs)
Disciplined Investing: Helps you invest regularly.
Rupee Cost Averaging: Reduces the impact of market volatility.
Compounding: Small amounts grow significantly over time.
Expected Returns
Assuming an average annual return of 12%, your monthly SIP of Rs. 40,000 can potentially help you reach Rs. 1 crore in 8 years.

Disadvantages of Index Funds
Limited Growth Potential: Only matches market returns.
No Active Management: Lacks strategic adjustments.
Lower Flexibility: Cannot react to market changes.
Benefits of Actively Managed Funds
Expert Management: Professionals manage your investments.
Higher Returns Potential: Aims to outperform the market.
Strategic Adjustments: Reacts to market conditions.
Disadvantages of Direct Funds
No Professional Guidance: You miss expert advice.
Higher Risk: Due to lack of professional management.
Complexity: Requires deep knowledge and time.
Benefits of Investing Through MFD with CFP
Expert Advice: Helps in making informed decisions.
Regular Monitoring: Keeps your investments on track.
Customized Portfolio: Tailored to your goals and risk profile.
Investment Strategy
Step 1: Diversify Investments
Equity Funds: High growth potential.
Debt Funds: Stability and lower risk.
Hybrid Funds: Balanced approach.
Step 2: Regular Monitoring
Review Quarterly: Adjust based on performance.
Rebalance Annually: Maintain your risk-return balance.
Step 3: Increase SIP Amount Annually
Inflation Adjustment: Increase SIP by 5-10% annually.
Step 4: Stay Committed
Market Fluctuations: Stay invested despite market ups and downs.
Long-Term Focus: Keep your eyes on the 8-year goal.
Importance of Professional Guidance
A Certified Financial Planner (CFP) can help you:

Set Realistic Goals: Based on your financial situation.
Create a Plan: Customized to your needs.
Monitor Progress: Ensure you stay on track.
Additional Considerations
Emergency Fund: Keep 6 months of expenses aside.
Insurance: Adequate health and life insurance coverage.
Tax Planning: Use tax-efficient investment options.
Final Insights
To achieve your Rs. 1 crore goal in 8 years:

Invest Rs. 40,000 monthly via SIPs.
Focus on equity funds for growth.
Seek professional advice for customized planning.
Best Regards,

K. Ramalingam, MBA, CFP,

Chief Financial Planner,

www.holisticinvestment.in

...Read more

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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