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Chandu Nair | Answer |Ask -Follow

VC, Angel Investing, Entrepreneurship Expert - Answered on Nov 27, 2023

Chandu Nair advises entrepreneurs and enterprises about creating and building their business.
He has direct experience in angel, venture capital and strategic investor funding. Over the last three decades, he has made a name for himself in industry, consultancy, media and information services.
Nair is on the advisory boards of the Chennai-based private equity firm Fulcrum and the social impact fund, Menterra. He's an independent director on the board of India's first retail building products company, Shankara Building Products Limited.
He was the co-founder of Scope e-Knowledge Center, a pioneering knowledge process outsourcing company, as well as the co-founder of a business-to-business e-commerce venture, both of which he successfully exited.... more

Question by Balamurugan on Nov 23, 2023Hindi

Career

Hi sir, I'm 23 yrs old Pharma student. I'm really eager to begin a startup in the same field but I've no prior work experience. I'm worried that, if I go to work I'll lose my startup interest and I'll be stuck in it.I never know that I'll be able to do it in older age. What should I do now sir?

Ans: There are some who are able to identify a start-up idea during their studies. You have not been able to do that. I would suggest that you get into an area of the pharma/ healthcare industry that interests you, work there for a period of time (3-5 years at least), get a hang of how it works, what problems are there, how are they being tackled, gaps that you can identify etc. This experience will also help you build a network of contacts and add to your expertise.
Tap into your alumni network and see if there are start-up entrepreneurs who can act as your mentors.
Also plug into existing entrepreneur networks and associations so that you can find out how different people came up with ideas and converted them into businesses. There are several such bodies now across India.
All the best

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Question by Anuj - May 12, 2023Hindi

Career

I am anuj and my age is 50 and for the post 6 months i was in pharma company total experience is 27 years in this industry can I get a job now or i have to start my own business kindly suggest me what to do now

Ans: As you are 50 years age and has vast experience in this field.
You can look for a job in the relevant field through job portals.

Baqar Iftikhar Naqvi | Answer |Ask -Follow

Start-up Mentor - Answered on Sep 16, 2023

Question by Rahul - Sep 09, 2023Hindi

Career

I am working in a Pharmaceutical company in sales & marketing for last 30 years. Now I want to start something of my own venture. Would you please advice.

Ans: In whatever is your area of interest, talk to as many experts and consumers you can.. evaluate if your idea is solving a real problem that your potential consumers face. Fine tune your business idea. Then again talk to people if they are willing to pay you money to sort out the problem.. and how much. Concurrently, talk to experts on the cost of solving the problem/ offering the solution. Wherever you think the cost of solution is lesser than what people are willing to pay, is a good idea to work on prima facie. Then create a detailed feasibility report. Take help of some expert at this stage. Understand the investments and evaluate how you will need to fund the business initially. See if you can get some grants / seed funding. Typically seed funding is through friends and family . There are also a few govt schemes for entrepreneurs- see if you can get some grant/ financial assistance under these schemes. Put some of your own money and start implementing your idea in the mean while. Don’t be over optimistic in your planning. Work for the best but be prepared for the worst.

Chandu Nair | Answer |Ask -Follow

VC, Angel Investing, Entrepreneurship Expert - Answered on Feb 12, 2024

Question by Dinesh - Nov 22, 2023Hindi

Career

Dear Mr CHandu, I am 53 yrs now and an BE by qualification. I have been working in IT industry (14 yrs) and from 2007 have been working in IT Security profile as GM. In 2015 I left the job over an partnership offer which did not materialized but i lost the job. I started an start-up ecommerce company with a good concept which was liked and appreciated by the franchisees as even today they are running a grocery store which was setup by me, though my business shut down due to non funding and was cheated in the name of funding. After long gap I did join the company but lasted for just 8 months and now again am job less. I have a good start-up idea in healthcare which is workable and have been appreciated by people to whom i have brief though i M yet to launch due to funds issue, Though people are trying to find the funding after hearing the biz idea. My wife is working and have 2 kids in 12th and 10th Std respectively. Pls advice.

Ans: Dear Mr Dinesh,
It looks like you have been through a lot after getting into business on your own. Your children too are at a critical stage in life which requires funds for higher education in the next few years. The first question to ask yourself is - what is the priority in your life? Is it financial stability for the family esp for the kids? Or is it the pursuit of your business? The second question is - what is the current status of your household finances? Is there enough savings to manage the household, upcoming education expenses, other expenses (travel, medical etc)?
If you are shaky, it may be time for you to consider taking an assignment which offers you a fixed remuneration and also flexibility to work on your idea. You say you were in the field of IT security. Can you consider an assignment which might take 2-3 days per week managing and overseeing the IT security for a company which cannot afford a full-time professional?
You may also want to consider getting incubated in a good healthcare incubator in your city and also apply for a start-up funding grant from the government of India and/or local state government programmes.

Latest Questions

Milind Vadjikar |650 Answers |Ask -Follow

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

Question by Vasu - Nov 12, 2024Hindi

Money

EPF- What happens to EPF on moving to abroad or leaving service permanently and no longer contributing to EPF after nearly 15 years of service and accumulation? Would I continue to get interest even after 3 years if I do not withdraw? Are there any restrictions?

Ans: Hello;

After 3 consecutive years of no contribution, except interest, EPF account becomes inoperative and technically shouldn't accrue interest.

But EPFO has a current policy to pay interest on all accounts, includes inoperative accounts too, till member age of 58.

Best wishes;

Milind Vadjikar |650 Answers |Ask -Follow

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

Asked by Anonymous - Nov 14, 2024Hindi

Money

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.

Milind Vadjikar |650 Answers |Ask -Follow

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

Question by Dharmesh - Nov 09, 2024Hindi

Money

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

Milind Vadjikar |650 Answers |Ask -Follow

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

Asked by Anonymous - Nov 17, 2024Hindi

Money

Hi, I am 34 years old with a daughter of 4 years old. I'm owning a site which costs 20 lakh without loan, 1 house which has loan of 40 lakh and one more site which has loan of 28 lakh. My monthly income is 1 lakh. And im a single mother. I also gets a rental income of 30k from the house.Im also investing in ppf which is around 5lakhs(total till now) , nps around 1 lakh(till now) and lic policy. I want to save for my kid future education and also repay the loan as early as possible. Also investing 10k per year for my daughter's SSY. Please guide me on this.

Ans: Hello;

Please clarify on investible income available after EMI, regular household expenses, NPS, PPF, SSY so as to recommend you other investment options.

Thanks;

Milind Vadjikar |650 Answers |Ask -Follow

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

Question by Rajarshi - Nov 17, 2024Hindi

Money

My father took a sbi life retirement plan @ 3lacs per year premium for 5yrs. He has completed 3premium payment (9lacs) but unable to carry on the policy. What should be our next steps to get our amount back? If we surrender.

Ans: Hello;

You may have to wait till completion of 5 years since their may be a lock-in.

After that they may provide residual fund value, after deducting surrender charges as applicable, as per terms of the policy agreement.

Please read the policy document carefully before signing up.

Best wishes;

Milind Vadjikar |650 Answers |Ask -Follow

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

Question by Pratik - Oct 30, 2024Hindi

Money

Hello sir, I've successfully transferred pf frm Company A to B & now have raised request in Epfo frm C to B where C has approved and transferred to EPF but EPF has rejected with 15k wage error - I've raised grievances in Epfo nd in company C. What is the reason behind this remarks ? Is it something of mixing EPF nd EPS by company C?is submission of form 3A by company C to epfo resolve this issue ?if yes then how should I submit form frm Company C to epfo site?

Ans: Hello;

Your assessment seems correct, i.e. mixing of EPF and EPS contribution.

You may furnish it to EPFO through your current employer with an application for transfer request with revised and updated form 3 A enclosed.

This should resolve your issue.

Best wishes;

Milind Vadjikar |650 Answers |Ask -Follow

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

Question by Anirban - Nov 06, 2024Hindi

Money

My old pf of trust got transfered to curent pf account , both under same UAN no. I can see two pf accounts when i do account log in with UAN, but i can not withdraw from old account neither i can see combined ammount instead i see my old and current pf account. When i raised grievance i got reply from pf office that my old pf got transfered to cureent account. Now i can not raise new grievance within one month. How will i draw old amount or get get old amount get added in current account .please advise

Ans: Hello;

Since you had different member IDs while you were working for two different legal entities they are shown differently under same UAN.

If you want to transfer funds from old member ID to new member ID then you need to have a clear date of exit(DOE) mentioned.

Under the online claim option you can find One Member Transfer option. Just fill that form. submit the transfer request. Then select the present employer to approve your transfer details.

First it will be approved by the current Employer and after that it will be sent to Field Officer.

It will take 5 to 21 days for transferring your account from old member Id to new.

Best wishes;

Milind Vadjikar |650 Answers |Ask -Follow

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

Question by Anirban - Nov 06, 2024Hindi

Money

Hi sir, i am working in a company since 2010. That time i had pf under a old account in Bangalore as trust account till 2016 when my company got separated from parent comoany and we got new pf account in Gurgaon with same UAN no. We got a mail from company that we will raise online transfer from old to current pf account. When i do account login with UAN no , I can see two lines..one for old and another for current one with balances. When i tried to raise complaint through grievances I got reply from PF office that my old account transfered to new account, but under UAN I can see two accounts still and now able to draw amount from old account. So what will i do now to add old amount to new PF account's account.kindly advise

Ans: Hello;

Since you had different member IDs while you were working for two different legal entities they are shown differently under same UAN.

If you want to transfer funds from old member ID to new member ID then you need to have a clear date of exit(DOE) mentioned.

Under the online claim option you can find One Member Transfer option. Just fill that form. submit the transfer request. Then select the present employer to approve your transfer details.

First it will be approved by the current Employer and after that it will be sent to Field Officer.

It will take 5 to 21 days for transferring your account from old member Id to new.

Best wishes;

Milind Vadjikar |650 Answers |Ask -Follow

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

Question by Urmi - Nov 08, 2024Hindi

Money

Hello I am 37 years old . Following is my financial status 1. FD - 1.5 CRORES 2. MF - 25 LAKHS 3. PROVIDENT FUND - 27 LAKH 4. PPF 3 LAKH INVESTMENTS 1. MUTUAL FUNDS - 90 K per month 2. PPF - 1.5 lakh per year 3.PF - 5 lakhs per year 4.NPS - 10 K per month I have one flat. I want to retire at 47 years of age . I will have a pension of 3.5 lakhs after I retire . My present monthly expenses are 1.3 lakhs . My goals are 1. One child education 2. World travel 3.Own house . Can I retire at the age of 47 fulfilling my commitment.

Ans: Hello;

Let us try to put monetary value to your goals:

1. Child education: 1 Cr
2. World Travel: 40 L (for 2)
3. House: 1.5 to 2 Cr
Grand Total: 3.4 Cr

Current holdings:
1. FD- 1.5 Cr
2. MF-25 L
3. PF-27 L
4. PPF-3L

Ongoing monthly Investments:
1. MF-90 K
2. PPF- 12.5 K
3. NPS-10 K
4. PF-41.66 K

Value of current corpus and ongoing investments 10 years hence:
1. MF-2.51 Cr
2. PPF-27.49 L
3. PF-1.25 Cr
Grand Total: 3.76 Cr

Since your investment value is comfortably above your goal value means you can fulfill your goals as envisaged.

You have a assured pension after retirement despite that you are making disciplined investments into NPS is a commendable aspect.

It can help to boost your retirement income after 60.

Happy Investing;

Milind Vadjikar |650 Answers |Ask -Follow

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

Asked by Anonymous - Nov 12, 2024Hindi

Money

I am 46 years old, have a income of 2.8 lacs with variable pay every month after tax deduction. My total CTC is approx 66 lakhs/annum with stock. I have 2 flats worth 1.8 crores, one land worth 9 lakhs, one ancestral land worth 45 lakhs, have company stocks worth 20 to 30 lakhs. PPF current is 32 lakhs for 21 years of experience. My liabilities are home loan worth 80 lakhs. My monthly expenses including EMI is 1.8 Lakhs. My kid education cost 2-3 lakh per annum in Bangalore and she is 12 years in grade 7. Can you help me, how much I need to save every month, so I can have 6-7 crores in liquid money in 10 years and how much should I have for retirement plan by 65+

Ans: Hello;

You may start a monthly sip of 80 K and top it up every year by 20% to reach a corpus of 4 Cr after 10 years considering modest return of 12%.

The land parcels(45+9= 54 L) and company stock(20 L) if sold and the proceeds reinvested in mutual funds for 10 years may yield you a corpus of around 2.3 Cr after 10 years.

So you may accumulate a cumulative corpus of 4+2.3=6.3 Cr after 10 years, as planned.

If you invest 20 K in NPS per month you may reach a corpus of 1 Cr+ in 19 years from now.

You may need a corpus of 8 Cr to generate a retirement income of 2.8 L per month (post-tax) to cover your inflation indexed regular expenses sans the EMI.

Happy Investing;
X: @mars_invest

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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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