Dear Mayank,
In the last six months, I lost one job and quit the next job in a few months.
Should I add it to my resume or should I avoid mentioning it and say I took a 6 month sabbatical? 
I have not updated it on my social media and LinkedIn profile.
I don't want to ruin my prospects of getting a job in the future. 
Is there something I need to keep in mind before applying for the next job?
Swati

Ans: You purchased the Kotak Premier Endowment Plan in 2020. This plan combines insurance with savings. The sum assured is Rs. 2.82 lakhs, and the annual premium is Rs. 32,000.

You’ve already paid Rs. 1.28 lakhs over four years. The premium payment term is 10 years, and the maturity term is 17 years. The surrender value is currently Rs. 82,000, meaning a loss of Rs. 46,000.

Now, you are contemplating whether to continue with this plan or surrender and invest elsewhere.

Evaluating Endowment Plans
Endowment plans typically offer low returns compared to other investment options.
Most endowment plans have a return rate of 4-6%.
The main benefit is insurance coverage, which is often inadequate.
By continuing with this plan, your money may not grow significantly. It also locks your funds for a long period.

Advantages of Surrendering
By surrendering, you free up Rs. 82,000.
You stop further premium payments, avoiding additional allocation to a low-return product.
You can reallocate the funds to better-performing investment options.
Drawbacks of Surrendering
You lose Rs. 46,000 from the premiums paid so far.
Early surrender often results in reduced returns.
The plan’s long-term guaranteed returns will no longer apply.
Alternative Investments
If you surrender, the next step is reinvesting wisely.

Equity Mutual Funds: Offers long-term wealth creation. These funds outperform endowment plans in the long run.
Small-Cap Funds: For higher risk appetite, this can provide superior returns.
Debt Mutual Funds: Suitable for lower risk tolerance. Ideal for stable and predictable returns.
PPF (Public Provident Fund): A safe and tax-efficient option for long-term goals.
Benefits of Actively Managed Mutual Funds
Active funds often outperform benchmarks.
Professional fund managers actively monitor market opportunities.
You benefit from diversification and risk management.
Avoid direct funds unless you’re a seasoned investor. A Certified Financial Planner (CFP) or mutual fund distributor ensures better guidance.

Why Insurance Should Be Separate
Insurance-cum-investment plans like endowment are not ideal.
Term insurance offers high coverage at low costs.
Use the money saved from premiums for pure investments.
Tax Implications
Surrendering may have tax implications. Check if your premiums qualified for Section 80C.
New gains from investments may attract taxation. For equity mutual funds, LTCG above Rs. 1.25 lakh is taxed at 12.5%.
360-Degree Financial Assessment
Financial Goals: Align investments with your goals (e.g., retirement, children’s education).
Risk Appetite: Choose investments matching your comfort level with risk.
Emergency Fund: Maintain liquid funds to handle financial emergencies.
Debt Management: Clear high-interest liabilities before investing.
Portfolio Review: Balance investments between equity, debt, and fixed income.
Final Insights
The decision depends on your long-term goals. Surrendering is better if the plan does not align with your financial strategy. Reallocate wisely to maximize returns. Consult a Certified Financial Planner for personalized advice.

Best Regards,

K. Ramalingam, MBA, CFP,

Chief Financial Planner,
www.holisticinvestment.in
https://www.youtube.com/@HolisticInvestment

Ans: Hello;

You may submit a joint declaration with your employer and supporting documents to the Regional PF Commissioner for your name correction as per PAN. Take proper acknowledgement.

Follow up regularly with the concerned authorities to ensure your request is being processed timely.

The EPFO usually takes 15–30 days to process a name change request. The processing time may vary based on the efficiency of the regional EPF office.

Name has to be strictly same as per your PAN, Aadhar, bank and even spelling change is flagged as per EPF system.

Best wishes;

Ans: Hello Aashish.
It is not mandatory to do PG right now, but it is recommended that you do so if you wish to boost your career in Clinical Research and want stability in your job. Best of luck with your future.

If satisfied, please like and follow me.
If dissatisfied with the reply, please ask again without hesitation.
Thanks.

Radheshyam

Ans: Hello AK.
(1) You can appear for JEE (Main) Paper-2 i.e. B.Arch.
(2) There will be no problem in JOSAA counseling.
(3) As you are appearing in the subjects 'mathematics" this year, then please fill out as "Appearing".
(4) There will be no issue @ SPA's and NIT's admission if you score the required percentile in JEE (Main)
Best of luck to your upcoming future.

If satisfied, please like and follow me.
If dissatisfied with the reply, please ask again without hesitation.
Thanks.

Radheshyam

Ans: Hello;

If you do a monthly sip in pure equity mutual funds for 18 K for 5 years then you may reach a corpus of around 15 L, for accumulating sum over 25 L you may have to give 8 years to your investments.

Please ascertain your risk tolerance before you venture into mutual funds.

Happy Investing;

Ans: Hello;

Since your house is old, you have two options:

1. Sell without indexation and pay 12.5% LTCG tax.

2. Sell with indexation and pay 20% LTCG tax.

In both cases you are allowed to deduct renovation and transfer expenses.

You need to consult a CA to know exactly what is allowed and what is not allowed as per ITax Act.

Also if you get any queries from IT Deptt., later on, you can rely on the written advice and consultancy provided by a practising CA.

Best wishes;

Ans: Hello;

Two big responsibilities are ahead of you:

Home Loan repayment(40 L) and
Higher education for your son

You can dip into your savings to prepay your loan but your retirement corpus gets reduced plus you will also have to earmark some fund(~40-50 L) for son's higher education.

Therefore my suggestion to you would be to postpone retirement atleast till 55 age so that you will have more retirement corpus, time for prepayment of home loan and clarity on son's higher education expenses.

Take adequate healthcare insurance cover for family.

Best wishes;

Ans: Hello;

You need to top up your monthly sip of 3.5 K by 14-15% every year for 23 years so as to be able to reach target corpus of 1.5 Cr. in next 23 years.

A modest return of 12% assumed from pure equity mutual funds.

Happy Investing;

Ans: Hello;

The optimal solution for you would be to buy an immediate annuity from a life insurance company for your corpus of 2 Cr.

Considering annuity rate of 6%, this may yield you a monthly payout of around 85 K(post-tax).

You may choose option of joint life(you & your spouse) annuity with return of purchase price to your nominee.

If you shop around, you can better annuity rates.

Consider increasing your health care cover upto 25 L considering rise in cost of healthcare.

Also keep sum of 5-6 L as emergency funds in savings account/liquid mutual funds.

Best wishes;