Home > Career > Question
Need Expert Advice?Our Gurus Can Help
Baqar Iftikhar

Baqar Iftikhar Naqvi  |112 Answers  |Ask -

Start-up Mentor - Answered on Feb 19, 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
Asked by Anonymous - Feb 12, 2024Hindi
Listen
Career

Mr Baqar, my retirement dream is to start a business in Indore or Bhopal maybe a restaurant or a fast food chain. I am 47 and have savings worth Rs 25-30 lakhs. Can you suggest a safe business model I can invest in? Should I go for a franchise model or set up something of my own? Please suggest some ideas

Ans: You should definitely go for a franchise business as the chances of success are higher and also you will get to learn about running a restaurant business. Resturant operations are complex and there are so many restaurant that open and close within a short time. it is hence best to go with a safer fanchise option.
Career

You may like to see similar questions and answers below

Harsh

Harsh Bharwani  |56 Answers  |Ask -

Entrepreneurship Expert - Answered on Oct 19, 2023

Asked by Anonymous - Oct 11, 2023Hindi
Listen
Career
Hi, I am a Chartered Accountant by profession having more than 20 years of corporate experience, I have a burnt desire to establish my own venture. I can invest up to Rs 1 Cr. Could you please suggest me what kind of business i should go for. I don't want to go for conventional audit or accounting firm. Could you please share few ideas to see the growing make in India market in line with vision development by 2047 Thank you!
Ans: Certainly, to suggest a business idea, it's helpful to consider your interests, skills, and resources. Here are a few business ideas across different sectors that you might consider:

Online Retail Store: If you have a passion for a particular niche, consider starting an online store. E-commerce is a growing industry, and you can sell products related to your interests.

Consulting or Freelancing: If you have expertise in a specific field, consider offering consulting or freelancing services. This can include areas like marketing, finance, IT, or any skill you possess.

Food Business: If you enjoy cooking or have a unique food product, you could start a food business. Options include a food truck, catering service, or selling specialty food products online.

Health and Wellness: With the increasing focus on health and wellness, you could start a business related to fitness training, nutrition coaching, or wellness products.

Educational Services: Since you work in an educational institute, you might consider starting a tutoring center, offering exam preparation courses, or creating educational content online.

Technology Services: If you're tech-savvy, you could offer services like website development, app development, or IT support.

Event Planning: Event planning can be a rewarding business if you have good organizational skills. You could specialize in weddings, corporate events, or other types of gatherings.

Content Creation: If you have a talent for writing, graphic design, or video production, consider offering content creation services. This can be for businesses, bloggers, or social media influencers.

Handmade Crafts and Art: If you're skilled in crafts or art, you can sell your creations online or at local craft fairs.

Real Estate: If you have knowledge of the local real estate market, you could become a real estate agent or start a property management company.

Subscription Box Service: Create a subscription box with curated products related to a specific theme or niche.

Eco-Friendly Business: Consider starting a business focused on eco-friendly products or services. This can include eco-friendly cleaning products, reusable items, or green energy solutions.

Pet Services: If you love animals, consider a business related to pets, such as a pet grooming service, pet-sitting, or an online pet store.

Local Farming or Gardening: If you have space, you can start a small farm or garden and sell produce or plants locally.

Social Media Management: If you're skilled in social media, offer social media management services to businesses looking to improve their online presence.

..Read more

Ramalingam

Ramalingam Kalirajan  |6326 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on Jul 10, 2024

Money
Hi, I am 27 and running a restaurant business in my town for 4.5yrs now. I have a profit of 1.2l to 1.5l per month after all expenses. The restaurant is fully mine including the land. Due to my parents death on a accident, their savings, FDs and MFs are now given to me. But don't know about market so didn't invested till now. I want to retire at age of 50. My savings is some about 2l and Fds are 5l. My parents money is Savings of 7l, Fds of 50l and Mfs of 75l. Can you please suggest me where to invest or how to plan my retirement so that monthly income can be good enough so that my children's education and any emergency can be handled. Thanks
Ans: You’re 27 and running a successful restaurant business. You have a monthly profit of Rs. 1.2 to 1.5 lakhs after expenses. You’ve inherited savings, FDs, and MFs from your parents, and you want to retire by 50 with a comfortable monthly income to support your children's education and handle emergencies.

Income and Assets Overview
Monthly Profit: Rs. 1.2 to 1.5 lakhs

Savings: Rs. 2 lakhs

Fixed Deposits (FDs): Rs. 5 lakhs (your savings) + Rs. 50 lakhs (parents’ savings)

Mutual Funds (MFs): Rs. 75 lakhs (parents’ investments)

Parents’ Savings: Rs. 7 lakhs

Establishing Financial Goals
Retirement at Age 50: You have 23 years to build a substantial retirement corpus.

Children’s Education: Plan for your future children’s education expenses.

Emergency Fund: Set aside funds to cover unforeseen expenses.

Budgeting and Emergency Fund
Monthly Budget: Allocate a portion of your monthly profit towards expenses, savings, and investments.

Emergency Fund: Save at least 6 months’ worth of expenses in a liquid, easily accessible account. This can be around Rs. 9-10 lakhs based on your current monthly profit.

Investing in Mutual Funds
Mutual funds are a great way to grow your wealth over time. Let’s explore different types and their benefits.

Equity Mutual Funds
Equity Funds: Invest in stocks and have high growth potential. Suitable for long-term goals but come with higher risks.

Power of Compounding: Over time, compounding helps your investments grow exponentially. Reinvested earnings generate more returns.

Debt Mutual Funds
Debt Funds: Invest in government and corporate bonds. They offer stable returns with lower risk compared to equity funds.

Advantages: Suitable for short to medium-term goals and provide a steady income.

Balancing Your Portfolio
Diversification: Spread your investments across different asset classes (equity, debt, balanced funds) to manage risk.

Balanced Funds: These invest in a mix of equities and debt instruments. They provide a balanced risk-reward profile.

Systematic Investment Plan (SIP)
SIP: Invest a fixed amount regularly. It’s a disciplined way to invest in mutual funds and benefits from rupee cost averaging.

Benefits: SIPs help in mitigating market volatility and building a substantial corpus over time.

Evaluating Existing Investments
Parents’ Mutual Funds: Assess the performance of your parents’ mutual funds. If they are underperforming, consider switching to better-performing funds.

Fixed Deposits: FDs offer safety but lower returns. Consider moving some FDs to mutual funds for better growth.

Insurance Coverage
Health Insurance: Ensure you have adequate health insurance coverage to manage medical expenses.

Life Insurance: If you have any existing LIC, ULIP, or other investment cum insurance policies, assess their performance. If they are not performing well, consider surrendering them and reinvesting in mutual funds.

Creating a Retirement Corpus
Retirement Planning: To retire comfortably by 50, you need a significant retirement corpus. Start by calculating your expected expenses during retirement.

Monthly Savings: Allocate a significant portion of your monthly profit towards retirement savings. Aim to save at least 20-30% of your income.

Long-Term Investments: Focus on equity mutual funds for long-term growth. Use SIPs to invest regularly and build your retirement corpus.

Children’s Education Planning
Education Fund: Education costs are rising, so start saving early. Use a mix of equity and debt funds to build a substantial education fund.

SIPs for Education: Start SIPs in mutual funds dedicated to your children’s education. This will ensure you have enough funds when needed.

Seeking Professional Help
Certified Financial Planner (CFP): Consider consulting a CFP for personalized advice. They can help you create a comprehensive financial plan based on your goals and risk tolerance.

Regular Review: Regularly review and adjust your financial plan to ensure you stay on track.

Advantages of Actively Managed Funds
Active Management: Actively managed funds aim to outperform the market through strategic investments. They provide better returns compared to index funds.

Disadvantages of Index Funds: Index funds simply track the market and do not offer potential for higher returns. They are more suitable for passive investors.

Avoiding Direct Funds
Direct Funds: Direct funds require you to choose and manage your investments. This can be challenging without expertise.

Benefits of Regular Funds: Investing through a certified financial planner provides expert guidance and better management of your investments.

Financial Discipline
Avoid Debt: Try to avoid unnecessary debt. If you have any existing loans, prioritize paying them off.

Control Spending: Be mindful of your spending habits. Avoid impulse purchases and stick to your budget.

Final Insights
Managing your finances effectively can help you achieve your goal of retiring comfortably by 50. Focus on budgeting, saving, and investing wisely in mutual funds. Ensure adequate insurance coverage, avoid unnecessary debt, and regularly review your financial plan. Your proactive steps and willingness to adapt will lead to a secure and comfortable financial future.

Best Regards,

K. Ramalingam, MBA, CFP

Chief Financial Planner

www.holisticinvestment.in

..Read more

Latest Questions
Milind

Milind Vadjikar  |150 Answers  |Ask -

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

Asked by Anonymous - Sep 10, 2024Hindi
Listen
Money
Hi, I am 56 with a take home salary of about 5L per month and expect to retire in 4 years. I have about 1.2 cr in PF+PPF and 4 properties worth 2.5Cr. Cash in hand 40L and equity worth 25L. From Jan24, investing about 2L per month in MF + Shares + others and wish to continue to next 4 years. Daughter is working and likely to get married in next 2 years (anticipate a spend of 35L). Son will join MBBS in 2 years with expected fee of 30L per year. Have no loans and well covered for mediclaim and term insurance. Am i covered for the expenses? Please suggest ...
Ans: Hello;

Your PF+PPF balance you can keep untouched so it may grow into a corpus of 1.6 Cr(7.5% growth rate assumed) + regular contributions over 4 years, at the end of your work life.

At your age I recommend you to resist temptation of dealing in direct stocks or even pure equity mutual funds due to the very high risk of volatility.

I propose you to put 30 L(6 month pay coverage) as emergency fund in ICICI Pru Liquid fund(Best returns on 6M criteria)+ facility of instant redemption upto 50K & balance T+1 working day.

10 L balance from cash in hand + 25 L of stock holdings could be invested in Tata money market debt fund(best returns on 1 year criteria). Both these funds have moderate & low to moderate risk profile respectively. This will serve as your corpus for daughter's marriage and grow for 2 years in the meanwhile.

The 2L investment per month which you have began from Jan-24 is expected to go into MF sip+ direct stocks+ other.

For the other investment you are the best judge but here again I would humbly appeal to you to avoid equity MFs and direct stocks considering your age and high risks associated with these asset type direct exposure.

I propose you to invest in equity savings fund instead which are less riskier then pure equity funds and can yield decent return too. I recommend two funds in this category with best returns on 5 yr criteria & AUM above 1K Cr. Mirae Asset equity savings fund and Kotak equity savings fund.

A 2 L sip into these two funds for 4 years will yield a corpus of 1.16 Cr (Modest return of 9% considered). This will fully cover the cost of education for your son.

The best aspect of your financial planning which I admire and respect is No loans, well covered for mediclaim, term insurance and investment in real estate.

I have given my opinion, ultimately you are the best judge.

Feel free to revert in case of any query.

You may follow us on X at @mars_invest for updates

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

...Read more

Dr Dipankar

Dr Dipankar Dutta  |609 Answers  |Ask -

Tech Careers and Skill Development Expert - Answered on Sep 17, 2024

Asked by Anonymous - Sep 17, 2024Hindi
Listen
Career
Sir I am btech - industrial biotechnology (4 years ) student. Now I'm in 3 rd year . My family financial situations didn't ain't me study msc or mtech or going abroad. So.. I'm planning to work hard for an year to get government job in my biotech field. However, biotech in india is just in it's initial stages . I didn't find good jobs in biotech industry for graduates and I even google many times about this concern. Could you please guide me ? What are best rated - government and private jobs in biotechnology field for biotech graduates ? I want each of jobs list If not any other alternatives ? What are the entrance exams I can appear for mtech pursuing at free of cost in India ? Is there any entrance exams to get a govt job in biotech field for graduates ? I'm bothered with many quests???????? I'm so... Worried about my career . Hope I'll get my answers from your team as soon as possible Thank you ????
Ans: Biotechnology graduates can apply for various positions in government organizations, research institutes, and labs. Below are some of the key government organizations where biotechnology graduates can find jobs:

Government Organizations:
Department of Biotechnology (DBT)
Council of Scientific and Industrial Research (CSIR)
Indian Council of Medical Research (ICMR)
National Institute of Immunology (NII)
All India Institute of Medical Sciences (AIIMS)
Biotech Consortium India Limited (BCIL)
Food Safety and Standards Authority of India (FSSAI)
Indian Institute of Technology (IITs) as technical assistants or lab technicians
Central Drugs Standard Control Organization (CDSCO)
Defense Research and Development Organization (DRDO)
Public sector units (PSUs) like Bharat Immunologicals and Biologicals Corporation Limited (BIBCOL)

Key Entrance Exams:
GATE (Graduate Aptitude Test in Engineering): Scores in the Biotechnology paper can help you get into prestigious institutes like IITs and NITs for M.Tech with scholarships.
DBT JRF BET: Provides a fellowship to pursue a PhD in biotechnology.
ICMR JRF: For research fellowship and PhD positions.
CSIR UGC NET: For lectureships and research in biotechnology.
JNU CEEB: For postgraduate programs in biotechnology across many universities in India.

...Read more

Milind

Milind Vadjikar  |150 Answers  |Ask -

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

Asked by Anonymous - Sep 09, 2024Hindi
Listen
Money
Hi I am 44 years old working for almost 21years now. I have accumulated close to1.6Cr of corpus through diversified portfolio in FD, MF, Stocks etc. I am undergoing health issue post recovery from a major illness and not able to mentally and physically cope up with the demand of the Job which is paying me around 2.5L/Month. I want to settle for a less demanding job even at 50% lesser salary. With my current corpus how to invest it so that i get a monthly interest to maintain my current lifestyle without reducing my corpus.
Ans: You can buy immediate annuity from an insurance company for your corpus of 1.6 Cr as joint holding by you and your spouse and return of purchase price to you, your spouse or nominee either after completion of tenure or expiry of the annuity holder/s.

Assuming modest rate of 6% will yield you a monthly income of 80K per month(pre-tax).

You can always negotiate and shop to get a better rate for your annuity.

If you suppliment this with low stress, less exertion job at 50% of your current salary you will have monthly income of 1.25 L + 0.8L = 2.05 L per month.

Although annuity rates are typically lower you can lock them for a longer tenure.

Most companies or banks offer 5 year FDs.

Few do offer 10 year FDs but then you have TDS deducted at 10% from your interest payout. Also FDs are not entirely risk free.

In case of annuity TDS is not deducted, so far, since tax liability is with the annuity holder.

Please do take care of your health and wish you speedy recovery.

In case you any other concerns, feel free to revert.

...Read more

Milind

Milind Vadjikar  |150 Answers  |Ask -

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

Asked by Anonymous - Sep 17, 2024Hindi
Listen
Money
Sir, I had invested in HDFC Sanchay Plus in Long-Term Income Plan. It was a insurance and regular income plan for a period of 30 years. I paid up for five years as mandated by the policy. The pay out would commence from 7th year annually upto 30 years. The principal amount would be paid on completion of 30th year of enrollment. I appears the return of investment was less than 5% and diminishes further with time. I decided to withdraw from the scheme however the HDFC Life is deducting a huge sum from the invested amount. I requested to atleast return the principal amount invested without any add-on. But HDFC Life is referring to the policy clause and declining to return the invested amount. How can I retrieve the invested amount in this scenario. Thanking you in anticipation.
Ans: Most of the people make this mistake of considering insurance coupled with investment as good combination. The fact that insurance regulator allows insurance companies to use words such as "Guaranteed", "Assured" which entice gullible investors, makes things more difficult.

Endowment or money back policies never yield return over 5 to 6%.

Even ULIP policy returns above a threshold will now be subject to long term capital gain tax apart from fund management, policy administration and other heavy charges during first 5 years.

Insurance is for pure protection hence term insurance with appropriate riders is best option.

Unfortunately there is no way you can seek higher surrender value payment because you are contractually obligated by the terms and conditions of the policy agreement.

...Read more

Milind

Milind Vadjikar  |150 Answers  |Ask -

Insurance, Stocks, MF, PF Expert - Answered on Sep 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.

Close  

You haven't logged in yet. To ask a question, Please Log in below
Login

A verification OTP will be sent to this
Mobile Number / Email

Enter OTP
A 6 digit code has been sent to

Resend OTP in120seconds

Dear User, You have not registered yet. Please register by filling the fields below to get expert answers from our Gurus
Sign up

By signing up, you agree to our
Terms & Conditions and Privacy Policy

Already have an account?

Enter OTP
A 6 digit code has been sent to Mobile

Resend OTP in120seconds

x