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R P

R P Yadav  |304 Answers  |Ask -

HR, Workspace Expert - Answered on Jan 30, 2024

R P Yadav is the founder, chairman and managing director of Genius Consultants Limited, a 30-year-old human resources solutions company.
Over the years, he has been the recipient of numerous awards including the Lifetime Achievement Award from World HR Congress and HR Person Of The Year from Public Relations Council of India.
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Mohamed Question by Mohamed on Dec 12, 2023Hindi
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Hi, sir myself Mohamed umar I am 32 year old who is working as accounts assistant till I am working in mid scale company but I always wanted to work in big MNC firm where I earn more and grow job wise but no MNC accepting my mid scale organisation experience how to resolve this what certification I can do get the job at MNCs

Ans: Hello Mohamed Umar, I understand that you are looking to transition from your current mid-scale company to a big MNC firm. It’s great to hear that you are looking to grow your career.

It’s not uncommon for MNCs to prefer candidates with experience in larger organizations. However, there are several steps you can take to improve your chances of getting hired by an MNC. Here are some tips:

Get certified: Earning a certification in a relevant field can help demonstrate your knowledge and skills to potential employers. For example, if you are interested in finance, you could consider earning a certification such as the Chartered Financial Analyst (CFA) designation.

Network: Networking is a great way to meet people who work in the industry you are interested in. Attend industry events, join professional organizations, and connect with people on LinkedIn. You never know who might be able to help you land your dream job.

Gain relevant experience: If you are having trouble getting hired by an MNC, consider gaining experience in a related field. This could include working for a larger organization or taking on a role that is related to the field you are interested in.

Apply for entry-level positions: If you are having trouble getting hired for a more senior position, consider applying for entry-level positions. This will give you the opportunity to gain experience and work your way up the ladder.

Tailor your resume and cover letter: Make sure that your resume and cover letter are tailored to the specific job you are applying for. Highlight your relevant experience and skills, and make sure that your application stands out from the crowd.

I hope these tips help you in your job search. Best of luck!
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Moneywize

Moneywize   |122 Answers  |Ask -

Financial Planner - Answered on Jun 25, 2024

Asked by Anonymous - Jun 13, 2024Hindi
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Ours is a family of 3 people -- My wife, I and my daughter who is 15. I am 39, my wife is 37 and our monthly expenses are Rs 90K. I own my house and expect to have no fixed income after 65 years, and expect to live till 75. Considering the ever increasing price rise what should be my corpus at 65 for me to continue living the life style I am living today?
Ans: Calculating your retirement corpus:

Here's how to estimate the corpus you'll need to maintain your current lifestyle after retirement:

1. Retirement period:

You plan to retire at 65 and expect to live till 75. So, your retirement period is 75 - 65 = 10 years.

2. Inflation adjustment:

You've rightly considered inflation. To estimate future expenses, we need to factor in inflation. A safe assumption for India is 5-7% inflation. Let's take an average of 6%.

3. Current monthly expenses:

You spend Rs 90,000 per month currently.

4. Future monthly expenses:

To find the monthly expense at retirement (at 65), we need to consider inflation for 26 years (39 years till retirement + 10 years retirement).

You can use an inflation calculator online or a simple formula:

Future monthly expense = Current monthly expense * (1 + Inflation rate)^number of years

In your case, Future monthly expense = Rs 90,000 * (1 + 0.06)^26 ≈ Rs 3,28,550 (approximately Rs 3.29 lakh)

5. Total corpus calculation:

Now you can calculate the total corpus needed. Here's a common approach:

Total corpus = Monthly expense * Number of years in retirement * 12 (months)

However, this method doesn't consider the fact that you'll be withdrawing money every month, reducing the corpus. A more accurate method is using the Time Value of Money (TVM) concept. There are online TVM calculators or Excel functions you can use.

Here's an alternative approach that provides a reasonable estimate:

Multiply the future monthly expense (Rs 3.29 lakh) by a factor considering inflation over the period. This factor can vary depending on your risk tolerance and investment strategy. A factor of 200 is often used as a conservative estimate.
Total corpus = Rs 3.29 lakh/month * 200 (factor) = Rs 6.58 crore (approximately Rs 658 million)

Additional factors to consider:

• Daughter's future expenses: Your daughter will be an adult by the time you retire. While she won't be financially dependent, consider any potential future support you might want to provide for her education or marriage.
• Healthcare costs: Healthcare expenses tend to increase with age. Factor in potential medical needs during retirement.
• Debt: If you have any outstanding debt by the time you retire, you'll need to account for its repayment in your corpus calculation.
• Investment returns: The corpus amount assumes a certain rate of return on your investments. Research different investment options and their potential returns to refine your calculations.

Recommendation:

Consult a financial advisor for a personalised retirement plan considering your specific financial situation, risk tolerance, and investment goals. They can help you create a more comprehensive plan and suggest suitable investment strategies to achieve your corpus target.

Remember, this is an estimate. Regularly review your plan and adjust it based on changing circumstances.

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Mayank

Mayank Chandel  |1003 Answers  |Ask -

IIT-JEE, NEET-UG, SAT, CLAT, CA, CS Exam Expert - Answered on Jun 24, 2024

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