I have passed my 12th examination and now I am preparing for Neet UG exam but now I feel like I am quite depressed because this is my 2nd attempt.... What should I do???

Ans: Hi,

Based on the information provided, its difficult to provide specific responses. Even then, let me try to guide you with some pointers.

Savings -
As I understand your income and expenses do not leave any saving at this time. With 1 lakh income and 25K rent, you have 75k for other expenses. So first start by looking at these, create a budget for various expenses and see if there is any potential to make adjustments and arrive at saving a few thousands. Even a saving of 2k every month has a potential to build 10 lakhs in 15 years. So no amount is too small. Start small and keep looking for ways to save more with time.
Rent is also something to think about. Is there anyways to reduce it, a smaller house or another area or something that can work for you. When you consider new place keep in mind the over all expense you will incur not just rent, e.g. travel expenses. Overall there should be a benefit in terms of real savings in hand every month.

Loan -
Going for a loan to support your parents house will put additional burden on your budget. Do they live in the same city, if so is there an option to live with them. This can help service EMI with the rent saved.

Empower your spouse -
Another option to consider is your spouse's potential to contribute to the household income. You can encourage her towards something that she can start either a job or something on her own, may be tuitions or any other interests, anything that can generate a little more income to support/increase your savings.

Career -
As for your own future in IT, I can understand it may look challenging. Look for additional skills you can develop on the job. Many organizations have career growth options with trainings and new areas of focus where they would prefer an existing employee they can train and utilize. So look within your organization and even outside. Developing new skills can be 1 way to stay relevant in IT. Keep yourself updated with new tools and techniques to get an edge over others.
Also consider any other areas of interest/expertise you have or can develop for an alternate career. I have been in the IT industry too for a long time. Somewhere in the middle of my IT career I developed interest towards finance and specifically personal finance area and pursued it with passion and eventually I started it as a profession/business.
So look for your areas of interest.

Thanks & Regards
Janak Patel
Certified Financial Planner.

Ans: You have done many things right already. You are earning well, living within your means, and thinking of your family. You have real assets, a good emergency fund, and multiple investments. The intent to raise your son in sports and support your brother’s kids is admirable. Let us go step by step.

? Income and Cash Flow Assessment

– Your total family income is Rs.2.81 lakhs per month.
– This includes salaries and rental income.
– You have a home loan EMI of Rs.20000.
– You also get Rs.25000 rent from commercial property.
– The outflow seems manageable with this income.

You already keep aside Rs.20 lakhs as emergency fund.
This is well thought out. Please continue to keep it updated with inflation.
Ensure this is in a liquid mutual fund or sweep-in FD for easy access.

Now let’s move into goal planning and wealth building.

? Portfolio Overview and Observations

– You have Rs.19 lakhs in mutual funds.
– Most are in direct growth plans.
– You also hold index funds and thematic funds.
– NPS and EPF together have over Rs.19 lakhs.
– You have Rs.2.5 lakhs in stocks.
– You hold Rs.4 lakhs in NCDs.
– You own two houses and a commercial property.
– Your wife owns gold of 300 grams.

Overall, your asset mix is wide and strong.
But few gaps exist. Some assets may underperform long term.
We need to align all assets towards your family’s life goals.

? Disadvantages of Index Funds and Direct Mutual Funds

You hold multiple index funds. Also, all mutual funds are direct plans.

Problems with index funds:

– They simply copy market index.
– No active management.
– No outperformance during bull phases.
– Fall fully during bear phases.
– Cannot protect downside.
– Do not beat inflation well in the long run.

Problems with direct mutual funds:

– Lower cost, but no guidance or review.
– No support in selecting suitable funds.
– Risk of overlapping and over-diversification.
– Emotional decisions can hurt portfolio.
– No asset rebalancing or goal linking.
– Hard to track or monitor performance deeply.

You will benefit more from regular mutual fund plans
through a Certified Financial Planner.
They ensure portfolio reviews and better fund selection.
They help you match investments with real goals.

The service value is higher than the slightly higher cost.

? Plan for Your Son’s Sports and Education Journey

This is a meaningful and high-impact goal.

– Archery is a disciplined sport.
– Needs equipment, coaching, travel, and time.
– Start planning financially right away.

Do this:

– Estimate yearly coaching and sports costs.
– Allocate a SIP from now only for sports expenses.
– Use equity mutual funds with long-term view.
– Set aside Rs.10000 monthly towards this.
– Keep this portfolio separate from other goals.

Also, for his academic education:

– Set a separate goal-based investment for school and college.
– Education in Chennai metro will be costly.
– Keep Rs.10000 per month as SIP for education.
– Choose 2-3 well-managed diversified equity mutual funds.
– Keep reviewing yearly and increase SIP over time.

This dual-approach ensures your son gets exposure to both
sports and studies without any funding stress.

? Planning Support for Brother’s Children

This shows your long-term vision and care for your extended family.
They stay in semi-urban area, so education costs may be moderate.
Still, cost will increase over time.

– You can help them through a dedicated fund.
– Start SIP of Rs.5000 per month for this purpose.
– Invest in equity mutual funds with 10-15 year view.
– Withdraw only for their college or higher education.
– Let the fund grow untouched till then.

Keep this separate from your own child’s funds.
It avoids confusion and keeps planning clear.

Also, educate your brother about savings and child education plans.
Guide him to start small SIPs or open Sukanya or PPF accounts.

? Retirement Planning – Your and Your Wife’s Future

You are 39. Your wife is 31. You both have 20-25 years to build retirement wealth.
This time is very important.

Currently you have:

– Rs.7.5 lakhs in NPS
– Rs.8.5 lakhs in EPF
– Rs.3 lakhs NPS (wife)
– Rs.3 lakhs EPF (wife)

These are good. But not enough alone.

What to do:

– Start dedicated SIP for retirement.
– Invest Rs.15000 per month from your income.
– Your wife can invest Rs.10000 monthly.
– Use equity-oriented mutual funds.
– Choose regular plans with CFP-backed guidance.
– Review once every year.

Avoid depending on real estate or gold for retirement.
They are not liquid or tax efficient during old age.

Mutual fund retirement corpus can be withdrawn in parts.
Tax on equity funds is also predictable.

NPS is locked till 60. Use it as support only.
Don’t rely fully on it.

Build a retirement plan that keeps you comfortable
even if rental income slows down or stops later.

? Review of Existing Real Assets and Loans

You have:

– Two houses (Rs.50 lakhs each)
– One commercial go-down (Rs.1 crore)
– One vacant plot (Rs.7 lakhs)
– Agri paddy field (Rs.3 lakhs)

Out of this, only one house and go-down are yielding rent.
Second house and vacant land are not productive now.
Also, gold of 300 grams is passive holding.

Suggestions:

– Don’t increase real estate further.
– Avoid buying new plots or homes.
– Real estate gives low returns over time.
– High cost, low liquidity, and poor taxation.
– Maintenance and legal issues increase in old age.

Instead:

– Focus on mutual funds for growth.
– Mutual funds are liquid, diversified, and efficient.
– You can withdraw partially for goals.

Your current EMI of Rs.20000 is fine.
Loan balance is only Rs.12 lakhs.
Try to close it in 3 years.
Use bonuses or surplus rent for closure.

? What You Should Do with Gold and Stocks

You hold 300 grams gold.
This is fine as safety asset.

Do not invest more in gold going forward.
Returns are low and erratic.
Better to use mutual funds or EPF/NPS.

You also have Rs.2.5 lakhs in direct stocks.
Ensure this is in quality companies.
Don’t increase stock investing unless you have expertise.

Stocks need time and knowledge.
Mutual funds offer better risk handling.
Focus more on mutual fund SIPs for all goals.

? Insurance Coverage Review

You have:

– Rs.50 lakhs term insurance (self)
– Rs.5 lakhs health insurance (each)
– Additional corporate health cover

Suggestions:

– Increase term insurance to Rs.1 crore minimum.
– For your wife, take Rs.50 lakhs term cover.
– This protects your son if anything happens.
– Corporate health insurance is not permanent.
– Keep separate retail health plans active always.

Also, include critical illness riders if possible.
Medical inflation is very high.

? Estate Planning – Very Important for Families Like Yours

Since both your fathers are no more,
You understand the need for clarity in future.

– Prepare a Will for both husband and wife.
– Mention all assets clearly.
– Assign guardianship for your son.
– Include your intention to support your nephews.
– This avoids confusion and legal issues later.

Also, keep nominee details updated in:

– Mutual funds
– NPS and EPF
– Bank accounts
– Insurance policies

This brings peace of mind and security.

? Ideal Monthly Budget Structure from Your Current Income

You earn Rs.2.81 lakhs monthly.
You can follow this ideal budget model:

– 30% for all household expenses (Rs.84000)
– 10% for EMI and loans (Rs.20000)
– 10% for insurance premiums (Rs.20000)
– 40% for investments and goals (Rs.1.12 lakhs)
– 10% for lifestyle, travel or miscellaneous (Rs.28000)

This way you enjoy life, stay protected, and build wealth peacefully.

? How to Monitor Your Plan Every Year

Each year, do these 5 reviews:

– Check if SIPs are linked to your goals
– Increase SIP amounts as income grows
– Review mutual fund performance
– Track actual cost of sports and education
– Ensure insurance and emergency funds are adequate

A Certified Financial Planner can do this yearly review.
This keeps your plan aligned and stress-free.

? Finally

You are financially strong today.
You have a good mix of income, assets, and savings.
You care about your family and extended family.
You are future-focused and responsible.

Please take the next steps now:

– Shift your direct mutual funds to regular plans through a CFP
– Exit index funds and thematic funds gradually
– Stick to diversified actively managed equity funds
– Allocate funds to son’s sports and education
– Start retirement SIPs immediately
– Review term and health covers
– Complete your Wills this year
– Avoid more real estate or gold investments

With this 360-degree plan, you can reach your goals peacefully.
You can raise your son with values, health, education, and talent.
And also uplift your brother’s kids quietly and strongly.

Best Regards,
K. Ramalingam, MBA, CFP,
Chief Financial Planner,
www.holisticinvestment.in
https://www.youtube.com/@HolisticInvestment

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Ans: Hi Yashaswi, firstly I believe you are parking money in LICs above 1L per year which is ineffecient use of money, you can have better investments which will yield better returns for your kids' education. Secondly, about your plans for the land, there has to be a goal based investment plan in place to achieve the target. You will have to back calculate to come to an investment amount that you can do per month after factoring in inflation and expected returns from the asset. Visit the website www.slwealthsolutions.com and let me know if you would like to have a detailed conversation around this :)

Ans: Dear Anonymous,
I understand that there’s nostalgia and a certain familiarity at play here, but as you said yourself, this isn’t fair to your husband. I wouldn’t have said this if you even once mentioned that you reconnected as friends. But, it seems mildly romantic from where I am standing. Plus, I am assuming that your husband doesn’t know about this reconnection. It’s truly unfair to him. I suggest either creating a little more distance from your ex, and building boundaries, and most importantly, speak to your husband and let him know that you reconnected. I am sure it feels very nice to get attention from someone who was once important to you, but I assure you that this isn’t worth ruining your happy marriage. New attention always feels good at first, but eventually this too will become routine. Please tread carefully.

Hope this helps.

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Ans: Hi,

You have about 15-20 years before retirement and that's a good time period to accumulate a good retirement corpus.

Your son's education will remain your priority during this period also. Assuming you can fund his education from your monthly income at least till his 10th/12 grade. You can decide on an amount for his graduation/post graduation that you want to provide to him. For example if you want to provide 10 lakhs when he is 18 years old, you will need to start investing a monthly SIP amount of 2000 in mutual funds assuming returns of 12%. So based on the amount required you can calculate the SIP amount required.

You have EPF of 2 lakhs which is not sufficient today but assuming you continue contributions and after 15 years this can be a considerable amount. But still may not be sufficient for retirement, so you can consider it as part of/contribution to your retirement.

So lets look at your FDs - you have 50 lakhs in FDs. Even at 7% interest on them you are not going to beat inflation as you will need to pay tax on the interest income.
This money has a potential to earn better returns and not just beat inflation, but also create a retirement corpus which can be sufficient for 20 years (this depends on your expenses also).

If you split this 50 lakhs and keep 5 lakhs in FDs for emergencies, you can invest the remaining 45 lakhs to create a good corpus.
If you invest 45 lakhs in Mutual funds and assuming a return of 12% over 15 years, you will have a corpus of approx. 2.70 crores.
With 15-20 years for retirement, you have an advantage to achieve your goals.

Though these numbers may look good now, they have to be evaluated with all other parameters like your monthly expenses, other goals in life, Son's education needs etc.

I recommend you consult a CFP or a fee based advisor and discuss all aspects towards a financial plan that will cover Retirement and all other goals. The Plan will help you better prepare for the future and provide alternatives and options and a clear roadmap towards achieving them. It will also cover aspects of health and life insurance.

Thanks & Regards
Janak Patel
Certified Financial Planner.