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Abhishek Shah |76 Answers |Ask -Follow

HR Expert - Answered on Feb 09, 2023

Abhishek Shah is an experienced tech and HR leader. He has over 10 years of experience in helping create sustainable thriving businesses, leveraging technology and mentoring people. He founded Testlify, a talent assessment platform in 2022. He is passionate about helping founders build high-performing tech teams. ... more

Question by VIJAYA on Feb 09, 2023Hindi

Career

I am retiring in August, 2023. My job doesn't offer me any retirement benefits like Pension. I do not have a house. I have Rs.1.8 Crores. How to plan my retirement. Planning to invest 1.5 crores in Annuity schemes. Guide.

Ans: Hello Vijaya,

Here are a few steps you can take to help plan your retirement:

Assess your expenses: Determine your estimated monthly expenses, including housing, food, transportation, health care, and entertainment. This will give you a good idea of how much money you will need to cover your expenses each month.

Create a budget: Based on your estimated expenses, create a budget that prioritizes your expenses and makes the best use of your resources.

Consider annuity plans: Investing 1.5 crores in annuity plans can provide you with a steady stream of income during your retirement. It's important to compare different annuity plans and consider factors such as interest rates, guarantees, and flexibility before making a decision.

Consider other investment options: In addition to annuity plans, you might consider other investment options, such as bonds, mutual funds, or stocks. These investments can offer potential for higher returns, but also carry greater risk.

Make a plan for long-term care: As you get older, it's important to plan for the possibility of needing long-term care. You might consider purchasing long-term care insurance, or setting aside funds in a dedicated account for this purpose.

Seek professional advice: Retirement planning can be complex, so it's a good idea to seek the advice of a financial advisor. An advisor can help you develop a personalized retirement plan based on your specific goals, resources, and risk tolerance.

Remember, retirement planning is an ongoing process and it's important to review and adjust your plan as needed over time.

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Question by BHASKAR - Nov 16, 2022Hindi

Money

I am retiring on 1st December 2022, Retirement amount 1 Cr. What should I do for retirement Planning?

Ans: You can invest in 4 funds equally, 2 debt funds (Banking and PSU and Corporate Bond Fund) and 2 Hybrid funds in Balanced category.

Should do a SWP of 7% of the corpus for the monthly expenses.

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Question by Girie - Nov 02, 2023Hindi

Money

I am 50 Year old working in IT and my annual CTC is 30Lakhs. I have current investments worth approximately around 2+ crores in form of Retirals, FD, Insurance, Pension, Shares and MF. My monthly expenses are coming to approx. 50K and i have two kids (9 year and 5 year) doing schooling. Please let me know how to perform retiring planning considering kids education and health expenses. I also have my individual house and dont have any EMI's at the moement. I dont have plan to work long time, might stick to work for next 2-3 years.

Ans: Given your current financial situation, it's commendable that you've accumulated substantial investments and have no outstanding debts. To plan for retirement while also considering your children's education and healthcare expenses, consider the following steps:

Assess Your Financial Goals: Determine your retirement age, desired lifestyle, and estimated expenses post-retirement, including children's education and healthcare costs.

Budgeting: Create a detailed budget outlining your monthly expenses, including children's education and healthcare costs. Ensure you allocate funds for these expenses while also maintaining your current lifestyle.

Investment Diversification: Review your existing investments and ensure they are aligned with your financial goals and risk tolerance. Consider diversifying your investment portfolio with a mix of equity funds, debt instruments, and real estate to mitigate risk and maximize returns.

Education Planning: Start saving for your children's education by investing in education-focused investment vehicles such as mutual funds or education savings plans. Consider the inflation rate and projected education costs to determine the required investment amount.

Health Insurance: Ensure you have adequate health insurance coverage for yourself and your family to mitigate the financial impact of any medical emergencies or healthcare expenses.

Retirement Corpus Calculation: Estimate the corpus required to sustain your desired lifestyle post-retirement, factoring in inflation, life expectancy, and other variables. Consider consulting a financial advisor for a comprehensive retirement planning strategy tailored to your needs.

Emergency Fund: Maintain an emergency fund equivalent to at least six months' worth of expenses to cover unexpected financial setbacks or emergencies.

By following these steps and regularly reviewing your financial plan, you can effectively balance retirement planning with your children's education and healthcare expenses, ensuring a secure financial future for you and your family.

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Question by Nidhi - Apr 23, 2024Hindi

Career

Sir I have done masters in Electronics and got regular job after 1.5 years of gap in computer science labs age 33 now.what are the career options if i want to switch in MNCs

Ans: Either you will have to look at jobs that is similar to what you are doing now, or will have to reskill yourself in some relevant technology and then look for jobs in that field.

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Asked by Anonymous - Apr 23, 2024Hindi

Career

Hello sir, I am graduate in b.com , MBA in general management from ICFAI, Tripura. Worked as banker for 6 years since 2008. On career break since 2014 but during this time I did my MBA and worked as freelance in recruitment and as subject matter expert in finance. Since 2020 , no projects and due to family health issues discontinued . In 2022 moved to Hyderabad and did CSPO certification from Scrum Alliance and recently completed a course in Oracle fusion financial functional consultant. But after all efforts I am not getting job because of career gap. Please suggest how women can re- enter in non banking sector. Please suggest. Thankyou.

Ans: There are jobs available, you will have to keep searching. Check your network of friends, apply through placement agency, upload your cv on job portals etc. Try to take up a job in relevant domain even if you are not completely satisfied with it and then keep searching, Else the gap would increase,

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Question by Pritam - Apr 27, 2024Hindi

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I did btech in cse in a state government college but after graduation I thought of preparing for cat and other MBA exam, I reached till interview of ximb but was rejected at last and current job market seems to be down , I'm thinking of doing a data analytics course in bengaluru/Hyderabad? Is it a good idea ? Please reply

Ans: One option is to try for CAT again. You already have learning experience from your first attempt and that could help you to perform better in the 2nd attempt. Can do a course simultaneously or can do a job in Data Analytics. When you decide your career path try to see the demand in the industry as well as what you are interested in.

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Question by srinivasu - Apr 28, 2024Hindi

Career

Hi, i am currently doing btech computer science from iit tirupati ,3rd year,i want to study ms in MIT,Stanford,UoB,caltech,how to get in,what i should prepare

Ans: Most of these courses would require GRE as an entrance test.
Usually the first step is to find the admission procedure for each of these colleges. Check the deadline and what is required. Also check the date when you have to submit the scores and then plan your preparation for the exams accordingly. Usually the US universities would have weightage for extra and co curricular activities. Check that out and get involved with those activities.

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Asked by Anonymous - Apr 28, 2024Hindi

Career

I have my graduation in electronic and communication.I have career gap 2019-2023 .I started a business but unfortunately we failed ,I want a job in IT Industry what should we do for getting a job as a fresher

Ans: Hello

2019-23 is not a career gap but a learning period where you tried entrepreneurship. Please tell your potential employer about that.

Try in the companies which are in the similar areas in which you tried your business, they will value your experience.

Failed entrepreneurship is an invaluable experience because now you know what all NOT to do.

You are indeed a. Fighter, you will do very well. All the best.

Best regards

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Ramalingam Kalirajan |939 Answers |Ask -Follow

Mutual Funds, Financial Planning Expert - Answered on Apr 29, 2024

Asked by Anonymous - Apr 27, 2024Hindi

Money

Hello Sir, I am looking at imvesting around Rs.20,000 per month in SIP with good returns and overall balanced portfolio along with some us stock exposure (Parag Parikh kind of funds). Please provide your valuable suggest in which mutual funds should I invest or is ETF better option

Ans: When considering your investment strategy, actively managed funds can offer distinct advantages over ETFs. Actively managed funds are overseen by professional fund managers who actively research and select investments they believe will outperform the market. This active management can potentially lead to higher returns compared to passively managed ETFs.

Furthermore, actively managed funds have the flexibility to adapt to changing market conditions and exploit emerging opportunities. Fund managers can adjust their portfolios in response to market trends, economic indicators, and company-specific developments, aiming to optimize returns while managing risk.

On the other hand, ETFs, while offering low expense ratios and broad market exposure, often deliver only mediocre returns. Since they passively track an index, ETFs are unable to take advantage of market inefficiencies or capitalize on undervalued securities in the same way actively managed funds can.

Considering your desire for balanced returns and exposure to US stocks akin to Parag Parikh-like funds, actively managed funds offer a more suitable option. They provide the potential for superior performance while aligning with your investment objectives and preferences. Working with a Certified Financial Planner can help you identify the most appropriate actively managed funds to include in your portfolio.

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Ramalingam Kalirajan |939 Answers |Ask -Follow

Mutual Funds, Financial Planning Expert - Answered on Apr 29, 2024

Asked by Anonymous - Apr 28, 2024Hindi

Money

Hello, I am 25 years old. Due to personal reasons I invest in only 100% equity mutual funds that do not invest in banking stocks. Currently I am investing in 3 mutual funds: Nippon India Power & Infra direct growth, Taurus Ethical fund and Tata Ethical fund. I have set Tata ethical fund aside as a retirement fund. Can you suggest where can I invest more (sectoral mfs or gold etf etc.)to correctly diversify my portfolio.

Ans: Given your current allocation to 100% equity mutual funds without exposure to banking stocks, let's explore other avenues for diversification while respecting your investment preferences.

One option is to consider adding a component of debt instruments to your portfolio. Debt mutual funds can provide stability and income generation, complementing the growth-oriented equity funds you're already invested in. Look for funds with high-quality debt securities and a track record of consistent returns.

Another avenue to explore is allocating a portion of your portfolio to gold. Gold ETFs or sovereign gold bonds can act as a hedge against inflation and currency fluctuations, diversifying your portfolio and reducing overall risk.

Additionally, you might consider increasing your exposure to international equities. Investing in global markets can provide access to a broader range of opportunities and reduce reliance on any single market or economy.

Ultimately, the key is to maintain a balanced portfolio that aligns with your risk tolerance and long-term financial goals. Consulting with a Certified Financial Planner can help you navigate these options and tailor a diversified investment strategy that suits your needs.

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Question by SATISH - Apr 28, 2024Hindi

Money

I have invested in mutual funds and sold 1 Lak of short term funds after 4 years to get 3000 Rs gain. Which ITR should I file 1 or 2?

Ans: As a Certified Financial Planner, I'd advise you to file ITR-2 for this scenario. ITR-2 is applicable for individuals and Hindu Undivided Families (HUFs) who have income from capital gains or more complex sources like multiple properties or foreign income. Since you've sold short-term mutual funds, which fall under the category of capital gains, and earned a gain of Rs. 3000, it's appropriate to use ITR-2 to report this income.

Additionally, ITR-2 allows for the disclosure of income from salary, house property, capital gains, and other sources, making it suitable for individuals with diverse income streams. Ensure you accurately report all relevant details of your mutual fund transactions and any other income you may have earned during the financial year.

Consulting with a tax advisor or accountant can provide further clarity and ensure you file your taxes correctly, maximizing your tax efficiency while staying compliant with regulations.

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Question by Harish - Apr 28, 2024Hindi

Money

I have a lumpsum amount of 20lakh to invest but have no idea how to invest to get a steady monthly income.

Ans: It's understandable to feel uncertain about how to make your lump sum work for you. As a Certified Financial Planner, I'm here to help navigate this journey with you. Have you considered the power of diversification?

Diversification is like spreading your bets across multiple horses in a race rather than putting all your money on just one. In the investment world, it means allocating your funds across different types of assets like stocks, bonds, and maybe even commodities or real estate investment trusts (REITs). This way, if one asset underperforms, others may compensate, reducing overall risk.

Active funds are managed by professional fund managers who actively research and select investments they believe will outperform the market. This active management can potentially lead to higher returns compared to simply tracking an index.

Regular funds, accessed through a Mutual Fund Distributor (MFD), provide a structured approach to investing. Your MFD can offer personalized advice and support, helping you navigate the complexities of the market and make informed decisions.

Ultimately, the goal is to create a portfolio that balances risk and reward, tailored to your unique circumstances and financial goals. Together with a Certified Financial Planner and your MFD, we can design a strategy that aims to provide you with a steady monthly income while safeguarding your financial future.

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Ramalingam Kalirajan |939 Answers |Ask -Follow

Mutual Funds, Financial Planning Expert - Answered on Apr 29, 2024

Question by Akshat - Apr 28, 2024Hindi

Money

My salary is 80k in hand and I don’t have any other liability. My parents are dependent on me. My job is in Gurgaon and I stay at 5 hours of travel. I go to office thrice a week. I have a property that’s between my father and uncle. My uncle is asking to sell it offf while my father wants to keep it. Should I take a home loan of 12 lakhs for 4 years or not??

Ans: It sounds like you're facing a significant decision regarding your financial future, especially with your family's dependence on you. Have you considered the broader implications of taking on additional debt? As a Certified Financial Planner, my concern is not just about the numbers but also about ensuring your overall well-being.

Taking a home loan of 12 lakhs over four years might seem like a solution, but it's crucial to weigh the pros and cons. Consider the impact on your monthly cash flow, especially with your salary and travel expenses. Reflect on your long-term goals and whether this loan aligns with them.

Additionally, the dynamics surrounding your property add another layer of complexity. Have you discussed the situation thoroughly with your family, considering both your father's and uncle's perspectives?

Ultimately, the decision rests on finding a balance between your financial obligations, your family's needs, and your own aspirations. Let's explore all angles together to ensure you make the choice that best serves your future.

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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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