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Stuck with Changing Fields: How Can a 35 LPA earner Achieve Stability at 34?

Nayagam P

Nayagam P P  |3908 Answers  |Ask -

Career Counsellor - Answered on Nov 11, 2024

Nayagam is a certified career counsellor and the founder of EduJob360.
He started his career as an HR professional and has over 10 years of experience in tutoring and mentoring students from Classes 8 to 12, helping them choose the right stream, course and college/university.
He also counsels students on how to prepare for entrance exams for getting admission into reputed universities /colleges for their graduate/postgraduate courses.
He has guided both fresh graduates and experienced professionals on how to write a resume, how to prepare for job interviews and how to negotiate their salary when joining a new job.
Nayagam has published an eBook, Professional Resume Writing Without Googling.
He has a postgraduate degree in human resources from Bhartiya Vidya Bhavan, Delhi, a postgraduate diploma in labour law from Madras University, a postgraduate diploma in school counselling from Symbiosis, Pune, and a certification in child psychology from Counsel India.
He has also completed his master’s degree in career counselling from ICCC-Mindler and Counsel, India.
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Asked by Anonymous - Nov 11, 2024Hindi
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Career

I have somehow reached 35 lpa aged 34 years of age. Total experience -12 years -7 years post MBA. The problem I have changed the trade/industry twice, hence not materialized on any trade handling operations role across - apparels, printing books, and now renewable energy sector. How do I prepare for senior roles and stable job, tenure>5 years.

Ans: Sir, To secure a stable career in senior roles, identify your core strengths and skills, specialize or broaden your expertise, develop industry-specific knowledge, target senior leadership roles, pursue relevant certifications or courses, network and mentorship, prioritize stability in your next move, and enhance your executive presence. Focus on leadership, strategic thinking, stakeholder management, and operational efficiency, and reflect on roles where you've added significant value. Develop industry-specific knowledge, pursue relevant certifications or courses, and connect with industry leaders for guidance. Prioritize organizations with a history of retaining talent in leadership roles through LinkedIn. All the BEST for Your Prosperous Future, Sir.

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Mayank

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Hello Mayank,I am a commerce graduate and have around 15 years of experience in back office operations.I am currently working at the document management department in an oil and gas MNC at a designation equivalent to that of a senior clerk.I am nearing 40 and I will be losing my current job in the next few months.My problem is that I am searching for a new job since one year but not getting any interviews. I guess this is due to my age (I am 40 and still at the clerical level) and my salary (around Rs 50,000) which is a bit on higher side with respect to my designation in my city.I don't have the skillsets or attitude for a team leader or managerial position.At present, I am not in a financial and mental state to acquire new skill sets, learn new things or start new businesses which are obvious suggestions.I can't work in BPOs as they don't hire associates at this salary and particularly at this age. Besides, I am not comfortable working night shifts.Could you suggest some different solution to my problem as I have already figured out/tried the common ones.Thanks in advance.Name withheld on request.
Ans:

Hi.

Your question has so many ‘I can't’ statements that you have yourself ruled out many feasible options.

Please remember that, in the job market, there are many more qualified people than there are decent jobs. So you will certainly need to change your mindset and be flexible to adapt and learn new skill sets.

Even Sachin Tendulkar had to adapt to T-20 to play the IPL!

Approach the situation with a positive mindset and things will work out for you.

..Read more

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Milind

Milind Vadjikar  |650 Answers  |Ask -

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

Asked by Anonymous - Nov 14, 2024Hindi
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Money
Hello finance guru, I am 45 years old , with 2 kids. I live in a Tier-1 city with ~49 Crores of networth. This includes ~12 crores of investment in real estate (land and a flat at a prime location), ~34 crores in equity, ~1 Cr in Crypto and ~2 Cr in cash. I work in a pharmaceutical firm in an executive role and planning to retire in the next 1 year. My knowledge on finances is average and would like to seek your advise. I would like to generate ~2.5 lakhs per month for expenses from my savings and would like to double my networth in the next 7 years. Could you provide me help on the directions I can take to make this working?
Ans: Hello;

Deducting the real estate and crypto investments from your networth, we have 36 Cr.

You may invest 4 Cr each in 2 equity savings type mutual funds and 2 conservative hybrid debt oriented mutual funds.

If you do a 3% SWP from each of these funds you may expect a monthly payout of around 2.8 L (post-tax).

These funds generally yield 8-9% returns so they will continue to provide inflation adjusted income to you.(6% inflation rate considered)

Balance remains around 20 Cr, while 2 Cr may be retained as liquid fund for contingency requirement, the balance 18 Cr you may invest in combination of mutual funds, PMSs and AIFs.

As you enter retirement phase your focus should shift from "maximising returns" to "decent returns with moderate risk" since return of capital is more important than return on capital.

Happy Investing;
X: @mars_invest

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

...Read more

Milind

Milind Vadjikar  |650 Answers  |Ask -

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

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Dear Sir, I am 53 yrs. I want to retire @60 with a INR 2.00 Cr Corps. Currently I have following SIP Total SIP 30000/- PM Axis Bluechip Fund - Regular Plan - Growth HDFC Mid-Cap Opportunities Fund - Growth Plan Aditya Birla Sun Life Pure Value Fund - Growth Option Aditya Birla Sun Life Equity Advantage Fund - Regular Growth Sundaram Mid Cap Fund Regular Plan - Growth Bajaj Finserv Flexi Cap Fund -Regular Plan-Growth Franklin India Focused Equity Fund - Growth Plan Franklin India Smaller Companies Fund-Growth HDFC Top 100 Fund - Growth Option HDFC Multi Cap Fund - Growth Option I have MF Investment @ 26.00 Lakh Current Value is @ 52.00 Lakh. I have Savings of Rs. 10.00 Lakh, PPF Rs. 5.00 Lakh, Share investment Current Market Value around Rs. 20.00 Lakhs. I don't have any Loan. Insurance INR 1.50 Cr. up age of 70. Per month earning around Rs. 1.25 Lakh. I have a Investment in real estate which can give my INR 40.00 Lakh at current Market Price & Gold Investment of INR 20.00 Lakh which I think sufficient for my daughter Marriage. Current Monthly Expense INR 40-50 K. I am in a new tax regime, so discontinue my ELSS saving and PPF Saving. Suggest how i can increase my Corpus for retirement.
Ans: Hello;

You may top-up your monthly sip by 10% every year for 7 years. This will grow into a sum of around 0.51 Cr.

The MF corpus and direct equity holdings worth 0.72 Cr today will grow into a corpus of 1.59 Cr after 7 years.

Therefore you may achieve your intended corpus of 1.59+ 0.51=2.1 Cr, 7 years from now. A modest return of 12% is assumed from MF and direct equity holdings.

2-3 years before 60 you should start moving your gains from equity funds to liquid or ultra short duration debt funds to protect it against market volatility.

Also good health care insurance for yourself and your spouse.

RE property you may sell at a later date to boost your retirement income.

Happy Investing;
X: @mars_invest

...Read more

Milind

Milind Vadjikar  |650 Answers  |Ask -

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

Milind

Milind Vadjikar  |650 Answers  |Ask -

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

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