My Son is in Std 12th and is pursuing PCMC and aspired to appear JEE along with SAT, CET. Now he says that he will not pursue JEE and will be interested to appear CET & SAT...he seems to be without any aim ...When asked abt his dream he is saying he is not sure or rather does not want to convey to parents. We put him in a school with is integrated and gives CBSE with JEE coaching. I would like you to suggest how can we bring out what he wants to do ..He is taking things very casually..whenever he studies he keeps his headphone on and when asked he says that this is the he remembers things...He is not giving hajjis 100 % and always into an argument whenever we ask questions on his career/studies. He was in a hostel in his 11th and now not even interested to go back there but at home he is not even focused. As parents please advise us what need to be done and what will be best for him..He is intelligent and scores 80% but has a capability to get 95%

Ans: Dear Anonymous,
Both of you had decided much earlier to end it at some point. It's happened...And your partner kept his end of the promise; do the same and respect what has happened.
Love is not that hold people but liberates them into freedom. Let it go...in time, you will heal...

All the best!

Ans: Dear Anonymous,
Well, it's your control over the way your mind thinks...
If you want to play upon what's happened, then making up and trying to be in the marriage is going to be a difficult proposition. So, decide how you want to play this? Will you train your mind to look forward and rebuilding the marriage OR do you wish to keep at what's happened and live in the past? This is your choice to make...Of course, you cannot erase what's happened but you can change the way that you feel about it...
So, first make that choice. If you wish to dwell on the past, do know that your relationship will sour sooner than later. If you wish to move things ahead, then:
- rebuild the lost trust by spending more time together
- every time you slip into the past, remind yourself that you made the choice to move ahead
- make a clear and positive image of hwo you want your married life to be and play it up in your mind several times in a day

These are a few ways of changing the way you think about an incident and teaches you to move ahead more in a focused manner. Make a choice and stick by it.

All the best!

Ans: Dear Anonymous,
Would you think it will be cruel if I suggested that you throw him out?.
He has to be taught a lesson and the one who resorts to physical abuse for being corrected by his own mother needs a bit of harsh treatment. It's sad that this is your son treating you this way but since he is dependent on you for money, the day you stop giving him money and ask him to leave, you will be doing not just yourself but your son a huge favor.
Parents from the bird and animal kingdom do just that to enable their young ones to fend for themselves as they will not be around them forever.
Instead of giving your son the message that you will take care of his needs, kindly enable him to take care of himself and then he can do what he wishes to...Remember, that you still have the upper hand as you are making the money!

All the best!

Ans: Here’s a response regarding e-insurance, converting physical policies, and mediclaim options for senior citizens in India, keeping in mind your age and potential limitations with technology:

E-Insurance (Electronic Insurance)

E-insurance refers to purchasing and managing insurance policies entirely online. This eliminates the need for physical paperwork and offers several benefits:

• Convenience: Access and manage policies 24/7 from anywhere with an internet connection.
• Speed: Get quotes and purchase policies quickly without waiting for agents or mail.
• Transparency: Easily view policy details, track claims, and renew coverage online.
• Efficiency: Pay premiums electronically and receive claim settlements faster.

Converting Physical Policies to Digital Format

While directly converting a physical policy to digital format might not be an option with all insurers, many companies offer the ability to manage existing policies online after registering on their websites or apps. Here's a general process (steps may vary by insurer):

• Visit your insurer's website. Look for a section on "Customer Login" or "Policy Management."
• Register or create an account. You'll likely need policy details like policy number and your personal information.
• Link your existing policy. Once registered, follow the insurer's instructions to link your physical policy to your online account.
• If you encounter difficulties, contact your insurance company's customer service department for assistance. They can guide you through the process or provide alternative solutions.

Mediclaim Policies for Senior Citizens in India

Many insurance companies in India offer mediclaim (health insurance) policies specifically designed for senior citizens. These plans typically cater to the unique needs of older adults, considering factors like:

• Pre-existing conditions: Look for policies with shorter waiting periods for coverage of pre-existing ailments.
• Renewal options: Choose plans that guarantee renewal throughout your lifetime, even if you develop health conditions.
• Network hospitals: Opt for policies with a wide network of hospitals to ensure convenient access to healthcare facilities.
• Sum insured: Select a sufficient sum insured to cover potential medical expenses.

Considering Your Age:

Given your age of 70, it's advisable to:

• Contact your existing insurance company: They might offer the option to manage your policy online or suggest a senior-friendly mediclaim plan.
• Seek help from family members or trusted advisors: If navigating online processes is challenging, involve someone you trust to assist you in researching and comparing plans.

Remember:

• Read policy documents carefully before purchasing any mediclaim policy. Understand the coverage details, exclusions, and claim settlement procedure.
• Disclose pre-existing medical conditions accurately during the application process to avoid claim rejections.

I hope this information empowers you to make informed decisions about your insurance needs!

Ans: I can't calculate your exact capital gains tax on the land sale as it depends on several factors not mentioned yet. However, I can explain how it's generally calculated in India and provide some guidance:

Factors affecting your capital gains tax:

Holding period: There are two types of capital gains tax on land - long-term capital gains (LTCG) and short-term capital gains (STCG).
LTCG applies if you held the land for more than 24 months. It benefits from an indexation mechanism that adjusts the purchase price for inflation, reducing your taxable gains.
STCG applies if you held the land for 24 months or less. The tax is calculated on the difference between the selling price and the purchase price without indexation.
Purchase price: This is the original price you paid for the land along with any documented improvement costs.
Sale price: This is the amount you received for the land sale minus any selling expenses.
Tax Rates:

LTCG: Currently, LTCG on land is taxed at 20% with indexation. However, you can save tax on LTCG by reinvesting the gains in specific options like new residential property or government bonds under relevant sections of the Income Tax Act.
STCG: STCG on land is taxed at a flat rate of 20% without indexation.
Recommendation:

To determine your exact capital gains tax liability, it's best to consult a chartered accountant (CA) or a tax advisor. They can consider all the factors mentioned above and calculate the tax based on your specific situation. They can also advise you on potential tax saving options available under the Income Tax Act for LTCG.

Ans: Sovereign Gold Bonds (SGBs) issued by the RBI can be a good option for long-term investment in gold, depending on your overall financial goals and risk tolerance. Here's a breakdown of the pros and cons to help you decide:

Pros:

Safe investment: SGBs are backed by the Government of India, making them a safe investment.
Assured returns: You get a fixed interest rate (currently 2.5%) on your investment, paid semi-annually, regardless of gold price fluctuations.
Tax benefits: Capital gains at maturity are exempt from tax if you hold the bond till maturity. Interest income is taxable, but not subject to TDS.
Eliminates storage risks: You avoid the risks and costs associated with storing physical gold.
Liquidity: SGBs are tradable on stock exchanges after the initial lock-in period (usually 5 years).
Cons:

Lock-in period: SGBs typically have a lock-in period, limiting your access to the principal amount during that time.
Price volatility: The gold price itself can fluctuate, and you might not get a high return if the price falls significantly during the investment period.
Lower returns compared to other options: SGBs may offer lower returns compared to some stocks or mutual funds over the long term.
Overall, SGBs can be a good fit for investors seeking a safe and reliable way to invest in gold for the long term. They offer a hedge against inflation and currency fluctuations, with the added benefit of regular interest income.

Here are some additional things to consider:

Your investment horizon: If you need access to your money before the maturity period, SGBs might not be the best option.
Your risk tolerance: If you are uncomfortable with price fluctuations in gold, SGBs might not be ideal.
Your portfolio allocation: SGBs should ideally be a part of a diversified portfolio, not your sole investment.
It's wise to do your own research and consult with a financial advisor before investing in SGBs. They can help you assess your risk tolerance and determine if SGBs are a good fit for your financial goals.

Ans: It's understandable to feel overwhelmed by the vast array of mutual funds available in the market. The investment landscape can indeed seem complex, especially for small and medium investors navigating their way through various options.

Regulation is crucial in ensuring fairness and transparency in the financial markets, particularly to protect retail investors from potential exploitation. Regulatory bodies like the Securities and Exchange Board of India (SEBI) play a vital role in overseeing mutual funds and enforcing compliance with regulatory standards.

However, despite regulations, it's essential for investors to remain vigilant and informed about their investment decisions. Educating oneself about the fundamentals of investing, understanding different types of mutual funds, and seeking advice from trustworthy sources can help mitigate risks associated with investing.

While there may be instances of misconduct or unethical practices in the industry, many financial advisors and professionals genuinely strive to serve their clients' best interests. Choosing a reputable advisor or financial planner who operates with integrity and transparency can significantly enhance the investment experience for retail investors.

As investors, it's crucial to advocate for greater transparency, accountability, and investor protection measures within the financial industry. By staying informed, engaging with regulatory authorities, and holding financial institutions accountable, we can contribute to creating a more equitable and secure investment environment for all.

Ans: It's great to see your enthusiasm for starting your investment journey at such a young age. Since you're new to investing, it's essential to prioritize understanding your risk tolerance and investment goals.

For your MF investment of Rs. 10,000 per month, you can consider starting with a balanced mutual fund or a diversified equity fund. These types of funds offer a mix of equity and debt instruments, providing a good balance between potential returns and risk. Look for funds with a track record of consistent performance and a low expense ratio.

Before investing, take some time to research and learn about different MF options, consider seeking advice from a Certified Financial Planner, or use online resources and investment platforms that offer guidance for beginners.

Remember to stay disciplined with your investments and regularly review your portfolio to ensure it aligns with your financial goals and risk tolerance. As you gain more experience and confidence, you can explore diversifying your investment portfolio further.

Ans: Vishal and Shanti, it's inspiring to see how diligently you've built your portfolio over the years, especially while juggling busy professional lives and raising two adorable sons. Your dedication to securing your family's future is truly commendable.

Considering your aspirations to grow your portfolio to 10 Crore in the next 5 years, diversifying your investments beyond the Indian market through SIPs in MFs is a prudent move. It reflects your forward-thinking approach to wealth creation.

Before deciding to sell one of your apartments to invest in the China fund, reflect on the potential risks and rewards. Are you comfortable with the level of exposure to international markets, especially given the current geopolitical climate? Would the sale of the apartment significantly impact your overall financial stability and future plans?

As a Certified Financial Planner, my advice would be to carefully evaluate your investment goals, risk tolerance, and the long-term prospects of the China fund before making any decisions. Your journey towards financial success is a testament to your hard work and resilience. Keep navigating with wisdom and foresight, always prioritizing the well-being of your family.