Chemical Engineer Needs Advice: Best Courses to Boost My Career?

Ans: Hello dear.
Prefer NIT Surathkal if possible.

Good luck.
Follow me if you receive this reply.
Radheshyam

Ans: Hello Shabnam.
Reconsider the idea of dropping out. Or please do not take the drop. If you are comfortable studying abroad, then you may prefer the place of your interest.

Good luck.
Follow me if you receive this reply.
Radheshyam

Ans: Hello Ramesh.
Prefer Mech @ IIT Roorkee.

Good luck.
Follow me if you receive this reply.
Radheshyam

Ans: Hello dear.
If possible, prefer Chemical @ NIT Warangal. The final decision will be yours.

Good luck.
Follow me if you receive this reply.
Radheshyam

Ans: You’re 39 years old, working in IT. You have around Rs. 60 lakh in savings across stocks, mutual funds, FD, and PF. You live in a rented home and have a 4-year-old daughter. You also feel job uncertainty due to skill changes and market pressure. You want a path toward financial freedom, and a normal, stable future. That is both wise and timely.

Let’s now look at a step-by-step, 360-degree financial plan. This is structured for your current life, responsibilities, risks, and goals.

? Build a Strong Emergency Fund Immediately
– This is your safety net during job loss or health issues.
– Keep 6 to 12 months of expenses as liquid cash.
– Don’t keep it in a savings account.
– Use liquid mutual funds with overnight redemption feature.
– This amount should be separate from your other investments.
– Use only when there is a real emergency.

? Evaluate Your Current Rs. 60 Lakh Portfolio
– Split your portfolio mentally into three buckets:
Short-term, medium-term, and long-term goals.
– You may be holding random investments now.
– That won’t help you during uncertainty.
– Map each rupee to a clear goal and timeline.
– Do not mix emergency funds, daughter’s goals, and retirement.
– Separate them properly, then track and invest accordingly.

? Avoid Index Funds and Direct Plans
– If any portion is in index funds, review them closely.
– Index funds lack downside protection.
– They fall as much as the market does.
– They also cannot outperform market returns.
– This is risky when job income is uncertain.
– Shift to actively managed mutual funds.
– These are managed by experts who adjust holdings.
– That gives better risk control and return potential.

– If any investments are in direct mutual funds, reconsider them.
– Direct plans don’t offer guidance or reviews.
– Wrong funds can silently eat your savings.
– Invest through regular plans via a Certified Financial Planner.
– You will get better fund selection, tracking, and peace of mind.

? Don’t Depend Too Much on Stocks
– Stocks are very risky without proper planning.
– If you hold individual stocks, check the exposure.
– Avoid more than 10-15% of your portfolio in direct stocks.
– Stock values can drop sharply and delay your goals.
– Mutual funds offer better diversification and monitoring.
– Gradually shift stocks into mutual funds via a plan.

? Recheck Your Life and Health Insurance
– Life insurance is vital if you have dependents.
– Get a term insurance plan of proper value.
– Ideally, cover 10 to 15 times your yearly income.
– Check if you already hold any ULIP or traditional LIC.
– If yes, check if they are insurance cum investment plans.
– Those plans offer poor returns.
– If suitable, surrender and shift to mutual funds instead.
– Also take a good health insurance plan for you and your family.
– Relying only on office health cover is not safe.

? Daughter’s Education and Marriage Goals
– Start separate SIPs for these two goals now.
– Keep education and marriage planning fully independent.
– Use a mix of large-cap and balanced mutual funds.
– Your daughter is only 4 years now.
– So you have 10 to 15 years for these goals.
– That gives enough time to grow money safely.
– Avoid FDs for long-term goals. Returns won’t beat inflation.
– Track each SIP and review yearly with a CFP.

? Focus on Retirement Planning Now
– Retirement needs should not be ignored.
– You don’t have any inherited property or assets.
– That makes it more important to create your own nest egg.
– PF alone won’t be enough.
– Use diversified equity mutual funds for retirement investing.
– Keep this investment separate from your other goals.
– Begin with a decent SIP, increase it every year.
– Use step-up SIP facility to increase savings slowly.
– Don’t withdraw from this portfolio for other reasons.

? Manage Risk of Job Uncertainty
– IT job market is volatile today.
– Upskill wherever possible to stay relevant.
– But financial planning must prepare for gaps in income.
– Keep 12 months of cash if job is highly uncertain.
– Review household spending and cut unwanted expenses.
– Avoid new loans, gadgets, or luxury items.
– Don’t commit to any large EMIs.
– Be cautious and financially conservative for now.

? Don’t Fall for High-Risk Investments
– Avoid cryptocurrency, trading apps, and stock tips.
– Also avoid peer-to-peer lending or chit funds.
– Many of these look tempting but can cause heavy loss.
– You can’t afford losses at this stage.
– Stick with mutual funds and secure instruments only.

? Plan Cash Flow, Not Just Assets
– Investment planning is not only about returns.
– It’s about cash flow for your goals.
– List when you will need money and how much.
– Allocate investments based on these timelines.
– Don’t lock long-term money in short-term plans.
– Also don’t invest short-term money in long-term risky funds.

? Review Portfolio Once a Year
– Don’t check returns daily or weekly.
– Set a yearly review with a Certified Financial Planner.
– Check if asset allocation is on track.
– Check if goals are moving as planned.
– Adjust SIP amounts if income or goal size changes.

? Don’t Depend on FD for Future
– FD may feel safe but gives low returns.
– FD returns may not beat long-term inflation.
– That reduces your purchasing power.
– Keep only short-term needs in FD.
– For all other goals, use mutual funds.
– Mutual funds are flexible, goal-based, and tax efficient.

? Tax Planning Should Support Goals
– Don’t invest only for tax saving under 80C.
– Instead, use ELSS funds that also grow wealth.
– Tax saving should not reduce liquidity or flexibility.
– Take guidance to plan both tax and wealth together.

? Stay Away from Real Estate for Now
– Buying house for investment is not wise now.
– It will block your money and limit flexibility.
– It will also bring EMIs and maintenance.
– Rental income is not reliable for early retirement.
– Focus only on liquid, well-managed investments.

? Protect Your Family With Proper Nominations
– Make sure all your investments have proper nominees.
– Write a Will if you have dependents.
– It avoids problems in case of any unfortunate events.
– Ensure your spouse or family knows about investments.

? Watch Mutual Fund Taxation Carefully
– Equity funds held over 1 year attract 12.5% tax on gains above Rs. 1.25 lakh.
– If sold within 1 year, 20% tax is applicable.
– Debt fund gains are taxed as per your tax slab.
– Plan redemptions carefully to reduce tax burden.

? Focus on One Goal at a Time
– Don’t try to do everything at once.
– Prioritise emergency fund, daughter’s education, then retirement.
– Avoid scattered investing with no link to goal.
– Be focused and consistent.

? Emotional Discipline is the Key
– Don’t panic during market crashes.
– Don’t stop SIP when markets fall.
– Wealth is built by staying invested.
– Continue SIPs even during income pressure.
– That builds your habit and long-term success.

? Setup SIPs for Simplicity
– Manual investing can get skipped or delayed.
– Setup SIP auto-debits through a trusted advisor.
– That ensures discipline and peace of mind.

? Track Your Progress, Not Just Returns
– Many investors chase high returns and lose track.
– Your focus should be on goal completion.
– Use goal-based dashboards for tracking.
– Review with a CFP yearly for alignment.

? Finally
– You are already doing better than you think.
– You have Rs. 60 lakh saved without property support.
– You are supporting your daughter and still saving.
– Now you need direction and structure.
– Start with proper planning of each rupee.
– Shift from random savings to goal-specific SIPs.
– Avoid index funds and direct mutual funds.
– Use regular mutual funds through a Certified Financial Planner.
– Strengthen your emergency fund and protect your income.
– Reassess risks, manage portfolio, and continue upskilling.
– A calm and steady approach will secure your family’s future.
– You still have 15-20 active years to build strong wealth.
– Start acting today with more clarity and confidence.

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

Ans: You're 32 and earning Rs. 1.10 lakh monthly. You’ve paid off a good part of your personal loan. You have term insurance in place. You also invest in an index fund monthly. You plan for retirement and early financial freedom from age 45. This is a good time to strengthen your financial life.

? Review and Close Debt First
– You still owe Rs. 1.5 lakh on your personal loan.
– Continue paying Rs. 12,000 monthly to clear it soon.
– Try prepaying extra if surplus is available.
– Ending loans gives peace and cash flow.
– Avoid taking any new personal loans.
– Credit card loans and EMIs also need to be avoided.

? Emergency Fund is Non-Negotiable
– First build an emergency fund of 6 months’ expenses.
– That includes rent, bills, EMIs, and lifestyle spends.
– Keep this in liquid mutual funds, not savings account.
– It gives safety during job loss or family emergency.
– Don’t mix emergency fund with other goals.
– Withdraw only during real emergencies.

? Reconsider Your Index Fund SIP
– Index funds copy stock market performance.
– In India, they don’t offer protection during falls.
– They lack human guidance and smart decision-making.
– In falling markets, index fund will fall equally.
– You also miss chances to beat the market.
– Actively managed funds have a real fund manager.
– These funds aim to deliver better than the index.
– They change the portfolio based on research and timing.
– That helps manage risk and improve returns.
– Shift your Rs. 2,500 SIP to active mutual funds.
– Do it via regular plan through a Certified Financial Planner.

? Avoid Direct Plans, Use Regular Plans
– Direct funds may look cheaper but are risky.
– You don’t get fund advice or personalised guidance.
– A wrong fund can lead to poor results.
– Regular plans are managed with advisor support.
– You get reviews, risk assessment, and behaviour support.
– Especially during volatile times, guidance matters more than returns.
– It saves you from emotional mistakes.

? Revisit Insurance Decisions
– You pay Rs. 4,500 monthly for term insurance.
– That seems high unless coverage is very large.
– Reassess if policy premium suits your income.
– Term insurance is must. But amount should be right.
– It should cover 10-15 times your annual income.
– Don't mix insurance with investment.
– Don’t buy endowment, ULIP or money-back policies.
– If you already hold any of them, check surrender value.
– Reinvest that amount into mutual funds.

? Plan Monthly Budget With Clear Allocations
– Your income is Rs. 1.10 lakh per month.
– Allocate expenses first – rent, food, EMIs, lifestyle.
– Then fix SIPs for investment.
– Avoid spending what is left after saving.
– Instead, spend what is left after investing.
– Ideal allocation can be 30% investing, 60% living, 10% for goals.
– Over time, increase SIP amount as income grows.

? Fix Clear Goals Before Investing
– Goals make investments meaningful and focused.
– You want early retirement at 45.
– Also planning to start a family soon.
– List short-term, medium-term, and long-term goals.
– Match each goal to a suitable mutual fund.
– Don’t mix retirement investment with home or child expenses.
– Separate SIPs for each goal is a wise step.

? Focus on Retirement Planning Aggressively
– You want good returns from age 45.
– So you have 13 years to invest now.
– That’s a powerful time window.
– Start a dedicated SIP for retirement.
– Use diversified equity mutual funds for this.
– Choose large-cap, mid-cap, and flexi-cap types.
– Equity is ideal for 10+ year horizons.
– Stay invested fully without withdrawing midway.

? Use Step-Up SIP Feature
– Start with a basic SIP now.
– But increase amount every year as salary grows.
– This is called step-up SIP.
– It builds long-term wealth steadily.
– You won’t feel the pinch, but results will be big.

? Child Planning Means Goal Planning
– If you’re planning for kids, goal planning becomes more important.
– Child’s school and college will need big amounts.
– Start SIPs now to avoid burden later.
– Use hybrid or balanced funds for mid-term child goals.
– For education or marriage goals beyond 10 years, use equity funds.
– Keep each goal separate to track properly.

? Avoid Real Estate for Investment
– Real estate demands big capital and loans.
– It is illiquid and returns are slow.
– Property selling is complex and involves risk.
– It is not fit for young investors like you.
– Use mutual funds for wealth creation instead.

? Don’t Fall for Fancy Investments
– Avoid stock tips, crypto, F&O, and unknown apps.
– Many look exciting but are not safe.
– Focus on proven, long-term investment methods only.
– Discipline is more important than product.

? Diversify But Don’t Overdo It
– Have 3 to 4 well-chosen mutual funds only.
– Too many funds cause overlap and confusion.
– Choose funds from different categories.
– Large-cap, flexi-cap, mid-cap, and hybrid can be considered.
– Decide mix based on your risk level.

? Consider Tax Saving Wisely
– If you need to save under Section 80C, use ELSS funds.
– ELSS has a 3-year lock-in.
– But it also offers equity returns and tax benefit.
– Invest in ELSS only after covering retirement and emergency fund.
– Don’t invest just for tax saving.

? Use Liquid Funds for Short-Term Needs
– If any goal is within 2 years, use liquid funds.
– Don’t invest short-term money in equity.
– Use these funds for travel, gadgets or child birth costs.
– These funds give better returns than savings account.

? Know Taxation of Mutual Funds
– Equity mutual funds held over 1 year are long-term.
– Gains above Rs. 1.25 lakh get 12.5% tax.
– Gains under 1 year are short-term and taxed at 20%.
– Debt funds are taxed as per your income slab.
– Plan redemptions accordingly to reduce tax.

? Automate Investments, Reduce Manual Actions
– Setup SIPs as auto-debit from your account.
– This builds habit and avoids delays.
– Manual investing is harder to follow long-term.

? Don’t Time the Market
– Don’t wait for the “right time” to invest.
– Invest every month regularly.
– Market ups and downs will average out.
– Waiting wastes precious compounding time.

? Review Once a Year, Not Monthly
– Don't keep checking fund performance every week.
– Review once or twice a year with your CFP.
– Make changes only when goals or income change.
– Don’t chase best-performing funds always.

? Behaviour Is More Important Than Return
– Many investors get scared and stop investing.
– Staying calm during market falls is key.
– Your behaviour decides your success more than fund return.
– That’s why guidance from a CFP is vital.

? Track Goals, Not Just Portfolio
– Don’t just look at profits.
– Check if goals are on track.
– Track each SIP’s progress towards its target.
– Adjust SIPs when salary or expenses change.

? Finally
– You are already doing many things right.
– You earn well and are financially aware.
– But small improvements will make big difference.
– Avoid index funds. Shift to active mutual funds.
– Stop direct plans. Use regular funds with a CFP.
– Focus more on retirement and child-related goals.
– Plan debt-free and disciplined life.
– With 13 years of focus, your goal of early returns at 45 is possible.
– Take steps today and build future steadily.

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

Ans: Let’s explore the best investment options for a 24-year-old with Rs. 7,000 in savings. The aim here is to give you a 360-degree view. This approach considers your age, time horizon, and capital. You are starting early, which is excellent. Small amounts invested right can grow well over time.

? Age Advantage: Time is on Your Side
– You are just 24. That’s a big strength.
– You have over 30 years till retirement.
– That gives enough time to ride out market ups and downs.
– Starting now gives power of compounding more time to work.
– Even small monthly investments will grow big.
– No need to rush. But must stay consistent.
– Time makes up for small capital at start.

? Understand Your Savings Purpose
– Is this Rs. 7,000 meant for long term?
– Or do you need it in 1 or 2 years?
– Your investment plan depends on this timeline.
– For long-term goals, equity mutual funds are ideal.
– For short-term goals, use liquid or ultra-short term funds.
– Never invest in equity if goal is near.

? Emergency Fund Comes First
– Do you already have an emergency fund?
– You must set aside 3-6 months of expenses.
– Keep this in a liquid mutual fund or savings account.
– This protects you from borrowing in emergencies.
– Don’t invest this in risky or long lock-in plans.
– Emergency fund gives mental peace too.

? Begin with Monthly SIPs
– Rs. 7,000 is a good beginning.
– But add monthly SIPs to it.
– Even Rs. 500 to Rs. 1,000 per month is fine.
– Make it a habit before increasing amount.
– Mutual funds through SIPs are flexible.
– You can stop, pause, or change amount anytime.

? Prefer Actively Managed Mutual Funds
– Many suggest index funds. But they suit foreign markets.
– Indian markets are not fully efficient yet.
– That gives fund managers a chance to beat the index.
– Actively managed funds offer this chance.
– Index funds just copy the market.
– They never try to beat it.
– They also fall with the market.
– You get no expert protection during market crash.
– In India, active funds have often done better.

? Don’t Choose Direct Mutual Funds
– You may hear about direct mutual fund plans.
– They may seem cheaper due to low expense ratio.
– But you get no expert guidance.
– You may end up choosing wrong schemes.
– Regular plans through a Certified Financial Planner are better.
– You get periodic reviews and hand-holding.
– It saves you from panic in market falls.
– That support is worth the small fee.

? Build Discipline and Patience
– Investing is a journey, not a sprint.
– Avoid watching your portfolio daily.
– Don’t react to market news or tips.
– Invest regularly and stay calm during ups and downs.
– Review only twice a year with your CFP.

? Keep Insurance and Investments Separate
– Never mix insurance with investments.
– ULIPs or investment-linked insurance give poor returns.
– They lock your money for long.
– If you hold such policies already, review them.
– Check surrender value and charges.
– Exit if not giving fair growth.
– Invest that amount into proper mutual funds.

? Invest in Goal-Based Manner
– Don’t invest just to invest.
– Set goals first.
– Examples are car in 3 years, house in 10 years.
– Match your fund choice to the goal time frame.
– Equity for 5+ years. Debt for under 3 years.
– Hybrid for mid-term goals.
– Clear goals make you stay invested better.

? Tax-Saving Plans – Choose Wisely
– If you want tax saving, equity-linked savings schemes are one option.
– They give Section 80C benefit.
– But have a 3-year lock-in.
– Choose only if you want both tax saving and equity exposure.
– Don’t choose only to save tax.
– First see if 80C limit is unused.
– If yes, then choose suitable scheme via your CFP.

? Mutual Fund Taxation Rules
– Long term capital gains (LTCG) from equity funds are taxed above Rs. 1.25 lakh.
– The rate is 12.5% after the limit.
– If sold before one year, it is short term.
– That is taxed at 20%.
– For debt funds, tax is based on your tax slab.
– No LTCG benefit in debt funds now.
– Keep holding period and taxes in mind when investing.

? Avoid Frequent Switching
– Many investors switch funds often.
– This kills long-term returns.
– Every time you switch, compounding resets.
– Also, switching causes taxation.
– Stay with good performing schemes.
– Give them at least 3 to 5 years.

? Review Annually, Not Frequently
– Don’t check your portfolio daily or weekly.
– Review once a year with your CFP.
– See if goals are on track.
– Make adjustments only if needed.
– Patience is the biggest skill in investing.
– Constant changes harm returns.

? Avoid Fancy Investments
– Don’t fall for crypto, forex, or smallcase trends.
– These look attractive but are risky.
– Many have lost big money in these.
– Focus on time-tested methods instead.
– Boring investing works better in long run.

? Keep Learning About Money
– Read basic personal finance articles.
– Listen to CFP-guided videos.
– Ask questions when you don’t understand.
– But don’t follow every opinion online.
– Learn slowly and build strong habits.

? Build a Budget Around SIPs
– Don’t wait for surplus money to invest.
– Instead, invest first and spend later.
– Include SIPs in your monthly expenses.
– That builds discipline and financial stability.

? Increase SIPs With Income Growth
– As income increases, increase SIPs.
– Step-up SIPs are a great tool.
– They help you invest more without pressure.
– Start with Rs. 500 and slowly go up.
– That gives long-term wealth creation with comfort.

? Don’t Time the Market
– Nobody can predict market tops and bottoms.
– Trying to buy low and sell high fails often.
– Instead, invest consistently every month.
– This averages cost and reduces risk.

? Don’t Depend on Just One Fund Type
– Diversify across 3 to 4 good funds.
– Include large cap, mid cap, and flexi cap funds.
– This gives better coverage and growth.
– Discuss with your CFP before fund selection.

? Make Retirement a Priority Early
– At 24, retirement feels far.
– But it’s the most expensive goal.
– Start small SIPs towards retirement fund now.
– It will grow huge due to compounding.
– Even Rs. 1,000 now will matter later.

? Stay Away from Real Estate
– Many think property is a good investment.
– But it needs big money and loans.
– Returns are uncertain and growth is slow.
– Also, it lacks liquidity.
– Mutual funds are better for young investors.

? Your Investment Roadmap Ahead
– Set clear short, medium, and long-term goals.
– Build emergency fund of 6 months expenses.
– Begin with monthly SIPs in 2-3 equity funds.
– Avoid direct and index funds.
– Review with a CFP once a year.
– Slowly increase SIPs with income.
– Avoid ULIPs, annuities, and real estate.
– Learn and stay invested for long term.

? Finally
– You’ve done well to think about investing at 24.
– Rs. 7,000 is a powerful start.
– Don’t wait for more money to start.
– With time and patience, this can grow big.
– Follow the right process with the right guide.
– Avoid shortcuts and stay consistent.
– The journey will reward you in time.

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

Ans: With a JEE Main rank of 622621, it's unlikely you'll get direct admission to Electronics and Communication Engineering (ECE) at Chandigarh University through the JEE Main score alone. The cutoff for ECE at Chandigarh University has been around 112216 in previous years.

Ans: Let him go for cse with cybersecurity specialisation in SRM main campus, placement of SRM main campus is very good.