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Sushil Sukhwani  |422 Answers  |Ask -

Study Abroad Expert - Answered on Jan 02, 2024

Sushil Sukhwani is the founding director of the overseas education consultant firm, Edwise International. He has 31 years of experience in counselling students who have opted to study abroad in various countries, including the UK, USA, Canada and Australia. He is part of the board of directors at the American International Recruitment Council and an honorary committee member of the Australian Alumni Association. Sukhwani is an MBA graduate from Bond University, Australia. ... more
Asked by Anonymous - Nov 24, 2023Hindi
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My son is studying in Germany Masters in international economics and business studies. Please recommend jobs suitable and countries viable

Ans: Hello,

First and foremost, thank you for getting in touch with us. I am glad to hear that you son is currently pursuing his Master’s in International Economics and Business Studies in Germany. You would be happy to know that this degree will open up a number of employment opportunities worldwide for your son to pursue. He could take up jobs entailing evaluating market trends, engaging in economic research, offering advice on global business plans, or dealing with multinational corporations wherein he could work in job positions viz., that of a financial analyst, international business analyst, management consultant, or trade economist. Remember that exceptional professional prospects could be provided by countries with robust economies as well as an emphasis on international trade and business, and for the same, I would recommend that your son considers countries like the UK, Switzerland, the USA, and Singapore, regarded for their strong business settings. Based on his professional interests and goals, these could be feasible choices. Moreover, I would like to tell you that Germany is home to a number of multinational companies which in turn, could be an excellent place for your son to begin his career in international business or economics.

For more information, you can visit our website.
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Study Abroad Expert - Answered on Oct 09, 2023

Asked by Anonymous - Oct 05, 2023Hindi
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for master's in aerospace engineering whether USA or Germany would be better. what are the chances for obtaining job and stay arrangements??
Ans: Hello,

To begin with, thank you for contacting us. I am happy to hear about your plans on pursuing Master’s in Aerospace Engineering in either the USA or Germany. To answer your question first, I would like to let you know that your personal choices, situation, as well as professional objectives play a key role in deciding if you should select either Germany or the USA to pursue your master's in aerospace engineering.

Comparing both the countries, I would like to let you know that if you choose to study in USA, there are relatively more renowned universities as well as research possibilities in aerospace engineering for you to opt from. A number of aerospace companies are situated in the USA. SpaceX, Boeing, and Lockheed Martin are some prominent ones that offer possible employment opportunities. Nevertheless, owing to visa limitations and the requirement to secure sponsorship from employers, the possibilities of seeking employment and residing in the country can be highly cut-throat.

Next, speaking about Germany, the country offers robust programs in the field of engineering. Also, the aerospace sector in Germany is highly advanced. Companies viz., DLR and Airbus, are located in Germany. Moreover, universities in Germany charge very low tuition fees. With respect to the possibilities of obtaining a job and stay in the country post graduation, I would like to let you know that it is relatively easier to attain both, through post-study employment possibilities offered by Germany via the Job Seeker Visa.

Outstanding academic and job prospects are offered by both, Germany as well as the USA in aerospace engineering. The decision you finally make should resonate with your educational and professional objectives, your readiness to understand the procedures pertaining to jobs and immigration in either of the two countries, as well as your monetary concerns.

For more information, you can visit our website.

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Financial Planner - Answered on Jun 25, 2024

Asked by Anonymous - Jun 13, 2024Hindi
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Ours is a family of 3 people -- My wife, I and my daughter who is 15. I am 39, my wife is 37 and our monthly expenses are Rs 90K. I own my house and expect to have no fixed income after 65 years, and expect to live till 75. Considering the ever increasing price rise what should be my corpus at 65 for me to continue living the life style I am living today?
Ans: Calculating your retirement corpus:

Here's how to estimate the corpus you'll need to maintain your current lifestyle after retirement:

1. Retirement period:

You plan to retire at 65 and expect to live till 75. So, your retirement period is 75 - 65 = 10 years.

2. Inflation adjustment:

You've rightly considered inflation. To estimate future expenses, we need to factor in inflation. A safe assumption for India is 5-7% inflation. Let's take an average of 6%.

3. Current monthly expenses:

You spend Rs 90,000 per month currently.

4. Future monthly expenses:

To find the monthly expense at retirement (at 65), we need to consider inflation for 26 years (39 years till retirement + 10 years retirement).

You can use an inflation calculator online or a simple formula:

Future monthly expense = Current monthly expense * (1 + Inflation rate)^number of years

In your case, Future monthly expense = Rs 90,000 * (1 + 0.06)^26 ≈ Rs 3,28,550 (approximately Rs 3.29 lakh)

5. Total corpus calculation:

Now you can calculate the total corpus needed. Here's a common approach:

Total corpus = Monthly expense * Number of years in retirement * 12 (months)

However, this method doesn't consider the fact that you'll be withdrawing money every month, reducing the corpus. A more accurate method is using the Time Value of Money (TVM) concept. There are online TVM calculators or Excel functions you can use.

Here's an alternative approach that provides a reasonable estimate:

Multiply the future monthly expense (Rs 3.29 lakh) by a factor considering inflation over the period. This factor can vary depending on your risk tolerance and investment strategy. A factor of 200 is often used as a conservative estimate.
Total corpus = Rs 3.29 lakh/month * 200 (factor) = Rs 6.58 crore (approximately Rs 658 million)

Additional factors to consider:

• Daughter's future expenses: Your daughter will be an adult by the time you retire. While she won't be financially dependent, consider any potential future support you might want to provide for her education or marriage.
• Healthcare costs: Healthcare expenses tend to increase with age. Factor in potential medical needs during retirement.
• Debt: If you have any outstanding debt by the time you retire, you'll need to account for its repayment in your corpus calculation.
• Investment returns: The corpus amount assumes a certain rate of return on your investments. Research different investment options and their potential returns to refine your calculations.

Recommendation:

Consult a financial advisor for a personalised retirement plan considering your specific financial situation, risk tolerance, and investment goals. They can help you create a more comprehensive plan and suggest suitable investment strategies to achieve your corpus target.

Remember, this is an estimate. Regularly review your plan and adjust it based on changing circumstances.

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Mayank

Mayank Chandel  |1003 Answers  |Ask -

IIT-JEE, NEET-UG, SAT, CLAT, CA, CS Exam Expert - Answered on Jun 24, 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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