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Should I Drop Out of DAIICT for JEE Advanced? (Full Fees Refund?)

Radheshyam

Radheshyam Zanwar  |5572 Answers  |Ask -

MHT-CET, IIT-JEE, NEET-UG Expert - Answered on Aug 12, 2024

Radheshyam Zanwar is the founder of Zanwar Classes which prepares aspirants for competitive exams such as MHT-CET, IIT-JEE and NEET-UG.
Based in Aurangabad, Maharashtra, it provides coaching for Class 10 and Class 12 students as well.
Since the last 25 years, Radheshyam has been teaching mathematics to Class 11 and Class 12 students and coaching them for engineering and medical entrance examinations.
Radheshyam completed his civil engineering from the Government Engineering College in Aurangabad.... more
Asked by Anonymous - Aug 12, 2024Hindi
Career

Should I take a partial drop from DAIICT and prepare for JEE Advanced? Would thry ask for full fees when dropping out?

Ans: Hi. Taking a partial drop from DAIICT to prepare for JEE Advanced is a risky but possible option if you're confident in significantly improving your rank. Make sure to check the specific refund and fee policies before deciding. Please visit their website to know more rules and regulations else visit their office and talk to the administration would be the preferable choice. If still you have any queries left in your mind, please feel to contact us again at any time. You are most welcome.

If you found this suggestion helpful, please consider following me.
Radheshyam Zanwar, Aurangabad (MS)
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Ramalingam

Ramalingam Kalirajan  |9784 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on Jul 19, 2025

Asked by Anonymous - Jul 18, 2025Hindi
Money
I have income 1.9 L my age is 34 having 2 twin kids (2yr) - Expense of 50K - Investment of Sip 130k, Epf 27 k, Nps 12 K - No liability - Asset: MF 41 L, EPF 16 L, EPF 6.3 L, NPS 4.4 L - Also, I have my own flat - also have term insurance, health insurance and emergency funds How to plan these goals ? - 1.2 Cr for kids education in 18 years - Planning retirement in next 15 year - 1 Cr next 25 year for kids marriage - Also planning to purchase duplex 50 L in home town in next 3-4 years
Ans: At 34, your financial base is very strong. You have a high savings rate, no liabilities, and your goals are well-defined. You are already ahead of many.

Let’s now assess every part of your personal finance, and give a 360-degree solution to align your investments with your future goals.

? Family and Responsibilities

– You are 34 years old with twin kids aged 2 years.
– You have a spouse and you are the primary earner.
– All financial goals must consider long-term security for the family.

Early planning helps create wealth without pressure later. You have started early and smart.

? Current Cash Flow Summary

– Income: Rs. 1.9L/month (Rs. 22.8L/year)
– Expenses: Rs. 50K/month (Rs. 6L/year)
– Monthly surplus after expenses: Rs. 1.4L

– SIP: Rs. 1.3L/month (Rs. 15.6L/year)
– EPF: Rs. 27K/month (Rs. 3.24L/year including employer)
– NPS: Rs. 12K/month (Rs. 1.44L/year)

Almost 75% of your income goes into investment. This is excellent. Your saving habit is rare and praiseworthy.

? Review of Existing Assets

– Mutual Funds: Rs. 41L
– EPF: Rs. 16L (your share)
– Employer PF share (assumed): Rs. 6.3L
– NPS: Rs. 4.4L
– Own flat: Already owned, no liability
– Emergency fund: Available

You have created a solid financial foundation. The investments are well diversified. This helps meet both short-term and long-term goals effectively.

? Insurance Protection

– You have term insurance in place.
– Health insurance is also active.

Protection is the first step of financial planning. You have done this right. Just make sure the term cover is at least 15–20 times your annual income.

If it is less, please enhance it immediately. Term insurance cost rises with age.

? Emergency Fund Position

– You already hold an emergency fund.
– Ideally, this should be equal to 6 months of expenses.

For you, Rs. 3–4L is sufficient as emergency backup. You can keep it in ultra-short debt funds or sweep-in FDs. Never use it for regular investments.

? Goal 1: Rs. 1.2 Cr for Kids' Education in 18 Years

– You have 16 years left for this goal (kids now are 2 years old).
– Your SIPs can easily create this corpus if aligned properly.

Allocate a part of your existing mutual fund corpus to this goal.
– Start goal tagging to separate the corpus from general investing.

Use actively managed diversified equity mutual funds for this long-term goal.

Avoid index funds. They do not offer downside protection. Also, they deliver average returns.

Active funds outperform during different market cycles. The fund manager’s skill adds real value over long periods.

Invest through regular plans with a Mutual Fund Distributor who is a Certified Financial Planner.
– You will receive personalised guidance.
– Mistakes will be avoided.
– Fund choice will align with your risk level.

Direct funds may look low-cost, but they offer no guidance.
– Most investors underperform due to wrong choices.
– A good advisor ensures better goal achievement.

For now, dedicate a SIP of around Rs. 25K–30K/month for kids' education.
– As your income grows, increase SIP by 5–10% yearly.

? Goal 2: Rs. 1 Cr for Kids’ Marriage in 25 Years

– You have a 23-year window for this goal.
– This is a very long-term goal and needs high-growth assets.

Do not use traditional savings plans or gold for this.

Allocate around Rs. 10K–12K/month into long-term mutual funds for this.
– Mix of flexi-cap, mid-cap, and small-cap funds is ideal here.

Please remember to keep the corpus separate from other goals.
– Create different folios or label the investment clearly.

Review this portfolio every 2 years. As the goal approaches, reduce risk gradually.

Avoid index funds again for this goal. Index funds track markets, not your dreams.

Your kids' marriage should not depend on average market returns. Active funds with proper strategy serve this goal better.

? Goal 3: Retirement in Next 15 Years (Age 49)

– Retirement in 15 years is early. So the plan must be efficient.
– You will need a large corpus for a comfortable retirement.

Assuming inflation and expenses, aim for at least Rs. 6–7 Cr corpus.

You are already investing in EPF and NPS. That’s a good start.
– But EPF alone will not meet your full post-retirement income need.
– NPS gives tax efficiency and stable post-retirement returns.

Your current SIPs also add value here. But you must separate some SIPs purely for retirement.

Create a dedicated retirement corpus with diversified mutual funds.
– Use large-cap, flexi-cap and balanced advantage funds.
– Don’t over-rely on small-cap funds here.

Keep increasing SIPs yearly as income grows.
– After your kids’ education goal is partly funded, shift more focus to retirement.

When you reach 49, slowly reduce equity risk.
– Start using SWP or laddered withdrawal from debt and hybrid funds.
– Do not depend on annuity plans. They give poor returns and low flexibility.

If you plan to work after 49 in part-time or consultancy, factor that income too. But don’t depend on it fully.

? Goal 4: Buy Duplex in Home Town (Rs. 50L in 3–4 Years)

– This is your short-term, high-value goal.
– Avoid touching long-term mutual funds or retirement corpus for this.

You can start parking funds monthly in low-volatility instruments.
– Ultra short duration funds
– Arbitrage funds
– Short-term debt funds

Avoid equity funds for this short horizon. Markets may not support your timeline.

Start a separate SIP or STP towards this goal.
– You need approx. Rs. 1L/month for 3–4 years to accumulate Rs. 50L.

If needed, you can use part of your existing MF corpus (Rs. 41L) and reallocate. But do it only if that part is not tagged to retirement or child goals.

We don’t recommend buying the duplex for investment. But if it is for family use or future self-use, that’s fine.

Please remember – real estate has poor liquidity and low rental yield. So don’t expect high financial return from it.

? Tax Efficiency Review

– EPF is tax-free on maturity.
– NPS gives tax benefit under Section 80CCD(1B) for up to Rs. 50,000.
– Mutual fund redemptions are taxed based on capital gains.

New mutual fund CG tax rules:
– LTCG above Rs. 1.25L/year is taxed at 12.5%
– STCG is taxed at 20%
– For debt mutual funds, both gains are taxed as per your slab.

So always plan redemptions smartly. Spread it across financial years if possible.

Avoid unnecessary churning of mutual funds. It increases tax burden and reduces compounding.

? Fund Allocation and Prioritisation Suggestion

– Out of Rs. 1.3L SIP, allocate as below:

Rs. 25–30K/month → Child education

Rs. 10–12K/month → Child marriage

Rs. 40–50K/month → Retirement

Rs. 20–25K/month → Duplex goal (via debt/arbitrage route)

Keep the rest flexible for top-ups or opportunities.

Each investment must be tracked every 6 months. Align your fund choice to each goal’s horizon and risk.

? Checklist of Next Action Steps

– Enhance term insurance if cover is below Rs. 1 Cr.
– Review SIP fund categories. Avoid index funds. Prefer active regular plans.
– Allocate each investment to a goal. Start tracking growth.
– Avoid mixing long-term and short-term goals.
– Don’t disturb retirement corpus for house purchase.
– Create a review calendar with a certified financial planner.

? Finally

Your discipline, savings, and clear goal-setting are outstanding. You are on the right track.

Now, all you need is smart allocation and periodic review. Tag your SIPs to each goal.

Avoid passive and low-engagement funds. Use active funds via a certified MFD with CFP background.

This gives you better clarity, control, and peace of mind.

With these habits, your kids' future and your early retirement will be financially safe and comfortable.

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

...Read more

Ramalingam

Ramalingam Kalirajan  |9784 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on Jul 19, 2025

Asked by Anonymous - Jul 18, 2025Hindi
Money
Dear Mr.Ramlingam, I m 43 and married with two kids 9 and 3. Both of us are in private jobs. We have health insurance covering family already as 5 LPA and with NCB it cover till 10 LPA now. We wish to keep aside another 20 Lac ,citing medical costs these days and we plan to have 30 lacs cover . From incomes i am in position to set aside 20 lac in MFs for unforeseen medical treatment requirement of future, while same time i have two more options ,option 2: to buy another health insurance of 10 LPA and with NCB(hopefully) the cover goes upto 20 LPA in future .Option 3 is to increase the cover on our existing policy to 15 LPA. Kindly advise which among the three option looks most prudent call ?
Ans: At 43, with two young children and a stable income, you are making the right move by planning ahead for rising healthcare costs. A future-ready medical backup of Rs. 30 lakhs is wise and needed.

Let’s now assess each of your options in detail. We will see which is more practical, economical, and reliable in the long run.

? Your Current Situation Review

– You already have a health policy of Rs. 5 lakhs.
– With No Claim Bonus (NCB), it grows to Rs. 10 lakhs.
– This is good, but may not be enough after 10–15 years.
– Healthcare costs are increasing 12–14% per year.
– You want to increase cover to Rs. 30 lakhs now.
– You can either invest Rs. 20 lakhs in mutual funds.
– Or increase or buy new health insurance.

We will now compare these three options.

? Option 1: Invest Rs. 20 lakhs in Mutual Funds

– You plan to invest Rs. 20 lakhs in mutual funds.
– This will be earmarked for future health emergencies.
– This fund will grow with time.
– You will have control and liquidity.
– But this is not a replacement for insurance.

– If a big hospitalisation comes early, this fund may not be ready.
– Medical bills can go up to Rs. 15–20 lakhs easily.
– If this happens early, you may need to break MFs with loss.
– There will be tax on redemption.
– Equity fund gains above Rs. 1.25 lakh taxed at 12.5%.
– Short term gains taxed at 20%.
– Debt funds taxed as per income slab.
– So this is useful only as a backup.
– Not the main health plan.

Use this fund as Plan B. Not Plan A.

? Option 2: Buy Another Policy of Rs. 10 Lakhs with NCB

– You are considering buying a separate Rs. 10 lakh policy.
– With NCB, it will grow to Rs. 20 lakhs over time.
– This gives you a combined cover of Rs. 30 lakhs in future.
– Premium will be low now, as you are young.
– It will be independent of your main policy.

– If one policy has room limit issues, you can claim the other.
– Helps if you are admitted in two different years.
– This offers better flexibility.
– No single company dependency.
– Also allows you to compare benefits later.
– But you need to manage two policies yearly.
– Extra paperwork during claims.

Still, this is a good and practical choice.

? Option 3: Increase Existing Cover to Rs. 15 Lakhs

– You can also increase your main policy to Rs. 15 lakhs.
– With NCB, it may go to Rs. 25–30 lakhs over time.
– This keeps things simple.
– One policy, one premium, one renewal, one claim process.

– But this also has risks.
– If claim is rejected for some reason, full plan fails.
– If insurer’s network weakens, you lose options.
– You are completely dependent on one provider.
– You also lose product comparison benefits.
– If premium becomes high in future, no exit option.

This may look easy but lacks flexibility and protection diversity.

? Recommended 360 Degree Strategy

The best choice is not one option. Combine smart elements from all.

– Increase current policy from Rs. 5L to Rs. 10L if premium is reasonable.
– Buy a separate Rs. 10L policy now from a reputed different insurer.
– Let both grow with NCB to Rs. 20L each.
– This gives you a Rs. 40L total cover in 5–7 years.
– No need to increase to Rs. 15L in one policy.
– It’s better to split for claim flexibility.
– Alongside, keep Rs. 10L in mutual fund for emergencies.
– Use only when both policies are insufficient.
– This hybrid approach keeps cost low and protection high.
– You gain liquidity, flexibility, and future options.

? Role of Mutual Fund as Support

– Mutual funds are best for long-term growth.
– Not ideal for immediate health expenses.
– They work well when used as a buffer.
– Keep Rs. 10–12L in hybrid or debt mutual fund.
– Avoid keeping full Rs. 20L.
– That money may be idle or taxed heavily when used.
– Instead, put remaining Rs. 8–10L in equity mutual fund.
– It can be for general goals like child education.
– Don’t make your entire health planning depend on mutual funds.
– Their value can drop just when you need money.

? Use of Regular Mutual Funds via MFD with CFP

– Don’t invest in direct mutual funds for this.
– You will miss expert review and timely advice.
– Direct plans don’t help during emotional or medical crisis.
– Regular plans through MFD with CFP give support.
– You get handholding, switching advice, and better strategy.
– For goal-based investing, personal help is more valuable than saving 0.5% fees.
– With right guidance, you’ll avoid panic selling or wrong redemption.

? Disadvantages of Index Funds in This Case

– Index funds follow market. They don’t manage risks.
– If markets fall before hospitalisation, fund value falls.
– You cannot wait in such emergencies.
– Active funds managed by experts adjust based on risk.
– Index funds can never protect downside.
– Don’t use them for emergency needs.
– They are not suitable for critical goals like health protection.

Always choose actively managed funds via Certified Financial Planner.

? Final Insights

– Health cover of Rs. 30L is necessary today.
– But don’t depend on just one tool.
– Use insurance for large cover and liquidity.
– Use mutual funds for backup and inflation hedge.
– Split cover between two insurers for safety.
– Avoid direct plans and index funds.
– Get help from Certified Financial Planner.
– Monitor medical inflation and revisit policy limits every 5 years.
– Keep nominations updated and involve spouse in policy info.
– Continue NCB to increase cover without extra cost.

By using both insurance and mutual funds wisely, you stay fully prepared.

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

...Read more

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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