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Geeta Ratra | Answer |Ask -Follow

Visas, Study Abroad Expert - Answered on Feb 03, 2024

Geeta Ratra has been an immigration expert for more than two decades and has strong knowledge of international immigration policies and procedures. She is vice president, operations, at Abhinav Immigration Services. Besides visa and immigration services, they also provide study abroad advice that includes application assistance, counselling and university shortlisting.... more

Question by Hemlata on Jan 12, 2024Hindi

Career

My son wants to go to Italy to do masters in engineering management , he has done his graduation in automobile engineering, what are the job prospects after completion of master’s degree from Italy

Ans: With a background in automobile engineering, your son's pursuit of a master's in engineering management in Italy can open doors to diverse career paths. Italy, known for its automotive industry, offers opportunities in management roles within renowned companies. Job prospects include positions in project management, operations, and strategic planning. Networking with industry professionals and leveraging internships during the master's program can enhance his employability in the dynamic field of engineering management.

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Question by Aryan - Oct 30, 2023Hindi

Career

My Son Done Mechanical Engineering From D.J.Sanghavi - Mumbai & Now Doing MBA From K.J.Somaiya - Mumbai , Now After Doing MBA What is Scope For Future

Ans: KJ Somaiya is a premier institute and you should be proud of your son

The scope for someone with both engineering and MBA qualifications is vast and depends on personal interests, skills, and the opportunities available in the market.

Some of the future course of actions could be: Management Roles in Engineering Firms, Management consulting firms , Product Management in tech or engineering-driven companies, Supply Chain and Operations etc

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Question by Husna - Jan 17, 2024Hindi

Career

My son has graduated chemical engineering in 2023 and working in yokogawa from 4month but he is not interested in that job as its not highly technical,he is a bright student has done two internships during graduation itself and published review paper in European journal also, he is more passionate to do his master's in US in Purdue in chemical with data science but we are worried to take huge loans as we r middle class what if he didn't get jobs after masters in USA and in India there is only low paying jobs, kindly guide us

Ans: Hello Husna. To begin with, thank you for contacting us.
Coming to the question, it is understandable that you have certain concerns regarding your son’s education in the USA. Given the potential burden regarding finances, here are some factors that you can consider.
1. Encourage your son to explore various funding options in the USA. This includes researching about various scholarships, finance assistance, tuition-fee waivers and stipend for research or teaching assistance.
2. Universities offer career services for its students. This could be an advantage for your son for better job prospects and connecting with potential employers.
3. Consider Return on Investment (ROI) by pursuing a master’s degree in Chemical Engineering from Purdue University. Consider job prospects, annual gross salary, demand in the market, etc.
4. A master’s degree is considered one option, your son can consider alternative academic paths like certifications or diploma.

For further assistance you can get in touch with us.

Chocko Valliappa |452 Answers |Ask -Follow

Tech Entrepreneur, Educationist - Answered on Mar 22, 2024

Question by Dasharath - Mar 15, 2024Hindi

Career

My son is doing M tech dual degree in Electrical with from IIT MUMBAI.What is job opportunities with him after completing his dual degree in Electrical in India .

Ans: IIT Mumbai is very well known for its academic reputation and am sure yur son is putting in his best. I would encourage him to connect with IIT Mumbai placement director to get a run down on possible campus placement openings.

Chocko Valliappa |452 Answers |Ask -Follow

Tech Entrepreneur, Educationist - Answered on Jul 13, 2024

Question by Vanessa - Apr 11, 2024Hindi

Career

Hallo, my son is doing his last year in Mechanical engineering. He is interested in the motor (cars) industry, production line. Pls advise what he should do after his engineering degree.

Ans: Auto sector is getting revolutionised with the emergence of Electric Vehicle technology as also focus on making cars safer and less polluting, Do ask your son to make an impressive biodata expressing strong his interest in the sector backed with strong academic excellence and make applications to Auto makers and their auxiliary units. Let him seek help of his placement office, Professors, alumni and peers and make a start perhaps with intership, prove his mettle and then get absorbed.

Latest Questions

Milind Vadjikar |649 Answers |Ask -Follow

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

Asked by Anonymous - Nov 14, 2024Hindi

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).

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

Milind Vadjikar |649 Answers |Ask -Follow

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

Question by Dharmesh - Nov 09, 2024Hindi

Money

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

Milind Vadjikar |649 Answers |Ask -Follow

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

Asked by Anonymous - Nov 17, 2024Hindi

Money

Hi, I am 34 years old with a daughter of 4 years old. I'm owning a site which costs 20 lakh without loan, 1 house which has loan of 40 lakh and one more site which has loan of 28 lakh. My monthly income is 1 lakh. And im a single mother. I also gets a rental income of 30k from the house.Im also investing in ppf which is around 5lakhs(total till now) , nps around 1 lakh(till now) and lic policy. I want to save for my kid future education and also repay the loan as early as possible. Also investing 10k per year for my daughter's SSY. Please guide me on this.

Ans: Hello;

Please clarify on investible income available after EMI, regular household expenses, NPS, PPF, SSY so as to recommend you other investment options.

Thanks;

Milind Vadjikar |649 Answers |Ask -Follow

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

Question by Rajarshi - Nov 17, 2024Hindi

Money

My father took a sbi life retirement plan @ 3lacs per year premium for 5yrs. He has completed 3premium payment (9lacs) but unable to carry on the policy. What should be our next steps to get our amount back? If we surrender.

Ans: Hello;

You may have to wait till completion of 5 years since their may be a lock-in.

After that they may provide residual fund value, after deducting surrender charges as applicable, as per terms of the policy agreement.

Please read the policy document carefully before signing up.

Best wishes;

Milind Vadjikar |649 Answers |Ask -Follow

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

Question by Pratik - Oct 30, 2024Hindi

Money

Hello sir, I've successfully transferred pf frm Company A to B & now have raised request in Epfo frm C to B where C has approved and transferred to EPF but EPF has rejected with 15k wage error - I've raised grievances in Epfo nd in company C. What is the reason behind this remarks ? Is it something of mixing EPF nd EPS by company C?is submission of form 3A by company C to epfo resolve this issue ?if yes then how should I submit form frm Company C to epfo site?

Ans: Hello;

Your assessment seems correct, i.e. mixing of EPF and EPS contribution.

You may furnish it to EPFO through your current employer with an application for transfer request with revised and updated form 3 A enclosed.

This should resolve your issue.

Best wishes;

Milind Vadjikar |649 Answers |Ask -Follow

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

Question by Anirban - Nov 06, 2024Hindi

Money

My old pf of trust got transfered to curent pf account , both under same UAN no. I can see two pf accounts when i do account log in with UAN, but i can not withdraw from old account neither i can see combined ammount instead i see my old and current pf account. When i raised grievance i got reply from pf office that my old pf got transfered to cureent account. Now i can not raise new grievance within one month. How will i draw old amount or get get old amount get added in current account .please advise

Ans: Hello;

Since you had different member IDs while you were working for two different legal entities they are shown differently under same UAN.

If you want to transfer funds from old member ID to new member ID then you need to have a clear date of exit(DOE) mentioned.

Under the online claim option you can find One Member Transfer option. Just fill that form. submit the transfer request. Then select the present employer to approve your transfer details.

First it will be approved by the current Employer and after that it will be sent to Field Officer.

It will take 5 to 21 days for transferring your account from old member Id to new.

Best wishes;

Milind Vadjikar |649 Answers |Ask -Follow

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

Question by Anirban - Nov 06, 2024Hindi

Money

Hi sir, i am working in a company since 2010. That time i had pf under a old account in Bangalore as trust account till 2016 when my company got separated from parent comoany and we got new pf account in Gurgaon with same UAN no. We got a mail from company that we will raise online transfer from old to current pf account. When i do account login with UAN no , I can see two lines..one for old and another for current one with balances. When i tried to raise complaint through grievances I got reply from PF office that my old account transfered to new account, but under UAN I can see two accounts still and now able to draw amount from old account. So what will i do now to add old amount to new PF account's account.kindly advise

Ans: Hello;

Since you had different member IDs while you were working for two different legal entities they are shown differently under same UAN.

If you want to transfer funds from old member ID to new member ID then you need to have a clear date of exit(DOE) mentioned.

Under the online claim option you can find One Member Transfer option. Just fill that form. submit the transfer request. Then select the present employer to approve your transfer details.

First it will be approved by the current Employer and after that it will be sent to Field Officer.

It will take 5 to 21 days for transferring your account from old member Id to new.

Best wishes;

Milind Vadjikar |649 Answers |Ask -Follow

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

Question by Urmi - Nov 08, 2024Hindi

Money

Hello I am 37 years old . Following is my financial status 1. FD - 1.5 CRORES 2. MF - 25 LAKHS 3. PROVIDENT FUND - 27 LAKH 4. PPF 3 LAKH INVESTMENTS 1. MUTUAL FUNDS - 90 K per month 2. PPF - 1.5 lakh per year 3.PF - 5 lakhs per year 4.NPS - 10 K per month I have one flat. I want to retire at 47 years of age . I will have a pension of 3.5 lakhs after I retire . My present monthly expenses are 1.3 lakhs . My goals are 1. One child education 2. World travel 3.Own house . Can I retire at the age of 47 fulfilling my commitment.

Ans: Hello;

Let us try to put monetary value to your goals:

1. Child education: 1 Cr
2. World Travel: 40 L (for 2)
3. House: 1.5 to 2 Cr
Grand Total: 3.4 Cr

Current holdings:
1. FD- 1.5 Cr
2. MF-25 L
3. PF-27 L
4. PPF-3L

Ongoing monthly Investments:
1. MF-90 K
2. PPF- 12.5 K
3. NPS-10 K
4. PF-41.66 K

Value of current corpus and ongoing investments 10 years hence:
1. MF-2.51 Cr
2. PPF-27.49 L
3. PF-1.25 Cr
Grand Total: 3.76 Cr

Since your investment value is comfortably above your goal value means you can fulfill your goals as envisaged.

You have a assured pension after retirement despite that you are making disciplined investments into NPS is a commendable aspect.

It can help to boost your retirement income after 60.

Happy Investing;

Milind Vadjikar |649 Answers |Ask -Follow

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

Asked by Anonymous - Nov 12, 2024Hindi

Money

I am 46 years old, have a income of 2.8 lacs with variable pay every month after tax deduction. My total CTC is approx 66 lakhs/annum with stock. I have 2 flats worth 1.8 crores, one land worth 9 lakhs, one ancestral land worth 45 lakhs, have company stocks worth 20 to 30 lakhs. PPF current is 32 lakhs for 21 years of experience. My liabilities are home loan worth 80 lakhs. My monthly expenses including EMI is 1.8 Lakhs. My kid education cost 2-3 lakh per annum in Bangalore and she is 12 years in grade 7. Can you help me, how much I need to save every month, so I can have 6-7 crores in liquid money in 10 years and how much should I have for retirement plan by 65+

Ans: Hello;

You may start a monthly sip of 80 K and top it up every year by 20% to reach a corpus of 4 Cr after 10 years considering modest return of 12%.

The land parcels(45+9= 54 L) and company stock(20 L) if sold and the proceeds reinvested in mutual funds for 10 years may yield you a corpus of around 2.3 Cr after 10 years.

So you may accumulate a cumulative corpus of 4+2.3=6.3 Cr after 10 years, as planned.

If you invest 20 K in NPS per month you may reach a corpus of 1 Cr+ in 19 years from now.

You may need a corpus of 8 Cr to generate a retirement income of 2.8 L per month (post-tax) to cover your inflation indexed regular expenses sans the EMI.

Happy Investing;
X: @mars_invest

Kanchan Rai |403 Answers |Ask -Follow

Relationships Expert, Mind Coach - Answered on Nov 17, 2024

Asked by Anonymous - Nov 15, 2024Hindi

Relationship

I am 39 year old single male, is it normal for not being married till this age?

Ans: Yes, it is absolutely normal not to be married at 39. Marriage timelines vary greatly depending on personal choices, cultural norms, and life circumstances. Societal expectations around marriage have evolved, and many people now prioritize other aspects of life, such as career development, personal growth, or meaningful relationships, over adhering to traditional timelines.

Being single at 39 could also mean that you're waiting for the right partner and connection, which is a thoughtful and mature approach. It's better to be in a fulfilling and authentic relationship than to rush into marriage due to societal pressure.

If you’re content with where you are in life, that’s what matters most. If you’re feeling uncertain or pressured, exploring what marriage or partnership means to you and aligning it with your values can be helpful.

See more questions »

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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