Struggling Data Science Student: Which Course Holds the Key?

Ans: Hi Lakkara,

Retirement is a long period of time of approx. 20 years. During this period as you may not have any income, the corpus you have needs to fulfill your monthly expenses.

The plan of utilizing your 1 crore corpus for retirement plan depends on multiple factors - monthly expenses, risk profile and other requirements.
For now I will assume, your risk as moderate and there are no other requirements.

So here's what you need to do (assuming monthly expenses of 60K).
1. Calculate your expenses (monthly/annually) e.g. @50k per month expenses, annual expenses = 6 lacs.
2. Calculate you annual expenses for the next 4 years (you can use inflation e.g. 6% increase each year). e.g. Year 2 exp is 6*1.06=6.36L, Yr3=6.74L, Y4=7.15L, Y5=7.57L
3. Calculate annual expenses for the remaining years also in same manner e.g. Y6 = 8.03L, etc.
Divide your Corpus into 3 buckets.
Bucket 1 - your savings account - keep 1 year expenses in it and withdraw for monthly expenses.

Bucket 2 - Fixed Deposits - Keep next 4 years expenses in FDs that will earn same as rate of inflation i.e. 6%. Ensure you have FD's maturing each year for the annual expenses calculated above. Match maturity amount with calculated expenses above. So a total of 24L will be invested FDs, 6L for every year's expenses.

Bucket 3 - Hybrid Mutual funds - Keep the remaining amount e.g. 1Cr - 30L = 70 Lacs in a Hybrid Mutual fund like HDFC Balance Advantage fund. These funds have a combination of Debt and Equity investments. They provide some growth to the amount you invest and also cushion the down times in the market. After 2 years, from this fund, you can plan to withdraw your annual expenses for that year e.g. Y3 (Y3 = 6.74L), and invest it in an FD with maturity of 3 years (giving you Y6 exp = 8.03L).
Repeat this withdrawal from MF (for amount that same as that years expenses and Investment into FD for maturity of 3 years.

In this way if the MF gives a return of 10% (or above), you will have covered your annual expenses and still have a corpus of over 45L with you at the end of 20 years.

So what's important for you to do it calculate your monthly expenses and if it matches the numbers I have assumed above, you will be fine for a comfortable retirement life. So it all depends on your monthly expenses and other factors for the plan.

You can consult a CFP for a more comprehensive retirement plan based on your requirements.

Thanks & Regards
Janak Patel
Certified Financial Planner.

Ans: Hello dear.
Just participate in the counseling process. Choose the options wisely, considering your score. Prioritize core branches at the top if you prefer. Otherwise, go with the preferred course via management quota in a private college.
Best of luck.
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Radheshyam

Ans: Hello dear.
Prefer AI and ML at the PES main campus if possible. Travel time matters more in Bangalore. Please keep this aspect in mind before finalizing the institute. The final choice will be yours.
Best of luck.
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Radheshyam

Ans: Hello Shweta,
It is not possible for us to list the names of colleges. Sorry.
Best of luck.
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Radheshyam

Ans: Hello Divyanshu
Better to participate in the Maharashtra counseling with an MHTCET score. Chances are less to get a seat in decent colleges.
Best of luck.
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Radheshyam

Ans: Hello Shaileder
CSE @ Amit is a good option.
Best of luck.
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Radheshyam

Ans: Hello Seema
Chances are slim to get admission to NITs, and that too for CS. Explore other options
Best of luck.
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Radheshyam

Ans: Hello dear.
With the MHTCET score, your son has bright chances of securing a seat in either Pune or Mumbai at a tier 1 college. Choose the college options from Pune and Mumbai during the counseling process. One of the colleges will definitely be allotted to your son.
Best of luck.
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Radheshyam

Ans: Hello dear
With the mentioned MHTCET score, you can keep hopes alive to get your preferred branches with COEP, PICT or VJTI. Wait for the BITSAT 2nd session outcome to take the final decision.
Best of luck.
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Radheshyam