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Dr Karthiyayini

Dr Karthiyayini Mahadevan  |599 Answers  |Ask -

General Physician - Answered on Nov 20, 2023

Dr Karthiyayini Mahadevan has been practising for 30 years.
She specialises in general medicine, child development and senior citizen care.
A graduate from Madurai Medical College, she has DNB training in paediatrics and a postgraduate degree in developmental neurology.
She has trained in Tai chi, eurythmy, Bothmer gymnastics, spacial dynamics and yoga.
She works with children with development difficulties at Sparrc Institute and is the head of wellness for senior citizens at Columbia Pacific Communities.... more
Ajay Question by Ajay on Sep 17, 2023Translate
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I am 34 years old. My cholesterol is 245 and triglycerides level is 472. I took medicines and it came to normal levels but again after 2-3 months it started increasing. Is there any treatment in allopathy or ayurveda or homeopathy so that it didn't increase again and again. Cure it permanently.

Ans: Diet control with avoiding fried food, If taking animal protein, avoid eating organs , brisk walking and early dinner by 6pm helps. Liver needs to be supported through early dinner
DISCLAIMER: The answer provided by rediffGURUS is for informational and general awareness purposes only. It is not a substitute for professional medical diagnosis or treatment.
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As part of a couple in our early 30s, along with our elderly parents, we have a combined annual income of Rs 1.08 crores. How can we collectively plan for both our retirement and the financial well-being of our parents in the long run?
Ans: Balancing your financial needs and that of your parents, while planning for retirement, requires a comprehensive strategy. Here's a roadmap to get you started:

1. Understand your financial situation:

Gather information about:

• Income: List down your combined annual income (Rs 1.08 crore) and any other sources of income like rental income or investments.
• Expenses: Track your monthly expenses for a few months to understand your spending habits.
• Debts: List down any outstanding debts like mortgages, car loans, etc., including your parents' debts if applicable.
• Retirement benefits: Check your eligibility and potential benefits from social security or employer-sponsored retirement plans.
• Parents' needs: Estimate your parents' current and future financial needs, including healthcare costs.

2. Set retirement goals:

• Desired retirement age: Decide when you and your partner wish to retire.
• Desired lifestyle: Determine the lifestyle you envision in retirement, considering travel, hobbies, and potential healthcare needs.
• Financial goals: Based on your desired lifestyle and life expectancy, calculate the estimated corpus (total sum) required for your retirement. Consider inflation while making these calculations.

3. Create a financial plan:

• Debt management: Prioritise paying off high-interest debts to free up future income for savings and investments.
• Budgeting: Create a budget that allocates funds for essential expenses, savings, and debt repayments. You can involve your parents in creating a budget for their expenses as well.
• Savings and investments: Explore various investment options like mutual funds, PPF (Public Provident Fund), or NPS (National Pension Scheme) based on your risk tolerance and investment horizon. Utilize tax-advantaged retirement accounts like 401(k)s or IRAs if available to you.
• Healthcare planning: Consider health insurance plans for yourselves and your parents to manage potential medical costs in the future.

4. Open communication and support:

• Discuss openly: Have open and honest conversations with your partner and parents about your financial situation, goals, and expectations. This fosters transparency and builds trust within the family.
• Seek professional guidance: Consulting a financial advisor can help you create a personalized plan considering your specific financial situation and retirement goals. They can also guide you on investment strategies and risk management.

Additional considerations:

• Government schemes: Explore government schemes for senior citizens like the Senior Citizen Savings Scheme (SCSS) or the Pradhan Mantri Jan Dhan Yojana (PMJDY) that may benefit your parents.
• Downsizing: Consider downsizing your living situation or exploring alternative housing options in retirement to potentially reduce living expenses.
• Part-time work: If feasible, consider continuing part-time work in retirement to supplement your income and maintain an active lifestyle.

Remember, this is a general framework, and it's crucial to tailor it to your specific circumstances. Consulting a financial advisor can provide personalised guidance and ensure your financial plan considers all the complexities involved.
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CAT, XAT, CMAT, CET Expert - Answered on Mar 02, 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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