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Dr Vinod Kumar  |133 Answers  |Ask -

Kidney Health Specialist - Answered on Sep 25, 2023

Dr Vinod Kumar is a consultant kidney health specialist at Aster RV Hospital, Bengaluru. His expertise includes critical care nephrology, paediatric nephrology and kidney transplantation. He has performed more than 500 kidney transplants, including robotic and high-risk transplants.
Dr Kumar completed his MBBS from JSS Medical College, Mysuru, followed by an MD in internal medicine from the Karnataka Institute of Medical Sciences, Hubballi. He has a DNB in nephrology from St John's Medical College, Bengaluru.... more
Asked by Anonymous - Sep 23, 2023Hindi
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i am 42 years, weight 72, i have a problem of urine leakage in underwear and i have to go for bathroom every 30 minutes. i have consulted urologist, and as per his advise i have checked i took diabetes tests and some urology tests. All tests are normal. But my problem is still continuing.

Ans: It looks like bladder problem. Urologist would be able to help you.
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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Asked by Anonymous - Jul 15, 2024Hindi
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Money
I am 45 with 7 LPA salary. I have a purchased plot. I want to move out of my current house in 2 years. Should I build a house or purchase a flat?
Ans: Your Current Situation
At 45 years old with a salary of Rs 7 lakhs per annum, you own a plot and plan to move out of your current house in 2 years.

Key Considerations
Let's evaluate whether you should build a house or purchase a flat based on several factors.

Financial Assessment
Building a House
Pros:

Customization: You can design it according to your preferences and needs.

Potential Cost Savings: Building can be cheaper per square foot compared to buying a ready-made flat, depending on the area.

Appreciation: The value of a well-built house on your own plot may appreciate more over time.

Cons:

Time-Consuming: Construction can take a long time, potentially more than 2 years.

Management: Requires constant supervision and dealing with contractors, which can be stressful.

Initial Costs: High initial outlay for construction materials and labor.

Purchasing a Flat
Pros:

Convenience: Ready to move in, no waiting period or construction hassle.

Amenities: Flats often come with amenities like security, maintenance, gym, pool, etc.

Fixed Cost: Fixed price with no unexpected expenses compared to potential construction overruns.

Cons:

Less Customization: Limited to the builder's design and layout.

Maintenance Costs: Monthly maintenance charges can be high in some apartments.

Appreciation: Flats may appreciate less compared to individual houses on plots.

Lifestyle Considerations
Building a House
Privacy: More privacy and space compared to flats.

Expansion: Easier to expand or modify in the future as per your needs.

Community: Less communal living; more suited for those who prefer privacy.

Purchasing a Flat
Community Living: Better community interaction, good for families.

Security: Enhanced security measures compared to independent houses.

Maintenance: Professional maintenance of common areas and facilities.

Long-Term Goals
Financial Goals
Investment Potential: Consider long-term appreciation potential. A well-built house may offer better returns.

Future Expenses: Think about long-term maintenance and repair costs for both options.

Personal Goals
Retirement Plans: Consider which option suits your retirement lifestyle better. Flats often offer a more carefree lifestyle with less personal responsibility for maintenance.

Family Needs: Assess the needs of your family. Flats might be more suitable for small families or those who value community amenities.

Final Insights
Recommendation
Based on your situation, I recommend assessing the following before making a decision:

Time and Stress: If you have the time and are willing to manage construction, building a house can be rewarding. If not, purchasing a flat is convenient and less stressful.

Financial Position: Ensure you have a clear budget. Building a house can have unexpected costs. Flats have fixed pricing.

Long-Term View: Consider your long-term living and investment goals. Flats offer convenience and community, while a house offers privacy and potential higher appreciation.

Ultimately, the decision depends on your personal preferences, financial readiness, and long-term goals.

Best Regards,

K. Ramalingam, MBA, CFP,

Chief Financial Planner,

www.holisticinvestment.in

...Read more

Ramalingam

Ramalingam Kalirajan  |5295 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on Jul 25, 2024

Asked by Anonymous - Jul 15, 2024Hindi
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Money
I am 40 year old. Monthly take home 4L(Standard EPF of 1800 deducted). 2 kids 8 year girl and 1 year boy. 55L in Mutual Fund 36L in PF 30L in NPS Land of current value 70L Emergency Fund 10L Health insurance 1Cr, Term Insurance 3Cr and Parental Insurance 25L 1. 56K EMI for HomeLoan (24L due) 2. 20K VPF 3. 52.5K NPS 3. 1.5L Mutual Fund 4. 40K school Fees 5. 12.5K Suknya Yojna 6. 20K debt fund 7. 60K monthly Expenses 8. 11K Gold What will be the strategy to retire in next 15 year by keeping enough money for retirement and Child Education?
Ans: Evaluating Your Current Financial Situation
You have a good income and diversified investments. Let’s analyse your current assets and liabilities to strategise for retirement and child education.

Assets Overview
Mutual Funds: Rs. 55 lakh
Provident Fund (PF): Rs. 36 lakh
National Pension System (NPS): Rs. 30 lakh
Land: Rs. 70 lakh
Emergency Fund: Rs. 10 lakh
Health Insurance: Rs. 1 crore
Term Insurance: Rs. 3 crore
Parental Insurance: Rs. 25 lakh
Liabilities Overview
Home Loan EMI: Rs. 56,000 (24 lakh due)
Monthly Expenses: Rs. 60,000
Children’s Education and Future: Significant future costs
Current Monthly Investments
Voluntary Provident Fund (VPF): Rs. 20,000
NPS: Rs. 52,500
Mutual Funds: Rs. 1,50,000
Sukanya Samriddhi Yojana: Rs. 12,500
Debt Fund: Rs. 20,000
Gold: Rs. 11,000
Retirement and Child Education Strategy
Define Your Goals
Retirement in 15 Years
Children’s Education Fund
Retirement Planning
Step 1: Calculate Retirement Corpus
Estimate your retirement expenses. Factor in inflation and life expectancy. Assume Rs. 1 lakh monthly expenses at retirement. With 6% inflation, this becomes Rs. 2.4 lakh per month in 15 years.

Step 2: Increase Contributions
NPS: Continue with Rs. 52,500. This will accumulate significant corpus.
Mutual Funds: Continue Rs. 1.5 lakh. Increase by 5-10% annually to keep pace with inflation.
Step 3: Diversify Investments
Equity Exposure: Focus on equity mutual funds for growth. They offer higher returns over long-term.
Debt Exposure: Maintain a balanced portfolio. Keep investing in debt funds for stability.
Child Education Planning
Step 1: Estimate Education Costs
Education costs are rising. Assume Rs. 50 lakh for each child’s higher education.

Step 2: Dedicated Investments
Sukanya Samriddhi Yojana: Continue Rs. 12,500 for your daughter.
Equity Mutual Funds: Allocate Rs. 50,000 monthly for both children’s education. Increase annually.
Managing Liabilities
Home Loan Repayment
Accelerate EMI: Pay an additional EMI yearly if possible. This reduces interest and tenure.
Prepay Loan: Use bonuses or increments to prepay the home loan. Aim to close it within 5-7 years.
Emergency Fund
Maintain Rs. 10 lakh for emergencies. Ensure it covers at least 6 months of expenses.

Insurance Coverage
You have adequate health, term, and parental insurance. Regularly review and adjust coverage if needed.

Gold Investments
Continue Rs. 11,000 in gold for diversification. It’s a good hedge against inflation.

Final Insights
To retire comfortably and fund your children's education:

Continue and increase current investments.
Focus on equity for long-term growth.
Maintain a balanced portfolio.
Prepay home loan to reduce liabilities.
Regularly review and adjust your financial plan with a Certified Financial Planner.
Best Regards,

K. Ramalingam, MBA, CFP,

Chief Financial Planner,

www.holisticinvestment.in

...Read more

Ramalingam

Ramalingam Kalirajan  |5295 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on Jul 25, 2024

Asked by Anonymous - Jul 14, 2024Hindi
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Money
Sir my name is khekaho from nagaland Iam married with one son and one daughter,both me and my wife are state government employees with the monthly salary of rupees 54 thousand and 53 thousand respectively.I would like you to give us an ideas of how to secure our feature when we retired .
Ans: Name: Khekaho
Location: Nagaland
Marital Status: Married with one son and one daughter
Employment: Both state government employees
Monthly Salaries: Rs 54,000 and Rs 53,000
Financial Planning Goals
Retirement Security
Children's Education
Emergency Fund
Wealth Creation
Step-by-Step Financial Plan
1. Assess Your Current Financial Situation

Monthly Combined Income: Rs 1,07,000
Expenses: List all monthly expenses
Savings: Calculate your current savings and investments
2. Create an Emergency Fund

Amount: 6-12 months of expenses
Investment: High-interest savings account or short-term FDs
3. Children's Education Fund

Estimate Costs: Project future education costs
Investment: SIPs in diversified mutual funds or child education plans
4. Retirement Planning

Employee Provident Fund (EPF)

Contribution: Both you and your wife contribute to EPF
Benefit: Tax-free and compounding interest
Public Provident Fund (PPF)

Contribution: Invest in PPF for tax benefits
Tenure: 15 years with partial withdrawals allowed after 5 years
Mutual Funds

Diversification: Invest in a mix of equity and debt mutual funds
SIP: Start monthly SIPs to benefit from rupee cost averaging
National Pension System (NPS)

Contribution: Invest in NPS for retirement corpus
Benefit: Tax benefits under Section 80C and 80CCD
5. Insurance Planning

Life Insurance

Term Plan: Both should have a term insurance plan
Coverage: At least 10-15 times your annual income
Health Insurance

Family Floater Plan: Cover the entire family
Sum Assured: Adequate to cover medical emergencies
6. Debt Management

High-Interest Loans: Pay off any high-interest debt
Home Loans: Ensure timely payments to avoid penalties
7. Wealth Creation

Diversified Investments

Equity Mutual Funds: For long-term growth
Debt Mutual Funds: For stability and regular income
Regular Monitoring

Review Portfolio: Regularly review and adjust your investments
Rebalance: Ensure your portfolio aligns with your risk tolerance and goals
Benefits of Regular Funds Over Direct Funds
Expert Management

Regular Funds: Managed by experienced professionals
Benefit: Better risk management and returns
Convenience

Ease: Investing through Certified Financial Planners offers personalized advice
Disadvantages of Index Funds
Limited Flexibility

Tracking: Index funds strictly follow market indices
Drawback: Lack of active management to adapt to market changes
Lower Returns

Potential: Actively managed funds can outperform index funds
Final Insights
Start Early: The sooner you start, the better
Diversify: Spread investments across different asset classes
Consult a CFP: Professional advice ensures a comprehensive plan
Review Regularly: Adjust your plan as needed to stay on track
Best Regards,

K. Ramalingam, MBA, CFP,

Chief Financial Planner,

www.holisticinvestment.in

...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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