Home > Health > Question
Need Expert Advice?Our Gurus Can Help

81-Year-Old Man with Prostate Cancer Seeks Advice on Radiation Therapy

Dr Karthiyayini

Dr Karthiyayini Mahadevan  |1145 Answers  |Ask -

General Physician - Answered on Jun 14, 2024

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
Asked by Anonymous - May 21, 2024Hindi
Listen
Health

I am 81 yrs, suffering from prostate cancer since last 6/7 months. I had earlier multiple health issues like Type 2 Diabetes (2yrs), Alzheimer's, Parkinsons plus, I have also heart issues with two stents inserted in 2014. I follow a very sedate lifestyle with walking for 45-55 mts + physical exercise 30 mts almost each day. I have been able to contain Alzheimer's and Parkinson's to almost 85-90% level and check Diabetes with food habits and walking to almost 70-75% level. . From 212 FPBS t has come down to 111 and PPBS currently is 78. I am focusing on prostate cancer. I wish to give some data for your reference: PSA- Total- from 4.14 it has come down to 1.89 Testosterone- from 585 it has come down to 0.660 reading of 20/05/24 I am strictly following my Urologists instructions so far. I am under his treatment for last 6/7 months. But he advices me to go in for MRI based Radiation therapy at HYD. I am extremely averse to any type of radiation therapy as the cells apparently are in sleeping mode with hormonal therapies but once I go in for radiation even if 85% cells die the balance surviving cells will attack my system vigorously and age will not be able to withstand their attack. Can I continue with hormonal therapies? Your advice please

Ans: You are absolutely right Radiotherapy has its own set back of affecting the normal cells too decreasing the overall vitality
So I suggest look into Naturopathy in addressing this issue along with lifestyle modification
Please have a positive attitude as Prostate Cancer relatively has better outcome after being treated with the hormonal therapy.
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.
Health

You may like to see similar questions and answers below

Latest Questions
Ramalingam

Ramalingam Kalirajan  |8454 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on May 16, 2025

Asked by Anonymous - May 16, 2025
Money
Dear sir, i have a personal loan of 28 lacs with emi of 70k, i hv no MF or other saving. I have a salary of 1.5 lac/month. How can i pay this loan as soon as possible..
Ans: You are earning Rs. 1.5 lakh per month. You are paying Rs. 70,000 as EMI. You have no savings or mutual funds. You are carrying a large personal loan of Rs. 28 lakhs. You are worried and want to close this loan soon. You are not alone. Many professionals go through this phase.

You are earning well. That’s your biggest strength now. You want a clear plan. That’s a very good decision. Let us now evaluate your situation in detail. Let’s move towards a solution, step by step.

Understanding Your Present Cash Flow
Your salary is Rs. 1,50,000 per month.

Your EMI is Rs. 70,000 per month. That is nearly 47% of your income.

You have no other EMIs or savings at this moment.

You are using the rest of Rs. 80,000 for your expenses.

You want to become loan-free as early as possible.

This intention is very good. Stay consistent with that.

Step 1: Evaluate and Trim Monthly Expenses
Write down every single monthly expense.

Split into essentials and non-essentials.

Try to reduce expenses by 20–30%.

Cancel unwanted subscriptions, upgrades, or luxuries.

Limit outings, dining, gadgets, and impulsive spends.

If you are living alone, shift to a modest house.

If you are supporting family, discuss financial goals together.

Try to save Rs. 15,000 to Rs. 20,000 more each month.

Your goal is to free up maximum cash flow.

Step 2: Create an Emergency Reserve
Loan EMI is high. So, you must plan for emergencies.

Keep 2 months’ worth of EMI and basic expenses aside.

That means around Rs. 2 lakh in savings account or liquid fund.

Do not touch this amount unless urgent.

It will protect your credit score during job loss or illness.

Build it slowly over 6–8 months.

Keep it parked separately, not mixed with other expenses.

Step 3: Prioritise Loan Repayment
Your main goal is to repay the Rs. 28 lakh loan quickly.

Use every extra rupee for part-payment.

Contact your bank to know prepayment terms.

Ask if there are charges for extra payments.

Try to part-pay every 6 months.

Even Rs. 1 lakh every 6 months can reduce tenure.

Avoid extending the tenure for short-term relief.

Focus on reducing principal, not EMI amount.

Never miss EMI. It affects credit and future loan options.

Step 4: Avoid Taking Any New Loan
Do not apply for car, gadget, or holiday loans.

Say no to top-up on personal loans.

Do not buy items on credit cards or EMI offers.

Personal loan is already a costly loan.

Your focus should remain on clearing it, not adding to it.

Step 5: Protect Yourself With Term Insurance
In case of sudden death, the burden shifts to family.

Take a pure term insurance cover of Rs. 1 crore.

Premium is low if taken at a younger age.

It will not return money but gives protection.

Avoid any endowment or return-based insurance now.

Keep insurance and investment separate always.

Step 6: Don’t Invest While Repaying Loan? No.
Many think they must repay the loan fully before investing.

But you are still young. Time is on your side.

Wealth creation also needs early action.

So, start small SIPs while repaying loan.

Begin with Rs. 3,000–5,000 per month if possible.

Gradually increase SIP with every increment or bonus.

Don’t wait for a “perfect time” to invest.

Discipline matters more than timing.

Step 7: Avoid Direct Mutual Fund Investing
Some people invest directly without guidance.

Direct plans have no human advisor.

Mistakes and panic are more likely without support.

Performance tracking, rebalancing, goal alignment is missing.

It may look cheaper, but it costs more in long term.

Better to invest through a Mutual Fund Distributor with CFP.

Regular plans give ongoing service and portfolio control.

That’s how you stay committed and consistent.

Step 8: Why Not Index Funds?
Index funds follow stock index without human skill.

They copy the market. They don’t beat it.

They lack flexibility during market crashes.

They can’t avoid bad stocks in index.

You need alpha, not average returns.

Actively managed funds offer better growth options.

Fund managers analyse and select best stocks actively.

This approach fits your goal better.

Step 9: Create a Bonus Utilisation Strategy
Use your annual bonus wisely.

Keep 10% for personal use.

Use 40% for loan part-payment.

Use 30% for emergency fund building.

Use 20% for starting or increasing investments.

This strategy balances loan and wealth building.

Step 10: Build Financial Habits
Set monthly bank auto-debit for SIP and savings.

Track spending weekly using a mobile app.

Read about financial awareness 15 minutes weekly.

Review your money goals every 3 months.

Reward yourself when you stay consistent.

Share progress with family or trusted friend.

Step 11: Stop All High-Interest Debt
If you are using credit cards, pay full amount monthly.

Never roll over or pay minimum due only.

Credit card interest is higher than personal loan.

Stop using credit card till loan is reduced.

Avoid payday loans, buy-now-pay-later, or fast cash apps.

Step 12: Plan For Next 3 Years
In next 3 years, aim to reduce 40–50% of loan.

Start investing alongside debt repayment.

Slowly reduce lifestyle expenses.

Make yearly part-payments without fail.

Increase income through part-time consulting or freelancing.

Even Rs. 10,000 extra income helps in early closure.

Step 13: Track Credit Score and Loan Behaviour
Download credit report every 6 months.

Keep your score above 750 always.

Never delay EMI even by 1 day.

Do not apply for too many loans or credit cards.

A healthy score keeps your options open in future.

Step 14: Avoid Mixing Insurance and Investment
Do not buy ULIPs, endowment or money-back plans.

These give low returns, long lock-ins, and poor liquidity.

Focus on mutual funds for wealth building.

Keep term insurance for protection.

Do not fall for “tax-saving + insurance” traps.

Step 15: Choose Right Mutual Fund Strategy
Select 2–3 equity mutual funds with growth track record.

Begin SIP with small amount like Rs. 3,000–5,000.

Choose regular plans via MFD with CFP credential.

Review performance yearly.

Invest for long term, not for short term gains.

Don’t stop SIP during market crash. Add more if possible.

Step 16: Discipline and Patience Are Game Changers
Becoming debt-free takes time and patience.

Avoid shortcuts or emotional financial decisions.

Be consistent with part-payments and SIPs.

Track your money monthly.

Reward yourself for milestones achieved.

Celebrate progress without spending more.

Finally
You are earning well. That is your best asset now.

Your loan is high. But it can be reduced with discipline.

You need a plan. You now have it.

Cut expenses. Start saving. Make regular part-payments.

Also begin investing. Even with small amount.

Don’t delay building wealth.

Don’t wait till loan is over.

Take term cover. Avoid credit traps.

Invest through mutual funds with CFP and MFD.

Avoid index funds. Avoid direct plans.

Stay on track. Review progress yearly.

You will win over time. You have already taken the first step.

Keep walking. Stay focused. Stay steady.

Best Regards,

K. Ramalingam, MBA, CFP,

Chief Financial Planner,

www.holisticinvestment.in

https://www.youtube.com/@HolisticInvestment

...Read more

Ramalingam

Ramalingam Kalirajan  |8454 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on May 16, 2025

Asked by Anonymous - May 16, 2025
Money
Hi.. My age is 39. My take home salary is Rs. 100000. I have 1 lacs in SIP every month Rs. 6000. In stocks 1 lacs and. I have cinstructed home recently with 75 lacs home loan .for that 70k EMI per month.i am getting rental income 35k'Which am paying part payment monthly. I have 2 kids elder one studying 9th and younger one 5th.Recently have taken a lic policy around 60L for that premium will ne 95kPA 15 years.I have a plan to retire by 49.So next 10 year i want finacial plan for closing my Home loan,My sons education and for my retirement corpus at least 2 Cr.kinldy guide me
Ans: You are 39 years old with two school-going children, a new home with a large home loan, and a dream to retire by 49. Your income is Rs. 1 lakh per month with Rs. 35,000 rent helping your EMI. You are on the right path. But to achieve all your goals—home loan closure, children’s education, and Rs. 2 crore retirement corpus—you need a structured, practical, and committed financial plan.

Let’s assess step-by-step and give you a full 360-degree roadmap.

Monthly Cash Flow Assessment

Your salary is Rs. 1 lakh.

Home loan EMI is Rs. 70,000.

Rental income is Rs. 35,000, used partly for EMI.

Your net cash outflow towards EMI becomes Rs. 35,000.

You invest Rs. 6,000 in mutual funds.

Annual LIC premium is Rs. 95,000. Monthly average is around Rs. 7,900.

After loan and LIC, your surplus is limited.

Review of LIC Policy and Recommendation

The LIC policy gives Rs. 60 lakh cover with Rs. 95,000 premium.

Traditional plans give low returns and lock your money.

It’s better to separate insurance and investment.

A term insurance plan is cheaper and gives higher cover.

Consider surrendering the LIC policy.

Use the surrender value and future premiums for mutual funds.

Invest through a Certified Financial Planner and MFD.

Regular plans give guidance and behavior control.

Direct plans don’t give advisory or portfolio discipline.

You need structured advice, not self-navigation.

Focus on long-term wealth creation, not bundled products.

Home Loan Repayment Strategy

The home loan EMI is your biggest monthly expense.

Full pre-closure in 10 years needs aggressive planning.

Use the Rs. 35,000 rent fully for home loan part-payment.

Make part-payments once every 6 months or yearly.

Even Rs. 1 lakh extra per year reduces total interest.

Avoid stopping EMI even if rent increases.

Home loan pre-closure before age 47 should be your target.

Once home loan closes, use the rent for investments.

Children's Education Planning

Elder child is in 9th, younger in 5th.

You need funds for graduation and post-graduation.

Focus on wealth creation over the next 8–10 years.

Begin SIPs dedicated to each child’s education.

Right now you invest Rs. 6,000 in SIP.

Increase it to Rs. 10,000 per month over 1 year.

When you stop the LIC policy, shift Rs. 8,000 to SIPs.

That will make monthly SIPs around Rs. 16,000.

Invest in diversified equity mutual funds through CFP and MFD.

Avoid index funds.

Index funds only mimic markets. They lack active return generation.

Actively managed funds offer better risk-adjusted returns.

Your goal requires alpha, not just average growth.

Also create a small emergency fund for kids’ school needs.

Keep 2–3 months of education expenses in savings.

Education inflation is rising. Stay proactive.

Retirement Corpus Planning

You want Rs. 2 crore corpus by 49.

You have only 10 years left.

Present investment is Rs. 6,000 per month.

LIC premium of Rs. 95,000 can be redirected after surrender.

That makes SIPs Rs. 14,000–16,000 per month.

When EMI reduces or stops, shift EMI amount to SIPs.

After home loan closure, invest Rs. 70,000 monthly.

Continue till age 49 in equity mutual funds.

This way, you can move closer to your Rs. 2 crore goal.

Begin retirement-specific SIPs from now.

Invest in actively managed equity funds.

Track performance yearly with your CFP.

Don’t withdraw or pause SIPs due to markets.

Follow a goal-based approach with patience.

Emergency Fund and Health Planning

Create Rs. 2 lakh emergency fund in savings or liquid funds.

This should cover 3–4 months of EMI and household needs.

Keep it separate from other investments.

Get health insurance for family of 4.

Employer cover is not enough.

Get Rs. 10 lakh floater policy separately.

Medical expenses can disturb your savings plan.

Prevent financial shocks by being prepared.

Tax Efficiency and Liquidity

Plan tax-saving using PPF, mutual funds, and insurance wisely.

Avoid locking all money in illiquid or low-yielding tools.

Avoid new endowment or traditional insurance products.

Don’t invest in real estate for now.

Property involves cost, loan, and low post-tax yield.

Liquidity is more important at this stage.

Mutual funds offer better liquidity and flexibility.

Long term capital gains in equity above Rs. 1.25 lakh are taxed at 12.5%.

Short term capital gains are taxed at 20%.

Debt fund gains are taxed as per your slab.

Tax planning must match investment goals.

Your CFP can structure tax and investment together.

Annual Strategy Review

Review your financial plan yearly with a Certified Financial Planner.

Track goals and SIP performance yearly.

Adjust SIPs based on income increase.

Avoid stopping SIPs for small reasons.

Monitor loan closure progress.

Also track LIC surrender and mutual fund use.

Stick to the plan with patience.

Ten years can build huge wealth with the right approach.

Key Actions to Take Immediately

Start tracking monthly expenses to save more.

Surrender LIC policy and consult your CFP.

Build emergency fund of Rs. 2 lakh in next 6 months.

Increase SIP to Rs. 10,000 now. Target Rs. 16,000 within 1 year.

Use rent fully for part-payment of home loan.

Get term insurance for Rs. 1 crore cover.

Review insurance for children and spouse.

Start two SIPs for child education with Rs. 8,000.

Set goal-specific SIPs in equity mutual funds.

Prepare for retirement investment once loan closes.

Build good habits and avoid panic selling.

Finally

You are working hard and managing home, children, and loan well. You are already investing and earning rent. That is a good beginning.

Now shift focus to disciplined investing. Cut underperforming insurance. Use those funds in mutual funds.

Use the rental income as a smart weapon to finish loan faster. Each extra part-payment saves interest.

Your children's education and your retirement both need focused SIPs.

Start with available surplus and increase gradually. The 10-year goal is possible.

Plan. Track. Stick to your path.

Take help from a Certified Financial Planner for consistent progress.

Best Regards,

K. Ramalingam, MBA, CFP,

Chief Financial Planner,

www.holisticinvestment.in
https://www.youtube.com/@HolisticInvestment

...Read more

Ramalingam

Ramalingam Kalirajan  |8454 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on May 16, 2025

Asked by Anonymous - May 16, 2025
Money
I am a 40-year-old woman working in a corporate role with a monthly salary of 85,000. I am staying with my in laws and my 8 year old son. My husband earns Rs 1.2 lakh and takes care of the house expenses. My 68 year old MIL is diabetic and a heart patient. Her monthly expenses total to 25,000 to 30,000, excluding hospital visits and random scans. My home loan EMI is Rs 55,000. We are barely able to save much for our future. How can we create a better savings plan and reduce financial stress?
Ans: You are managing many responsibilities. It is not easy. Balancing income, expenses, and savings is a big task. But it is possible with thoughtful planning.

Below is a complete and structured guidance to reduce your financial stress and improve savings.

Let us go step by step.

?

Assess Current Financial Position

Your combined monthly income is Rs. 2.05 lakh. That is a strong starting point.

Home loan EMI is Rs. 55,000. That is over 25% of your income. It needs attention.

Your mother-in-law’s expenses of Rs. 25,000–30,000 are fixed and necessary.

Household and lifestyle expenses are managed by your husband. That gives you space to plan.

But very little is getting saved now. This must change with a clear roadmap.

?

Track and Categorise All Expenses

Start with writing down every rupee spent in a month.

Use simple categories. Example: EMI, groceries, medicines, education, transport.

Check for hidden spends. Subscriptions, dining out, online purchases, etc.

See which items are essential and which are flexible.

This small habit helps reduce wastage. It gives power over your money.

You will discover opportunities to save at least 5–10% monthly.

Involve your husband. Financial planning is teamwork. That makes it sustainable.

?

Home Loan Strategy and EMI Load

Rs. 55,000 EMI is high. You must check your loan tenure and rate again.

If the loan is more than 15 years old, consider refinancing to lower rate.

Don’t rush to prepay unless you are saving enough for emergencies first.

If your savings increase later, partial prepayments every year can reduce burden.

A Certified Financial Planner can help you assess interest vs savings balance.

Keeping EMI under 40% of income is ideal. Work towards that goal.

?

Emergency Medical Expenses for Mother-in-Law

Her health condition needs structured medical planning.

First priority: Check her current health cover. Does she have insurance?

If not, see if a senior citizen policy is possible. Costs will be higher at this age.

If insurance is not possible, start a dedicated medical fund for her.

Keep Rs. 5,000–Rs. 7,000 aside monthly in a low-risk instrument.

This helps reduce shock from hospital bills or scans.

Keep hospital records in order. Use preventive check-ups to reduce surprise expenses.

?

Emergency Fund Creation

You need a safety fund of 4 to 6 months of expenses.

This protects you in case of job loss, illness, or sudden repair costs.

Even Rs. 5,000 saved monthly can build this in a year or two.

Use low-risk, liquid tools. Do not mix this with investments.

Emergency fund should be easy to withdraw, without penalty.

?

Child’s Education Planning

Your son is 8 years old. In 10 years, college costs will start.

Higher education is getting more expensive. You must start a separate fund.

Begin a disciplined investment of Rs. 5,000–Rs. 7,000 per month.

Prioritise long-term, actively managed mutual funds through a CFP.

Don’t use direct mutual funds. Regular plans give access to expert reviews and advice.

Avoid ULIPs, endowment plans. These give low returns and poor flexibility.

Check this goal every year and increase SIP when income grows.

Small early efforts give big results later through compounding.

?

Improve Savings Flow

You may feel there is no money to save now. But small steps help.

Start with fixed savings immediately after salary credit. This is “pay yourself first”.

Even Rs. 3,000 to Rs. 5,000 savings monthly builds habit and confidence.

Use auto-debit to mutual funds. Keep it separate from daily expenses account.

Don’t wait for “surplus”. Create savings as a non-negotiable part of monthly life.

?

Insurance and Risk Protection

You must check your own term life insurance cover.

Minimum cover should be 10–12 times annual income. Your husband too needs the same.

Health insurance for all family members must be active. Confirm claim limits.

One hospitalisation without insurance can set you back financially for years.

Don’t rely on employer health plans only. Buy a personal policy too.

If existing policies are LIC or ULIP type, recheck their benefits.

If returns are low, surrender them after 5 years and shift to mutual funds.

?

Joint Family Expense Sharing

Currently your husband handles household costs. That is generous support.

But as your income grows, split some expenses. This increases savings from both sides.

Joint saving goals for child, emergency fund, or a family vacation helps motivation.

Discuss money matters openly. Hiding expenses or worries creates stress later.

?

Avoid Debt Traps and Buy Wisely

Don’t take personal loans or credit card EMI options unless very urgent.

Avoid buying expensive gadgets, furniture, or holidays on credit.

Focus spending on needs, not wants. That creates long-term peace.

Track EMI-to-income ratio regularly. Keep it under 40% total, including home loan.

?

Invest in Growth-Based Instruments

Once emergency fund is ready, start equity mutual fund SIPs.

Do not use index funds. They give limited returns and copy market average.

Choose well-managed active funds through a certified MFD and CFP.

They give better risk control, fund rebalancing, and personalised guidance.

Rebalance your investments every year with help of a professional.

Avoid direct equity unless you have knowledge, time, and strong risk appetite.

For short-term goals, use safe options like short-term mutual funds or RDs.

?

Use Bonuses and Increments Wisely

Any yearly bonus or appraisal should partly go to savings.

Avoid spending full bonus on gadgets or events. Use at least 50% for goals.

Increase SIP amount every time your salary grows. Even Rs. 1,000–2,000 more helps.

Stay consistent. Skipping SIP for small reasons breaks the wealth-building chain.

?

Involve Your Son in Basic Financial Learning

Teach your son simple money lessons early.

Let him understand value of savings, budgeting, and delayed gratification.

This will help him grow into a responsible adult.

Financial literacy is as important as academic knowledge.

You are his best teacher. Your daily actions teach more than words.

?

Mental and Emotional Health Check

Financial pressure can cause emotional stress in families.

Take one day a month to review your money matters calmly.

Don’t compare with others. Every family’s journey is different.

Seek help from Certified Financial Planner to structure your roadmap.

Set realistic goals. Celebrate small wins. Stay hopeful. Progress takes time.

?

Avoid Common Investment Mistakes

Don’t invest in gold chits or unregistered chit funds.

Don’t mix insurance and investments. That reduces both benefits.

Don’t stop SIPs during market falls. That is when they benefit most.

Don’t rely only on FDs for long-term goals. They lose to inflation.

Don’t trust quick-return schemes. They often lead to scams.

?

Final Insights

Your income is strong. But rising expenses and loan burden need balance.

Start with a written family budget. Identify cuttable costs.

Build emergency fund. Ensure full insurance coverage.

Begin long-term SIPs for child’s education and retirement.

Don’t aim for perfection. Consistency is more powerful than big steps.

Involve your husband and create joint financial goals.

Track progress every 6 months. Adjust based on income and health changes.

Stay disciplined. With patience, you can achieve financial security.

Consider a professional review once a year with a Certified Financial Planner.

That gives clarity, direction, and peace of mind.

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

...Read more

Ramalingam

Ramalingam Kalirajan  |8454 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on May 16, 2025

Money
I am 45 years old male and my salary is 1.5 lac and a government employee. I have two daughters one is 8 years old and other 13 years old. I have current savings of 10 lac,ppf 15 lac, plot of 50 lac. Please advise me for securing better future for my daughters.
Ans: At 45 years of age, with two growing daughters, you are right to think about a solid and secure future for them. Your savings, PPF, and plot ownership show a good foundation. Let’s now plan a 360-degree approach for a secure financial future for your daughters.

Below is a detailed plan for your financial roadmap, explained in simple terms. Each part addresses a specific need and goal for your family.

1. Secure Your Emergency Fund First

Keep at least 6 months of your salary as emergency savings.



This money should stay in a safe place like a bank or liquid mutual fund.



Do not invest this money in risky or locked-in options.



This helps during job delays, medical needs, or any sudden expenses.



2. Review and Strengthen Health Insurance Cover

You need a good health policy for yourself and your family.



A cover of Rs. 10 lakh or more is recommended today.



Medical expenses are rising faster than income.



Your daughters should also be part of this family cover.



Always prefer a separate health policy and not just the government-provided facility.



3. Review Your Life Insurance Coverage

Only pure term insurance should be considered.



Avoid plans that mix insurance with investments.



Your term cover should be at least 10 to 15 times your yearly salary.



This ensures your family’s lifestyle and dreams remain safe.



4. Continue with PPF Investment Smartly

Your PPF of Rs. 15 lakh is a solid base.



Continue small yearly deposits till maturity.



Use PPF mainly for your retirement.



Don’t touch this for your daughters' education.



5. Assign Goals: Education and Marriage Planning

Your elder daughter is 13. Education expenses will start in 5 years.



Your younger daughter is 8. You have 10 years for her needs.



Start goal-based investments. Separate plan for education and marriage.



Don’t mix both goals under one investment.



6. Use Mutual Funds to Grow Your Wealth

Choose diversified equity mutual funds for long-term goals.



These give better returns than savings or traditional policies.



SIP (Systematic Investment Plan) is a good method.



Start SIPs for both daughters in different folios.



Equity mutual funds suit education and marriage timelines.



7. Choose Regular Plans Over Direct Plans

Regular plans come with the help of trained experts.



A Certified Financial Planner with an MFD license helps guide you better.



Direct plans don’t give guidance or personal support.



Many investors make poor decisions with direct funds.



8. Avoid Index Funds for These Goals

Index funds follow the market, good or bad.



They can fall as much as the market.



They don’t try to beat the market returns.



For children’s future, you need stable and active management.



Actively managed funds handle risk better over long periods.



9. Assess the Value of the Plot

You already own a plot worth Rs. 50 lakh.



Do not consider more investment in land or property.



Real estate is not liquid. It cannot help during emergencies.



Hold the plot but do not add more to real estate.



If needed in future, you can sell or use it smartly.



10. Plan for Daughters’ Higher Education

Higher education costs are rising fast in India and abroad.



A mix of SIP in mutual funds and recurring deposits helps.



Create two separate mutual fund goals, one for each daughter.



Start with SIPs and increase every year by 10%.



11. Plan for Their Marriages Later

After education, marriage planning is your next step.



Avoid investing in gold chits or jewellery now.



Gold prices are unpredictable.



Use long-term mutual funds instead.



Shift investments to low-risk options 2-3 years before the goal.



12. Don’t Mix Investment with Insurance

If you have ULIPs or endowment policies, review them.



Most give low returns and high charges.



They lock your money for many years.



Pure investment should stay separate from life cover.



Only term plan is good for insurance needs.



13. Retirement Should Not Be Ignored

Retirement is your longest financial goal.



Don’t use PPF or savings for daughters’ expenses.



Your income stops in retirement. But expenses will continue.



Use a part of surplus to invest for retirement too.



14. Tax Planning with Investments

Use mutual funds that qualify under 80C only if they fit your goals.



PPF, term insurance, and ELSS can help save tax.



Don’t invest just to save tax. Purpose matters more.



15. Revisit Your Financial Plan Every Year

Every year, review your goals and investments.



Goals change with time and family needs.



Adjust your SIPs and increase your savings each year.



Don’t stop SIPs if the market falls. Stay invested.



16. Include Your Spouse in Financial Decisions

Share your financial plan with your spouse.



Let her know the goals, investments, and insurance details.



Keep documents safely with access to family.



This builds joint responsibility and awareness.



17. Maintain Nomination and Will

Nominate your spouse or daughters in all investments.



Make a basic Will to avoid future legal issues.



Mention plot, savings, PPF, and mutual funds clearly.



A Will ensures smooth transfer of wealth to your family.



18. Use the Right Mix of Risk and Safety

For long-term goals, equity gives good growth.



For short-term needs, use safer options.



Balance your portfolio every 2-3 years.



Take help from a Certified Financial Planner for a full plan.



19. Teach Your Daughters Financial Habits

Slowly teach them about saving and spending.



Make them part of small budget talks.



Teach them how money works early in life.



This builds their future independence.



20. Keep Financial Simplicity in Mind

Use fewer investment products.



Track them regularly.



Avoid complicated insurance or schemes.



Simpler portfolio is easier to manage.



Finally

You are on the right path with savings, PPF, and plot.



Now, shift focus to mutual fund SIPs for future goals.



Take proper life and health cover without delay.



Do not mix insurance and investment.



Prioritise education goals before marriage goals.



Review and act every year. Adjust as per your income and needs.



Keep investments simple, goals separate, and planning disciplined.



Financial discipline today will gift freedom to your daughters tomorrow.



Best Regards,

K. Ramalingam, MBA, CFP,

Chief Financial Planner,

www.holisticinvestment.in
https://www.youtube.com/@HolisticInvestment

...Read more

Ramalingam

Ramalingam Kalirajan  |8454 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on May 16, 2025

Asked by Anonymous - May 16, 2025
Money
I am a 47 single mother working as a nurse with a salary of 50,000 per month. My 11 year old daughter goes to an international school and stays in Kerala with my mother. I have Rs 1 lakh in a fixed deposit but no ongoing SIP or emergency fund. My monthly expenses including hostel rent is up to 20,000. I send 25,000 home every month. I want to consider taking up a temporary home nurse job for extra income. How can I start investing in SIPs and balance this with my girl's school fees and other household expenses?
Ans: Current Financial Situation

Your monthly income is Rs 50,000.



You send Rs 25,000 home monthly.



Rs 20,000 goes towards your own living and daughter's hostel.



You have Rs 1 lakh in fixed deposit.



No emergency fund or SIPs in place currently.



You are willing to work extra as a temporary home nurse.



Appreciating Your Commitment

Taking care of your daughter and mother is very responsible.



You are also exploring new income sources. That shows good planning intent.



Wanting to start SIPs is a wise first step towards future security.



Understanding Your Income and Expenses

Current fixed expenses are Rs 45,000.



This leaves Rs 5,000 buffer per month for savings.



You need to create an emergency fund first before starting SIPs.



Emergency fund should be at least Rs 1.5 lakh.



It can cover any unexpected job loss or medical event.



Building Your Emergency Fund First

Keep your Rs 1 lakh FD as it is.



Save additional Rs 5,000 per month into a savings account.



Continue this till you reach Rs 1.5 lakh in savings.



It will take around 10 months to build this buffer.



Once done, you can start SIPs confidently.



Planning for SIPs Gradually

Start SIPs only after emergency fund is in place.



You can begin with Rs 1,000 per month.



Increase SIP slowly every six months.



Aim to reach Rs 5,000 SIP monthly in two years.



Prefer regular plans through a Certified Financial Planner.



Avoid Index and Direct Mutual Funds

Index funds do not beat inflation consistently.



They copy market average. No active management is done.



Direct plans don’t provide guidance or support.



Regular plans through CFP and MFD give personalised help.



A CFP will suggest right funds based on your needs.



Exploring Temporary Job for Extra Income

Your plan to work as part-time nurse is very good.



Extra income of even Rs 5,000 monthly helps a lot.



You can use that income for SIP and insurance.



Keep this side income stable for at least 6 months.



Then you can increase your SIPs to Rs 3,000 monthly.



Consider Essential Insurance

You must have a basic health insurance cover.



A plan of Rs 5 lakh cover is a must.



This protects you from large medical costs.



Premium will be around Rs 500-800 monthly.



Start with this once emergency fund is done.



Future Planning for Your Daughter

Your daughter is in international school. That’s a high-cost choice.



Education inflation is around 10% yearly.



Create a goal-based SIP plan for her higher studies.



Even Rs 2,000 per month now helps in 7-8 years.



Discuss this with a Certified Financial Planner.



Don’t Depend Only on Fixed Deposits

FD interest is taxable and low return.



SIP in equity mutual funds beat inflation over long term.



Start slow but stay regular.



Equity helps build wealth for future goals.



FD can be used only for safety and emergency use.



Plan Retirement Carefully

You are 47. Retirement is 13 years away.



Start planning retirement corpus via SIPs.



Even Rs 2,000 monthly can build a base in 10 years.



Increase it once your income improves.



Speak to a CFP for a full retirement plan.



Finally

First step is completing emergency fund.



Next step is starting SIPs slowly.



Take term insurance and health cover also.



Use side income fully for financial goals.



Work with a Certified Financial Planner for proper guidance.



Keep growing your savings month by month.



Small but steady steps create financial independence.



Best Regards,

K. Ramalingam, MBA, CFP,

Chief Financial Planner,

www.holisticinvestment.in
https://www.youtube.com/@HolisticInvestment

...Read more

Nayagam P

Nayagam P P  |4535 Answers  |Ask -

Career Counsellor - Answered on May 16, 2025

Career
Sir, My son got 81.65percentile in JEE mains , with category SC rank 15531 and CRL of 272000 , please suggest whether he will get any NIT,IIITs in electronic or electrical branch
Ans: Vijayakumar Sir, Providing precise admission chances for each student can be challenging. Some reputed educational websites offer ‘College Predictor’ tools where you can check possible college options based on your percentile, category, and preferences. However, for a more accurate understanding, here’s a simple yet effective 9-step method using JoSAA’s past-year opening and closing ranks. This approach gives you a fair estimate (though not 100% exact) of your admission chances based on the previous year’s data.

Step-by-Step Guide to Check Your Admission Chances Using JoSAA Data
Step 1: Collect Your Son's Key Details
Before starting, note down the following details:

Your JEE Main percentile
Your Son's category (General-Open, SC, ST, OBC-NCL, EWS, PwD categories)
Preferred institute types (NIT, IIIT, GFTI)
Preferred locations (or if he is open to any location in India)
List of at least 3 preferred academic programs (branches) as backups (instead of relying on just one option)
Step 2: Access JoSAA’s Official Opening & Closing Ranks
Go to Google and type: JoSAA Opening & Closing Ranks 2024
Click on the first search result (official JoSAA website).
You will land directly on JoSAA’s portal, where you can enter your details to check past-year cutoffs.
Step 3: Select the Round Number
JoSAA conducts five rounds of counseling.
For a safer estimate, choose Round 4, as most admissions are settled by this round.
Step 4: Choose the Institute Type
Select NIT, IIIT, or GFTI, depending on your preference.
If he is open to all types of institutes, check them one by one instead of selecting all at once.
Step 5: Select the Institute Name (Based on Location)
It is recommended to check institutes one by one, based on your preferred locations.
Avoid selecting ‘ALL’ at once, as it may create confusion.
Step 6: Select Your Preferred Academic Program (Branch)
Enter the branches your son is interested in, one at a time, in your preferred order.
Step 7: Submit and Analyze Results
After selecting the relevant details, click the ‘SUBMIT’ button.
The system will display Opening & Closing Ranks of the selected institute and branch for different categories.
Step 8: Note Down the Opening & Closing Ranks
Maintain a notebook or diary to record the Opening & Closing Ranks for each institute and branch you are interested in.
This will serve as a quick reference during JoSAA counseling.
Step 9: Adjust Your Expectations on a Safer Side
Since Opening & Closing Ranks fluctuate slightly each year, always adjust the numbers for safety.
Example Calculation:
If the Opening & Closing Ranks for NIT Delhi | Mechanical Engineering | OPEN Category show 8622 & 26186 (for Home State), consider adjusting them to 8300 & 23000 (on a safer side).
If the Female Category rank is 34334 & 36212, adjust it to 31000 & 33000.
Follow this approach for Other State candidates and different categories.
Pro Tip: Adjust your son's expected rank slightly lower than the previous year's cutoffs for realistic expectations during JoSAA counseling.

Can This Method Be Used for JEE April & JEE Advanced?
Yes! You can repeat the same steps after your April JEE Main results to refine your admission possibilities.
You can also follow a similar process for JEE Advanced cutoffs when applying for IITs.

I also suggest you have 3-4 more backups instead of relying only on JEE/JoSAA.

Want to Learn More About JoSAA Counseling?
If you want detailed insights on JoSAA counseling, engineering entrance exams, preparation strategies, and engineering career options, check out EduJob360’s 180+ YouTube videos on this topic!

Hope this guide helps! All the best for your son's admissions!

Follow RediffGURUS to Know more on 'Careers | Health | Money | Relationships'.

...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.

Close  

You haven't logged in yet. To ask a question, Please Log in below
Login

A verification OTP will be sent to this
Mobile Number / Email

Enter OTP
A 6 digit code has been sent to

Resend OTP in120seconds

Dear User, You have not registered yet. Please register by filling the fields below to get expert answers from our Gurus
Sign up

By signing up, you agree to our
Terms & Conditions and Privacy Policy

Already have an account?

Enter OTP
A 6 digit code has been sent to Mobile

Resend OTP in120seconds

x