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What's the Average Cost of Invisalign Treatment for a 16-Year-Old?

Dr Shyam

Dr Shyam Jamalabad  |74 Answers  |Ask -

Dentist - Answered on Jun 11, 2024

Dr Shyam Jamalabad holds a bachelor’s degree in dental surgery from Government Dental College and Hospital, St George Hospital, Mumbai. He has been practising independently at his clinic in Mumbai since 1983.His patients range from celebrities to slum dwellers.... more
Asked by Anonymous - Jun 11, 2024Hindi
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Hi.. My daughter (aged 16) has been recommended invisalign treatment to correct her teeth alignment. What is the average cost of this treatment ?

Ans: Hello
The cost of treatment ranges from ?150000 to ?350000. The exact estimate can be given by a trained dental professional after a careful clinical evaluation. Please note that "Invisalign" is a brand. There are other brands of aligners and the cost of treatment may vary across brands
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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Ramalingam

Ramalingam Kalirajan  |7002 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on Jul 02, 2024

Asked by Anonymous - Jun 20, 2024Hindi
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Hi , my daughter wands to be a surgeon gynaecologist .currently I can commit only 30k a month towards mf and she’s 14. I have already started since 2 years but what should be my minimum monthly commitment for her to reach her goal ?
Ans: let's dive into this with a structured plan. I'll cover everything you need to know to ensure your daughter achieves her goal of becoming a surgeon gynaecologist, even with a Rs 30,000 monthly investment. Here's a thorough guide to help you understand how to maximize your investments and plan effectively.

Understanding the Goal
First, it's wonderful to hear about your daughter's ambition. Becoming a surgeon gynaecologist is a noble and highly rewarding career. It requires extensive education and training. Given she's 14, you have about four years until she enters college, and then several years of medical education after that. Let's outline the financial planning needed to support this journey.

The Cost of Medical Education
Medical education in India can be quite expensive. The costs can range significantly depending on whether she attends a government or private college.

Undergraduate Medical Education (MBBS): The cost can range from Rs 10 lakh to Rs 1 crore for the entire course. Government colleges are cheaper, while private institutions are on the higher end.

Postgraduate Education (MD/MS): This can add another Rs 20 lakh to Rs 50 lakh, depending on the specialization and the institution.

Additional Costs: This includes entrance exam preparations, books, equipment, and living expenses.

Investment Strategy: Mutual Funds
Mutual funds are an excellent way to grow your savings. They provide diversification, professional management, and the potential for high returns. Here’s how to approach investing in mutual funds to meet your financial goals.

Types of Mutual Funds
Equity Mutual Funds: These invest in stocks and have the potential for high returns. They are suitable for long-term goals, such as your daughter's education.

Debt Mutual Funds: These invest in fixed-income securities like bonds. They are safer but offer lower returns compared to equity funds. They can be used for short-term goals or to balance your portfolio.

Hybrid Mutual Funds: These funds invest in both equities and debt, providing a balanced approach. They offer moderate returns with reduced risk.

Advantages of Mutual Funds
Diversification: Mutual funds invest in a variety of assets, reducing the risk associated with investing in a single asset.

Professional Management: Fund managers with expertise in the financial market manage mutual funds.

Compounding: Reinvesting your returns allows your money to grow exponentially over time.

Liquidity: Mutual funds are generally liquid, meaning you can easily convert them to cash if needed.

Assessing Your Current Investment
You've already been investing Rs 30,000 per month for the past two years. That’s a great start! Let’s assess how this contributes to your goal.

Power of Compounding
The key benefit of mutual funds is the power of compounding. The earlier you start, the more your money grows. Since you have started early, your investments will benefit significantly from compounding.

Regular Review and Adjustment
It's crucial to review your investment portfolio regularly. Make adjustments based on market conditions, your financial goals, and changes in your personal circumstances.

Estimating the Required Investment
To support your daughter's education, you'll need to ensure that your investments grow adequately. Here’s how you can estimate the required monthly investment:

Future Education Costs: Estimate the future cost of education considering inflation. Education costs tend to rise by about 10-12% annually.

Current Savings and Investments: Assess your current savings, including your mutual fund investments and any other savings.

Expected Returns: Estimate the returns on your mutual fund investments. Equity mutual funds typically offer returns of 12-15% per annum over the long term.

Shortfall and Monthly Investment: Calculate the shortfall between your current savings and the future education costs. Based on this, determine the additional monthly investment required.

Risk Management
Investing in mutual funds involves some risk. Here’s how to manage it effectively:

Diversify Your Investments: Don't put all your money in one type of fund. Spread it across equity, debt, and hybrid funds.

Regular Monitoring: Keep an eye on the performance of your funds. Make changes if a fund consistently underperforms.

Professional Advice: Consult a Certified Financial Planner to help you make informed decisions.

SIPs: Systematic Investment Plans
Systematic Investment Plans (SIPs) are a great way to invest in mutual funds. They allow you to invest a fixed amount regularly, making it easier to manage your finances.

Consistency: SIPs encourage regular investment, which is crucial for long-term wealth creation.

Rupee Cost Averaging: SIPs average out the cost of your investments by buying more units when prices are low and fewer units when prices are high.

Discipline: SIPs instill a disciplined approach to investing, helping you stay committed to your financial goals.

Active vs Passive Funds
Active funds are managed by professionals who make decisions about where to invest the fund's money. They aim to outperform the market.

Benefits of Active Funds: They have the potential for higher returns compared to index funds. Fund managers actively select stocks that they believe will perform well.

Disadvantages of Index Funds: Index funds simply mimic a market index. They do not have the potential to outperform the market and might not provide the best returns for long-term goals.

Importance of Professional Guidance
While you can manage your investments on your own, seeking advice from a Certified Financial Planner can be very beneficial.

Expertise: Certified Financial Planners have the expertise to guide you through complex financial decisions.

Tailored Advice: They can provide personalized advice based on your financial situation and goals.

Holistic Planning: They look at your overall financial picture, including insurance, retirement planning, and tax planning.

Reviewing Your Insurance
If you hold LIC, ULIP, or investment-cum-insurance policies, consider their effectiveness.

Surrender and Reinvest: If these policies are not performing well, it may be wise to surrender them and reinvest the funds in mutual funds.

Insurance and Investment Separation: It's often better to keep insurance and investment separate. Term insurance provides adequate coverage, while mutual funds offer better returns on investments.

Final Insights
Planning for your daughter's education is a significant responsibility. By starting early and investing wisely, you can ensure she has the financial support she needs to achieve her dreams.

Start Early: The earlier you start, the better. Compounding works best over the long term.

Stay Consistent: Regular investments through SIPs help in building a substantial corpus over time.

Diversify: Spread your investments across different types of mutual funds to manage risk.

Seek Professional Help: A Certified Financial Planner can provide valuable guidance and help you make informed decisions.

Review Regularly: Keep an eye on your investments and make adjustments as needed.

With careful planning and disciplined investing, you can ensure a bright future for your daughter. Remember, every small step you take today will contribute to her success tomorrow.

Best Regards,

K. Ramalingam, MBA, CFP

Chief Financial Planner,

www.holisticinvestment.in

..Read more

Latest Questions
Nripen

Nripen Bhatt  |6 Answers  |Ask -

Start-Up Expert - Answered on Nov 10, 2024

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Career
Sir, I have got your contact from RediffGurus. I approach you to guide me in my present situation. I have more than 30 years experience in export sales and also import procurement. Have been successful in developing new export markets and also importing quality material from abroad at competitive prices. All these activities have been under employment only, Where employers earned a lot, and brought me only wah wah, shabash, but no financial gains. Now I am retired, but still quite active mentally and physically. I have an idea which if backed with right financial background, can be a money spinner . The idea is to deal in metal import export trading. I can source international standard quality copper, aluminium, stainless steel etc., from China and other countries at 20 to 30% below market price. These can be sold to hungry Indian buyers here. I can assure, subject to investment, a profit of approx. Rs. 5 to 10 crore in first year itself. And of course a huge, unlimited market exists for these metals in vast Africa, where I have travelled many times and understand how business is conducted there . Now may I request you to tell me if it is possible to get a silent investor. For security purpose, I am ready to conduct entire business in investor's or his company's name, provided my interests are safe. Wahaj Nuri.
Ans: Dear Wahaj,

Your proposition is definitely sounding interesting, but as you have laid your idea and thoughts randomly here, it is not translating into a viable business. Have you prepared a comprehensive Business Plan? Have you worked on Business Frame work?
I would suggest to complete your offerings on papers, write/overwrite/correct/cut/revise and then bring a conclusive business proposition which none can refuse.
Regards

...Read more

Nripen

Nripen Bhatt  |6 Answers  |Ask -

Start-Up Expert - Answered on Nov 10, 2024

Asked by Anonymous - Nov 08, 2024Hindi
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Career
Hi Nripen Sir, I am started my own market research(Secondary Research) firm bootstrapped without team and working on it. I want to know how to do customer or client acquisition. I have 10 years of market research experience. I am sole person to handle this. Also, I want to know do i need investment for this type of firms.
Ans: Let me congratulate you first, it is an excellent initiative you have taken, there are several firms in Market Research but there is always a demand for a genuine data driven research firm.
Initially you do not need a big team, you can handle solo, and when you require first go for management undergraduates as interns.
If you work smart client acquisition and retention will be really easy and smooth you can go step by step:
Create a one-page professional website, keep your clients’ segment in view and develop the content accordingly. Define methodology and tools in such a way that potential clients should relate immediately with their requirements. Don’t write lengthy content. Be precise be crisp.
Use business email id only.
Get very smart stationary printed, letterheads over 100 GSM, nice envelops, attractive business cards etc.
Search the websites where startups are registered such as startup India, start in up, istart etc., you will find a lot of startups who are in Launch phase or in Growth Phase, both look for secondary market research.
Exporters can be your potential clients.
Tourist planners.
Medical startups.
You have huge market for your service, start from here and you may ask time to time for further steps.
All the best

...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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