Hi doctor, I am having severe trapezius pain..left more than right shoulder. Took many painkillers and physio has aggravated the pain in neck also. Right now taking mobizox and stopped physio. MRI has revealed light tendinosis and all docs saying surgery not required. My vitamin d is fine and b 12 is just about ok. I had a spike in tsh levels for thyroid. Doing walking and drinking water daily, but shoulder pain not reducing from 3 months. I can’t exercise due to pain. Please help.

Ans: Hello;

If you have a known illness of the heart unfortunately hardly any general insurance company will come forward to cover you despite other positives.

Because insurance works on probability and when they reckon that probability of claim, in future based on current information, may be high they refuse to underwrite such risks.

Since you are an employee of a public sector company, I suppose your employer may have some group mediclaim plan or coverage for the retirees as well.

Take that coverage even if you have to pay and undergo a waiting period.

Alternatively you may earmark some fixed sum 8-10 L as medical contingency fund for yourself.

For your spouse you should opt for a minimum 25 L healthcare cover from companies such as HDFC Ergo, ICICI Lombard, Bajaj Allianz, SBI General etc which do not entirely depend on healthcare insurance as the only business segment.

Best wishes;

Ans: Hello;

You will need a corpus of 8 Cr.

You may buy an immediate annuity from a life insurance company for your corpus which may yield you a monthly payout of 2.8 L(post tax).
A 6% annuity rate is considered. Some companies may offer higher annuity rates.

You may select option of joint annuity for life for yourself and your spouse with return of purchase price to your nominee.

Select a big life insurer with good solvency ratio and better credibility.

Best wishes;

Ans: Hello.
The answer is Yes. You can appear JEE (Main) in your preferred language. The list of languages in which you can appear for JEE is available in the brochure of JEE (Main) and the official website of NTA. For your information, you can appear JEE (Main) by choosing any of the following languages: Assamese, Bengali, Kannada, Malayalam, Marathi, Odia, Punjabi, Tamil, Telugu, Urdu in addition to Hindi English, and Gujarati.

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Ans: Hello;

General Comments:
People nowadays get carried away by FIRE(Financial independence retire early) fads on social media and go by thumb rules provided on SM for retirement corpus calculation.

Please consult a certified financial planner or a retirement advisor who can guide you on these matters professionally.

Specific comments:
Do your math. If you retire at 45 you have 35 years in retirement considering life expectancy of 80. What corpus would you need to fund:

1. Your inflation indexed retirement income
2. Impact on retirement income due to home loan EMI.
3. Separate provision for higher education of son

If doing 3% SWP can meet your monthly income requirements post-tax it is okay but If you are increasing SWP rate beyond 3% you run the risk of eating into your corpus during periods of flat or negative returns by your fund.

Also pure equity funds for SWP in retirement are a strict NO.

Only hybrid mutual funds such as equity savings or conservative hybrid funds may be suitable with moderate risk.

If your regular expenses are 50 K today they will be 90 K in 10 years, 1.6 L in 20 years time considering modest 6% inflation.

Your 60 K monthly sip if continued for 5 years may yield you a corpus of 50 L assuming modest return of 12% from pure equity mutual funds which could be earmarked for higher education of your son.

Do you have any EPF/NPS corpus?

Please confirm.

Thanks;

Ans: Hello;

If your time horizon for investment is long term (7 yr+) then you may ignore these notional losses and stay invested and continue your sips.

If your target is near or dip in investment value is affecting your health then you should exit and invest in other investments avenues.

Happy Investing;

Ans: You purchased the Kotak Premier Endowment Plan in 2020. This plan combines insurance with savings. The sum assured is Rs. 2.82 lakhs, and the annual premium is Rs. 32,000.

You’ve already paid Rs. 1.28 lakhs over four years. The premium payment term is 10 years, and the maturity term is 17 years. The surrender value is currently Rs. 82,000, meaning a loss of Rs. 46,000.

Now, you are contemplating whether to continue with this plan or surrender and invest elsewhere.

Evaluating Endowment Plans
Endowment plans typically offer low returns compared to other investment options.
Most endowment plans have a return rate of 4-6%.
The main benefit is insurance coverage, which is often inadequate.
By continuing with this plan, your money may not grow significantly. It also locks your funds for a long period.

Advantages of Surrendering
By surrendering, you free up Rs. 82,000.
You stop further premium payments, avoiding additional allocation to a low-return product.
You can reallocate the funds to better-performing investment options.
Drawbacks of Surrendering
You lose Rs. 46,000 from the premiums paid so far.
Early surrender often results in reduced returns.
The plan’s long-term guaranteed returns will no longer apply.
Alternative Investments
If you surrender, the next step is reinvesting wisely.

Equity Mutual Funds: Offers long-term wealth creation. These funds outperform endowment plans in the long run.
Small-Cap Funds: For higher risk appetite, this can provide superior returns.
Debt Mutual Funds: Suitable for lower risk tolerance. Ideal for stable and predictable returns.
PPF (Public Provident Fund): A safe and tax-efficient option for long-term goals.
Benefits of Actively Managed Mutual Funds
Active funds often outperform benchmarks.
Professional fund managers actively monitor market opportunities.
You benefit from diversification and risk management.
Avoid direct funds unless you’re a seasoned investor. A Certified Financial Planner (CFP) or mutual fund distributor ensures better guidance.

Why Insurance Should Be Separate
Insurance-cum-investment plans like endowment are not ideal.
Term insurance offers high coverage at low costs.
Use the money saved from premiums for pure investments.
Tax Implications
Surrendering may have tax implications. Check if your premiums qualified for Section 80C.
New gains from investments may attract taxation. For equity mutual funds, LTCG above Rs. 1.25 lakh is taxed at 12.5%.
360-Degree Financial Assessment
Financial Goals: Align investments with your goals (e.g., retirement, children’s education).
Risk Appetite: Choose investments matching your comfort level with risk.
Emergency Fund: Maintain liquid funds to handle financial emergencies.
Debt Management: Clear high-interest liabilities before investing.
Portfolio Review: Balance investments between equity, debt, and fixed income.
Final Insights
The decision depends on your long-term goals. Surrendering is better if the plan does not align with your financial strategy. Reallocate wisely to maximize returns. Consult a Certified Financial Planner for personalized advice.

Best Regards,

K. Ramalingam, MBA, CFP,

Chief Financial Planner,
www.holisticinvestment.in
https://www.youtube.com/@HolisticInvestment

Ans: Hello;

You may submit a joint declaration with your employer and supporting documents to the Regional PF Commissioner for your name correction as per PAN. Take proper acknowledgement.

Follow up regularly with the concerned authorities to ensure your request is being processed timely.

The EPFO usually takes 15–30 days to process a name change request. The processing time may vary based on the efficiency of the regional EPF office.

Name has to be strictly same as per your PAN, Aadhar, bank and even spelling change is flagged as per EPF system.

Best wishes;

Ans: Hello Aashish.
It is not mandatory to do PG right now, but it is recommended that you do so if you wish to boost your career in Clinical Research and want stability in your job. Best of luck with your future.

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Ans: Hello AK.
(1) You can appear for JEE (Main) Paper-2 i.e. B.Arch.
(2) There will be no problem in JOSAA counseling.
(3) As you are appearing in the subjects 'mathematics" this year, then please fill out as "Appearing".
(4) There will be no issue @ SPA's and NIT's admission if you score the required percentile in JEE (Main)
Best of luck to your upcoming future.

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Thanks.

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