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Vivek Lala  |251 Answers  |Ask -

Tax, MF Expert - Answered on May 02, 2024

Vivek Lala has been working as a tax planner since 2018. His expertise lies in making personalised tax budgets and tax forecasts for individuals. As a tax advisor, he takes pride in simplifying tax complications for his clients using simple, easy-to-understand language.
Lala cleared his chartered accountancy exam in 2018 and completed his articleship with Chaturvedi and Shah. ... more
Keerthi Question by Keerthi on May 01, 2024Hindi
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I'm 27 with monthly in-hand salary Rs.37,000 with an expenditure of Rs.15000 for family I'm confused on how to secure my future financially. Could you please suggest some mutual funds with low risk and high gains I can invest in or any other better investment options

Ans: Hello, the thumb rule as per me for long term investments should be 30% of gross salary to be financially independent in 15yrs from starting the investments.
As far as investment risk and returns go , no high return investment is low risk , risk is a point of view which differs from person to person, It is always a good idea to consult with a financial advisor in person.
Suggestion of funds :
small cap 30%
mid cap 30%
multi cap 30%
large and mid 10%
DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Users are advised to pursue the information provided by the rediffGURU only as a source of information to be as a point of reference and to rely on their own judgement when making a decision.
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Ramalingam

Ramalingam Kalirajan  |4625 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on May 09, 2024

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Hello Sir, I'm 35 years old and my monthly income is 30000. I'm married. My monthly expenses is around 23-26000. I want to make atleast 50lakhs by the time I reach 55. Kindly suggest which mutual fund I should go for?
Ans: It's commendable that you're planning for your financial future. Achieving a corpus of 50 lakhs by the time you reach 55 is a realistic goal with proper planning and disciplined investing. Given your income and expenses, investing in mutual funds can be an effective way to grow your wealth over the long term. Here's a suggested approach:
1. Start with SIPs: Since you have a monthly surplus after expenses, consider starting Systematic Investment Plans (SIPs) in mutual funds. SIPs allow you to invest a fixed amount regularly, enabling you to benefit from rupee cost averaging and the power of compounding.
2. Choose Equity Mutual Funds: Given your long-term investment horizon of 20 years, you can afford to invest predominantly in equity mutual funds, which have the potential to deliver higher returns over the long term compared to debt funds.
3. Diversify Your Portfolio: Opt for a diversified portfolio of equity mutual funds across different categories, such as large-cap, mid-cap, and multi-cap funds. Diversification helps spread risk and optimize returns. Choose funds with a proven track record of consistent performance and experienced fund managers.
4. Consider ELSS Funds: Equity Linked Savings Schemes (ELSS) offer the dual benefit of potential returns and tax savings under Section 80C of the Income Tax Act. Since you're aiming for long-term wealth creation, ELSS funds can be an excellent option to consider.
5. Regular Review: Monitor the performance of your mutual fund investments regularly and review your portfolio at least once a year. Make adjustments as needed based on changes in market conditions, fund performance, and your financial goals.
6. Seek Professional Advice: Consider consulting with a Certified Financial Planner who can provide personalized guidance tailored to your specific financial situation and goals. They can help you create a customized investment plan and navigate the mutual fund landscape effectively.
Remember, investing requires patience, discipline, and a long-term perspective. Stay focused on your goal of building a corpus of 50 lakhs by the time you reach 55, and with consistent investing and prudent decision-making, you can work towards achieving financial security and independence.
Best Regards,
K. Ramalingam, MBA, CFP,
Chief Financial Planner,
www.holisticinvestment.in

..Read more

Ramalingam

Ramalingam Kalirajan  |4625 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on May 20, 2024

Asked by Anonymous - May 13, 2024Hindi
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Hi. I'm 30years old with monthly salary of 60k. Having said, I have savings of 5L in hand and not had any investment so far in mutual fund. Having 2 child to take care with their education after 20 years. Need of advice on where to start in mutual fund. My risk appetite is moderate to high but don't know which fund to choose for long term investment. As well as I need of assured corpus of Rs.1 crore after 12 years to support my investment horizon along with my salary for rest of 8 years as I don't think my salary alone will be suffice to meet the investment journey. Also after 12 years need of an advice on how to get monthly income out of some portion of 1crore to manage family with it and save all my salary to mutual fund. I also want to know what will be the average return I will be getting based on your suggestion with all plannings as I said above after 20years
Ans: Your commitment to securing your family's future and achieving financial stability is commendable. Let's outline a strategic mutual fund investment plan tailored to your goals, risk appetite, and investment horizon.

Assessing Your Financial Goals and Risk Profile
At 30, with a moderate to high risk appetite, you're well-positioned to embark on a long-term investment journey. Your primary objectives include building a substantial corpus for your children's education in 20 years and securing a corpus of ?1 crore in 12 years for additional financial support.

Structuring Your Mutual Fund Portfolio
Given your investment horizon and risk tolerance, a diversified portfolio of equity and debt mutual funds is recommended. Equity funds offer growth potential, while debt funds provide stability and income generation. Here's a suggested allocation:

Equity Funds: Allocate a significant portion of your investment, considering your moderate to high-risk appetite. Choose a mix of large-cap, mid-cap, and small-cap funds for diversification and potential returns.

Debt Funds: Allocate a portion of your portfolio to debt funds to mitigate risk and generate stable returns. Opt for a combination of short-term, medium-term, and long-term debt funds based on your risk preference.

Planning for Future Income Streams
After 12 years, when you aim to secure a corpus of ?1 crore, consider investing a portion of this amount in a combination of dividend-paying mutual funds and systematic withdrawal plans (SWPs). This strategy will provide you with a regular monthly income stream while preserving the principal amount for long-term growth.

Estimating Average Returns
While it's challenging to predict exact returns, a well-diversified mutual fund portfolio targeting a moderate to high-risk profile can potentially generate average returns ranging from 10% to 12% annually over the long term. However, returns may vary depending on market conditions and fund performance.

Emphasizing Discipline and Review
Consistency and discipline are key to achieving your financial goals. Review your portfolio regularly, monitor fund performance, and make adjustments as needed to stay aligned with your objectives. Consider consulting with a Certified Financial Planner to fine-tune your strategy and navigate market fluctuations effectively.

Conclusion
In conclusion, a strategic mutual fund investment plan tailored to your financial goals, risk profile, and investment horizon can pave the way for long-term wealth creation and financial security. By diversifying your portfolio, planning for future income streams, and maintaining discipline, you can work towards achieving your objectives and securing your family's future.

Best Regards,

K. Ramalingam, MBA, CFP,

Chief Financial Planner,

www.holisticinvestment.in

..Read more

Ramalingam

Ramalingam Kalirajan  |4625 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on Jun 04, 2024

Asked by Anonymous - May 20, 2024Hindi
Money
Hi sir, I am 39 year old. Earning 1.8 l per month. Invested in stocks upto 1 lakh.Invested in gold for 2lakhs. Invested in ppf upto 13 lakhs and continuing it, investing in SSY upto 1lakhs from 2019 for girl child.Invested in NPS upto 1 lakh. Having term insurance for 2cr paying 3800rs per month. Having endowment policy for next 21 years. Having medical insurance upto 30 lakh sum assured having premium about 70k per year for myself, dependant and a kid. Having medical insurance sum assured upto 5 lakh each for parents having premium of 42k per year. Having a car loan of 20lakhs for next 4 years, having a personal loan of upto 4 lakhs and will end up in December. Planning for retirement corpus of 5 cr in next 15 years, and planning for child higher education for 12 years with 2 cr and marriage in next 20 years for another 2cr. Planning to buy plot in 3 years worth 75 lakhs,Am I going in right financial path? Which mutual fund needs to be considered to achieve these goal?
Ans: Evaluating Your Current Financial Situation
You are 39 years old with a monthly income of Rs. 1.8 lakhs.

Your investments include Rs. 1 lakh in stocks, Rs. 2 lakhs in gold, and Rs. 13 lakhs in PPF.

You also invest in SSY for your daughter, with Rs. 1 lakh since 2019, and Rs. 1 lakh in NPS.

You have a term insurance cover of Rs. 2 crores and an endowment policy.

Your medical insurance covers you, your dependents, and your parents.

You have a car loan of Rs. 20 lakhs and a personal loan of Rs. 4 lakhs ending in December.

Setting Financial Goals
Your financial goals include a retirement corpus of Rs. 5 crores in 15 years.

You plan to fund your child's higher education with Rs. 2 crores in 12 years.

You also plan for your child's marriage with Rs. 2 crores in 20 years.

Additionally, you plan to buy a plot worth Rs. 75 lakhs in 3 years.

Assessing Current Investments
Your current investments are diversified but may need adjustments to meet your goals.

The PPF and SSY investments are good for secure, long-term growth.

Stock and gold investments add diversity but require careful monitoring.

Evaluating Insurance Coverage
You have substantial insurance coverage with term and medical policies.

Ensure the term insurance adequately covers your family's financial needs.

Your medical insurance provides good coverage, but review the premiums regularly.

Managing Debt
You have a car loan of Rs. 20 lakhs and a personal loan ending soon.

Prioritize paying off high-interest loans quickly to free up cash flow.

Managing debt effectively is crucial for financial stability.

Retirement Planning
To achieve Rs. 5 crores in 15 years, invest in high-growth mutual funds.

Assume an average annual return of 12% for equity mutual funds.

You need to invest approximately Rs. 85,000 monthly in SIPs.

Child's Education Planning
For Rs. 2 crores in 12 years, focus on high-growth mutual funds.

Assuming a 12% annual return, invest around Rs. 55,000 monthly in SIPs.

Consider starting a dedicated fund for your child's education.

Child's Marriage Planning
For Rs. 2 crores in 20 years, invest in balanced mutual funds.

Assuming a 10% annual return, invest around Rs. 27,000 monthly in SIPs.

Longer investment duration allows for balanced funds to grow steadily.

Plot Purchase Planning
For buying a plot worth Rs. 75 lakhs in 3 years, consider short-term debt mutual funds.

These funds offer moderate returns with lower risk compared to equities.

Invest around Rs. 2 lakhs monthly in short-term debt funds.

Choosing Mutual Funds
Select a mix of equity, balanced, and debt mutual funds for diversification.

Equity funds provide high returns for long-term goals.

Balanced funds offer moderate growth with less risk for medium-term goals.

Debt funds ensure stability for short-term goals.

Risk Management
Diversify investments to manage risk effectively.

Review your portfolio regularly to adjust based on market conditions.

Consult a Certified Financial Planner (CFP) for personalized risk management strategies.

Tax Planning
Invest in tax-saving mutual funds to reduce your tax liability.

Utilize Section 80C deductions for investments in PPF, SSY, and ELSS funds.

Efficient tax planning enhances overall returns.

Regular Review and Adjustment
Monitor your investments regularly to ensure they align with your goals.

Adjust your SIP amounts and fund selections based on performance.

Stay informed about market trends and economic changes.

Emergency Fund Consideration
Maintain an emergency fund for unforeseen expenses.

An emergency fund provides financial security and peace of mind.

Ensure it is easily accessible and separate from your investment portfolio.

Consulting a Certified Financial Planner
A CFP can help create a detailed investment strategy.

They provide personalized advice based on your financial situation.

A CFP can guide you in selecting the right mutual funds and adjusting your portfolio.

Avoiding Common Investment Mistakes
Avoid investing in quick-rich schemes, as they are risky and often lead to losses.

Stick to disciplined investing through SIPs for long-term wealth creation.

Do not make impulsive decisions based on short-term market fluctuations.

Benefits of Long-Term Investing
Long-term investing allows your money to grow through compounding.

It helps overcome short-term market volatility.

Stay invested for the long term to achieve your financial goals.

Monitoring Market Conditions
Stay informed about market trends and economic conditions.

However, do not let short-term market movements dictate your investment decisions.

Focus on your long-term investment strategy.

Conclusion
Your current financial path is strong, but adjustments can help you reach your goals.

Invest Rs. 85,000 monthly in equity mutual funds for retirement.

Invest Rs. 55,000 monthly for child's education and Rs. 27,000 for marriage in SIPs.

Consider Rs. 2 lakhs monthly in short-term debt funds for plot purchase.

Consult a CFP for personalized advice and regular portfolio review.

Best Regards,

K. Ramalingam, MBA, CFP,

Chief Financial Planner,

www.holisticinvestment.in

..Read more

Ramalingam

Ramalingam Kalirajan  |4625 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on Jun 06, 2024

Asked by Anonymous - Jun 06, 2024Hindi
Money
I am 26 years old. Right now my salary is 21000/month. My total expenses is around 9~10K per month. So i need an help about investment. I don't have knowledge about MFs so can u tell me how to invest in it or can you suggest me good mutual funds??
Ans: Investing in mutual funds is a great way to grow your wealth over time. At 26 years old, you have a significant advantage: time. Starting early allows you to benefit from compounding returns. Let's explore how you can start investing in mutual funds and suggest some general strategies.

Understanding Mutual Funds
What Are Mutual Funds?
Mutual funds pool money from multiple investors to invest in various securities like stocks, bonds, and other assets. Professional fund managers manage these funds, aiming to achieve the fund's investment objectives.

Types of Mutual Funds
Equity Funds: Invest in stocks, aiming for high growth. Suitable for long-term goals.
Debt Funds: Invest in bonds and fixed income securities. These are less risky and provide steady returns.
Hybrid Funds: Combine equity and debt investments, offering a balanced approach.
Index Funds: Track a specific market index. Less actively managed and often have lower fees.
Steps to Start Investing in Mutual Funds
Assess Your Financial Situation
Your monthly salary is Rs 21,000, with expenses around Rs 9,000 to Rs 10,000. This allows you to save Rs 11,000 to Rs 12,000 per month. It's crucial to utilize these savings efficiently to build a robust financial future.

Define Your Financial Goals
Identify what you want to achieve with your investments. Common goals include:

Emergency Fund: Save for unexpected expenses.
Short-term Goals: Save for travel or a gadget.
Long-term Goals: Save for a home, retirement, or children's education.
Risk Tolerance
Understand your risk tolerance. At a young age, you can afford to take higher risks for potentially higher returns. However, it’s important to balance this with your comfort level. This ensures you don't panic during market downturns and stay committed to your investment plan.

Choose the Right Mutual Funds
Based on your goals and risk tolerance, you can choose different types of funds:

For Long-term Goals (5+ years): Equity funds and aggressive hybrid funds.
For Medium-term Goals (3-5 years): Balanced hybrid funds and conservative equity funds.
For Short-term Goals (1-3 years): Debt funds and liquid funds.
How to Invest in Mutual Funds
Through Asset Management Companies (AMCs)
Visit the websites of mutual fund companies (AMCs) to invest directly. This approach offers lower expense ratios since there are no intermediaries. However, it requires you to have some knowledge about mutual funds and the discipline to manage your investments.

Through Online Platforms
Online investment platforms and apps provide a user-friendly interface to invest in mutual funds. These platforms offer tools to track and manage your investments, making it easier for beginners to get started. However, be aware of any additional fees they might charge.

Through Mutual Fund Distributors (MFDs)
Consulting with a Mutual Fund Distributor (MFD) ensures you get professional advice tailored to your financial situation and goals. They can guide you in choosing the right funds, managing your portfolio, and making adjustments as needed. MFDs are well-versed in the market and can provide valuable insights, helping you avoid common pitfalls and optimize your investment strategy.

Investment Strategies
Systematic Investment Plan (SIP)
A SIP allows you to invest a fixed amount regularly (monthly or quarterly). This approach helps in averaging out the purchase cost and instills disciplined investing. SIPs are particularly beneficial for young investors with a steady income, as they automate the investment process and reduce the impact of market volatility.

Lump Sum Investment
Investing a large sum of money at once is suitable when you have a substantial amount saved. It works well in a bullish market but carries higher risks. Lump sum investments require a good understanding of market conditions and timing, which can be challenging for beginners.

Diversification
Diversify your investments across different types of funds and sectors. This strategy reduces risk and increases the potential for returns. By spreading your investments, you protect your portfolio from the adverse performance of a single asset class or sector.

Monitoring and Reviewing Your Investments
Regular Reviews
Review your portfolio regularly (at least once a year). Ensure it aligns with your financial goals and risk tolerance. Regular reviews help you stay on track and make necessary adjustments based on market performance and changes in your financial situation.

Rebalancing
Adjust your portfolio periodically to maintain the desired asset allocation. Rebalancing ensures you are not overly exposed to any one type of asset, helping you manage risk and optimize returns. This process involves selling some assets and buying others to maintain your target allocation.

Tax Implications
Tax on Equity Funds
Long-term capital gains (LTCG) from equity funds (held for more than one year) are taxed at 10% if they exceed Rs 1 lakh in a financial year. Short-term capital gains (STCG) are taxed at 15%. Understanding these tax implications helps you plan your investments more efficiently.

Tax on Debt Funds
LTCG from debt funds (held for more than three years) are taxed at 20% with indexation benefits. STCG are taxed as per your income tax slab. Proper planning and choosing the right investment horizon can optimize your post-tax returns.

Building a Robust Financial Plan
Emergency Fund
Set aside 3-6 months of expenses in a liquid fund or savings account. This fund acts as a financial cushion during emergencies. Having an emergency fund ensures you don't have to dip into your investments for unexpected expenses.

Insurance
Ensure you have adequate health and life insurance. These policies protect you and your family from unforeseen events. Insurance is a crucial part of a comprehensive financial plan, providing peace of mind and financial security.

Retirement Planning
Start planning for retirement early. Investing in equity mutual funds can help build a substantial corpus over time. The earlier you start, the more you benefit from compounding, making it easier to achieve your retirement goals.

Conclusion
Investing in mutual funds is a smart way to grow your wealth. With a salary of Rs 21,000 and monthly savings of Rs 11,000 to Rs 12,000, you are in a good position to start. Understand the types of mutual funds, assess your financial goals, and choose funds that align with your risk tolerance. Regularly review and rebalance your portfolio to stay on track.

Remember, investing is a journey. Patience and discipline are key. Consulting with a Certified Financial Planner can provide personalized guidance and ensure your investments are well-aligned with your goals.

Best Regards,

K. Ramalingam, MBA, CFP,

Chief Financial Planner,

www.holisticinvestment.in

..Read more

Ramalingam

Ramalingam Kalirajan  |4625 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on Jun 14, 2024

Asked by Anonymous - Jun 14, 2024Hindi
Money
Hi, I am a 43 old Construction Professional, married and have 2 kids. I works overseas and my annual income is Rs 1.3 Cr and after paying the local taxes I will have around 90 Lakhs in my account. I have bank balance of around 60 Lakhs. I have monthly expenses of around 1.5 Lakhs. I have term plan of Rs 1.94 lakhs per year which is up to 2027. and pension plan EMI of Rs 5 Lakhs ending on 2026. a very minor mutual fund of sbi midcap. I am very weak in financial planning. Could you please give me any advice on where to invest money and how to become financially strong ?
Ans: Understanding Your Financial Landscape
Firstly, I commend you on your impressive annual income and your proactive approach to securing your financial future. It's clear that you are seeking comprehensive financial guidance to make informed investment decisions. Let’s break down your current financial situation and provide detailed advice to help you achieve financial strength and stability.

Assessing Your Income and Expenses
You earn Rs 1.3 crore annually, which translates to Rs 90 lakhs after taxes. With monthly expenses of Rs 1.5 lakhs, your annual expenses total Rs 18 lakhs. This leaves you with a substantial surplus of Rs 72 lakhs annually.

Current Financial Commitments
You have a term insurance plan with a premium of Rs 1.94 lakhs per year until 2027. You also have a pension plan EMI of Rs 5 lakhs per year until 2026. These commitments are essential, and maintaining them is crucial for your financial security.

Investment in Mutual Funds
You mentioned having a minor investment in an SBI Midcap mutual fund. While this is a good start, diversifying and expanding your investment portfolio will enhance your financial stability and growth potential.

Building a Comprehensive Financial Plan
Let’s develop a detailed financial plan to address your goals and secure your future.

Emergency Fund
First, ensure you have an adequate emergency fund. An emergency fund should cover 6-12 months of your monthly expenses. Given your monthly expenses of Rs 1.5 lakhs, aim for an emergency fund of Rs 9-18 lakhs. You can keep this in a high-interest savings account or a liquid fund.

Insurance Coverage
Your term insurance plan is a good safety net. However, review the coverage amount to ensure it adequately protects your family’s future needs. Given your high income and responsibilities, you might consider increasing the coverage if necessary.

Retirement Planning
Retirement planning is crucial, especially since you are already 43. Here’s a strategy:

Pension Plan: Continue your current pension plan EMI of Rs 5 lakhs until it ends in 2026.

Additional Retirement Funds: Consider investing in mutual funds through Systematic Investment Plans (SIPs). SIPs in diversified equity funds can provide substantial growth over time. Allocate a significant portion of your surplus, say Rs 30 lakhs annually, to equity mutual funds. Diversify across large-cap, mid-cap, and multi-cap funds for balanced growth.

Children's Education and Future
Your children's education and future expenses are significant considerations. Here’s how to plan:

Education Fund: Start dedicated investment plans for your children’s education. Given the rising cost of education, consider starting SIPs in balanced or equity-oriented mutual funds. Allocate around Rs 10 lakhs annually towards these SIPs.

Children’s Future Fund: Additionally, consider investing in a Public Provident Fund (PPF) or Sukanya Samriddhi Yojana (if you have daughters) for long-term savings with tax benefits. Allocate Rs 1.5 lakhs annually to each account.

Diversified Investment Portfolio
Building a diversified investment portfolio will help balance risk and reward. Here are some investment options:

Mutual Funds: As mentioned, SIPs in diversified equity funds are a good option. Also, consider investing in debt mutual funds for stability and regular income. Allocate Rs 20 lakhs annually to debt funds.

Direct Equity: If you are comfortable with higher risk and have knowledge about the stock market, consider direct equity investment. However, this requires significant research and monitoring.

Fixed Deposits and Bonds: For a secure investment with guaranteed returns, consider fixed deposits and bonds. Allocate Rs 5-10 lakhs annually to these options for a balanced portfolio.

Tax Planning
Effective tax planning will maximize your income and savings. Here’s how:

Section 80C: Utilize the Rs 1.5 lakh deduction under Section 80C by investing in PPF, ELSS mutual funds, or life insurance premiums.

Section 80D: Ensure you claim deductions for health insurance premiums under Section 80D. Consider health insurance for your family if you don’t already have one.

NPS (National Pension System): Investing in NPS provides additional tax benefits under Section 80CCD. Consider contributing to NPS for retirement planning and tax savings.

Reviewing and Adjusting Your Plan
Financial planning is not a one-time activity. Regularly review your investments and financial plan. Here’s how to stay on track:

Annual Review: Review your financial plan annually. Assess the performance of your investments and make adjustments based on your goals and market conditions.

Goal-Based Investing: Align your investments with specific financial goals like retirement, children’s education, and future expenses. This ensures focused and disciplined investing.

Consult a Certified Financial Planner (CFP): Given the complexity of financial planning, consider consulting a CFP. A CFP can provide personalized advice, helping you navigate tax implications, investment strategies, and long-term financial goals.

Final Insights
Your proactive approach to seeking financial guidance is commendable. By building a comprehensive financial plan, diversifying your investments, and regularly reviewing your progress, you can achieve financial strength and security. Remember, the key to successful financial planning is discipline, regular review, and making informed decisions.

Best Regards,

K. Ramalingam, MBA, CFP,

Chief Financial Planner,

www.holisticinvestment.in

..Read more

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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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