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Ramalingam

Ramalingam Kalirajan  |7100 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on May 17, 2024

Ramalingam Kalirajan has over 23 years of experience in mutual funds and financial planning.
He has an MBA in finance from the University of Madras and is a certified financial planner.
He is the director and chief financial planner at Holistic Investment, a Chennai-based firm that offers financial planning and wealth management advice.... more
Asked by Anonymous - Apr 28, 2024Hindi
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10 Sal 4 mahine ka Mera job hai 58 year complete ho gaya hai pension bhi 58 year hone ke bad band ho gaya tha final withdrawal 19 form lagakar kiya tha reason 55 year ka de rahe hain ismein Main Kya kar sakta hun

Ans: Since you've completed 58 years of age and your job has lasted for 10 years and 4 months, it seems you're contemplating your options after ceasing your pension and completing the final withdrawal with Form 19, citing the reason as 55 years. Here's what you can consider:

Understanding Retirement Options:
1. Explore Alternative Income Sources:
Consider exploring alternative sources of income such as part-time work, freelance opportunities, or consulting services to supplement your financial resources.
Evaluate your skills and expertise to identify potential avenues for generating income during retirement.
2. Review Investment Portfolio:
Review your investment portfolio to ensure it aligns with your retirement goals and risk tolerance.
Seek guidance from a Certified Financial Planner to optimize your investment strategy and maximize returns.
3. Assess Social Security Benefits:
Determine if you are eligible for any social security benefits or government schemes that could provide additional financial support during retirement.
Consult with relevant authorities or financial experts to explore available options for accessing social security benefits.
4. Consider Delaying Retirement:
Evaluate the option of delaying your retirement to continue earning a steady income and build a larger retirement corpus.
Assess your health, lifestyle preferences, and financial obligations before making a decision to postpone retirement.
5. Seek Professional Advice:
Consult with a Certified Financial Planner to develop a comprehensive retirement plan tailored to your specific financial situation and goals.
Discuss various retirement options, investment strategies, and income sources to make informed decisions for your retirement years.
Conclusion:
As you navigate your retirement journey, it's essential to explore various income sources, review your investment portfolio, assess social security benefits, consider delaying retirement if feasible, and seek professional advice from a Certified Financial Planner. By taking proactive steps and making informed decisions, you can secure a financially stable and fulfilling retirement.

Best Regards,
K. Ramalingam, MBA, CFP,

Chief Financial Planner,

www.holisticinvestment.in
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  |7100 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on May 17, 2024

Asked by Anonymous - Apr 28, 2024Hindi
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Sir namaskar 10 Sal 4 Mahina Mera service ho gaya tha 58 year ke bad pension Mein contribution band ho gaya tha Uske bad bhi final withdrawal Mein reason 55 year ka reason de rahe hain Aise Mein Main Kya kar sakta hun
Ans: Namaskar! You have completed 10 years and 4 months of service. After the age of 58, your pension contributions stopped. However, during final withdrawal, you are facing an issue with the reason being marked as 55 years.

Steps to Resolve Your Issue
Contact EPFO Office: Visit your nearest Employee Provident Fund Organization (EPFO) office. Explain your situation in detail and provide all necessary documents.

Document Verification: Ensure you have all relevant documents, such as your service certificate, age proof, and any previous communication with EPFO. These will help in verifying your correct service period and age.

Grievance Redressal: Use the EPFO grievance redressal portal. Register your grievance online and track its status. This can expedite the resolution process.

EPFO Grievance Portal: EPFO Grievance Management System
Employer Verification: Contact your employer’s HR department. They can verify your service records and provide additional support or documentation to correct the age error.

Correction Request: Submit a formal request for correction in the age/years of service in your EPFO records. This should be done through your employer or directly at the EPFO office.

Additional Tips
Follow-Up: Regularly follow up with the EPFO office. Persistent communication can help speed up the process.

Keep Records: Maintain copies of all correspondence and documents submitted. This will be useful for future reference and any potential follow-ups.

Seek Help: If you face difficulties, consider seeking help from a Certified Financial Planner. They can provide guidance on managing your pension and retirement funds effectively.

Conclusion
Addressing the discrepancy in your pension records is crucial. By following the steps above, you can correct the error and proceed with your final withdrawal smoothly. Stay patient and persistent.

Best Regards,

K. Ramalingam, MBA, CFP,

Chief Financial Planner,

www.holisticinvestment.in

..Read more

Ramalingam

Ramalingam Kalirajan  |7100 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on Jul 27, 2024

Asked by Anonymous - Jul 20, 2024Hindi
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Main 35 saal ka hu or 50 saal main retirement Lena chata hu meri jewellery shop hai .. or meri monthly 1 lakh ki sip or 20lakh k share hai ... retirement par 4 lakh ki montly income chata hu ...mujhe kya karna chiye ??
Ans: Current Financial Situation
Age: 35 years old

Profession: Jewellery shop owner

Income: Monthly SIP of Rs. 1 lakh

Investments: Rs. 20 lakhs in shares

Retirement Goal: Retire at age 50

Retirement Income Goal: Rs. 4 lakhs per month

Investment Goals
Generate a monthly retirement income of Rs. 4 lakhs.
Maximise returns on existing investments.
Diversify investments to manage risk.
Assessment of Current Strategy
SIP Investment
You have a strong monthly SIP investment of Rs. 1 lakh. This is a good start for building your retirement corpus.

Shares
You have Rs. 20 lakhs in shares. Direct stock investments can be volatile. Regularly review and adjust your portfolio.

Recommendations for Improvement
Increase Diversification
Mutual Funds: Invest in a mix of equity mutual funds. Actively managed funds can provide better returns than index funds.

PPF: Start contributing to PPF for stable, tax-free returns.

Bonds: Consider investing in RBI bonds and other high-yield bonds for stable income.

Systematic Investment Plan (SIP)
Increase SIP: Gradually increase your SIP amount as your income grows. This will help build a larger corpus for retirement.

Diversified Funds: Invest in large-cap, mid-cap, and small-cap mutual funds. This diversification reduces risk and maximizes returns.

Health and Life Insurance
Health Insurance: Get comprehensive health insurance for yourself and your family. This covers medical expenses and ensures financial stability.

Life Insurance: Buy a term plan for adequate coverage. This provides financial security for your family.

Retirement Corpus
Target Corpus: To achieve Rs. 4 lakhs monthly income, you need a significant corpus. Aim for a mix of growth and income-generating investments.
Regular Review and Adjustment
Annual Review: Regularly review your investment portfolio. Adjust based on performance and changes in financial goals.

Professional Guidance: Consult a Certified Financial Planner (CFP) to tailor your investment strategy to your specific needs.

Avoiding Common Pitfalls
Avoid Direct Funds: Direct funds require active management. Consider regular funds through a CFP for better guidance and management.

Avoid Index Funds: Actively managed funds often outperform index funds. Choose funds with a good track record.

Long-Term Investment Strategy
Equity Focus: Maintain a significant portion of your investments in equity for higher returns.

Debt Instruments: Include debt instruments like bonds for stability and fixed returns.

Gold and Other Assets: Diversify into gold and other stable assets to hedge against inflation and market volatility.

Building Corpus for Retirement
Projected Needs: Estimate your future needs considering inflation. Plan your investments to meet these needs.

Retirement Fund Allocation: Allocate funds to different instruments based on risk tolerance and return expectations.

Final Insights
Your current SIP investment is commendable. Diversify your investments into mutual funds, PPF, and bonds. Increase your SIP gradually to build a substantial corpus for retirement.

Ensure you have adequate health and life insurance coverage. Regularly review and adjust your portfolio. Consult a CFP for tailored advice.

This strategic approach will help you achieve your retirement goal of Rs. 4 lakhs monthly income.

Best Regards,

K. Ramalingam, MBA, CFP

Chief Financial Planner

www.holisticinvestment.in

..Read more

Ramalingam

Ramalingam Kalirajan  |7100 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on Nov 12, 2024

Asked by Anonymous - Nov 12, 2024Hindi
Money
Meri age 43 hai, private job h, meri month income 27000/ hain jo mere in hand 25600/- aati hain, meri koi alag se income nhi hain, Mera beta h jo abhi 8 year ka h, uska future kasie secure kru, family ke sath hi rehta hu, main aisa kya kru jisse meri monthly income bhi save ho sake. Or retirement ka koi issue na ho.
Ans: Let’s explore a comprehensive financial approach to help secure your son’s future and prepare for your retirement while saving from your monthly income. Here's a plan tailored to your unique situation.

Current Financial Overview
You are 43 years old and working in a private job with a monthly income of Rs 27,000, leaving you Rs 25,600 in hand. You have one son, aged 8, and no other income source. Ensuring a balance between saving, investing, and securing your son’s future is essential.

Steps for Financial Security and Savings
Establish an Emergency Fund
Start with building an emergency fund to cover 3-6 months of living expenses. This will ensure you’re financially protected during unexpected situations. Consider liquid funds or a recurring deposit, as they offer ease of access while keeping your funds safe.

Allocate for Child’s Education
Start saving specifically for your son's higher education. By beginning early, you can spread out contributions. Consider options that offer stable growth, such as child-specific mutual funds or balanced funds, which are professionally managed and aligned with long-term goals. Regular contributions through a Systematic Investment Plan (SIP) will help gradually accumulate a sizable corpus.

Focus on Retirement Planning
Retirement planning should be approached with a clear goal in mind. Assess how much you will need to maintain your lifestyle post-retirement. Aim for investments that provide growth along with some stability, like diversified mutual funds or balanced funds, as these allow capital appreciation over time. Investing regularly will help ease the burden and grow your retirement corpus without impacting your monthly income significantly.

Health Insurance Protection
Health-related expenses can strain finances. Ensure you have adequate health insurance coverage to safeguard yourself and your family from unexpected medical costs. This will preserve your savings and protect your family’s well-being.

Life Insurance for Financial Security
Opt for term life insurance to provide a financial cushion for your family. This policy would offer your family a lump sum to cover essential expenses in case of an unfortunate event. Avoid investment-linked insurance as it may not give optimal returns compared to pure investment options like mutual funds.

Maximising Your Investment Returns
Mutual Fund Investments
Actively managed mutual funds can offer potentially higher returns than index funds. With an experienced Certified Financial Planner, you can choose funds managed by experts aiming to outperform the market. Through a Systematic Investment Plan (SIP), you can invest small amounts regularly, making it easier to save consistently.

Avoid Direct Funds; Choose Regular Funds
Direct funds can seem cost-effective, but they lack the benefit of expert guidance. Investing through a Certified Financial Planner helps you make informed choices, balancing risk and returns. Regular funds, guided by a CFP, ensure professional management and support, especially in adapting to market changes.

Tax-Efficient Investing
The recent changes in capital gains tax are important to understand. For equity mutual funds, long-term capital gains above Rs 1.25 lakh are taxed at 12.5%, while short-term capital gains are taxed at 20%. For debt mutual funds, both short-term and long-term gains are taxed as per your income slab. Planning your investments to align with these tax rules will help you maximize post-tax returns.

Budgeting and Expense Management
Set Up a Budget to Track Savings
A budget will help you control expenses and save more. Separate essential expenses like household needs, utilities, and education from non-essentials. Aim to save at least 10-15% of your monthly income towards investments.

Automate Savings
Automate your SIPs and other recurring savings. This disciplined approach ensures that savings are set aside first before other expenses. Automation also reduces the chances of missing contributions, allowing your investments to grow steadily.

Regular Financial Reviews
Review Your Financial Plan Annually
Review your financial plan and investment portfolio yearly. Adjust your strategy if there are changes in your income, expenses, or goals. A Certified Financial Planner can provide valuable insights and updates to keep you on track.

Final Insights
A structured, disciplined approach is key to building a secure financial future. By focusing on your son’s education, retirement, and emergency savings, you’re laying a foundation for financial independence and security. Remember, small but consistent efforts will help you achieve your financial goals with time.

Best Regards,

K. Ramalingam, MBA, CFP,

Chief Financial Planner,

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

..Read more

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Relationships Expert, Mind Coach - Answered on Nov 22, 2024

Asked by Anonymous - Jul 28, 2024Hindi
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Hi sir, I am 40 yr old having work-expereince of 10 yrs behind me in ITes, customer support & service, banking and sales & marketing (product). My life till now can easily be converted into a bollywood biopic having its own twist & turns, roadblocks, struggles laughter, joy and sorrow. Change is the only constant in life and that exactly applies in my case. Although it has been a satisfactorily life till now given that I know myself and how I lead my life. Whenever I start to read something new I feel like going deep into it. I am also easily attracted to novel things & concepts. I usually get into procastination mode whenever I come across something entirely new and start to imagine myself trying it out in realilty.Why does this happens? Why can't I focus on one single thing at a time and see it to completion? I know in todays world generalists are looked down upon and it is an era of specialists, experts and professionals having good domain knowledge of their area of work. It is always better to be an expert than be a jack of all trades (which seems very filmy nowadays where a hero is expected to do everything on his own). Lately I have developed an avid interest in technology and i keep on reading various articles & books on IT and technology. I am also pursuing an online cyber security course from Great Learning Institute, Bangalore. I want to know am I going in the correct direction in life or is it something else I should do which ensures more satisfaction in life? Lately, I have become bit irriiated as well due to the above reasons as I tend to do multiple things at a time (multitasking). My parents are also fed up of me now. My mother keeps nagging me all day.I dont know how to really deal with her, as she always finds perfection in everything. That becomes too much at times. Does this happens in every household? Should I go out and travel to some place in order to temporarily escape from all this? Kindly suggest me some course of action. Pls answer. Thanks
Ans: Dear Anonymous,
You will be distracted and keep trying new things until you actually figure out what you want for yourself in life.
- How does you life seem like a few years down the line?
- What must you do NOW to actually get to where you want in life?

And to answer these questions, you first need to identify a strong, solid goal in life. Either you work with a mentor or your boss or a friend or an expert who can help you identify your goal and purpose. That might help you stay the course and actually streamline your thoughts, your job and your daily life.
Travel used for learning is great but using it to escape only worsens things...So, work on Goal-Setting!

All the best!
Anu Krishna
Mind Coach|NLP Trainer|Author
Drop in: www.unfear.io
Reach me: Facebook: anukrish07/ AND LinkedIn: anukrishna-joyofserving/

...Read more

Anu

Anu Krishna  |1321 Answers  |Ask -

Relationships Expert, Mind Coach - Answered on Nov 22, 2024

Asked by Anonymous - Nov 16, 2024Hindi
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Relationship
Hi , I am a professor mech engineer , after death of my wife and due to having 5 year girl baby I planned for 2 nd marriage as I live alone away from home town because my of job with my little baby . I accepted a widow having 2 child ,she was working in a govt job 250 km away , after ensuring and agreeing her possibility of transfer and job vacancy @govt office near my house and ensuring she agreed that she will come to live with me along with her 2 kids and my little baby as her trasfer was due in comming few months . We lived apart during her job at 250 km away.,while meeting on weekly offs 6 /7 time in 6 months , then she take 360 degree u turn and said she will not get job transfer to my place and get her trasfer in other dept. in same previous office. And started telling many reasons like she will loose her children's inheritance in her in-laws property ,she will loose promotion , kids Don't want trasfer , and said we will live apart forever . This was contradictory to earlier agreed things .and my my purpose to live in family with my baby not fulfilled , so after long ruckus ,I mutually got divorce from her , Then After divorce I decided to marry non working women having no child and don't expect child as I am @48 year old and tired of living alone and managing job ,girl , house chores . I married to a divorcee girl from Pune ,she was BA first year college drop out girl of 44 yr age after 6 months of long dating on week ends . During 6 months I tried to know her indepth but was don't used to talk much as I was trying to know her true nature, we visited many places ,movies . She seemed perfect as per my requirement of girl wanting no child , and she is house wife . after marriage she behave well for 1 st week ,then she started trouble to hate my baby ( became kaikai )on pety things , she want my baby to house chores at the cost of her important year of 10th std study . She don't liked me taking tution of girl , she didn't like if I help my girl any way . She don't like if I spent some money on my girl . She used to fight all night and don't let me sleep . Now she stated demanding that she want baby , though I was against and b4 marriage agreed to not have any more child due to old age ,cost ,and no personal time for self , then I agreed to have child but b4 that I got her and my fertility tested ,she had weak eggs and syst on her reproductive organs and doc warned to not go for pregnancy due to risk and probability of unhealthy baby birth , but she kept repeating That she want child we consulted 4 Drs. She used to fight and go to her mother's home for 2/4 months after living with me for 2/3 days only . Now she wants divorce , and asks me to keep my girl in hostel if I want her in my life . This Ramayan has left me baffled , What should I do ??? .....
Ans: Dear Anonymous,
The reason to marry for you mainly has been companionship, a mother for your daughter...
And marriage is not a transaction BUT a meeting of minds...when there is no compatibility, there is no space for agreeing on the same things or wanting to make things work which is possibly what has happened with your 2nd and 3rd marriage.
If you want this marriage to work, there has to be an equal commitment by both of you, so, start by emotionally bonding first. Slowly build on this by making goals for the marriage and the future...your only goal can't be mother for your child...not all women are going to readily accept this and some may even falter along the way. Allow the lady and your daughter to bond together for sometime so they develop a unique relationship...
Understand that transactional relationships do not last; so, invest enough time in building trust in that companionship for it to become something meaningful

All the best!
Anu Krishna
Mind Coach|NLP Trainer|Author
Drop in: www.unfear.io
Reach me: Facebook: anukrish07/ AND LinkedIn: anukrishna-joyofserving/

...Read more

Anu

Anu Krishna  |1321 Answers  |Ask -

Relationships Expert, Mind Coach - Answered on Nov 22, 2024

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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