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Ramalingam

Ramalingam Kalirajan  |8265 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on May 20, 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 - May 10, 2024Hindi
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Hi sir, I am 33 years old now and earning of 3.5Lper month and can save up to 2L/month. I have 6L in nps and of 2L and no other savings or mutual funds yet. My daughter is 2yr old. I am planning to have own house with 2/3 cr and children education for mbbs cost around 2/3 cr And retirement 2L / month. Can you help me to achieve this goals.

Ans: Your proactive approach to financial planning at 33 years old, coupled with your robust savings potential, lays a solid foundation for achieving your ambitious goals. Let's embark on a journey to design a comprehensive financial plan that encompasses home ownership, education for your daughter, and a comfortable retirement.

Understanding Your Aspirations and Responsibilities:
Before delving into specific strategies, it's crucial to understand your aspirations for the future and the financial responsibilities you'll encounter along the way.

Crafting a Financial Blueprint:
We'll adopt a holistic approach to address your diverse financial objectives, including:

Home Ownership: Achieving your dream of owning a house valued at 2/3 crores requires diligent savings and strategic investment.

Education Planning: Providing for your daughter's education, especially for a professional course like MBBS, necessitates prudent planning and disciplined investment.

Retirement Security: Securing a retirement corpus that can sustain your desired lifestyle, with an income of 2 lakhs per month, calls for careful long-term planning.

Leveraging Investment Vehicles:
To realize your financial goals, we'll explore a combination of investment avenues tailored to your risk tolerance and time horizon.

Equity Investments: Equities offer the potential for long-term growth and wealth accumulation, making them suitable for achieving ambitious goals like home ownership and retirement security.

Debt Instruments: Debt investments provide stability and income generation, serving as a valuable component of your portfolio to fund short-to-medium-term goals like education expenses.

Systematic Investment Plans (SIPs): SIPs in mutual funds offer a disciplined approach to investing, allowing you to systematically allocate funds towards your financial objectives.

Mitigating Risks and Maximizing Returns:
While pursuing your financial aspirations, it's essential to remain mindful of potential risks and adopt risk mitigation strategies.

Diversification: Diversifying your investment portfolio across different asset classes and sectors helps mitigate risk and optimize returns.

Regular Review: Periodic review of your financial plan ensures alignment with your evolving goals and market dynamics, enabling timely adjustments as needed.

Commitment to Financial Growth:
As we embark on this journey together, rest assured that I'm committed to guiding you every step of the way. Your proactive approach and dedication to securing your family's future are commendable and will undoubtedly lead to financial success.

Conclusion: Empowering Your Financial Journey
In conclusion, by crafting a comprehensive financial plan tailored to your aspirations and responsibilities, we lay the groundwork for achieving your long-term goals. With prudent investment strategies and disciplined savings habits, your vision of home ownership, education for your daughter, and a secure retirement is well within reach.

Best Regards,

K. Ramalingam, MBA, CFP,
Chief Financial Planner,
www.holisticinvestment.in
Asked on - May 20, 2024 | Answered on May 20, 2024
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Thanks a lot sir, will try to consult you in person if possible, to understand the area of investment and the pocket size of the investment.
Ans: Welcome!
I appreciate your trust and willingness to connect.
Let's embark on this financial journey together.
You can reach me through my website mentioned below.
This platform has restrictions on sharing personal contact. Hope you understand.

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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Career Counsellor - Answered on Apr 20, 2025

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My JEE main CRL rank is 37000 and and OBC rank is 10442 Will I get Electronics or Mechanical at tier 1 Nit's
Ans: Dear Tilak, Here is, How to Predict Your Chances of Admission into NIT or IIIT or GFTI After JEE Main Results – A Step-by-Step Guide.

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 Key Details
Before starting, note down the following details:

Your JEE Main percentile | Convert the Percentile to AIR, based on the Formula available in Google.
Your category (General-Open, SC, ST, OBC-NCL, EWS, PwD categories)
Preferred institute types (NIT, IIIT, GFTI)
Preferred locations (or if you're 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 you are 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 you are 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 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.

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 admissions!

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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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