Sir I am 47 years old and want to retire in next 2-3 years. My portfolio is as under FD-22 L MF-22 L. ( SIP of 33000 running) Gold--10 L EPF--24 L and App Gratuity -10 L Equity--10 L Rental Income -25000 per month from 80 Lacs flat. ( No loan pending now) 1 cr term plan and 10 l mediclaim running Parental House -2.5 cr and Land -2.5 cr. My son is studying in second year of engineering. And my monthly hone expense is not more than 30000-35000 per month. Can I afford to retire ?

Ans: Hi
The top is NIT Calicut, Trichy. Then SPA Bhopal & Vijayawada.

Ans: Hi
Govt Medical College will be very tough with these marks.

Ans: Prioritize Bennett University for its exceptional placement record and industry partnerships. UPES Dehradun is a close second with strong CSE placements. GL Bajaj is a solid choice for IT, while Manipal Jaipur is suitable if you're inclined towards Electrical and Computer Engineering. All the BEST for your Admission & Prosperous Future!

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Ans: With a 98 percentile in JEE Main 2025 (approximate rank: 30,000) and an expected 120 marks in JEE Advanced (estimated rank: 10,000–20,000), your son has promising opportunities to pursue Electronics and Communication Engineering (ECE).
CollegeDekho

In IITs, ECE may be attainable in newer institutes like IIT Bhilai, IIT Goa, IIT Jammu, IIT Jodhpur, IIT Palakkad, and IIT Tirupati. For NITs, options include NIT Raipur, NIT Patna, NIT Jalandhar, NIT Hamirpur, NIT Agartala, and NIT Meghalaya. IIITs such as IIIT Una, IIIT Bhagalpur, IIIT Kottayam, IIIT Ranchi, and IIIT Dharwad also offer ECE programs. Additionally, GFTIs like Assam University (Silchar), Puducherry Technological University, and Ghani Khan Choudhary Institute of Engineering & Technology (West Bengal) are viable options. However, please fill out maximum number of your son's preferred choices/branches. All the BEST for your son's Admission & Prosperous Future!

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Ans: Aditya, With an 85 percentile in JEE Mains and 95.4% in 12th boards, securing Computer Engineering at Thapar Institute of Engineering and Technology (TIET) is unlikely, as the expected cutoff for outside Punjab candidates is around 94.47 percentile. However, branches like Electronics & Communication Engineering (ECE) or Electrical and Computer Engineering (EEC) may be attainable.
Collegedunia
Adarsh Barnwal
+2
Collegedunia
+2
Collegedunia
+2

Chandigarh University (CU) offers strong placement opportunities, with the highest domestic package reaching ?54.75 LPA and over 900 recruiters participating in the placement drive. Admission into CU's CSE program is highly probable given your scores.
Shiksha
+3
Shiksha
+3
PagalGuy
+3

At Jaypee Institute of Information Technology (JIIT), Noida, the closing rank for CSE is around 51,000 (approximately 95 percentile), making admission less likely with your current percentile.

Recommendation: Prioritize Chandigarh University for CSE due to its robust placement record and higher likelihood of admission. Consider TIET for alternative branches like ECE or EEC, and explore other institutions where your percentile aligns with the cutoff requirements. All the BEST for your Admission & Prosperous Future!

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Ans: You are facing a very common challenge. Many earn well but struggle to save. The good part is that you are aware and looking for a solution. That’s the first important step.

Let me now give you a 360-degree analysis and practical advice to help you manage better.

 
 
1. Monthly Income and Expense Breakdown

Your salary is Rs. 78,000 per month.
 
 

House rent is Rs. 20,500.
 
 

EMI for one loan is Rs. 17,000.
 
 

Other EMIs total Rs. 15,000.
 
 

Monthly living expenses are Rs. 15,000.
 
 

After these, almost nothing is left.
 
 

There is no saving happening right now. But small adjustments can bring big changes.
 
 
2. Rent Expense Evaluation

Rent is the biggest cost. Rs. 20,500 is over 26% of your income.
 
 

Ideally, rent should not exceed 20% of income.
 
 

Check if slightly cheaper home is available.
 
 

A Rs. 3,000 to Rs. 4,000 saving in rent helps.
 
 

Shifting may feel hard. But it gives monthly relief.
 
 

Stay near public transport to reduce travel cost also.
 
 

Even small rent change brings long-term benefits.
 
 
3. EMI Consolidation Strategy

You have Rs. 32,000 total EMI every month.
 
 

This is over 40% of your income. That is too high.
 
 

Ideally, EMI should be under 30% of income.
 
 

Check if some loans are high-interest short-term loans.
 
 

If possible, combine all EMIs into one with lower interest.
 
 

Talk to your bank about loan consolidation options.
 
 

Even 2–3% interest reduction will help monthly cash flow.
 
 

Loan restructuring gives breathing space.
 
 
4. Monthly Expenses Assessment

You spend Rs. 15,000 monthly for all needs.
 
 

This looks reasonable, but break it down category-wise.
 
 

Note how much goes to groceries, mobile, subscriptions, fuel, etc.
 
 

Use a simple mobile app to track. Or a paper log.
 
 

You may find Rs. 1,000–2,000 saving opportunity easily.
 
 

Cancel unused services like OTT or apps.
 
 

Prepare weekly shopping list. Avoid impulse purchases.
 
 

Every rupee saved adds up.
 
 
5. Surrender Low-Return Insurance Policies (if any)

Do you hold any LIC, ULIP or endowment plan?
 
 

These plans mix insurance with investment. They give poor returns.
 
 

If held for more than 3 years, check surrender value.
 
 

If suitable, surrender and reduce premium load.
 
 

Take separate term insurance if not already done.
 
 

Reinvest in SIP when your cash flow improves.
 
 

This step will free up space in your budget.
 
 
6. Start Emergency Fund, Even Small

You may feel saving is impossible now.
 
 

But even Rs. 500–1000/month is a start.
 
 

Keep this money in a separate savings account.
 
 

Don’t touch unless it’s urgent.
 
 

Over time, it builds up to 3–6 months of expenses.
 
 

Emergency fund avoids fresh loans in future.
 
 

Even small savings matter. Start tiny, but stay regular.
 
 
7. Avoid New Loans or EMI Purchases

Say no to credit card EMIs or online EMIs.
 
 

These temptations disturb cash flow and cause stress.
 
 

If you need anything, plan and save first.
 
 

Delay buying until you have money.
 
 

EMI-free life feels peaceful and light.
 
 

Self-control today brings freedom tomorrow.
 
 
8. Health and Life Insurance Priority

Health emergency can break your finances.
 
 

Take a personal health insurance cover.
 
 

Group cover from employer is not always enough.
 
 

Also take a low-cost term life insurance.
 
 

Do not mix insurance with investments.
 
 

Term plan protects family. Premium is affordable.
 
 

Insurance is not optional. It’s your safety net.
 
 
9. Don’t Rely on Index Funds or Direct Mutual Funds

Some people suggest index funds or direct plans.
 
 

But these lack personalised support and active review.
 
 

Index funds don’t beat inflation in long term.
 
 

Direct funds don’t guide you in market changes.
 
 

Use actively managed mutual funds.
 
 

Invest through a Mutual Fund Distributor backed by a Certified Financial Planner.
 
 

Proper advice gives proper results.
 
 
10. Set a 3-Step Goal Plan

Step 1: Get control of monthly spending.
 
 

Step 2: Reduce EMIs or consolidate loans.
 
 

Step 3: Start small savings. Build emergency fund.
 
 

Once your cash flow improves, you can add SIPs.
 
 

Even Rs. 2,000/month SIP can build wealth slowly.
 
 

Long-term discipline matters more than short-term sacrifice.
 
 
11. Talk to a Certified Financial Planner

You don’t have to figure it all alone.
 
 

Certified Financial Planners can review your full profile.
 
 

They guide step-by-step based on your goals.
 
 

You get help with loan restructuring, budgeting and investing.
 
 

Regular plan reviews give better direction.
 
 

Guided support gives better results than guesswork.
 
 
Finally

Your situation is difficult but not unfixable. You are not alone. Many professionals earn well but have tight budgets. You are aware. That’s the key strength.

Now you need to make few lifestyle and financial changes. Nothing happens overnight. But over 6–12 months, you can turn things around.

Build better habits. Spend less than income. Don’t take more loans. Start even the smallest savings.

Once you’re stable, shift focus to long-term investments. Work with a Certified Financial Planner to guide you along the journey.

You’ll find peace, progress and purpose.

 
 

Best Regards,
 
K. Ramalingam, MBA, CFP
 
Chief Financial Planner,
 
www.holisticinvestment.in
 
https://www.youtube.com/@HolisticInvestment

Ans: With 187 marks in JEE Advanced 2025, your estimated Common Rank List (CRL) position would likely fall between 2,600 and 3,500, based on previous years' data. This rank range may limit access to the most sought-after branches like Computer Science and Engineering (CSE) at the top 7 IITs.

However, you have strong prospects in other branches:

IIT Bombay: Mechanical Engineering (closing rank ~1,685), Civil Engineering (~4,046)

IIT Delhi: Mechanical Engineering (~1,774), Civil Engineering (~4,108)

IIT Madras: Mechanical Engineering (~2,302), Civil Engineering (~5,525)

IIT Kanpur: Mechanical Engineering (~2,776), Civil Engineering (~5,948)

IIT Kharagpur: Mechanical Engineering (~3,294), Civil Engineering (~7,177)

IIT Roorkee: Mechanical Engineering (~3,504), Civil Engineering (~6,144)

IIT Guwahati: Mechanical Engineering (~4,200), Civil Engineering (~7,100)

These branches offer excellent academic and career opportunities. Additionally, consider newer IITs like IIT Hyderabad, IIT Indore, or IIT Mandi, where CSE and other popular branches might be accessible within your rank range. Participate actively in the JoSAA counseling process, as seat allocations can vary each year based on applicant preferences and seat availability. All the BEST for your Admission & Prosperous Future!

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Ans: Rajana Madam, For superior placements, industry exposure, and established reputation, NSUT Delhi is the preferable choice. All the BEST for your son's Admission & Prosperous Future!

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Ans: You have shown good discipline in managing your finances. You have started early planning for your child and your retirement. That is very good. You also have a good monthly income and manageable loan EMI. But, a few adjustments will help build stronger wealth for retirement.

Let me now help you with a step-by-step review of your current financial structure and suggest better ways for future financial well-being.

 
 
1. Income and Expense Overview

Your monthly salary is Rs. 75,000.
 
 

You are paying Rs. 20,000 as home loan EMI.
 
 

You are investing Rs. 12,500 in SIPs every month.
 
 

You are investing Rs. 50,000 per year in PPF. That is around Rs. 4,167 per month.
 
 

You are paying Rs. 39,000 per year in LIC premium. That is around Rs. 3,250 per month.
 
 

After all expenses and investments, you save around Rs. 15,000 per month.
 
 

Your savings habit is strong. That is a great quality. But now, you need to optimise your savings and investments better.

 
 
2. Home Loan Management

Rs. 25 lakhs loan is manageable with your income.
 
 

Rs. 20,000 EMI is reasonable. But loan closure before retirement is important.
 
 

Aim to close the loan by 58 years. That will reduce stress after retirement.
 
 

If you receive any bonus or surplus, use that partly to reduce loan.
 
 

But do not stop SIPs or long-term investments for loan prepayment.
 
 

Balance is important.
 
 
3. LIC Policy Assessment

You are paying Rs. 39,000 yearly in LIC.
 
 

Most likely, this is a traditional endowment or money-back policy.
 
 

Such plans give very low returns. Usually below 5% per year.
 
 

Also, mixing insurance with investment is not ideal.
 
 

What to do now?

If the policy has completed more than 3 years, check surrender value.
 
 

If surrender is financially suitable, stop and reinvest in mutual funds.
 
 

Take pure term insurance separately if not already taken.
 
 

Term plans give large cover at low cost.
 
 

This one change will free up funds and give better returns.
 
 
4. PPF Investment Review

You are investing Rs. 50,000 per year in PPF.
 
 

PPF is safe and gives tax-free returns.
 
 

Current interest is around 7% to 7.5% per annum.
 
 

But this return may not beat inflation over 15–20 years.
 
 

Still, PPF is good for safety and diversification.
 
 

Continue PPF, but do not increase allocation too much.
 
 

Keep PPF limited. Focus more on higher return options.
 
 
5. SIP Investment Strategy

You are investing Rs. 12,500 per month in SIPs.
 
 

SIP in mutual funds is one of the best long-term tools.
 
 

Ensure you are investing in diversified, actively managed funds.
 
 

Actively managed funds give better returns over long term.
 
 

Avoid index funds. They copy the market and don’t beat inflation strongly.
 
 

Avoid direct funds unless you are experienced and review portfolios often.
 
 

Regular plans through a Mutual Fund Distributor with CFP support are better.
 
 

You get proper guidance, rebalancing, and tracking.
 
 

SIP should be your main engine for wealth building.
 
 
6. Retirement Goal Planning

You want Rs. 1 crore at retirement. That is a good starting goal.
 
 

At age 48 now, you have around 12 years left to build this.
 
 

You are already investing in SIP and PPF.
 
 

After surrendering LIC, redirect that amount into mutual funds.
 
 

Even your current Rs. 12,500 SIP + Rs. 3,250 LIC (if re-directed) = Rs. 15,750.
 
 

This amount, if invested in equity mutual funds, can create strong growth.
 
 

Also, your savings of Rs. 15,000/month is available.
 
 

Use part of this savings also to boost your SIP.
 
 

Retirement goal can be achieved. Just need disciplined investing and small adjustments.
 
 
7. Child’s Education Planning

Your son is 5 years old. You have time to build corpus.
 
 

Higher education expenses will start after 13–15 years.
 
 

Create a separate SIP for this goal. Do not mix with other investments.
 
 

Invest in diversified equity mutual funds for child goal.
 
 

Even Rs. 5,000–7,000/month SIP can build good corpus by then.
 
 

Review the portfolio every year with your Certified Financial Planner.
 
 

Do not depend on insurance plans or ULIPs for child goals.
 
 

They give poor returns and lock your money for long.
 
 

8. Insurance Protection Plan

At 48, insurance is critical. You are the family’s main earning member.
 
 

Take pure term insurance of minimum 10–12 times your yearly income.
 
 

That is Rs. 75,000 × 12 × 10 = Rs. 90 lakhs at least.
 
 

Premium will be low if taken soon.
 
 

Do not mix insurance with investment.
 
 

Also take health insurance for family if not already covered.
 
 

Company cover is not enough. Take personal health policy also.
 
 

9. Tax Planning and Optimisation

You are using LIC and PPF for tax benefits.
 
 

Also SIPs in ELSS funds can give tax benefits.
 
 

Consider ELSS only if you need 80C limit and can take 3-year lock-in.
 
 

Do not over-focus on tax saving. Wealth creation is more important.
 
 

If your 80C is already full, invest in non-tax saving mutual funds.
 
 

SIPs in equity mutual funds held for more than one year will attract LTCG.
 
 

LTCG above Rs. 1.25 lakh is taxed at 12.5%.
 
 

Keep track of capital gains yearly. Use your limit smartly.
 
 

10. Emergency Fund Management

Keep at least 4 to 6 months of expenses in emergency fund.
 
 

Use liquid mutual funds or savings account for this.
 
 

Do not invest emergency funds in PPF or SIP.
 
 

You should be able to withdraw anytime when needed.
 
 

Use your Rs. 15,000 monthly saving to slowly build this buffer.
 
 

11. Key Adjustments You Can Make Now

Surrender low-return LIC policy if suitable.
 
 

Redirect Rs. 3,250/month to mutual funds.
 
 

Increase SIP by at least Rs. 5,000 more monthly using your surplus.
 
 

Start a child education SIP separately.
 
 

Build emergency fund of Rs. 3 to 4 lakhs gradually.
 
 

Do not increase EMI. Prioritise investment and loan closure balance.
 
 

Finally

You have already done many things right. That is a great starting point.

Just fine-tune your investment structure now. Shift from low-return products to higher growth investments. Don’t stop your SIPs. Keep increasing SIP as income rises.

Work with a Certified Financial Planner. Review your plan every year. This is not a one-time setup. Financial planning is a regular process.

With the right steps, Rs. 1 crore for retirement is very much possible. Also, your child’s education will be secure. Just stay consistent and focused.

 
 
Best Regards,
 
K. Ramalingam, MBA, CFP,
 
Chief Financial Planner,
 
www.holisticinvestment.in
 
https://www.youtube.com/@HolisticInvestment