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Ramalingam

Ramalingam Kalirajan  |9758 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on Jun 18, 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 - Jun 18, 2024Hindi
Money

Good afternoon sir,Sir i am 27 years old and my salary is around 80k,i have been working since 1 year and has neither savings nor debt as of now. I am unmarried and my monthly expenses including rent,grocery,water and electricity constitute around 20k,i have emi of 1 yr tenure collectively of around 10k. Ihave monthy expenditure on flights of around 7k.Sir please guide on how to save big and also contribute effectively to my old parents.Thank you sir.

Ans: It's admirable that at 27, you're keen on managing your finances effectively and also supporting your parents. Starting early gives you a significant advantage for building wealth and ensuring financial security. Let’s develop a comprehensive plan to help you save, invest, and contribute to your family’s well-being.

Understanding Your Current Financial Position
First, let’s break down your current financial situation to identify areas for saving and investment:

Monthly Income and Expenses:
Salary: Rs 80,000 per month.
Fixed Expenses: Rs 20,000 (rent, groceries, utilities).
EMI: Rs 10,000 (one-year tenure).
Travel Expenses: Rs 7,000 for flights.
Remaining Disposable Income: Rs 43,000.
With Rs 43,000 left each month after essential expenses, you have a good opportunity to save and invest.

Establishing a Solid Savings Plan
1. Build an Emergency Fund
Importance of an Emergency Fund:

An emergency fund provides a financial cushion for unexpected expenses like medical emergencies or job loss.
Aim to save 3-6 months’ worth of living expenses.
Start with Small Steps:

Begin by setting aside Rs 10,000 per month until you accumulate your target amount.
Keep this fund in a high-interest savings account for easy access and growth.
2. Automate Your Savings
Set Up Automatic Transfers:

Arrange for a fixed amount to be automatically transferred to your savings account each month.
This approach ensures consistent saving without relying on manual effort.
Pay Yourself First:

Prioritize saving as if it’s a non-negotiable expense.
Transfer funds to your savings as soon as you receive your salary.
3. Create a Budget
Track Your Expenses:

Use a budgeting app or spreadsheet to record all your monthly expenses.
Identify areas where you can cut back or optimize spending.
Allocate Funds Wisely:

Designate specific amounts for savings, investments, and discretionary spending.
Stick to your budget to avoid unnecessary expenses.
Investing for Long-Term Growth
1. Understanding Investment Options
Mutual Funds:

Mutual funds are managed by professional fund managers who invest in a diversified portfolio.
They offer various options, including equity, debt, and hybrid funds, catering to different risk profiles.
Systematic Investment Plan (SIP):

SIP allows you to invest a fixed amount regularly in mutual funds.
It helps in averaging the purchase cost and benefiting from market fluctuations over time.
Public Provident Fund (PPF):

PPF is a government-backed savings scheme with attractive interest rates and tax benefits.
It’s a safe investment option for long-term savings.
2. Diversify Your Investments
Equity Mutual Funds:

Allocate a portion of your savings to equity mutual funds for higher returns.
Choose funds with a mix of large-cap, mid-cap, and small-cap stocks for diversification.
Debt Funds:

Invest in debt funds for stable returns and lower risk.
They provide income through interest payments and are less volatile than equity funds.
Balanced Approach:

Maintain a balanced portfolio with a mix of equity and debt funds.
This strategy helps manage risk while aiming for growth.
3. Set Clear Financial Goals
Define Your Objectives:

Identify your short-term and long-term financial goals, such as buying a car, saving for a house, or retirement.
Set specific, measurable, achievable, relevant, and time-bound (SMART) goals.
Align Investments with Goals:

Choose investment options that align with your risk tolerance and time horizon for each goal.
For example, equity funds for long-term goals and debt funds for short-term needs.
Managing Expenditures Effectively
1. Optimize Monthly Expenses
Review and Reduce:

Regularly review your monthly expenses to identify unnecessary costs.
Look for ways to reduce spending on non-essential items like dining out and subscriptions.
Budget for Discretionary Spending:

Allocate a fixed amount for discretionary expenses, including leisure activities and personal purchases.
Stick to this budget to avoid overspending.
2. Plan for Big Expenses
Travel and Lifestyle Costs:

Set aside a specific budget for your monthly travel expenses, such as flights.
Look for ways to minimize costs, such as booking in advance or using rewards points.
Plan for Major Purchases:

Save up for significant purchases rather than relying on loans or credit.
This approach prevents additional debt and financial stress.
Supporting Your Parents Financially
1. Assess Their Financial Needs
Understand Their Situation:

Discuss with your parents their financial needs and any existing expenses or debts.
Determine how much support they require and in what form (e.g., monthly allowance, medical expenses).
Create a Support Plan:

Develop a plan to contribute to your parents’ financial well-being.
This could include regular transfers, paying specific bills, or setting aside funds for emergencies.
2. Integrate Support into Your Budget
Allocate Funds for Family Support:

Include your contribution to your parents in your monthly budget.
Ensure this allocation doesn’t compromise your savings and investment goals.
Consider Joint Investments:

Explore joint investment opportunities that benefit both you and your parents.
For example, investing in a senior citizen savings scheme that provides regular income.
3. Encourage Financial Independence
Discuss Financial Planning with Your Parents:

Encourage them to plan for their financial future, considering their retirement and medical needs.
Offer to help them understand and manage their finances better.
Support with Knowledge and Resources:

Provide information and resources on managing finances and investments.
Help them make informed decisions about their financial security.
Building a Strong Financial Future
1. Continue Professional and Personal Development
Invest in Your Career:

Focus on advancing your career to increase your earning potential.
Seek opportunities for skill development, certifications, and networking.
Personal Growth and Financial Literacy:

Continuously improve your financial knowledge and personal development.
Stay informed about investment strategies, market trends, and financial planning.
2. Plan for Major Life Events
Marriage and Family Planning:

Consider future expenses related to marriage, starting a family, and children’s education.
Begin saving and investing early for these life events.
Home Ownership:

If you plan to buy a house, start saving for a down payment and research home loan options.
Factor in long-term costs like maintenance and property taxes.
3. Secure Your Future with Insurance
Health Insurance:

Ensure you have adequate health insurance to cover medical expenses.
This protection is crucial to avoid depleting your savings during emergencies.
Life Insurance:

Consider life insurance to secure your family’s financial future in case of unforeseen events.
Choose a policy that provides sufficient coverage based on your dependents’ needs.
Final Insights
At 27, you have a great opportunity to build a strong financial foundation. By prioritizing savings, diversifying investments, and managing your expenses effectively, you can achieve your financial goals and contribute to your family’s well-being.

Focus on creating a robust emergency fund and automate your savings to ensure consistency. Diversify your investments to balance risk and growth, and align them with your financial goals. Optimize your monthly expenses and plan for significant expenditures, while also supporting your parents financially and encouraging their independence.

Continue to invest in your personal and professional development, plan for major life events, and secure your future with adequate insurance coverage. With disciplined planning and a clear strategy, you can save significantly, invest wisely, and contribute effectively to your parents’ needs.

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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Mutual Funds, Financial Planning Expert - Answered on Apr 24, 2024

Asked by Anonymous - Jan 22, 2024Hindi
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Hello .. I am 33 years old me and both me and my husband have started saving recently. We stay in mumbai and combined earn 3.2 lacs per month after tax. However due to different financial obligations and family responsibilities we are unable to do any savings. We have to spend about 80k for family and we also have different loans and obligations. Please provide us advise to invest and save better
Ans: It's commendable that despite financial obligations and family responsibilities, you're looking to pave a path towards savings and investment. Balancing present needs with future goals can indeed be a tightrope walk.

Firstly, let's look at your expenses. Allocating 80k for family expenses is a significant chunk of your income. While family comes first, there may be areas where you can optimize spending without compromising on essentials.

Given your combined income of 3.2 lacs post-tax, even a small percentage saved can make a difference over time. Start by creating a budget that outlines all your monthly expenses and identifies areas where you can cut back.

For savings and investments, consider starting small with a systematic investment plan (SIP). It allows you to invest a fixed amount regularly in mutual funds. Even a modest monthly SIP can accumulate into a substantial sum over time, thanks to the power of compounding.

Lastly, review your loans and obligations. Are there opportunities to refinance at lower interest rates or consolidate debts? This could free up some funds for savings.

Remember, financial planning is a journey, not a destination. It's okay to start small. The key is consistency and patience. With time, as your income grows and obligations reduce, you'll find it easier to save and invest more. Best of luck on your financial journey!

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Mutual Funds, Financial Planning Expert - Answered on Jul 16, 2024

Asked by Anonymous - Jun 14, 2024Hindi
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Hi I am 28yrs old , my monthly in-hand salary is 1lakh , currently I am paying previous personal loans after October I'm debt free , currently I am investing ELSS mutual funds monthly 5k and lic moneback policy for monthly 5k , and investing in gold monthly 6k . Suggest me how to save money which gave me bulk amount to buy a 3bhk house in metropolitan city and retirement plan.
Ans: Current Financial Situation

You are 28 years old with a monthly in-hand salary of Rs 1 lakh. You are currently paying off personal loans, which will be completed by October. Your current investments include Rs 5,000 in ELSS mutual funds, Rs 5,000 in a LIC moneyback policy, and Rs 6,000 in gold.

Post-Debt Investment Strategy

Once your loans are cleared, you will have more disposable income. This is an excellent opportunity to reallocate your funds towards achieving your goals.

Building a House Fund

Increase SIP in Mutual Funds:

Post-October, consider increasing your ELSS SIP. Additionally, diversify into other mutual funds like large-cap, mid-cap, and multi-cap funds. This will help you build a substantial corpus over time.
Liquid Funds for Short-Term Goals:

Park a portion of your savings in liquid funds. This ensures liquidity while earning better returns than a savings account.
Fixed Deposits (FDs):

Consider investing a part in FDs for a fixed return. This adds stability to your portfolio.

Retirement Planning

Diversified Mutual Funds:

Continue with your ELSS for tax benefits and long-term growth. Also, add balanced funds and debt funds to ensure a stable return.
Public Provident Fund (PPF):

Start investing in PPF for safe, long-term returns and tax benefits. It has a lock-in period but offers attractive interest rates.
National Pension System (NPS):

Invest in NPS for retirement. It offers market-linked returns and additional tax benefits under Section 80CCD(1B).

Reevaluate LIC Policy

LIC moneyback policies typically offer lower returns. Consider switching to term insurance for higher coverage at a lower premium. Redirect the savings into mutual funds for better returns.

Gold Investments

Gold is a good hedge but typically offers lower returns. Keep it as a smaller portion of your portfolio. Diversify into other assets for better growth.

Final Insights

To buy a 3BHK in a metropolitan city, you need a disciplined savings and investment approach. Increase your mutual fund SIPs post-debt, start a PPF and NPS, and reevaluate your LIC policy. Diversifying your investments will help you build a substantial corpus for both your house and retirement.

Best Regards,

K. Ramalingam, MBA, CFP,

Chief Financial Planner,

www.holisticinvestment.in

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Hello Sir/ Ma'am! Hope you are doing well! My name is Megha ( 23 years) and I am from Kolkata. I come from a lower middle class family and work as a teacher in the secondary section of a reputed school in Kolkata. I draw a monthly salary of 28000 rupees as a contractual employee and my salary is expected to increase in future substantially. I have around 2 lacs saved in the bank and an fd of 2 lacs as well which is scheduled to mature in 3 yrs. Dear Sir/ Ma'am, could you kindly guide me on the different means on how I could save up substantially for the future ( considering my retirement is at 60)? My general monthly expenditure are as follows: 1) parents - 8000 rupees 2) bills and other expenses - 10000 rupees. 3) savings - 10,000 rupees. Your guidance on this matter will be extremely valuable. Thank you. Regards, Megha.
Ans: Dear Megha,
To achieve substantial savings for the future, start by creating an **emergency fund** that covers 3-6 months of expenses (around Rs. 50,000-1 lakh). This ensures you have a safety net for unexpected financial needs.
Next, invest in a **Public Provident Fund (PPF)**, which offers tax benefits and long-term growth. Aim to invest Rs. 5,000-7,000 per month from your savings. Additionally, you can start a **Systematic Investment Plan (SIP)** with Rs. 2,000-3,000 in diversified mutual funds. Over time, this will help you build wealth through compounding.
Since you already have an FD, consider opening a **Recurring Deposit** for a safe, fixed-return investment to complement your FD.
Also, ensure that you and your parents are adequately covered with **health insurance**. This will help avoid large medical expenses in case of emergencies.
As your salary increases in the future, consistently increase your savings and investment amounts. Over time, these small, regular investments in SIPs, PPF, and recurring deposits will accumulate to a significant sum by your retirement.
My suggestion is to define a disciplined approach and invest a minimum of 20% of your salary, and a maximum can be up to 50% for the future; you can define different goals like Retirement, Marriage, Home purchase, Travel, Medical emergencies, etc. and depending on your goals
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Ramalingam Kalirajan  |9758 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on May 29, 2025

Asked by Anonymous - May 19, 2025
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I am a 38 year old, having monthly salary of 2.48 lakhs. Apart from this I get 27 k from rented house. I have a house loan with monthly emi 52k and car emi of 13.6k. I live in a rented accommodation of 34k. I have LIC of 10k monthly and 10k in MFs, plus 25k per month going for gold purchase. Please suggest a saving plan for me. I also want to get another house on loan for about 90 lakhs
Ans: Your financial life shows strong income, disciplined savings, and long-term thinking. You are already managing EMIs, rent, LIC, MFs, and gold purchase every month. Also, you are considering buying another house.

Let us now go step-by-step and review your financial situation.

We will assess each part and then create a 360-degree saving plan.

Income Overview
Your monthly salary is Rs. 2.48 lakhs.

You also earn Rs. 27,000 from house rent.

So, total monthly inflow is around Rs. 2.75 lakhs.

This is a strong inflow. Good job on maintaining dual income sources.

Monthly Commitments
Home loan EMI is Rs. 52,000.

Car loan EMI is Rs. 13,600.

House rent is Rs. 34,000.

LIC premium is Rs. 10,000.

Monthly SIP in mutual funds is Rs. 10,000.

Monthly gold purchase is Rs. 25,000.

So total outgo is about Rs. 1.44 lakhs.

This leaves you with around Rs. 1.31 lakhs monthly surplus.

This gives you a good scope to plan your savings better.

Assessment of Current Expenses
Let us evaluate the quality of expenses.

House EMI is okay. But this home gives rent of only Rs. 27,000.

You live on rent paying Rs. 34,000. There is a mismatch here.

Car EMI of Rs. 13,600 is manageable, but it reduces flexibility.

LIC premium of Rs. 10,000 is a concern. It is most likely a traditional plan or investment-cum-insurance. Returns will be low. Around 4% to 5% only.

Gold purchase of Rs. 25,000 per month is very high. Unless for marriage or jewellery needs, this is not efficient.

Mutual Fund SIP of Rs. 10,000 is low compared to your capacity.

Let’s now create an optimised plan.

Action Plan: Protection Comes First
You must ensure life insurance. But not through LIC traditional plans.

You may already have term insurance from employer. Please check.

If not, take term insurance with cover of 15 to 20 times your annual income.

Cancel LIC traditional plans if it is a low-return policy. Reinvest surrender value in mutual funds.

Also take health insurance for self and family. Employer policy may not be enough.

Consider critical illness cover as well.

Rebalancing Current Investments
You are putting Rs. 25,000 in gold.

This may be emotional or cultural. But gold should not be your main savings.

Keep gold to 5-10% of total portfolio.

Reduce monthly gold savings to Rs. 10,000.

Redirect Rs. 15,000 to mutual funds.

You have LIC policies of Rs. 10,000 monthly.

If they are traditional or endowment or ULIP plans, please review surrender value.

Once surrendered, invest the value in lump sum in mutual funds.

Also stop future premiums and shift monthly amount to mutual funds.

Mutual Funds Strategy
Right now, you are investing only Rs. 10,000 per month in mutual funds.

That’s too low compared to your earning power.

After reducing gold and LIC, your mutual fund SIP can become Rs. 35,000.

Use well-diversified equity mutual funds for long-term wealth creation.

Mix large-cap, flexi-cap, and balanced advantage funds.

Prefer regular mutual funds through MFDs guided by a Certified Financial Planner.

Regular funds give you dedicated service, portfolio review, emotional coaching, and tracking.

Direct funds miss out on personalised advice and behavioural guidance.

So, regular funds are better for long-term investors who seek ongoing monitoring.

Emergency Fund Setup
It is important to have an emergency fund.

This helps when job loss or major health issue happens.

Keep at least 6 months of expenses as liquid money.

Keep this in bank FD or liquid mutual fund.

Don’t touch this money unless needed.

Goal Planning
Now let us align savings with future goals.

You already have one house on loan.

You plan to buy another house for Rs. 90 lakhs.

This can strain your finances.

Let's think carefully before taking another big loan.

Problems with second home loan:

EMI will be high. May reduce flexibility.

Rental yield is low. Around 2% only.

Maintenance, tax, and loan interest will reduce returns.

Real estate is not liquid. Can’t sell quickly when needed.

Too much debt can impact credit score and peace of mind.

So instead of buying second house, focus on building wealth through mutual funds.

But if buying is important due to emotional or family needs:

Take a smaller loan with bigger down payment.

Keep EMI within 35% of your monthly income.

Ensure you have emergency fund and insurance before taking loan.

Don’t stop your mutual fund SIPs for paying home loan.

Tax Planning Insights
You have house loan, LIC, and mutual funds.

Use these smartly to reduce tax.

Claim home loan interest under section 24 up to Rs. 2 lakhs.

Principal under 80C. LIC may give benefit, but return is low.

Mutual fund ELSS gives tax benefit under 80C. Better return.

Invest in tax-saving mutual funds instead of insurance-based products.

If you sell mutual funds, consider new tax rules:

Equity funds: LTCG above Rs. 1.25 lakh taxed at 12.5%.

STCG taxed at 20%.

Debt funds: taxed as per income slab.

Children’s Future and Retirement
You are 38 now. Plan retirement and children’s education now itself.

Use mutual funds with clear goal tagging.

Have separate SIPs for:

Retirement goal

Child higher education

Family travel or any large expenses

This helps you track and stay committed.

Summary of Monthly Savings Plan
Based on above assessment:

Salary + Rent: Rs. 2.75 lakhs

Total EMIs + Rent + LIC + Gold + SIP: Rs. 1.44 lakhs

Optimised Plan:

Stop LIC (Rs. 10,000) and reinvest

Reduce gold to Rs. 10,000

Increase mutual fund SIPs to Rs. 35,000+

Keep Rs. 10,000 aside for emergency fund till 6-month fund is ready

Continue Rs. 25,000 in hand as buffer for other needs

This way, you balance lifestyle, protection, and growth.

Final Insights
You have good income. You also have the right intention to grow wealth.

But few areas need fine-tuning.

Avoid too much real estate exposure.

Avoid mixing insurance with investments.

Avoid high gold allocation.

Avoid loans that stretch your savings.

Focus more on mutual fund investments.

Stay guided by Certified Financial Planner.

Track your goals once a year.

Your money can do more. Just align it with purpose, not products.

Best Regards,

K. Ramalingam, MBA, CFP,

Chief Financial Planner,

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

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Sir I am getting Cse in MAIT and Coe in thapar University. Which one should I take in terms of placements and better future options.
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Sir o got seat on iit jodhpur in chemical engineering. I got 13500rank in jee main with general category nuteral genders should i accept jossa seat or go for further csab round ,i have the chance of MNC in iiit Gwalior and EE in MNIT allahabad etc
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Nayagam P P  |9010 Answers  |Ask -

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Sir I am getting ECE at SOA ITER How is it can you tell me about it?
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Nayagam P

Nayagam P P  |9010 Answers  |Ask -

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Asked by Anonymous - Jul 17, 2025Hindi
Career
Sir My son gor 236 marks jn bitsat jn which pilani civil is getting But in mhcwt he got 99.30 percentile and cap round is pending Pls guide shall i loack lolani or i have xhance to get good subject in maharshtra
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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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