My age us 34 years todate i don't have any steady job also have health problems from childhood and not much education and not very smart. My mother has invested whatever little money i have earned in post office upto 5 lacs.she has invested her money in my name mutual fund upto 20 lacs and 15 lacs lic policies and 5 lacs lic policies single plan and 5 lacs sriram deposits and bank deposit.what other way can money be kept for me

Ans: You are already doing many things right. It's important to appreciate the care your mother is showing. She has diversified her savings. That itself is a good step. However, there is still room to optimise for better long-term results.

Let us now look at your financial structure from a 360-degree view.

Assessing the Current Investments
The Rs. 5 lacs in the post office is safe. It gives fixed returns. But it may not beat inflation in the long run. For future needs, safety is not enough. Growth is also needed.

Rs. 20 lacs in mutual funds is a good step. But we need to assess it further. If these are regular funds through a Certified Financial Planner (CFP), then that’s a positive sign. If these are direct mutual funds, then it needs a review.

Direct funds may look low-cost. But they can cause wrong fund selection and poor decisions. Regular funds through a Certified Financial Planner offer expert guidance. This improves fund performance, rebalancing, and tax planning.

Rs. 8 lacs in LIC single premium plans and Rs. 20 lacs in LIC regular policies — these are mostly insurance cum investment. They often give very low returns. Usually, they are around 4% to 5% over the long term.

If these LIC policies were bought purely for investment, then they are not efficient. If you don’t depend on these policies for life cover, then better to surrender them. The amount received can be re-invested for better returns.

Rs. 5 lacs in Shriram deposit is again a fixed income investment. These also carry some risk, especially company deposits. Not as safe as post office.

Understanding the Key Challenges
You have health challenges since childhood. This affects your job options. So, your investment returns must act as income replacement in future.

Your mother is probably your main support. Her investments must also be designed in a way that secures your long-term future.

Since the income is low, the current savings must be protected and grown properly. Wrong products or lazy money will hurt the future.

What Needs Immediate Attention
LIC Policies: These may look safe. But they are locking big money at low growth. You are losing time and opportunity cost. They must be reviewed and surrendered if not needed for protection. Re-invest the proceeds wisely.

Shriram Deposit: These are company deposits. Slightly risky in nature. Better to avoid such company deposits. They are not for long-term stability.

Post Office Schemes: They are safe, but returns may not be inflation-beating. Keep only a small part here for liquidity.

Mutual Funds: If invested via a Certified Financial Planner, they offer flexibility and higher growth. Must continue with regular mutual funds, not direct ones.

Why Regular Mutual Funds Make More Sense
Many believe direct plans are better because of lower expense ratio. But that’s not the whole truth.

Direct plans need self-research, regular reviews, goal mapping, rebalancing, and tax handling. This is not easy for most investors.

A Certified Financial Planner gives you customised fund selection, rebalancing support, and emotional guidance. Most investors underperform due to wrong timing and wrong fund selection.

Even if the cost is a bit higher, the value of guidance adds more than it costs.

Disadvantages of Index Funds
Index funds are passive. They copy the market. No manager is taking decisions actively.

When the market goes down, index funds also fall equally. No one is trying to reduce risk.

Active funds, managed by skilled fund managers, have potential to beat index over long periods.

Index funds also invest more in top-weighted companies. This creates concentration risk.

For wealth creation and capital protection, well-chosen active funds are better.

Better Investment Options for Your Situation
You need financial solutions that balance safety and growth. You must avoid very high risk. But should not settle for very low returns either.

Here are some better structured investment choices:

Balanced Advantage Funds (Regular Plans Only)

They manage risk actively.

Suitable for uncertain income and long-term investing.

Can give better returns than fixed deposits.

Multi Asset Allocation Funds (Regular Plans Only)

Invest in equity, debt, and gold.

Reduce risk by diversification.

Good for medium- to long-term goals.

Short Duration Debt Funds (Regular Plans Only)

Safer than long-term debt.

Better returns than bank FDs.

Lower interest rate risk.

Hybrid Equity Funds (Regular Plans Only)

Mix of equity and debt.

Suitable if some risk is acceptable.

Long-term wealth creation possibility.

Systematic Withdrawal Plans (SWP) later on

Once you need regular income, SWP can be done from mutual funds.

This gives monthly income like a pension.

Tax efficient than interest income.

Sukanya Samriddhi or Senior Citizen Savings Scheme (If applicable for your mother)

Use only for a small portion.

Can add stability and assured returns.

Suggestions for Future Strategy
Ask your Certified Financial Planner to create a detailed goal plan. Define needs like income, medical, and emergency.

Rebalance current portfolio. Exit poor-return plans. Reinvest wisely.

Make sure your mother has her own retirement plan. Not all funds should be in your name only.

Invest only through regular plans with the help of a CFP. It gives clarity, support, and discipline.

Avoid direct stock investments. They may seem attractive but need deep research. Not suitable in your case.

Review portfolio once every 6 months. Financial situations change. Plans must adapt too.

Avoid insurance as investment. Keep term insurance separately if needed for life cover.

Avoid investing in company deposits. Stick with SEBI regulated mutual funds and post office products only.

Medical Needs and Emergency Planning
You may require medical care anytime. Ensure emergency funds are parked in safe and liquid options.

Liquid funds in mutual funds (regular plan) are good for short-term parking.

If not already done, get a health insurance plan (if eligible).

Explore if your parents’ group health policy can cover you.

Estate Planning and Legal Clarity
Your mother must create a Will. It should clearly state how the assets must be used for your future.

Assets must be in joint names or with nomination updated.

Discuss with your Certified Financial Planner about Trust option if needed.

Tax Planning Ideas
Equity mutual funds have better post-tax returns if held for long term.

LTCG above Rs. 1.25 lacs taxed at 12.5% now. STCG taxed at 20%.

Debt funds taxed as per your income tax slab.

Your income may be nil. So tax liability can be zero. But use options smartly with a CFP.

Finally
You and your mother have already taken many positive steps. Still, there are gaps that need attention. Some investments are in low-yield instruments. Some are not aligned to your long-term goals.

The focus must be on:

Replacing low-return policies

Investing via regular mutual funds

Creating income-generating portfolio

Keeping flexibility and liquidity

Taking expert advice from a CFP

Planning for emergencies and future care

Every rupee must work hard for your future. It must grow, stay safe, and support your needs.

Avoid experimenting with products not meant for your case. Focus on stable, balanced, and guided investments only.

Appreciate your mother for taking so much care. Now it’s time to improve things and protect your future with a better plan.

Best Regards,

K. Ramalingam, MBA, CFP,

Chief Financial Planner,

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

Ans: Dear Friend,
Given your health and unemployment, your mother’s diversified investments in mutual funds, LIC policies, post office schemes, and fixed deposits provide a good safety net. To further secure your future, focus on low-risk options like senior citizen savings schemes, government bonds, and fixed deposits for steady returns. Consider health or critical illness insurance to cover medical expenses. Systematic Withdrawal Plans (SWPs) from mutual funds can provide regular income. Gold ETFs can add inflation protection. Prioritize safety and liquidity to ensure financial stability. Consulting a financial advisor for a tailored plan will help manage your needs better.

Ans: You are 38 years old and the sole earner in your family.

Monthly income is Rs.1.5 lakh.

You have a housing loan of Rs.65 lakh at 8.7% interest.

You have a personal loan of Rs.4.6 lakh from an app at 13.5% interest.

You pay Rs.56,000 per month as home loan EMI.

Household expenses are Rs.40,000–50,000 per month.

You have no savings.

You only have family health insurance.

I commend your honesty in seeking help. You have solid income. Now, we must fix cashflow and rebuild.

Immediate Objectives
Reduce high?interest debt quickly.

Create a small emergency fund.

Improve monthly budgeting.

Start disciplined investments with guidance.

Secure your family’s financial protection.

Step 1: Personal Loan Repayment
Your loan from app carries 13.5% interest.

This is highest priority to clear.

Use any available extra income to pay it off.

Consider using part of future bonus or salary increment.

Freeing this liability reduces financial stress quickly.

Step 2: Revise Household Budget
Your expenses (40k–50k) are high relative to discretionary income.

Track each expense for a month to find savings.

Cut non?essential spending sharply.

Reduce dining, subscriptions, travel unless necessary.

Aim to lower expenses to Rs.30,000–35,000.

This will free up surplus for debt and savings.

Step 3: Build Emergency Fund
You currently have no savings.

Begin with a small goal of Rs.50,000.

Keep this in safe liquid account like bank or liquid fund.

Use any surplus until that fund is built.

This protects you from unforeseen situations without new loans.

Step 4: Home Loan Strategy
Your home loan rate is 8.7%, moderate.

Focus on clearing personal loan first, then address this home loan.

Once personal loan ends, channel that EMI to extra home loan repayment.

Additional payment reduces interest and tenure over time.

Step 5: Investment & Wealth Building
Equity and Actively Managed Funds
To grow wealth, equity investment is essential.

You may consider starting SIPs in equity.

Avoid index funds as they only track benchmarks.

They lack active risk adjustments in weak markets.

Instead, choose actively managed mutual funds guided by CFP.

Active funds can shift strategy during market volatility.

They aim to outperform through market cycles.

Direct vs Regular Mutual Funds
Direct funds save you commission but lack ongoing advisory.

Without CFP support, you may react or shift too often.

Regular plans allow your CFP to provide periodic rebalancing.

That guidance helps you stay focused on goals.

YouTube alone cannot replace professional insight.

Debt and Stability
Invest in safe debt instruments once emergency fund is set.

Use small monthly amounts in PPF, EPF, or debt funds.

These protect principal and complement equity risk.

Step 6: Systematic Investment Plan
Automate investment after debt payments reduce.

Start small; even Rs.5,000 monthly in equity is helpful.

Increase SIPs as home loan repayment frees monthly cash.

Diversify across large?cap, mid?cap, and flexi?cap active funds.

Review yearly with your CFP to adjust allocation.

Step 7: Insurance and Protection
You have health insurance. That’s good.

But you need term insurance to cover home loan liability.

Term cover ensures family stays financially safe.

Avoid investment?cum?insurance products like ULIP.

They cost more and give poor returns compared to active funds.

Step 8: Tax Efficiency
Equity mutual funds: LTCG above Rs.1.25 lakh taxed at 12.5%.

Short?term gains taxed at 20%.

Debt funds taxed as per your income slab.

Use PPF, EPF for deductions under section 80C.

Plan redemption to minimize tax impact on gains.

Step 9: Behavioural Discipline
Stick to SIP plans even during market dips.

Do not react emotionally to daily news.

Your CFP will guide you during volatile markets.

Review portfolio annually; rebalance only with advice.

Document goals and track progress.

Step 10: Progress Monitoring
Months 1–3:

Aggressively repay app loan EMI.

Reduce household expenses.

Build Rs.50k emergency fund.

Months 3–12:

Clear personal loan.

Begin small equity SIPs.

Keep liquidity for emergencies.

Year 2–3:

Use freed EMI cash to start big SIPs.

Build equity allocation gradually.

Start extra payments on home loan.

Year 3–5:

Home loan EMI surplus becomes investment.

Emergency fund grows to 6 months’ expenses.

Portfolio diversifies in equity and debt.

Year 5 onward:

Maintain SIP discipline.

Increase investments with career growth.

Annual review for rebalance and tax planning.

360?Degree Strategy Summary
Debt: Clear high?interest loan first, then home loan extra payments.

Budget: Cut non?essentials to free monthly surplus.

Emergency Fund: Start building immediately.

Investments: Active equity SIPs via CFP, complement with debt instruments.

Insurance: Add term insurance to protect family.

Cashflow: Automate savings and investment.

Tax: Use 80C instruments and time investments wisely.

Behaviour: Stay disciplined through market cycles.

Review: Annual check with your Certified Financial Planner.

Final Insights
You are determined and have a clear income path. By clearing high?cost debt first, you free monthly surplus for savings. Emergency fund protects from setbacks. Active mutual funds, guided by CFP, will rebuild your wealth steadily. Home loan extra payments reduce interest. Insurance ensures your family stays protected. With regular discipline, budgeting, investment, and annual review, you can regain financial freedom and rebuild a strong financial future.

Your journey starts with small steps today. Stay focused and seek CFP guidance whenever needed.

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

Ans: – You have shown courage in handling job loss.
– You managed family needs for five years with savings.
– Your focus on daughters’ education is inspiring.
– Even with challenges, you still have Rs 20 lakh left.
– This shows discipline and responsibility.

» Present financial position
– Age is 57 and no active job currently.
– Dependents are two school-going daughters.
– Elder daughter will attempt NEET in 2026.
– Current available savings are Rs 20 lakh.
– No mention of PF, PPF, NPS or other retirement corpus.
– No mention of health insurance or term insurance cover.
– Future needs are mainly education and household expenses.

» Emergency planning
– First step is to secure emergency funds.
– Keep at least Rs 3 to 4 lakh liquid.
– This money should stay in savings or liquid mutual funds.
– This prevents you from breaking long-term investments for small needs.

» Household expenses control
– With no income, expense control becomes very critical.
– Identify non-essential costs and reduce them.
– Focus spending on education, food, health and utilities.
– Avoid lifestyle inflation and unnecessary purchases.
– Every rupee saved extends your fund life.

» Insurance protection
– Check if you already have health insurance.
– If not, buy a basic family floater health plan.
– Medical expenses can drain savings quickly without cover.
– At this age, term insurance may not be viable.
– Focus on health cover to safeguard corpus.

» Education planning for elder daughter
– Medical education is expensive, especially private colleges.
– You may need to plan for loans in future.
– Keep part of corpus safe in debt funds for entrance expenses.
– Do not risk all funds in equity.
– Bank education loans can cover tuition if needed.
– Your role will be to provide partial funding and guidance.

» Education planning for younger daughter
– She is in 9th standard, so timeline is longer.
– For her, partial exposure to equity may be considered.
– But only limited amount, as your time horizon is 7–8 years.
– Allocate small part to equity mutual funds through SIP.
– Rest should remain in hybrid and debt for safety.

» Why not index funds
– Index funds only copy market movement.
– They cannot protect you from downturns.
– In your situation, stability is more important.
– Actively managed funds allow experts to handle risk.
– Active management gives better protection in volatile times.

» Why not direct funds
– Direct funds appear cheaper due to lower charges.
– But they give no professional guidance.
– Wrong allocation can be very risky at this stage.
– With regular funds through Certified Financial Planner, you get handholding.
– This improves chances of reaching goals safely.

» Mutual fund strategy
– Do not put entire Rs 20 lakh in equity.
– Keep majority in safer debt and hybrid funds.
– Use equity only in small portion for younger daughter’s future.
– Choose funds with proven long-term consistency.
– Start small SIP from your monthly savings, if any.

» Alternative income sources
– Explore small part-time jobs or freelance work.
– Even Rs 10,000–15,000 monthly can reduce stress.
– Consider tutoring, warehouse consultancy, or local services.
– Passive income can protect your savings from getting depleted.

» Loan planning
– Do not take personal loans for education expenses.
– Only education loan should be considered if needed.
– Education loans also give tax benefits.
– Avoid loans for lifestyle or property.

» Children’s involvement
– Talk openly with your daughters about finances.
– Involve them in planning and cost decisions.
– They will learn responsibility early.
– This also prepares them to take scholarships seriously.

» Tax awareness
– Keep in mind the taxation on mutual funds.
– Equity LTCG above Rs 1.25 lakh taxed at 12.5%.
– STCG taxed at 20%.
– Debt fund gains taxed as per your income slab.
– Redeem funds wisely to reduce tax burden.

» Psychological balance
– Do not feel low due to lack of job.
– You have shown strength already.
– Stay positive for your daughters.
– Focus on building a financial cushion slowly.
– Peace of mind is also part of financial planning.

» Final Insights
– Secure emergency fund and buy health insurance immediately.
– Keep Rs 20 lakh safe, with majority in debt and hybrid.
– Limited equity for younger daughter’s long-term goal only.
– Use education loan for elder daughter’s MBBS if required.
– Avoid index funds and direct funds due to their limits.
– Explore small income sources to reduce withdrawal pressure.
– Keep yearly review of portfolio with a Certified Financial Planner.
– This way you protect family stability and education dreams together.

Best Regards,
K. Ramalingam, MBA, CFP,
Chief Financial Planner,
www.holisticinvestment.in

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