I am an employee of central govt. PSU. My family consists of myself, spouse, two minor children and mother. I am covered by a corporate group medical insurance policy for Rs 2 lakh with an additional emergency coverage of Rs 4 lakh by the employer.

I also have a personal Family Floater policy for Rs 3 lakh and a Sr. Ctzn. Policy for Rs 1 lakh.

I have not used the personal policies till date for any hospitalisation claim.

I am aware that a claim exceeding the corporate policy limit can be claimed in the personal policy. Recently I was made to know that any planned hospitalisation exceeding the corporate claim limit, cannot be done using the second policy.

I also know that there is a product called as top up policy which can be used in such cases.

I have 8 years of remaining service where there is a medical insurance cover during the period.

After retirement, the employer provides a basic policy of 1.5 lakh for the family. The same feels to be insufficient in today’s times.

What would be your advice with regards to the existing medical insurance policies and their amounts? Should I need to undertake any tweaking of the policy amounts or switch to a top up policy?

Ans: HI SRIJAN,
Being you belong to the general category, it's difficult to secure a seat in the government colleges. Try for the private colleges. Do participate in the counseling process to get more updates.
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Ans: HI,
Generalizing universities is a waste of effort. When making comparisons, it’s important to focus on similar courses, as each university offers different programs. This makes it very difficult to draw direct comparisons. Additionally, you may have recently heard criticisms regarding NAAC.
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Ans: HI KAMAL,
Which program are you referring to? Please consider that both are private universities. It would be best to compare them based on the specific programs rather than the universities as a whole.
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Ans: HI Srijan,
Kindly share your category details.
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Ans: Hello Dear.
Both chemical engineering and ECE are different branches with their own applications and opportunities. Your interest is most important here. RGPIT is a reputed institute. If you're interested in chemical engineering, you can choose it here; otherwise, go with ECE based on your decision. However, opting for chemical engineering may be more advisable for you. The final choice, of course, will be yours.

Good luck.
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Radheshyam

Ans: You are 46 years old and saving Rs.10,000 every month. You want to create a strong investment plan for the next 10 years. You do not have much existing savings. That’s perfectly okay. You are ready to act now. That’s what matters.

Here is a detailed, simple, and practical 360-degree plan.

? Understand your financial starting point
– You are 46 years old, working in private sector.
– You are able to save Rs.10,000 monthly.
– You have minimal past savings or investments.
– You have not mentioned any LIC, ULIP, or insurance-based investments.
– You are now planning for a better financial future in 10 years.

That’s a great and timely decision.

? Clarify your financial goals
– Think about what you want after 10 years.
– Is it retirement? Or a second income source?
– Or your child’s higher education or marriage?
– Having a clear goal helps in better investment planning.
– You can define your goal in simple terms.
– Also, prioritise between must-have goals and good-to-have goals.

This brings better clarity and commitment.

? Monthly savings are your superpower
– Rs.10,000/month may look small. But it’s powerful.
– In 10 years, it can create meaningful wealth.
– Consistency is more important than amount.
– Keep saving without breaks.
– Even in tough months, try not to skip SIPs.

Discipline is your biggest strength now.

? Emergency fund is your safety net
– You should first build a safety buffer.
– Set aside 6 months of your monthly expenses.
– If monthly expense is Rs.30,000, build Rs.1.8 lakh buffer.
– Start with Rs.1 lakh in savings and liquid fund.
– Keep 30% in savings bank. Keep 70% in liquid fund.
– Avoid fixed deposits. Early withdrawal charges reduce returns.
– Liquid funds are better than savings.
– They offer next-day withdrawal and better returns.

Build emergency fund first. Then start investing for long-term goals.

? Avoid index funds for long-term wealth creation
– Index funds are unmanaged. They just copy the market index.
– They don’t protect you during falling markets.
– They drop fast during crashes.
– They don’t adjust to changing market conditions.
– You need smart fund management for long-term growth.
– Actively managed funds are better.
– They are run by professional fund managers.
– These managers buy or sell based on research.
– You benefit from their market insights.
– In India, actively managed funds have outperformed index funds.

Index funds may look cheap. But they cost returns in long run.

? Avoid direct plans if you are not an expert
– Direct plans don’t give you guidance.
– You must decide fund, amount, changes, rebalancing – all on your own.
– No help during volatile markets.
– No suggestions when your goals change.
– Regular plans through a Certified Financial Planner (CFP) give guidance.
– You get support in fund selection and goal planning.
– CFPs help you avoid costly mistakes.
– They also review your portfolio regularly.
– Regular plans help you stay invested calmly.
– Investing is not just numbers. It’s also behaviour.

Handholding matters more than small expense ratio difference.

? Begin with 2–3 strong equity mutual funds
– Start with only 2 or 3 diversified equity funds.
– Choose Flexi Cap and Large & Midcap categories.
– These give good mix of large and mid companies.
– Add a Balanced Advantage Fund for market stability.
– These funds shift between equity and debt automatically.
– You don’t need to monitor markets daily.
– Avoid sector funds, international funds, thematic funds.
– They are risky and not suitable for your stage.
– Don’t try to pick many funds.
– Few good funds are enough.

Over-diversification leads to confusion, not better returns.

? Allocate SIP amounts with simplicity
– You can start SIP of Rs.4,000 in Flexi Cap fund.
– Rs.3,000 in Large & Midcap fund.
– Rs.3,000 in Balanced Advantage fund.
– Total = Rs.10,000/month.

This is simple and powerful allocation.

? Increase SIPs every year
– Try to increase your SIPs by 5–10% yearly.
– If income rises, increase investments first before expenses.
– Even Rs.1,000 extra per year makes a big difference.
– Over 10 years, this boosts final corpus strongly.

Growth in SIP is more important than one-time investments.

? Keep equity investments long term
– Don’t withdraw before 10 years.
– Let the money grow through compounding.
– Equity markets have ups and downs.
– But they reward patient investors over time.
– If you panic in short term, you lose returns.

Time is your best friend in equity.

? Avoid investment-linked insurance policies
– Don’t mix insurance with investment.
– LIC policies, endowment plans, ULIPs give poor returns.
– They promise returns, but deliver less than inflation.
– Keep insurance separate and simple.
– Buy term insurance if not already taken.
– Premium is low, cover is high.

Investment-cum-insurance products dilute both goals.

? Review portfolio every year
– Fund performance must be tracked once a year.
– Change the fund if it underperforms for 2 years.
– Rebalance if one fund grows too big.
– Your Certified Financial Planner will help with review.
– Don’t switch funds often. Review, not react.

Long-term success comes from patience and planning.

? Understand tax impact of mutual funds
– Long Term Capital Gains above Rs.1.25 lakh are taxed at 12.5%.
– Short Term Capital Gains are taxed at 20%.
– For debt funds, both gains are taxed as per your tax slab.
– Plan your withdrawals smartly.
– Take help of your CFP before redeeming.

Tax planning can save you big money.

? Stay away from risky investments
– Don’t invest in stock tips or small companies.
– Don’t try F&O or day trading.
– Stay away from chit funds and ponzi schemes.
– Don’t follow friends or relatives blindly.

Stick to mutual funds with professional guidance.

? Stay consistent with your plan
– Don’t stop SIPs due to short-term events.
– Avoid taking emotional decisions based on news.
– Focus on your goals, not market noise.
– Investing is like growing a tree.
– Give time, water it regularly, don’t uproot.

Consistency builds wealth quietly and surely.

? Create financial discipline in your life
– Avoid unnecessary expenses.
– Track your income and spending.
– Set automatic SIPs.
– Pay off credit card bills fully.
– Don’t take loans for gadgets or travel.
– Start saving before spending.

Good habits support good investments.

? Finally
– You are starting at 46, but that’s not late.
– Many people don’t start at all.
– Rs.10,000/month for 10 years with right discipline is powerful.
– Focus on quality funds.
– Stick to your goals.
– Review annually.
– Stay invested with the help of a Certified Financial Planner.
– Avoid direct plans if you’re not hands-on.
– Avoid index funds.
– Build emergency fund first.
– Increase SIP yearly.
– Don’t stop investing.
– Your 10-year wealth plan is now in motion.

Let your money work quietly. You stay focused and calm.

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

Ans: Hello dear.
Your question is unclear to me. Please ask again.

Ans: Hell Aluri
Yes. RVCE is a good choice. You can take admission without any hesitation.

Good luck.
Follow me if you receive this reply.
Radheshyam

Ans: Hello Heu,

First and foremost, thank you for getting in touch with us. To answer your question first, I would like to let you know that outstanding Computer Science (CS) programs are offered at both PES (PES University) and BMS (BMS College of Engineering), nevertheless, they vary in particular aspects. People's Education Society is renowned for its state-of-the-art infrastructure, industry-oriented syllabus, as well as robust placement outcomes, particularly in technology firms. BMS College of Engineering, on the other hand, has a long-standing legacy, distinguished faculty, and a robust alumni community that aids with both placements and internships. Lastly, I would like to tell you that if a more competitive, technology-focused setting is what you prefer, then PES may be an ideal match, whereas BMS provides a holistic learning experience supported by foundational knowledge.

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