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Omkeshwar

Omkeshwar Singh  | Answer  |Ask -

Head, Rank MF - Answered on Nov 18, 2022

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Surapaneni Question by Surapaneni on Nov 18, 2022Translate
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Please find my current investments. Kindly give your expert opinion on the below.

1. Mirae asset emerging blue chip fund - 5000 pm (regular plan from 2017)

2. Canara Robeco Emerging Equities - 1500 pm (regular plan from 2018)

3. Nippon small cap fund - 1500 pm (regular plan from 2018)

4. HDFC Index fund - 2100 pm (direct plan from 2022)

5. Parag Parikh Flexi cap fund - 2100 pm (direct plan from Jan 2022)

6. Axis Growth Opportunities Growth - 2100 pm (direct plan from Jan 2022)

LIC Jeevan Umang 1 lakh per year for 15 years (already paid for 4 years). Have health and term insurance.

Wanted to invest for my kid's future -- higher studies, marriage; she is 8 months old now. Since I need that money after 18+ years and I can take risk, I request to please suggest any small or mid cap mutual funds.

Ans: A few Mid and Small Cap funds are as under

HDFC Mid cap opportunities fund – Growth

Kotak Emerging Equity Fund – Growth

SBI Small Cap fund – Growth

UTI Small Cap fund - Growth

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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Omkeshwar

Omkeshwar Singh  | Answer  |Ask -

Head, Rank MF - Answered on Jun 08, 2021

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Sir, recently I have started to invest in Mutual funds. Below funds i have invested please suggest are those are right selection. If not, please suggest which fund I will invest in for the next 13 yrs. For Retirement - next 13 yrs i will invest 1 Axis Bluechip fund direct plan - growth 1000/- 2 SBI Magnum Medium Duration fund direct -growth -3000/- 3 ICICI asset allocator fund FOF direct - growth - 7000/- 4 ICICI Prudential Saving fund direct plan - growth - 3000/- 5 Tata Retirement saving fund progressive P D- growth - 1000/- 6 L&T Midcap fund direct - growth - 1000/- 7 canara Robeco Emerging equities fund direct - growth - 1000/- For Child Education (next 12 yrs) 1 canara robeco Aggressive hybrid fund - 3000 /- 2 Axis midcap fund - 3000/-  3 Nippon india Multi cap fund - 2000/- Also need to start two more SIPs about 3500 and 2500 for 14yrs and 17 yrs target for kids’ marriage. Please suggest a fund for marriage goals.  Also need to invest a lump sum of 750,000/- for child education for which fund I will select, the duration minimum should be 7yrs or max 10 yrs for investment? Please suggest above funds are the right section or not? If not please suggest which fund I will refer to for retirement and Child education.
Ans:

For Retirement: Need to do investments in Equity Oriented funds so that a decent corpus can be created.

You may continue with 1, 3 and 7 and for rest below can be considered

a)   UTI Flexi Cap – Growth

b)  Parag Parikh Flexi- Cap Growth

c)   Axis ESG Equity Fund – Growth

d)  DSP Mid Cap Fund – Growth

For Child’s Education:  You may continue with 1 and 2 and consider adding Motilal Oswal Focused- 25 Fund – Growth

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Moneywize

Moneywize   |66 Answers  |Ask -

Financial Planner - Answered on Mar 03, 2024

Asked by Anonymous - Mar 03, 2024Translate
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I'm contemplating a career change in my late 30s, earning Rs 14 lakhs annually. How can I navigate this transition while ensuring financial stability and working towards long-term goals such as retirement?
Ans: Transitioning to a new career in your late 30s while maintaining financial stability and planning for long-term goals like retirement requires careful consideration and planning. Here are some steps you can take to navigate this transition effectively:

1. Assess Your Skills and Interests: Reflect on your skills, interests, and values to identify potential new career paths that align with your strengths and passions. Consider seeking career counseling or taking career assessment tests to explore different options.

2. Research Potential Careers: Conduct thorough research on the industries and roles you're interested in pursuing. Look into job market demand, salary potential, and growth opportunities to ensure your chosen career path is financially viable.

3. Skill Development and Education: Determine if you need to acquire new skills or education to transition into your desired field. This could involve enrolling in courses, obtaining certifications, or pursuing higher education such as a degree or specialised training programme.

4. Financial Planning: Evaluate your current financial situation and create a budget to understand your income, expenses, and savings. Factor in any potential changes in income or expenses associated with your career transition. Consider setting aside an emergency fund to cover unexpected expenses.

5. Debt Management: If you have any outstanding debts, develop a plan to manage and pay them off efficiently. Prioritise high-interest debts like credit card debt while maintaining minimum payments on other loans.

6. Retirement Planning: Review your retirement savings accounts like the EPF, and assess whether you're on track to meet your long-term retirement goals. Consider consulting a financial advisor to develop a personalised retirement plan based on your age, income, risk tolerance, and retirement objectives.

7. Health Insurance and Benefits: Evaluate the health insurance and other benefits offered by your new employer, if applicable. Ensure you understand the coverage provided and any associated costs. If transitioning to self-employment or freelancing, research options for obtaining health insurance coverage independently.

8. Networking and Building Connections: Network with professionals in your desired industry to gain insights, advice, and potential job opportunities. Attend industry events, join professional associations, and leverage online networking platforms like LinkedIn to expand your network.

9. Side Hustle or Freelancing: Consider starting a side hustle or freelancing in your desired field while maintaining your current job. This can provide additional income, valuable experience, and a smoother transition into your new career.

10. Evaluate Risks and Rewards: Assess the risks and rewards associated with your career change, including potential income fluctuations, job stability, and work-life balance. Be prepared to adapt and make adjustments as needed throughout the transition process.

By following these steps and carefully planning your career transition, you can navigate the change while maintaining financial stability and working towards your long-term goals, including retirement.
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General Physician - Answered on Mar 03, 2024

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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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