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Ramalingam

Ramalingam Kalirajan  |6625 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on Apr 24, 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 - Apr 20, 2024Hindi
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Hello sir, I am 33yr old. I have a salary of 50k/month. I m living in rented house 8k/month. And SIP of 5k/month. Other expenses of 5-8k/month. Please suggest financial planning. And wanted to buy house.

Ans: It's great that you're thinking about financial planning at 33. Let's craft a strategy tailored to your needs and goals.

Emergency Fund:
Goal: Build an emergency fund equal to 6-12 months of living expenses.
Action: Allocate a portion of your savings monthly until you reach this target. Aim to have this fund in a liquid and easily accessible account.
SIPs & Investments:
Current SIP: 5k/month
Action: Consider increasing your SIP amount as your income grows. Diversify investments across equity, debt, and other asset classes to manage risk and achieve growth.
Home Purchase:
Goal: Buy a house.
Action: Start saving for a down payment. Consider your current expenses and see where you can cut back or increase savings. Also, explore home loan options to understand the amount you'd need to borrow and the EMI you'd be comfortable with.
Retirement Planning:
Goal: Secure your retirement.
Action: Start an SIP specifically for retirement. The earlier you start, the better. Consider allocating a portion of your monthly savings to this SIP.
Insurance:
Goal: Protect yourself and your loved ones.
Action: Ensure you have health insurance, life insurance, and if possible, disability insurance. Review and update coverage as your circumstances change.
Additional Income:
Goal: Increase income streams.
Action: Explore opportunities for side hustles, freelancing, or upskilling to boost your income.
Budgeting:
Goal: Manage expenses effectively.
Action: Create a monthly budget to track income and expenses. This will help you identify areas where you can save more.
Remember, financial planning is not a one-time activity. It's an ongoing process that requires regular review and adjustments as your life circumstances change. It's also essential to consult with a Certified Financial Planner to ensure your plan aligns with your goals, risk tolerance, and financial situation.
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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Ramalingam

Ramalingam Kalirajan  |6625 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on May 10, 2024

Asked by Anonymous - May 04, 2024Hindi
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I am a software engineer working from last 10 months currently earning 90k per month. How should i save to buy house in the next 3-4 years. My monthly expenses are around 30K. I am doing an SIP of 10k in parag parikh elss tax saver fund for 80C deductions. How should i invest remaining money for my house goal. Considering my father is also working and i will get some support from father.
Ans: To begin, congratulations on your diligent efforts as a software engineer and your commitment to planning for your future. It's commendable that you're thinking ahead about homeownership and seeking advice on financial planning.

Given your current situation, with a steady income and manageable expenses, you're in a good position to save for your house goal. Your SIP in a tax-saving fund is a wise move for optimizing your taxes while also working towards your goal.

Considering a time horizon of 3-4 years, it's essential to balance growth potential with risk. While your father's support is valuable, it's prudent to plan primarily based on your own resources.

For the remaining funds, you might consider a diversified investment approach. Since you've already utilized the 80C benefit, explore other avenues like mutual funds, debt instruments, or balanced funds. These can offer a mix of growth and stability, aligning with your medium-term goal.

Be cautious about direct investments without professional guidance. Working with a Certified Financial Planner can provide personalized advice and help navigate the complexities of the market, maximizing returns while minimizing risks.

Avoiding real estate as an investment option is wise, given its illiquidity and potential volatility. Instead, focus on liquid assets that offer flexibility and easier access to funds when needed.

Remember, consistency is key. Continue to monitor your investments regularly, adjusting them as needed based on market conditions and your evolving financial situation.

Your proactive approach to financial planning sets a strong foundation for achieving your homeownership goal. Keep up the disciplined saving and investing, and you'll be closer to realizing your dream.

Best Regards,

K. Ramalingam, MBA, CFP,

Chief Financial Planner,

www.holisticinvestment.in

..Read more

Ramalingam

Ramalingam Kalirajan  |6625 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on Jul 09, 2024

Asked by Anonymous - Jul 09, 2024Hindi
Money
Hi Sir, my earning is 1.5k pm. My house expenses is around 50k pm and have 2 kids 5 (girl) &2yrs(boy) , i have 10k mf(pm), i have loan (without interest) is around 9lac, how don I plan my finance. Thanks in advance... ????
Ans: Your situation reflects a balanced financial setup, and your desire to plan efficiently for your family’s future is commendable. Let’s delve into a comprehensive financial plan tailored to your needs.

Understanding Your Financial Landscape
You earn Rs. 1.5 lakhs per month and spend Rs. 50,000 on household expenses. This leaves you with Rs. 1 lakh per month for other financial goals and obligations. Your two young children require future financial planning for education and other needs.

You also invest Rs. 10,000 per month in mutual funds and have an interest-free loan of Rs. 9 lakhs.

Cash Flow Management
Effective cash flow management is the cornerstone of any financial plan. With Rs. 50,000 monthly expenses, you have a significant amount left for savings and investments. This positive cash flow is an excellent foundation.

First, let’s prioritize your current commitments and then focus on future goals.

Managing Debt
The interest-free loan of Rs. 9 lakhs is a boon. This reduces the burden compared to interest-bearing loans. Prioritize paying off this debt within a set timeline, ideally 2-3 years. Allocate a fixed amount monthly towards this repayment. Given your current savings potential, allocating Rs. 30,000 monthly will help clear this loan in about 30 months. This disciplined approach will free up more funds for investments later.

Emergency Fund
An emergency fund is crucial for unexpected situations. You should aim to save at least 6 months of your monthly expenses, which totals Rs. 3 lakhs. Given your savings capacity, start by setting aside Rs. 20,000 per month. In 15 months, you will have a sufficient emergency corpus.

Investment Strategy
Mutual Funds
Your current monthly SIP of Rs. 10,000 in mutual funds is a great start. Mutual funds offer a variety of options suitable for different risk appetites and goals.

Equity Mutual Funds
Equity mutual funds are suitable for long-term goals, like your children’s education. These funds have the potential for high returns due to their investment in stocks. With your moderate risk appetite, you can diversify across large-cap, mid-cap, and multi-cap funds. These funds leverage the power of compounding, which can significantly grow your wealth over time.

Debt Mutual Funds
Debt mutual funds are more stable and suitable for short-term goals or as a balance to your equity investments. They invest in fixed-income securities and provide regular income with lower risk compared to equity funds.

Hybrid Mutual Funds
Hybrid funds offer a mix of equity and debt, balancing growth and stability. These are good for investors looking for moderate risk with reasonable returns.

Increasing SIPs
Once your loan is repaid, consider increasing your SIP amount. Gradually increase your SIPs to Rs. 30,000-40,000 per month. This consistent investment will accumulate substantial wealth over the years.

Avoiding Direct Funds
While direct funds might seem cost-effective due to lower expense ratios, they require active management and financial expertise. Regular funds, managed through a Certified Financial Planner, provide professional guidance and active fund management. This can enhance your portfolio performance and align investments with your financial goals.

Children's Education Planning
Education costs are rising, and early planning is crucial.

Child Education Plan
Invest in child education plans offered by mutual funds. These funds are tailored for long-term growth and can help meet significant education expenses. Start with a mix of equity and hybrid funds to balance growth and stability.

Sukanya Samriddhi Yojana
For your daughter, consider the Sukanya Samriddhi Yojana, a government-backed scheme with attractive interest rates and tax benefits. Regular contributions can secure her future education and marriage expenses.

Retirement Planning
Even though retirement might seem distant, starting early ensures a comfortable future.

National Pension System (NPS)
The NPS is an excellent retirement planning tool with tax benefits. Allocate a fixed amount monthly towards NPS. The diversified investment in equity and debt under NPS ensures a balanced growth of your retirement corpus.

Mutual Funds for Retirement
Besides NPS, continue with mutual fund SIPs. Equity mutual funds, over a long horizon, can accumulate substantial wealth. The power of compounding works best with long-term investments, making your retirement corpus grow significantly.

Insurance Planning
Adequate insurance coverage is essential to protect your family’s financial future.

Term Insurance
Ensure you have a term insurance plan covering at least 10-15 times your annual income. This ensures your family’s financial stability in case of any unforeseen event.

Health Insurance
With rising medical costs, having comprehensive health insurance is vital. Ensure your health insurance covers your entire family, including your children. A Rs. 10-20 lakh cover should be adequate given current healthcare inflation.

Long-Term Wealth Creation
Systematic Investment Plans (SIPs)
SIPs are an excellent way to create long-term wealth. They provide the discipline of regular investing and benefit from rupee cost averaging. Increase your SIPs as your income grows and debts reduce. Focus on a diversified portfolio with a mix of equity, debt, and hybrid funds.

Avoiding Annuities
Annuities, while providing regular income, often come with high costs and lower returns compared to mutual funds. They also lack the flexibility and growth potential of mutual funds. Focus on building a robust mutual fund portfolio for better returns and flexibility.

Regular Review and Rebalancing
Financial planning is not a one-time activity. Regularly review your financial plan to ensure it aligns with your goals. Market conditions and personal circumstances change, necessitating adjustments.

Rebalancing Your Portfolio
Periodically rebalance your portfolio to maintain your desired asset allocation. This involves selling assets that have overperformed and buying those that have underperformed. This strategy ensures your portfolio remains aligned with your risk tolerance and financial goals.

Final Insights
Your financial journey is unique, and with disciplined planning, you can achieve your goals. Focus on paying off your debt, building an emergency fund, and investing systematically in mutual funds. Ensure adequate insurance coverage to protect your family’s future. Regularly review and adjust your financial plan to stay on track.

Remember, the power of compounding and disciplined investing can work wonders over time. Stay committed to your financial plan, and you will see your wealth grow, securing a bright future for your family.

Best Regards,

K. Ramalingam, MBA, CFP,

Chief Financial Planner,

www.holisticinvestment.in

..Read more

Ramalingam

Ramalingam Kalirajan  |6625 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on Jul 18, 2024

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I have 41yrs old and earning 1.8 lacs per month,, married 14years ago two kids one daughter Nd son,I have home loan,own flat and bought one flat by paid cash flat worth 75lac and another plot 30lacs have 5lacs health insurance,2cr term insurance How do I plan my financial plan please suggest me
Ans: Current Financial Overview
Age: 41 years
Monthly Income: Rs 1.8 lakhs
Family: Married with two children
Assets:
Own flat (home loan)
Flat worth Rs 75 lakhs (paid cash)
Plot worth Rs 30 lakhs
Insurance:
Health Insurance: Rs 5 lakhs
Term Insurance: Rs 2 crores
Appreciating Your Efforts
You have made good progress with property investments and securing your family's future with health and term insurance.

Financial Goals
Children’s Education and Marriage
Retirement Planning
Loan Repayment
Emergency Fund
Investment Strategy
Children's Education and Marriage
Systematic Investment Plans (SIPs):

Start SIPs in diversified mutual funds.
Allocate specific SIPs for education and marriage goals.
Recurring Deposits:

Open RDs for medium-term goals.
Ensure liquidity for urgent needs.
Retirement Planning
Public Provident Fund (PPF):

Maximize annual contribution to PPF for tax benefits and long-term savings.
National Pension System (NPS):

Invest in NPS for an additional retirement corpus and tax benefits.
Mutual Funds:

Invest in a mix of equity and debt funds.
Consider balanced advantage funds for stability and growth.
Loan Repayment
Home Loan:
Prioritize paying off the home loan.
Increase EMI payments if possible to reduce tenure and interest.
Emergency Fund
Maintain Liquidity:
Keep at least 6 months of expenses in a savings account or liquid fund.
Asset Allocation
Equity:

Invest 60% in diversified mutual funds.
Allocate towards large-cap, mid-cap, and small-cap funds.
Debt:

Invest 30% in PPF, NPS, and debt mutual funds.
Ensure stable returns with minimal risk.
Gold and Bonds:

Allocate 10% to gold bonds and other safe instruments.
Hedge against inflation and market volatility.
Insurance Review
Health Insurance:

Consider increasing coverage for comprehensive protection.
Include family members under the same plan.
Term Insurance:

Ensure the term insurance amount is adequate.
Review periodically to match with life stage changes.
Financial Discipline
Budgeting:

Track monthly expenses diligently.
Cut down on unnecessary expenditures.
Regular Review:

Review portfolio quarterly.
Rebalance based on performance and goals.
Final Insights
You are on a solid financial footing. Prioritize children’s future, retirement, and loan repayment. Ensure a balanced portfolio for growth and stability.

Best Regards,

K. Ramalingam, MBA, CFP,

Chief Financial Planner,

www.holisticinvestment.in

..Read more

Ramalingam

Ramalingam Kalirajan  |6625 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on Jul 14, 2024

Asked by Anonymous - Jul 14, 2024Hindi
Money
I am 28 years old and my salary is 1 lakh per month. I have SIP of 2 lakhs stocks of 5 lakhs PPF of 2 lakhs and 2.5 lakhs in PF. I want to buy house could you please suggest financial plans to achieve it
Ans: First, let's assess your current financial situation. You have a monthly salary of Rs 1 lakh. Your investments include SIPs worth Rs 2 lakhs, stocks valued at Rs 5 lakhs, a PPF of Rs 2 lakhs, and a PF amounting to Rs 2.5 lakhs. Your goal is to buy a house.

This is a significant financial commitment, and it is essential to have a comprehensive plan to achieve it. Here’s a detailed plan to help you move forward:

Evaluating Your Current Investments
SIP Investments

Your SIP investment of Rs 2 lakhs is a good start. SIPs provide the benefit of rupee cost averaging and compounding. However, it is important to review the performance of these funds regularly. Ensure that you are invested in funds that align with your risk appetite and financial goals.

Stocks

Your investment in stocks worth Rs 5 lakhs is another positive aspect. Stock investments can offer high returns but come with high risk. Diversifying your stock portfolio and regularly reviewing it is crucial. It is wise to consult with a certified financial planner to ensure your stock investments are balanced and aligned with your goals.

PPF and PF

Your PPF and PF investments are safe and provide tax benefits. PPF is a long-term investment with a lock-in period of 15 years but offers a decent return. PF also offers a stable return and is useful for retirement planning. Both these investments should be continued as they provide financial security and stability.

Setting a Clear Goal for Buying a House
Buying a house is a significant financial goal. To achieve it, you need to set a clear target. Determine the budget for your house. Considering your current savings and investments, it is important to set a realistic timeline.

Step-by-Step Plan to Achieve Your Goal

1. Determine the Budget

Decide on the price range of the house you want to buy. This will give you a clear target to work towards.

2. Calculate the Down Payment

Typically, a down payment for a house is around 20% of the property’s value. Calculate how much you need to save for the down payment.

3. Review Your Monthly Savings

Evaluate your current savings and see how much you can save monthly. Considering your salary of Rs 1 lakh per month, aim to save at least 30% of your income towards the down payment.

4. Create a Dedicated Savings Plan

Open a separate savings account for your house purchase. This will help you track your progress and keep the funds dedicated to this goal.

5. Enhance Your SIP Contributions

Increase your SIP contributions. SIPs are a disciplined way to save and invest. Increasing your SIP amount will help you accumulate the required funds over time.

6. Diversify Your Investments

Diversify your investment portfolio to include a mix of equity and debt funds. This will balance risk and return, helping you achieve your goal more efficiently.

7. Regularly Review and Adjust Your Plan

Regularly review your financial plan and adjust it as needed. Market conditions and personal circumstances can change, so it's important to stay flexible.

The Importance of a Certified Financial Planner
Consulting a certified financial planner is crucial. They can provide personalized advice and help you create a comprehensive financial plan. A financial planner will ensure that your investments are aligned with your goals and risk tolerance.

Benefits of Actively Managed Funds

Actively managed funds can offer higher returns compared to index funds. Professional fund managers actively select stocks and adjust the portfolio to maximize returns. They have the expertise and resources to analyze market trends and make informed decisions.

Disadvantages of Index Funds

Index funds simply replicate a market index. They do not offer the potential for higher returns that actively managed funds do. Additionally, they do not provide the flexibility to adjust the portfolio based on market conditions.

Assessing the Role of Regular Funds
Regular Funds vs. Direct Funds

Investing through regular funds with a certified financial planner offers several advantages. A financial planner can provide expert advice, regular portfolio reviews, and help you make informed decisions. Direct funds do not offer this level of personalized service and guidance.

Benefits of Regular Funds

Regular funds come with professional advice and support. A certified financial planner can help you navigate market complexities and ensure your investments are aligned with your goals. They can also help you avoid common investment pitfalls.

Strategic Investment for House Purchase
Saving for Down Payment

To save for your house down payment, consider a mix of SIPs, fixed deposits, and debt mutual funds. These investments provide stability and can be liquidated when needed.

Increasing Your Investment Corpus

Increase your investment corpus by systematically investing in high-return instruments. This includes a balanced mix of equity and debt funds. Regularly monitor and rebalance your portfolio to ensure it is on track.

Utilizing Tax Benefits

Make use of tax-saving investment options like ELSS funds. These not only provide good returns but also offer tax benefits under Section 80C.

Emergency Fund

Ensure you have an emergency fund in place. This should cover at least 6-12 months of living expenses. An emergency fund provides financial security and ensures that you do not have to dip into your house savings in case of unforeseen expenses.

Long-Term Financial Planning
Retirement Planning

While saving for your house, do not neglect your retirement planning. Continue contributing to your PPF and PF accounts. Consider starting a SIP specifically for your retirement.

Insurance

Ensure you have adequate insurance coverage. This includes health insurance and term insurance. Adequate insurance coverage protects your finances in case of unexpected events.

Debt Management

If you have any existing debts, plan to pay them off systematically. Reducing your debt will improve your financial health and increase your ability to save for your house.

Final Insights
Your goal of buying a house is achievable with a well-structured financial plan. By evaluating your current investments, setting a clear goal, and consulting a certified financial planner, you can create a robust plan to achieve your dream. Focus on increasing your savings, diversifying your investments, and regularly reviewing your plan. This will ensure that you are on track to buy your house and secure your financial future.

Best Regards,

K. Ramalingam, MBA, CFP,

Chief Financial Planner,

www.holisticinvestment.in

..Read more

Latest Questions
Anu

Anu Krishna  |1201 Answers  |Ask -

Relationships Expert, Mind Coach - Answered on Oct 15, 2024

Asked by Anonymous - Oct 07, 2024Hindi
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Relationship
Mam i am a 52 year ols women i have never had a secure relationship only who wanted to have s.Marriage in proposals too dint work for me. At late 40 age i met a guy it was all good till start 1 year but since 3 years we just fight my fault to as i have no family no friends and all i have to look after 2 aged parents and i am deep involved my life is just that. This relationship is good to talk on phone as all i do is talk my problems 24 by 7 365 days which i understands upsets him. But i see no effort too from him for meeting planning dates and if i do i pay for it all he never pays . I lost interest felt disappointed after going on saying he never tries to make plans talk future his family finance. I am not sure what i should do stay or live my life alone which i was always doing.
Ans: Dear Anonymous,
Start fresh and if you had a clean slate, what would you want to draw on it?
All your miseries or what you actually want from life?
When you meet someone new and you dump your set of issues on them, how exactly do you think they are going to be interested in taking you out on a date?
Your prospective life partner is not a dumping yard for your life's problems BUT a person that is going to marry you and support you and who you can trust. And will you start this relationship by actually talking only about your problems? Honestly, you need to ask yourself if you will be interested in a guy who keeps ranting about all things going wrong...
Establish a connection by being on a positive ground and showing the other person that you care and also are interested in knowing about them. This interest will let them lower their guard down and actually connect with you at an emotional level and then you can pursue this as a potential life partner association...somewhere down the line, they will be genuinely interested in being a part of your challenges and that's when you make them your strength to solve these challenges. Am I making sense to you?
Do you see how you have been sabotaging your own future? Dust yourself, become genuinely interested in people not to dump your problems on them but to make a genuine connection and watch how things change for you. Prioritize your life not your problems!

All the best!
Anu Krishna
Mind Coach|NLP Trainer|Author
Drop in: www.unfear.io
Reach me: Facebook: anukrish07/ AND LinkedIn: anukrishna-joyofserving/

...Read more

Anu

Anu Krishna  |1201 Answers  |Ask -

Relationships Expert, Mind Coach - Answered on Oct 15, 2024

Relationship
Hi, I am a 36yo guy. Married and have 2 beautiful kids. I am a naturally happy person in life and have achieved reasonable success through my hard work. From last 3 years i am in love with a married girl who works at an office near my workplace. We two believe that we are best suited for each other in every aspect i.e. mental, emotional and physical. We share a great chemistry that we never felt with our respective spouses. We decided that we both cant leave our spouses because of our kids. But very often she keeps on getting crazy and tortures and taunts me that i love my wife more and doesnt give value to her. She is mostly unhappy about this in her life and many times abuses me when she sees that i am a naturally happy and content person. I have even told her that if she wants we can take divorce from our spouses and move-in together. But she never accepts that also and keeps on making my life hard. But i do believe that we both love each other like crazy and my sexual life with her is just out of this world. I have a very high libido and she satisfies me like no other girl. My question is how can i make her sane and make her trust me that i am more inclined towards her?
Ans: Dear Avinash,
I am sure by now you realize that having parallel lives is not easy. Maybe you are at that stage where a decision must be made...
You owe at least that much to your respective spouses who have nothing to do this life of yours...

The lady in question wants the cake and wants to eat it too...obviously she needs to see that if she wants her marriage, then you are going to keep your marriage as well and with that all the insecurities that arise must also be accepted as this is something that the two of you got into willingly...did she not know that a relationship outside of marriage comes with its set of challenges like insecurities, doubts, fears, instability and more? I guess it's not about you making her sane and trust you BUT for the two fo you to come to some sort of a decision on where all this is leading?

Again, I say this...leading two lives in parallel ain't easy; especially on an emotional level!

All the best!
Anu Krishna
Mind Coach|NLP Trainer|Author
Drop in: www.unfear.io
Reach me: Facebook: anukrish07/ AND LinkedIn: anukrishna-joyofserving/

...Read more

Anu

Anu Krishna  |1201 Answers  |Ask -

Relationships Expert, Mind Coach - Answered on Oct 15, 2024

Asked by Anonymous - Oct 01, 2024
Relationship
Hi Anu, I have been reading since long the advices you give to others expecting that there can be an identical issue which i am suffering, i am 48yrs and my wife 42yrs married for 22yrs & having grown up children, over period of time my wife has become more dominating expecting me to listen and follow everything what she says, everything was going fine for until last six years when she was following me as a dutiful wife, since last 6-7yrs she is disinterested in sex also, i sit and speak with her trying to address all the issues, but things get back to ZERO within days, she has turned very short tempered and egoistic, shouting and using foul language in rage at times, we both are highly educated and give lectures at college with limited reasonable income, the problem is she compares her life to others and disturbs our life, ours is a marriage against parents so both the side relatives are little indifferent and we are not extroverts or that persons who are outgoing to change all that, we just lead our life within ourselves and try to help the relatives whenever they come to us. My question is that is it not cruel for a wife to deprive the husband of sex and develop unreasonable expectations comparing the lifestyles of others. when at peace my wife suggests that i can look outside for sex and she is ok with it but i don't believe in it and in her words, at times in rage she keeps asking for divorce uttering foul language, i keep reminding her that emotions, anger and rage shall only aggravate the issues we should know what we actually want and seek it speaking to each other, i feel that my wife doesn't know what she wants from herself or from me or from life, Anu, Is this all that pre-menopause frustrations which is building up or is it some mental issues which are surfacing due to negligence from me or our relatives? Please suggest? Thank you
Ans: Dear Anonymous,
Let's understand it in 3 ways..

1) Whether your wife is in pre-menopause or perimenopause or menopause stage can be determined only by a doctor. A lot of material floats on the internet convincing people of one over the other BUT it's important to get it validated by a doctor that will help your wife understand what is going on with her body and how it impacts her mind...

2) It is also possible that the current sex routine maybe boring to her and infusing it with some spice can get things going? So, think out of the box here...

3) Also, you might want to think if the emotional bond between the two of you has broken down; women respond to sex easier when they feel emotionally connected and safe with their man...

What will be useful in your situation is: to reconnect with her and aim to connect with her emotionally. This will help her in conveying to you what might be the problem and then it gets easier to solve it or take necessary steps...

All the best!
Anu Krishna
Mind Coach|NLP Trainer|Author
Drop in: www.unfear.io
Reach me: Facebook: anukrish07/ AND LinkedIn: anukrishna-joyofserving/

...Read more

Milind

Milind Vadjikar  |418 Answers  |Ask -

Insurance, Stocks, MF, PF Expert - Answered on Oct 15, 2024

Milind

Milind Vadjikar  |418 Answers  |Ask -

Insurance, Stocks, MF, PF Expert - Answered on Oct 15, 2024

Milind

Milind Vadjikar  |418 Answers  |Ask -

Insurance, Stocks, MF, PF Expert - Answered on Oct 15, 2024

Asked by Anonymous - Oct 15, 2024Hindi
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Money
Hi Milind I am 52 years old single woman, from small town and who has worked hard ro reach to level in corporate with good salary. I have a corpus of about 5 crores and small flat in tier 2 town. I dont enjoy yhis new job wirh reputed brand and at a senior level as i dont find ut engaging or doing justice to role. My parents are old and i worry for rhem ans want to spent rkmw with them. With this corpus can i take a call to leave job and get decent income of atleast 2-2.5 lac a month. I have been quite action oriented, but now my mind and body feel exhasuted and also fear rhat without a job i will become lazy. Also living with parents will be a joy, at the same time resteictive to eating or socializing. I am quite concious ,if i leave this well paying ,senior role job with a big renonwed corporate which many of my friends aspired for and whole lot of people congratulated me ,they will think i was not able to justify my role,hence left . I dont want that impression at last stage of career as whole life i have been seen as hard working ,passionate professional. Such rhoughts are taking toll on my mental health. Please advise what should be done
Ans: Hello;

With the corpus that you have (5 Cr) you may buy an immediate annuity from a life insurance company and can expect to receive monthly payout of 2.5 L (pre tax)from the very next month. 6% annuity rate considered, if you shop around and negotiate you may get a better rate.

You can opt for increasing annuity to account for inflation and return of purchase price to your nominee, after you.

Ensure good health insurance policy to cover yourself and your parents.

Think about some vocation which you would like to pursue passionately after retirement.

You are seeking retirement from regular 9 to 5 job not from pursuit of your passion/goals.

It could be in the role of an consultant, counselor or educator.

You should take the decision which you feel is appropriate for you irrespective of what people comment because they will comment in any case.

Learn to ignore such people.

Happy Retirement!!

...Read more

Milind

Milind Vadjikar  |418 Answers  |Ask -

Insurance, Stocks, MF, PF Expert - Answered on Oct 15, 2024

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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