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Hemant

Hemant Bokil  | Answer  |Ask -

Financial Planner - Answered on Oct 30, 2023

Hemant Bokil is the founder of Sanay Investments. He has over 15 years of experience in the field of mutual funds and insurance.Besides working as a financial planner, he also hosts workshops to create financial awareness. He holds an MCom from Mumbai University.... more
Preetinder Question by Preetinder on Oct 28, 2023Hindi
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Hello sir , I am 45 years old working in private job. My breakdown of monthly SIP is 1000 for long term kotak flexicap fund. How much i can get at my retirement

Ans: Hi kindly specify your retirement age so that the calculation can be made accurately

here i am giving retirement corpus at age 60
which can be Rs 4.75 lacs approx

disclaimer - above solution is given based on certain assumptions and investments in mutual funds are subject to market risk
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  |8204 Answers  |Ask -

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

Asked by Anonymous - May 09, 2024Hindi
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Hi sir i am investing in sip for 7000,ppf 5000,nps 2500,pf 3000 per month i am 32 yrs planning to retire in 65 years .how much i will get after 65
Ans: It's excellent that you're taking proactive steps towards securing your financial future at such a young age. By investing regularly in SIP, PPF, NPS, and PF, you're building a strong foundation for your retirement.

Regularly investing in SIPs allows you to benefit from the power of compounding over time, potentially leading to significant growth in your investments. PPF provides a secure and tax-efficient way to save, and NPS and PF contributions help you build a retirement corpus while also enjoying tax benefits.

However, the exact amount you'll receive at retirement depends on various factors like the rate of return on your investments, inflation, and any changes in government policies. It's essential to review your investment strategy regularly and make adjustments as needed to stay on track towards your retirement goals.

Consider consulting with a Certified Financial Planner (CFP) to develop a comprehensive retirement plan tailored to your needs and aspirations. A CFP can help you estimate your future retirement corpus based on your current investments and make recommendations to optimize your portfolio for long-term growth.

Remember, starting early and staying disciplined with your investments are key to achieving your retirement goals. Keep up the good work, and continue investing regularly to build a secure financial future for yourself.

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

..Read more

Ramalingam

Ramalingam Kalirajan  |8204 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on May 17, 2024

Asked by Anonymous - May 12, 2024Hindi
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Hi sir, I am 59 yr old working for a pvt organisation and have no retirement benefits. I stated SIP in MF about 3 yrs and have a fund value of 35 lakh. An FD for 5 lakh, term policy for 80 lakh, joint health insurance policy for 10 lakks for me my wife and my wife.I own a flat to live in. I don't have any loans. Presently my take home salary is 1.5 lakh and monthly expenditure is 50 k .I can work as long as I want and presently fit to work Now to get a monthly 50 k per month, through. SWP. How much fund is required and how much SIP for what time should I do it.
Ans: It's commendable that you have taken proactive steps towards securing your financial future. Given your current situation, let's outline a plan to achieve a sustainable monthly income of 50,000 rupees through a Systematic Withdrawal Plan (SWP).

Assessing Current Financial Status
You have a well-balanced portfolio:

Mutual Funds (MF): 35 lakh rupees
Fixed Deposit (FD): 5 lakh rupees
Term Policy: 80 lakh rupees
Joint Health Insurance: 10 lakh rupees
No Loans
Take Home Salary: 1.5 lakh rupees
Monthly Expenditure: 50,000 rupees
Understanding SWP (Systematic Withdrawal Plan)
An SWP allows you to withdraw a fixed amount from your mutual fund investments regularly. To generate 50,000 rupees per month, you need to consider the longevity of your investments and expected returns.

Required Fund for SWP
To calculate the corpus needed, we assume a conservative annual return of 8% from your investments and a withdrawal period of 30 years.

So, the rough estimate works out to Rs 75 Lacs.

Building the Corpus
You currently have:

Mutual Funds: 35 lakh rupees
Fixed Deposit: 5 lakh rupees
Total current savings: 40 lakh rupees

You need to bridge the gap between 40 lakh rupees and 75 lakh rupees, which is 35 lakh rupees.

Increasing SIP Contributions
Given you are 59 years old, aiming to accumulate this amount before retirement requires increasing your SIP contributions significantly. Let's assume you plan to retire in 5 years.

Calculating SIP Requirement
To bridge the gap of 35 lakh rupees in 5 years, assuming an average annual return of 12% from your mutual fund SIPs.

Making It Feasible
Since 43,000 rupees might be a high SIP amount, consider the following adjustments:

Increase SIP gradually: Start with a feasible amount and increase it annually.
Consider lump-sum investments: Any bonuses or extra income can be added to your mutual funds to boost the corpus.
Conclusion
To achieve a 50,000 rupee monthly SWP, you need to accumulate approximately 75 lakh rupees. Start with a higher SIP contribution around 43,000 rupees, adjusting based on feasibility, and consider lump-sum investments. Regular reviews with a Certified Financial Planner will ensure you stay on track.

Best Regards,

K. Ramalingam, MBA, CFP,

Chief Financial Planner,

www.holisticinvestment.in

..Read more

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Janak

Janak Patel  |26 Answers  |Ask -

MF, PF Expert - Answered on Apr 09, 2025

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One fincart advisor contacted me for giving me advise regarding mutual funds and investment of sector is fincart a good company or not to invest
Ans: Hi Sammer,

An adviser/company to be categories as good or not is a bit subjective. I say this because you may find people who have had a good experience with them and those who did not have a good one.

But let me try to help you with some pointers that can help you decide
1. Before asking what they can offer you, ask them - "What do you gain by becoming my advisor?" Their response will give you insight into their objectives. If its not clearly stated, then consider it a RED flag.
2. Are they going to advise based on your preferences or they have a selected list that you need to choose from. I have heard of adviser pushing different products without considering your preferences e.g. You prefer MF and they push ULIP, Regular MF vs Direct MF etc. This can include cross selling other products that they are servicing like insurance and pension products.
3. Inquire about their process of engagement before advising you. Will they consider your requirements and evaluate them and present options to choose or start by putting the options on table and recommending MFs without understanding your goals/requirements. Simple ask, so which is the best MF scheme to invest today. If they start listing them - RED flag.
4. How will they construct a portfolio for you, structure and number of schemes in it, will it have a strategy and objective to it. Or will they keep building it over time by adding new schemes as and when. A person once came to me with a portfolio of approx. 30 lakhs with over 30 MF schemes in it - RED flag. Going beyond 5-6 schemes needs to be reviewed thoroughly.
5. What are their processes for reviewing the performance of the portfolio/schemes and how do they provide recommendation for changes in the portfolio. Will they take into account tax impacts when recommending exits.
6. Will they aim to educate you in this whole process about various aspects so as to establish and enhance their engagement, trust and your own confidence in them.
7. Most important - Will it be a fee based engagement or a commission based. Typically fee based engagements should encourage customer's preferences e.g Direct MF, using client's Demat account etc and provide recommendations for customers requirement with alternatives and options. Even when you change a recommendation, they should educate you on its impact and recommend alternative to mitigate the impact. Commission based engagements are based on their earnings from your investment. Some times their approach is to add schemes based on commissions. But there are good advisors who will stay the course of a well constructed portfolio even in this model, having the customers interest at heart.

So do your own assessment of any advisor you engage with based on the above. You can add more points of evaluation based on your own experience and knowledge.
Remember Simple strategies are more often successful.

Thanks & Regards
Janak Patel
Certified Financial Planner.

...Read more

Anu

Anu Krishna  |1585 Answers  |Ask -

Relationships Expert, Mind Coach - Answered on Apr 09, 2025

Asked by Anonymous - Apr 06, 2025Hindi
Relationship
Hi Anu! Am a 55yr old Telugu NRI Male. Father of 3 daughters (27, 23 & 18). I luv all 3 of them more than my life. I have struggled extremely hard in my life to reach this position. And, have given my best to them always. They know about that. But, what they have done has broken me. All 3 of them r NRIs like me, and Engineers. Elder one is a Masters from USA. Younger one still studying. I had planned the marraige of my elder one when she was 23. I had already conveyed this to her in advance, for which she agreed. I clearly conveyed to her, that, having 3 daughters, I cannot afford any experiments. Only, if I plan to settle off all 3 of them in a proper and phased manner, I can finish off my duties for the youngest, by the time Im 60. Else, things will become challenging if any one of them delays for any reason, and being in a Gulf Country, I loose my job anytime, or, if I have to return due to health issues, we cud become challenged financially. Effecting the settling of my daughters. So, when I went to India around 4yrs back to initiate the plans for her match making, she stunned me by conveying that, she likes someone (a Telugu but from a different equal caste). Though stunned at her reversal, I went along, and decided to approach the Boy's father, who was a close friend. But, I was in for a bigger shock, where, the Boy's father (my friend) himself approached me, and conveyed in quiet an abrupt manner, that, he is against an intercaste marraige. I conveyed this to her (my daughter) and my wife, in front of my other 2 daughters. To my surprise, i found all my 3 daughters totally silent on this subject. Except my wife, who supported me on the insult I had to face from the Boy's father (my friend). None of my daughters felt pricked at the way he conveyed his message to me. Until this incident, my wife too was supporting my daughter, despite fully knowing that she had reversed from he initial agreement. But, this incident took her away from her support and towards the family respect. This was resented by my 3 daughters against my wife. So, after this, I started to build pressure on my daughter, conveying that, lets put this behind us, and lets proceed with seeing matches for u. She conveyed that, she needs time to heal. I asked her how much time? 1month, 2 months, 6months a year? She wasnt clear about that, which made me upset. And defeated, I left back to my job outside India. Suddenly, out of the blue, I was informed by my wife, that, she has done GRE, and got a very good score of 325/340. And, she plans to go to USA for her Masters on Scholarship. I was surprised, that, I had spent Rs.40K to join a Guidance Class to help her get a good score, which she cud not the 1st time. But, this 2nd time, how cud she get such a good score without any gudance? What was her motiivation? Whatever be the case, I felt proud of her achievement, and agreed to fund her (close to 60 Lakhs). I felt that, getting such a good score, she shud seek admission in a prestigious University, whatever be the cost on me. I had conveyed to her thro her Mom (as we werent on speaking terms), that, this money is for her's and her Sisters marraige expenses, whenever their marriage comes. I had kept aside 20 lakhs each for each of my daughters exclusively as marriage expenses. And, she has to return that amount once she starts earning. This is usually what all kids going to USA for their Masters do. They return back the money taken from their Parents, or pay back the Bank Loans. But, I payed off the Bank Loan (full 60 lakhs), so, that, the interest doesnt burden her, and asked her to pay me back when she can. Condition being, she has to pay back a min 20 lakhs in time for her marraige expenses. I was further stunned and shocked by 2 more reveals. One that, she took the step to do Masters, as the Boy too was in USA, and she followed him there with his concurrence. Which again, she hid from us. 2nd being, she also took this step to escape the marraige pressure from us in the aftermath of the Boy's father's insult to me. All these 3 yrs, she never bothered to even ask or enquire about the Financial Burden her expenses has caused to the Family. Let alone trying to convey how she plans to repay them back. Worse these 3 yrs, she doesnt attend our calls (specially her mother's, as I dont call at all), talks to her Mom in a haughty tone. Seeing her, my other 2 daughters too behave with their Mother, and at times with me to the same way. As if, it is our duty to ensure that, we provide everything to them, and when they ask. Now, it has also become clear thro my 2nd daughter that, my elder one is going to marry the same guy. Where, frankly, me and my wife dont care much about at this stage. But, this betrayal by her and the following her footsteps by her Sisters is eating me day and out. And I feel my life slipping away from my hands. I lost my only Sister, around 25yrs back. Then my Mother around 16yrs back, and my father around 4yrs back. Im alone with just my wife as my Companion. Im financially well off, but, seem to have lost my will to live. I want to live only till my 3rd daughter settles in life. And bid good bye. But, each time I think in such a way, my wife's picture comes in front of my eyes. Me and my wife luv each other a lot. I have not been a perfect husband to her. But, she has always loved me with her full heart, despite her initial mistake in supporting my elder daughter on her actions. The purpose of this query, is not for guidance, but just for sharing my pain, which, I cannot share with anyone. Not even my wife. Else, she will be devastated. She too is extremely pained with the attitude of my daughters.
Ans: Dear Anonymous,
Since you have mentioned that you don't seek guidance but just wanted to share the pain; thank you for writing in and sharing and I wish you well in life and can only hope things get better for you...

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

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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