Gambling Addiction: How to Start Over with 8 Lakh Debt?

Ans: Hi Besra,

With so much loan it is difficult to save till you finish paying back the loans.
So pay off the loans and as you finish one loan save that EMI amount every month.

You can talk to your bank (where you have account receiving salary) and see if they can help you consolidate these loans at a better interest rate. That way you can reduce some burden and save on interest.
Do not spend more than you can repay, so if you repay the loans on time and finish them, that will be best thing for now.

Once Loan EMIs are paid, then start saving same amount every month. You can do SIP into Mutual funds.

Thanks & Regards
Janak Patel
Certified Financial Planner.

Ans: You have made many financial moves with clarity and purpose. Your asset base is strong.

You sold Rs.?1.6 crore worth of financial assets to buy a house. Let us now assess this decision. We’ll look at all angles to guide you.

This detailed review will help you make smart, balanced, long-term decisions.

Was Buying the Property a Good Decision?

Owning a house offers emotional comfort and stability.

It also lowers rent cost and gives more space.

But property is not a flexible investment.

It is hard to sell fast when money is needed.

Property needs repairs, tax payments and legal care.

Financial investments do not have such burdens.

Your earlier financial assets were more liquid.

You had Rs.?2 crore in stocks and Rs.?1 crore in bonds and mutual funds.

After this new property, your real estate share is now very high.

This can impact long-term growth and flexibility.

Financial assets like mutual funds often grow faster.

Properties in outskirts grow slowly and depend on area development.

This growth is not guaranteed.

You must check if the area has good infrastructure plans.

Is Real Estate the Best Wealth-Building Tool?

Property is not the fastest wealth builder.

Equity mutual funds grow faster over time.

Property needs high capital, low returns and long holding periods.

You may also face legal or title issues.

Rent income is also not guaranteed.

Real estate is hard to sell when you need cash.

Stocks and bonds are easier to exit.

Real estate gives pride, but less profit.

You must not depend only on property for wealth.

How Your Asset Mix Looks Now

Your assets are now heavy in real estate.

Rs.?70 lakhs flat in Bangalore plus Rs.?1.6 crore new house.

That’s over Rs.?2.3 crore in property.

Stock and mutual fund holding is now Rs.?2 crore approx.

This makes the ratio about 55% in real estate.

For financial growth, this is very high.

Financial assets give compounding and flexibility.

Too much in real estate may hurt long-term goals.

You may face difficulty accessing funds in emergencies.

Liquidity is now lower than before.

You are on a job break, so liquidity is more important now.

During Career Break, Liquidity is Vital

When you are not earning, liquidity is your protection.

Property cannot give you quick funds in emergencies.

But mutual funds and stocks can be sold in 1-3 days.

You must protect cash flow till income resumes.

Emergency fund should be 12 months’ living cost.

Ensure you are not over-relying on property.

What You Could Have Considered Instead

You could rent in outskirts instead of buying.

Renting keeps your money invested in mutual funds.

You could have earned higher returns with flexibility.

Money in mutual funds can help meet multiple goals.

Renting avoids repair, tax and legal costs.

Ownership is not always necessary.

Emotional satisfaction from a house is valid.

But it must not reduce your long-term growth.

Why Mutual Funds Are a Better Tool for Growth

Mutual funds give professional fund management.

They offer better diversification than any property.

Regular mutual fund plans offer expert support.

A Certified Financial Planner can help choose better funds.

Actively managed funds adjust to market changes.

Index funds just copy the market.

Index funds don’t protect against sharp market falls.

They do not beat the market in tough times.

Direct mutual funds also have no personal help.

If you invest directly, you get no strategy or advice.

Regular plans give human support and help in planning.

Investment without expert help is like driving without direction.

Choose mutual funds through MFD with CFP support.

What You Should Do Next

Review if the new house is for self-use or investment.

If self-use, then it meets emotional comfort, not wealth goals.

If investment, then rethink its growth and returns.

Keep some funds in high-quality mutual funds.

Avoid putting more into real estate.

Resume SIPs once cash flow starts again.

Avoid index funds and direct funds going forward.

Focus on active funds with proper advice.

Set goals for retirement, health, and other needs.

Adjust asset mix to support those goals.

Keep financial assets above 50% for better future growth.

Plan your tax-saving investments every year.

Don’t depend only on property or insurance-based plans.

If you hold any LIC, ULIP, or combo plans, review them.

If returns are poor, consider surrendering and investing in mutual funds.

Property must be need-based, not return-based.

Let financial products drive long-term growth.

Take insurance for risk protection, not investment.

Continue asset review every 6 months.

Choose Certified Financial Planner to keep you on track.

Finally

Your decision to buy the house brings peace, but lowers growth.

It’s fine if emotional security is your key goal now.

But make sure you don’t lose financial strength.

Property is hard to manage, and slow to grow.

Your asset allocation needs rebalancing toward financial investments.

Start investing again when income resumes.

Reduce dependence on physical assets.

Trust actively managed mutual funds via regular plans.

Seek professional guidance to ensure your long-term success.

You’ve done well so far. With a few changes, you can go further.

Best Regards,

K. Ramalingam, MBA, CFP,

Chief Financial Planner,

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

Ans: Hello Radha
Sorry to say, it is not possible for us to suggest specific colleges on this platform. However, it could be the preferred branch at a reputed college in AP.
Best of luck to you.
Follow me if you like the reply. Thanks
Radheshyam

Ans: Hello Jyoti
Moderate to slim chances of getting a seat either in NITs or IIITs. Explore more options in private colleges with the preferred branch. Participate in the JosAA and state level counseling actively.
Best of luck to you.
Follow me if you like the reply. Thanks
Radheshyam

Ans: Hello Nikhil
Prefer CSE @ IIIT Bangalore
Best of luck to you.
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Radheshyam

Ans: Hello Riya.
It is required at the time of JoSAA counseling. However, if there is any confusion, visit the official website, call the helpline number, and also email your concern.
Best of luck to you.
Follow me if you like the reply. Thanks
Radheshyam

Ans: Hello dear
Not possible for us to provide the names of particular GFITs. Chances are moderate to slim of getting a seat in GFITs. Yet keep a close eye on the counseling process and simultaneously explore other options too. With the mentioned rank and details, pl fill our the options with ECE rather than CSE for better choice and chances.
Best of luck to you.
Follow me if you like the reply. Thanks
Radheshyam

Ans: With a JEE Main rank of 26,000, securing CSE in top NITs (e.g., NIT Trichy/Warangal CSE cutoff: ~5,350–10,994) is unlikely, but ECE at mid-tier NITs like NIT Surat (2024 cutoff: ~10,994–15,364, 85.6% placements, median ?16.15 LPA) or NIT Bhopal (cutoff: ~15,470–21,214, 75–85% placements) is feasible. CSE at lower NITs like NIT Uttarakhand (cutoff: ~24,340, 61.1% placements, avg. ?13.57 LPA) or NIT Manipur (cutoff: ~23,245–39,917) offers direct tech roles but with moderate placement rates. Alternatively, Mechanical/Civil at top NITs (e.g., NIT Trichy Mechanical: ~15,470 cutoff, 82.79% placements, median ?12 LPA) provides institutional prestige but limited tech opportunities. Prioritize ECE at mid-tier NITs for balanced industry demand and placement consistency, or CSE at lower NITs if tech specialization is critical. Confirm branch flexibility and vacancy trends during counselling. All the BEST for your Admission & a Prosperous Future!

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Ans: Hello MeenaSingampalli
Chances are less for upgradation. Yet wait till the last date of joining. If no option opens, then no choice remains.
Best of luck to you.
Follow me if you like the reply. Thanks
Radheshyam