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How Can I Become Financially Independent as a 35-Year-Old Work-from-Home Mom?

Ramalingam Kalirajan |7290 Answers |Ask -Follow

Mutual Funds, Financial Planning Expert - Answered on Jul 25, 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 - Jul 16, 2024Hindi

Money

Hello.. I Am a female 35years and I earn 57k working from home on contract job(no guarantee in contract extension). Started SIP of 30K in the month of April 24, invested 10lakh lumpsum in mutual funds. I have a 8 years daughter. How can i be financially independent.

Ans: Current Financial Status
Age and Income

You are 35 years old.

You earn Rs. 57k per month from a contract job.

Investments

SIP: Rs. 30k per month starting April 2024.

Lumpsum: Rs. 10 lakh in mutual funds.

Dependents

One daughter, 8 years old.
Appreciating Your Proactive Steps
You have taken significant steps toward financial security.

Your commitment to SIPs and mutual funds is commendable.

Financial Independence Planning
Emergency Fund

Priority: Build an emergency fund first.

Amount: Save 6-12 months of expenses in a liquid fund.

Review and Diversify Investments
Mutual Funds

Actively Managed Funds: Focus on these for better returns.

Diversification: Ensure a mix of equity and debt funds.

Avoid Direct Funds

Lack of Guidance: Direct funds can be risky without professional advice.

Professional Support: Regular funds with CFP guidance are better.

Child's Future Planning
Education Fund

SIPs: Allocate a portion of SIPs towards an education fund.

Long-term Goals: Aim for a dedicated education corpus.

Insurance Needs
Health Insurance

Coverage: Ensure adequate health insurance for you and your daughter.

Review: Check if current policies cover all potential health risks.

Life Insurance

Term Plan: Get a term insurance plan for financial protection.

Sum Assured: Opt for coverage that is at least 10-15 times your annual income.

Retirement Planning
NPS (National Pension System)

Contributions: Consider starting or increasing contributions to NPS.

Benefits: NPS offers good returns and tax benefits.

Disadvantages of Index Funds
Lower Returns

Market Mimicry: Index funds only match market performance.

No Active Management: Lack adaptability and expert intervention.

Regular Review and Adjustments
Periodic Review

Regular Checks: Review your financial plan every six months.

Adjustments: Make necessary adjustments based on market conditions and personal changes.

Additional Income Streams
Skill Development

Enhance Skills: Invest in learning new skills relevant to your field.

Freelancing: Consider freelancing or part-time projects for additional income.

Final Insights
Building an emergency fund is crucial.

Diversify your mutual fund investments.

Focus on education and retirement planning.

Ensure adequate health and life insurance.

Regularly review and adjust your financial plan.

Best Regards,

K. Ramalingam, MBA, CFP

Chief Financial Planner

www.holisticinvestment.in

Asked on - Jul 26, 2024 | Answered on Jul 26, 2024

Thank you so much for your inputs.

Ans: I appreciate your trust and willingness to connect.
Let's embark on this financial journey together.
You can reach me through my website mentioned below.
This platform has restrictions on sharing personal contact. Hope you understand.

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

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 Kalirajan |7290 Answers |Ask -Follow

Mutual Funds, Financial Planning Expert - Answered on Jul 03, 2024

Asked by Anonymous - Jun 24, 2024Hindi

Money

I am 47 years old. Monthly salary at 2 lakhs. Daughter of 12year old and son of 14 year old Monthly SIP of 30k. PF of 3 lakhs. 5 lakhs in debt/liquid funds/bank. Retirement at the age of 55 is possible with monthly expenses of 1.5lakhs?I also have home loan with 135 EMIs pending of 60000 per month.Suggest how to become economically independent.

Ans: You are 47 years old with a monthly salary of Rs. 2 lakhs. Your daughter is 12 years old and your son is 14 years old. You have a home loan with 135 EMIs of Rs. 60,000 each pending. Your current financial assets include:

Monthly SIP: Rs. 30,000.
Provident Fund (PF): Rs. 3 lakhs.
Debt/Liquid Funds and Bank Savings: Rs. 5 lakhs.
You plan to retire at 55 and wish to maintain monthly expenses of Rs. 1.5 lakhs post-retirement. Let’s analyze and plan your finances to help you achieve economic independence by retirement.

Current Financial Goals
Retire at 55: You have 8 years left until retirement.
Monthly Expenses Post-Retirement: Rs. 1.5 lakhs.
Home Loan: 135 EMIs of Rs. 60,000.
Children’s Education and Future: Planning for their higher education and possibly marriages.
Detailed Financial Assessment
Income and Expenses
Your monthly salary is Rs. 2 lakhs. Let’s break down your expenses:

Home Loan EMI: Rs. 60,000.
Monthly SIP: Rs. 30,000.
Other Monthly Expenses: Approximately Rs. 1.1 lakhs.
This means your total monthly outflow is around Rs. 1.9 lakhs. You have Rs. 10,000 surplus monthly, which can be utilized for savings or investments.

Provident Fund and Debt Investments
Your PF amount is Rs. 3 lakhs, and you have Rs. 5 lakhs in debt/liquid funds and bank savings. These are stable but low-yielding investments. Diversifying your portfolio is essential for growth.

Creating a Robust Retirement Plan
Goal 1: Clearing the Home Loan
Clearing your home loan should be a priority. With 135 EMIs of Rs. 60,000 each, you have approximately Rs. 81 lakhs outstanding. Try to make additional payments towards your loan whenever possible to reduce interest burden and loan tenure.

Goal 2: Building a Retirement Corpus
To maintain Rs. 1.5 lakhs monthly expenses post-retirement, you need a substantial corpus. Let’s look at how to build this corpus over the next 8 years.

1. Maximize SIP Investments
Your current SIP of Rs. 30,000 is a good start. Equity mutual funds, especially diversified ones, offer potential for high returns. As you get closer to retirement, gradually shift some investments to debt funds to reduce risk.

2. Increase Monthly SIPs
If possible, increase your SIP contributions. Every increase will significantly boost your corpus due to the power of compounding. Aim to incrementally increase SIPs as your salary grows or expenses reduce.

3. Invest in a Mix of Funds
A balanced portfolio should include:

Equity Mutual Funds: For growth.
Debt Mutual Funds: For stability.
Hybrid Funds: For a balanced approach.
4. Consider Retirement Funds
Retirement-specific mutual funds are designed to provide regular income post-retirement. They can be a good addition to your portfolio.

Goal 3: Planning for Children’s Education
1. Education Funds
Start dedicated funds for your children’s higher education. Equity funds can be ideal given the 5-10 year horizon. Regularly review and top-up these investments.

2. Systematic Investment Plans (SIPs)
Continue SIPs for children’s education. These regular investments will accumulate a significant corpus over time.

Investment Strategy and Allocation
Diversifying Portfolio
Diversification is crucial to manage risk and ensure steady growth. Your portfolio should include:

Equity Mutual Funds: For high growth potential.
Debt Mutual Funds: For stability and regular income.
Gold: As a hedge against inflation.
PPF/EPF: For tax-free returns and safety.
Avoiding Index Funds
While index funds track the market, actively managed funds can outperform by adjusting the portfolio based on market conditions. Actively managed funds have the potential for higher returns due to professional management.

Benefits of Regular Funds
Regular funds provide the advantage of professional advice. A Certified Financial Planner (CFP) can guide you to choose the best funds, helping you navigate market complexities.

Risk Management
Building an Emergency Fund
Maintain an emergency fund covering 6-12 months of expenses. This provides financial security during unexpected events.

Insurance Coverage
Ensure adequate health and life insurance. This protects your family’s financial future in case of unforeseen events.

Tax Planning
Utilizing Tax Benefits
Maximize tax-saving investments like PPF, EPF, and tax-saving mutual funds. This not only reduces your tax liability but also boosts your savings.

Final Insights
Regular Reviews and Adjustments
Periodically review your financial plan. Adjust investments based on market conditions and changes in your financial goals.

Incremental Increases in Investments
As your salary increases, incrementally raise your investment amounts. This enhances your corpus significantly over time.

Financial Discipline
Maintain financial discipline by sticking to your investment plan. Avoid unnecessary expenditures and focus on your long-term goals.

Retirement Corpus Calculation
Your retirement corpus should be a mix of growth and stable investments. Regularly rebalance your portfolio to ensure it aligns with your risk tolerance and financial goals.

By following this comprehensive plan, you can achieve economic independence and ensure a comfortable retirement.

Best Regards,

K. Ramalingam, MBA, CFP,

Chief Financial Planner,

www.holisticinvestment.in

Ramalingam Kalirajan |7290 Answers |Ask -Follow

Mutual Funds, Financial Planning Expert - Answered on Jul 15, 2024

Question by Shivam - Jul 15, 2024Hindi

Money

I am 27, I have started to invest 25k monthly Sip since last 2 years. Also, i plan to increase it by 10% every year. I also have life and medical insurance. What shall I do to achieve the financial independency as my monthly withdrawal will be 5 lakhs and to retire in late 40s or at 50.

Ans: Congratulations on starting your investment journey at 27. It's impressive that you have a disciplined SIP approach. Let's explore a comprehensive plan for your financial independence, targeting a monthly withdrawal of Rs 5 lakhs and retiring in your late 40s or at 50.

Assessing Your Current Situation

You are investing Rs 25,000 monthly via SIP, which is a solid start. Increasing your SIP by 10% annually is a smart strategy. This compounding effect will significantly grow your wealth over time.

You also have life and medical insurance. This indicates you understand the importance of risk management in financial planning.

Your goal of achieving a Rs 5 lakh monthly withdrawal requires careful planning and disciplined execution.

Investment Strategy for Growth

To achieve financial independence, you need a diversified investment portfolio. This includes equity, debt, and other asset classes.

Equity mutual funds are essential for growth. These funds have the potential to deliver high returns over the long term. They help in wealth creation and beating inflation.

Actively managed equity funds are preferable. These funds have fund managers who make decisions based on market conditions. They aim to outperform benchmark indices, unlike index funds which simply track them. Active funds offer potential for higher returns.

Debt Funds for Stability

While equity funds provide growth, debt funds offer stability. They are less volatile and provide steady returns. Including debt funds in your portfolio reduces overall risk.

Debt funds are suitable for short to medium-term goals. They also help in preserving capital. By balancing equity and debt, you create a stable and growth-oriented portfolio.

Systematic Investment Plan (SIP)

Your SIP of Rs 25,000 monthly is a great start. Increasing it by 10% every year enhances your investment. SIPs instill discipline and take advantage of rupee cost averaging. This means you buy more units when prices are low and fewer when prices are high. Over time, this lowers the average cost per unit.

Avoiding Direct Funds

Direct funds might seem attractive due to lower expense ratios. However, they require significant market knowledge and time. Regular funds, through a Certified Financial Planner (CFP), offer professional advice. This guidance helps in making informed decisions, aligning investments with your goals.

Importance of Life and Medical Insurance

You already have life and medical insurance, which is excellent. Adequate insurance coverage protects you and your family from unforeseen events.

Ensure your life insurance covers at least 10-15 times your annual income. This provides financial security to your family in your absence.

Medical insurance protects against high healthcare costs. With rising medical expenses, having sufficient coverage is crucial.

Inflation and Tax Considerations

Inflation erodes the purchasing power of money. Hence, your investment returns must outpace inflation. Equity investments typically provide returns that beat inflation.

Tax efficiency is another critical aspect. Long-term capital gains from equity funds are taxed at 10% above Rs 1 lakh. Debt funds are taxed based on your income slab for short-term holdings and 20% with indexation for long-term holdings. Plan your investments to maximize post-tax returns.

Building a Corpus for Rs 5 Lakh Monthly Withdrawal

To generate a Rs 5 lakh monthly withdrawal, you need a substantial corpus. Assume you need Rs 6 crores to Rs 10 crores, considering inflation and a safe withdrawal rate.

Continue increasing your SIP by 10% annually. This disciplined approach, along with a diversified portfolio, will help you achieve your goal.

Emergency Fund

An emergency fund is essential for financial security. It covers unexpected expenses and prevents disruption to your investments.

Aim to have 6-12 months' worth of expenses in an easily accessible form. This can be in a savings account or liquid fund.

Review and Rebalance

Regularly review your investment portfolio. Market conditions and personal circumstances change. Periodic reviews ensure your investments remain aligned with your goals.

Rebalancing involves adjusting your portfolio to maintain the desired asset allocation. This may involve selling high-performing assets and buying underperforming ones. Rebalancing helps in risk management and optimizing returns.

Retirement Planning

Your target to retire in your late 40s or at 50 requires a well-thought-out retirement plan. Estimate your post-retirement expenses, including inflation. Ensure your retirement corpus can support these expenses for at least 30-40 years.

Consider diversifying into assets that generate regular income. This can include dividends from equity funds or interest from debt funds.

Estate Planning

Estate planning ensures your assets are distributed according to your wishes. It also minimizes legal complications for your heirs.

Create a will and update it regularly. Nominate beneficiaries for all your investments and insurance policies. Consult a legal expert for comprehensive estate planning.

Certified Financial Planner (CFP) Guidance

A CFP can provide personalized advice. They help in creating a tailored financial plan based on your goals. A CFP also monitors your progress and makes necessary adjustments.

Engaging a CFP ensures your financial decisions are well-informed. This professional guidance increases your chances of achieving financial independence.

Active vs Passive Investing

Active investing involves regular monitoring and decision-making by fund managers. They aim to outperform the market. This approach can potentially provide higher returns.

Passive investing, like index funds, simply tracks market indices. They have lower costs but may not outperform the market. For higher returns, actively managed funds are preferable.

Avoid Annuities

Annuities are often complex and have high fees. They may not provide the best returns compared to mutual funds. Stick to a diversified mutual fund portfolio for growth and income.

Starting investments at a young age is commendable. Your disciplined SIP approach shows foresight. Increasing your SIP annually demonstrates a strong commitment to your financial goals.

Your awareness of insurance needs is impressive. Balancing growth and stability in your investments is wise.

Final Insights

Achieving financial independence requires discipline, planning, and regular reviews. Your current investment approach is commendable. Continue increasing your SIP, diversify your portfolio, and ensure adequate insurance coverage.

Engage a CFP for personalized advice and to stay on track. With a disciplined approach and professional guidance, you can achieve your goal of Rs 5 lakh monthly withdrawal and retiring in your late 40s or at 50.

Best Regards,

K. Ramalingam, MBA, CFP,

Chief Financial Planner,

www.holisticinvestment.in

Ramalingam Kalirajan |7290 Answers |Ask -Follow

Mutual Funds, Financial Planning Expert - Answered on Nov 25, 2024

Asked by Anonymous - Nov 25, 2024Hindi

Money

I'm single parent of a 5 years old daughter. My monthly income is 1lakh. I'm 35 year old. I'm in Government service. I've 15lakh in mutual fund. 10 lakh in ppf. 5 lakh in gpf, 10 lakh in NSC, and 5 lakh in SSY. I've EMI of 40K monthly for my apartment. Other expenses are almost 40k. Please suggest to improve financial independence.

Ans: Balancing financial independence while securing your daughter’s future is essential. Your steady government job provides stability, and your investments are a strong foundation. Below is a structured approach to help you optimise your finances and achieve greater independence.

Assessing Your Current Financial Position
Income and Savings: Your Rs 1 lakh monthly income and existing investments reflect financial discipline.

Fixed Expenses: Rs 40,000 EMI and Rs 40,000 living expenses leave Rs 20,000 for investments.

Existing Investments: You hold Rs 45 lakh in diversified instruments, ensuring reasonable safety and growth.

Immediate Priorities
1. Emergency Fund

Maintain a fund of 6–12 months' expenses for unforeseen events.

Set aside Rs 5–6 lakh in a liquid mutual fund or savings account.

2. Debt Management

Your Rs 40,000 EMI takes 40% of your income, which is manageable.

Avoid new loans until this EMI reduces significantly.

3. Daughter’s Education and Marriage

Estimate education costs considering inflation over the next 10–15 years.

Begin investing systematically to build this corpus.

Optimising Your Current Investments
1. Mutual Funds

Review your existing Rs 15 lakh mutual fund portfolio with a Certified Financial Planner.

Shift funds to actively managed large-cap, flexi-cap, and hybrid funds for balanced growth.

2. PPF and GPF

PPF and GPF provide safe, steady returns and tax benefits.

Continue contributions but avoid over-allocating, as returns are moderate.

3. NSC and SSY

NSC is a stable option but offers limited growth.

SSY is ideal for your daughter’s future due to tax-free, high returns.

4. Apartment EMI

Owning property ensures security but restricts cash flow.

Prepay EMI with lump sums if feasible, to reduce interest costs and free up funds.

New Investment Strategy
1. SIP in Growth-Oriented Mutual Funds

Invest Rs 10,000–15,000 monthly in equity mutual funds for wealth creation.

Focus on flexi-cap, large-cap, and mid-cap funds for diversified growth.

2. Balanced Advantage Funds

Allocate Rs 5,000 monthly to balanced advantage funds for reduced volatility.

These funds dynamically balance equity and debt exposure.

3. Child-Specific Plans

Invest in mutual funds tailored for children’s education and marriage goals.

Review returns periodically and align them with your daughter’s future needs.

4. Avoid Direct Funds

Direct funds lack professional guidance, which is crucial for your goals.

Use regular funds managed by a Certified Financial Planner for expertise.

Insurance and Risk Management
1. Life Insurance

Ensure adequate life cover of 10–15 times your annual income.

Avoid investment-cum-insurance policies like ULIPs. Instead, opt for a term plan.

2. Health Insurance

Enhance your health cover to Rs 10–15 lakh. Include coverage for your daughter.

Government health schemes may not be sufficient for private hospital expenses.

Tax Efficiency
Maximise deductions under Section 80C with PPF, SSY, and term insurance premiums.

Consider investing in NPS under Section 80CCD(1B) for additional Rs 50,000 tax deduction.

Plan redemptions from mutual funds carefully to minimise LTCG tax at 12.5%.

Steps for Financial Independence
1. Automate Savings

Set up automated SIPs and recurring deposits to ensure disciplined investments.

2. Increase Investments with Salary Growth

Allocate future salary increments towards investments rather than lifestyle upgrades.

3. Avoid Impulse Spending

Track expenses to identify areas for saving. Redirect savings to long-term goals.

4. Regular Portfolio Reviews

Review your portfolio every 6–12 months with a Certified Financial Planner.

Rebalance funds to align with market conditions and your financial goals.

Final Insights
Your financial discipline is impressive, given your responsibilities as a single parent. By optimising existing investments and adopting a strategic SIP approach, you can improve cash flow and achieve financial independence. Focus on long-term growth while ensuring adequate risk coverage for you and your daughter.

Best Regards,

K. Ramalingam, MBA, CFP,

Chief Financial Planner,

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

Latest Questions

Dr Nagarajan Jsk |183 Answers |Ask -Follow

NEET, Medical, Pharmacy Careers - Answered on Dec 21, 2024

Asked by Anonymous - Nov 19, 2024Hindi

Career

Hello sir I am mbbs graduated from russia in 2020,n passed with my fmge exam in india in 2021, I want to ask if i want to practice medicine or work as doctor in uk ? Is it necessary for me to pass plab exam exam? Or if i get sponsorship from any uk i will be able to work there and simultaneously i will give plab exam?? Please guide me i m so confused?

Ans: Hi, I understand that you pursued a medicine course in Russia (a non-European country) and, since you are from India, you have completed the FMGE. Now you want to practice or work in the UK as a doctor?

Based on your question, you are eligible to practice in India after completing your internship (which you haven't mentioned, but I assume you have completed it). The FMGE is essentially a licensure exam for Indian students who have completed their medical studies abroad, so you are eligible to practice in India only.

If you want to practice medicine in the UK, you need to complete the PLAB test, as you are from outside the UK/Switzerland/European countries (Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, Switzerland).

You also inquired about sponsorship. Here is the information related to sponsorship for practicing medicine in the UK.
(Extracted from general medical council, uk org. )Applying for registration using sponsorship
If you apply through sponsorship, you will have to satisfy the sponsor that you possess the knowledge, skills and experience required for practising as a fully registered medical practitioner in the UK. Each sponsor has their own scheme which we have pre-approved. If you can satisfy the requirements of their scheme, they will issue you with a Sponsorship Registration Certificate (SRC) which you will need for your application with us. Please ensure this is a Sponsorship Registration Certificate for GMC registration, as we can’t accept UK visa sponsorship certificates for your application for registration.
Please note that a core part of all sponsors' criteria is that a doctor applying for an offer of sponsorship must have been engaged in medical practice for three out of the last five years including the most recent 12 months. If you cannot meet these minimum criteria, it is unlikely that you'll be able to supply sufficient evidence to support your application for sponsorship.
Doctors applying through sponsorship are required to demonstrate their English language skills by achieving our current minimum scores in the academic version of the IELTS test or the OET (medicine version).
• Alder Hey International Fellowship Scheme (Anaesthetics)
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• BAPIO Training Academy Ltd - BTA International Fellowship Scheme – Internal Medicine with interest in Oncology with MSc in Oncology
• Barking Havering and Redbridge University Hospitals NHS Trust - BHRUT Sponsorship Scheme for Overseas Doctors in Clinical Radiology
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• Bradford District Care NHS Foundation Trust - International Medical Fellowship in Psychiatry
• Cambridge IVF, Cambridge University Hospitals NHS Trust – IVF Senior Clinical Fellowship Scheme
• Cambridge University Hospital – Senior Clinical Fellowship Scheme in Intensive Care Medicine/Anaesthesia
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• Derbyshire Healthcare NHS Foundation Trust - International Medical Fellowship Programme in Psychiatry
• Dudley Group NHS Foundation Trust
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• Guy's and St Thomas' Hospitals NHS Foundation Trust – Critical Care
• Guy’s and St Thomas’ NHS Foundation Trust – International Clinical Fellowship Programme (ICFP)
• Guy's and St Thomas' Hospitals NHS Foundation Trust – Obstetrics and Gynaecology
• Guy’s and St Thomas’ NHS Hospitals Foundation Trust – Oncology Specialty Training
• Guy's and St Thomas' NHS Hospitals Foundation Trust – Specialty Training in Anaesthetics
• Harefield Hospital, Royal Brompton and Harefield NHS Trust – Anaesthesia and Critical Care
• Hertfordshire Partnership University NHS Foundation Trust
• Hull University Teaching Hospitals NHS Trust – International Fellows at Hull University Teaching Hospitals NHS Trust
• Humber Teaching NHS Foundation Trust - Sponsored International Fellowship Scheme in Psychiatry
• Imperial College Healthcare NHS Trust – Emergency Medicine
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• Imperial College Healthcare NHS Trust – International Anaesthesia Trainees
• Imperial College Healthcare NHS Trust – Intensive Care Medicine
• Imperial College, London - Clinical Research
• King’s College Hospital NHS Trusts – International Critical Care Fellowship
• King’s College Hospital NHS Trusts – Paediatric Critical Care Fellowship
• Lancashire & South Cumbria NHS Foundation Trust - Psychiatry specialty Fellowship Scheme
• Lancashire Teaching Hospitals NHS Trust - Overseas Registrar Development and Recruitment (ORDER)
• Leeds Teaching Hospitals NHS Trust – International Fellowship Programme
• Leicestershire Partnership NHS Trust – International Medical Fellowship Programme in Psychiatry
• Lincolnshire Partnership NHS Foundation Trust – CESR Fellowship in Psychiatry or Sponsored Fellowship in Psychiatry
• Lysholm Dept of Neuroradiology – National Hospital for Neurology and Neurosurgery, UCL
• Manchester University NHS Foundation Trust – International Fellowship Programme
• Midlands Partnership NHS Foundation Trust
• Ministry of Defence – International Military Clinical Fellowships
• Modality Partnership - Modality Primary Care International Fellowship Scheme
• NAViGO Health and Social Care CIC – International Medical Fellowship in Psychiatry
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• Northamptonshire Healthcare NHS Foundation Trust – International Clinical Fellowship Scheme
• Northamptonshire Healthcare NHS Foundation Trust – International Clinical Fellowship Scheme (Psychiatry)
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• Royal College of Paediatrics and Child Health – MTI Scheme
• Royal College of Pathologists
• Royal College of Physicians of Edinburgh
• Royal College of Surgeons of England
• Royal College of Physicians of London
• Royal College of Physicians and Surgeons of Glasgow
• Royal College of Psychiatrists – MTI Scheme
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• Royal College of Radiologists – Clinical Oncology
• Royal College of Radiologists – RCR Specialty Training Sponsorship Scheme
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• Royal Wolverhampton Trust – Clinical Fellowship Programme
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• Sheffield Health and Social Care NHS Foundation Trust - International Medical Fellowship in Psychiatry
• Somerset NHS Foundation Trust – Somerset Overseas Doctors Sponsorship Scheme
• Somerset NHS Foundation Trust – Psychiatry Overseas Doctors Sponsorship Scheme
• South Warwickshire University NHS Foundation Trust - GMC Multispecialty Sponsorship Scheme
• South West Yorkshire Partnership NHS Foundation Trust – International Fellowship in Psychiatry
• Southmead Hospital, North Bristol NHS Trust – International Obstetrics and Gynaecology Training Programme
• St Bartholomew’s Hospital, Barts Health NHS Trust – St Bartholomew’s Critical Care Fellowship
• St George’s University Hospitals NHS Foundation Trust – International Anaesthetics Fellowship Programme
• St George’s University Hospital NHS Foundation Trust (Dr Nirav Shah) – International Intensive Care Medicine Trainees
• St George’s University Hospitals NHS Foundation Trust – International Emergency Medicine Trainees
• Surrey and Borders Partnership (SABP) NHS Foundation Trust – International Psychiatric and Community Paediatrics Sponsorship Scheme
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• University College London Hospitals NHS Foundation Trust, Department of Critical Care – Clinical Fellowship Critical Care and Perioperative Medicine
• University Hospital Birmingham NHS Foundation Trust - International Training Fellowship Programme
• University Hospitals Birmingham NHS Foundation Trust - UHB LED Fellowship Programme
• University Hospitals Bristol and Weston NHS Foundation Trust – Bristol Children's Hospital International Fellowship Scheme
• University Hospitals Bristol and Weston NHS Foundation Trust - Department of General Internal Medicine at Weston General Hospital
• University Hospitals Coventry and Warwickshire NHS Trust
• University Hospitals of Leicester NHS Trust - Postgraduate Clinical Fellowship Programme
• University of Buckingham – Master of Medicine
• University of Buckingham – Master of Surgery
• University of Chester and Cheshire and Wirral Partnership NHS Trust – International Training Fellows Psychiatry
• University of Hertfordshire – Professional Doctorate in General Internal Medicine (Clinical MD) Programme
KINDLY NOTE: If your sponsor is not on this list then you cannot apply using sponsorship.
If you have any further questions, please visit the GMC website for more information.

WISH YOU ALL THE VERY BEST.

Dr Nagarajan Jsk |183 Answers |Ask -Follow

NEET, Medical, Pharmacy Careers - Answered on Dec 21, 2024

Asked by Anonymous - Aug 02, 2024Hindi

Career

I’m mbbs final year student from Kathmandu university want pg medicine from UAE

Ans: You have provided very limited information. I understand that you are a student from Kathmandu University and wish to pursue higher education in medicine in the UAE. To provide a more accurate response, I need the following details:

What is your nationality? (Based on your nationality, I can check the relevant requirements from the health department regarding courses and internships).

Dr Nagarajan Jsk |183 Answers |Ask -Follow

NEET, Medical, Pharmacy Careers - Answered on Dec 21, 2024

Asked by Anonymous - Dec 20, 2024Hindi

Career

Sir my son has 92 percentile in cat 2024..what are his scopes of admission.

Ans: Hi Sir,
You have provided very limited information to obtain the details. However, the percentile of the candidate will not solely determine the admission process. Other factors are also involved, including:

- Course
- Institution
- Caste
- Creamy layer
- Gender

But, there may be possibilities for admission to the following IIMs: IIM Visakhapatnam, Udaipur, Bodhgaya, Shillong, and Rohtak.

Ramalingam Kalirajan |7290 Answers |Ask -Follow

Mutual Funds, Financial Planning Expert - Answered on Dec 21, 2024

Asked by Anonymous - Dec 21, 2024Hindi

Money

Hi Sir, I follow your articles regularly and your detailed assessment is really awesome.I am 47yrs Male with wife, 20&18 years kids, elder one is in B.Tech and younger one is 12th. My wife is a home maker. Coming to financials. I have 4 houses including the one residing worth 10cr(total) and getting rental income of 70k per month, invested in stocks and MFs worth 60L, have foreign stocks of worth 1.7cr, accumulated pf around 1.3cr. I have farm lands worth 5cr. Have 1.2cr loan and salary of ~4L (net). current sips in equity 70k/month, have 5Cr term plan, health insurance for family 50L. How do I plan my retirement at 52-53years assuming 80 years life expectancy. Don't want to depend on kids and need regular income ~3-4L per month.

Ans: Asset Evaluation
Real Estate:
You own four houses worth Rs 10 crore, generating Rs 70,000 monthly rental income. This is a solid base for passive income. However, real estate can have fluctuating maintenance costs, tenant issues, and varying rental yields over time.

Stocks and Mutual Funds:
Your Rs 60 lakh investment in stocks and mutual funds is a commendable step. Active mutual funds offer professional fund management and can outperform index funds over time.

Foreign Stocks:
Your Rs 1.7 crore portfolio in foreign stocks adds geographical diversification. Monitor currency exchange fluctuations and global market trends.

Provident Fund (PF):
With Rs 1.3 crore in PF, this is a reliable retirement corpus. The fund provides fixed returns and tax benefits, adding stability.

Farm Lands:
Farm lands worth Rs 5 crore are an illiquid but valuable asset. They might not generate consistent income unless leased or developed.

Loans:
A loan liability of Rs 1.2 crore needs prioritised repayment. Focus on loans with higher interest rates first.

Insurance Coverage:
A Rs 5 crore term plan is robust. Your Rs 50 lakh health insurance is sufficient for unexpected medical emergencies.

Retirement Goals
You need Rs 3–4 lakh monthly for 27–28 years post-retirement.
The portfolio must generate steady, inflation-adjusted returns.
Action Plan for Retirement
Debt Management
Prepay High-Interest Loans:
Use a portion of your surplus income to prepay loans. This reduces interest outflow and increases your cash flow.

Avoid New Loans:
Focus on reducing existing liabilities instead of taking on new ones.

Portfolio Restructuring
Real Estate:
Retain essential properties. Sell underperforming or non-essential properties to reduce concentration in real estate. Invest proceeds in mutual funds or debt instruments for diversification.

Mutual Funds (MFs):
Increase SIPs in actively managed funds. They outperform direct funds due to guidance from Certified Financial Planners and MFDs. Regular funds offer better tracking and professional assistance.

Stocks:
Monitor direct equity investments closely. Consider reallocating underperforming stocks to mutual funds for better management.

Debt Instruments:
Invest in high-quality debt funds or fixed-income securities for stability. These instruments balance equity volatility and ensure steady returns.

SIP Strategy
Increase SIPs from Rs 70,000 to Rs 1 lakh/month.
Allocate 70% to equity funds for long-term growth.
Invest 30% in debt funds for stability and liquidity.
Emergency Fund
Maintain a 12-month expense reserve in liquid funds or fixed deposits.
This covers unexpected expenses without disturbing investments.
Income During Retirement
Systematic Withdrawal Plan (SWP)
Use SWPs in mutual funds to generate regular income.
Withdraw 6–8% annually from your mutual fund portfolio for a steady income stream.
Rental Income Optimisation
Review property rents regularly.
Invest part of rental income in equity or debt mutual funds for compounding.
Dividend Stocks
Retain high-dividend-yield stocks for regular income.
Reinvest surplus dividends for long-term growth.
Tax Efficiency
Equity Funds Taxation:
Long-term gains above Rs 1.25 lakh are taxed at 12.5%. Short-term gains are taxed at 20%.

Debt Funds Taxation:
Both short- and long-term gains are taxed per your income slab.

Real Estate Capital Gains:
Use exemptions under Sections 54 or 54F to save tax on property sales.

Inflation Protection
Allocate 60–70% of your portfolio to equity investments.

Equity provides inflation-adjusted returns over time.

Debt funds and fixed instruments safeguard against equity market volatility.

Estate Planning
Draft a will to allocate assets transparently among family members.
Use nomination and joint ownership to avoid legal complications.
Consider a family trust for farm lands to avoid disputes.
Periodic Review
Review your financial plan every six months.
Adjust investments based on market conditions, goals, and needs.
Consult a Certified Financial Planner regularly for updates.
Finally
A well-diversified portfolio ensures financial independence post-retirement. Focus on debt repayment, portfolio balance, and tax-efficient withdrawals. Your assets can comfortably generate Rs 3–4 lakh monthly income, adjusted for inflation.

Best Regards,
K. Ramalingam, MBA, CFP,

Chief Financial Planner,

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

Kanchan Rai |444 Answers |Ask -Follow

Relationships Expert, Mind Coach - Answered on Dec 21, 2024

Question by Kevin - Dec 19, 2024Hindi

Relationship

I am the eldest sibling in our families and aged 51. Normally, whenever anyone in the family has a problem - financial, mental, psychological, issue with people or anything else, they come up to discuss with me and share. Well, many would say I am lucky as people look up to me when they are in any kind of a problem. But that is not the case. Sadly no one is around with whom I can discuss or even think to share my issues, my problems. I do not have any friends. Sadly, yes, that is a fact and at my age, I dont expect that here we have a culture where we can get to making friends, at least the kind of friends with whom you can confide, share your feelings, problems. I tried and failed. Maybe because I am introvert or maybe I am too cautious. To make it more complicated, I dont work in the regular kind of job. I am a lone person who works as a freelance from home. This limits my outreach when it comes to interacting with real people. I have clients, business contacts, but I cannot get personal with them. It will never be a good choice. My wife is busy with her job + we do not have any relation beyond the daily matters related to household and it has been more than 10 years now that we live this way. Tried to sort out things with her but she just does not have time and interest (after all who wants to add on to tensions, stress). My daughter is after all my daughter - I cannot share these with her, and definitely at 10 she is too young to be one to discuss such stuff. I am not sure how far this issue can be fixed but I am hopeful to find some path here.

Ans: Dear Kevin,
Starting small can be helpful. Consider connecting with people through shared interests or hobbies, either online or in person, where the pressure to immediately open up is minimal. Online communities, local meetups, or volunteer activities can create low-stakes opportunities to connect with like-minded individuals. The goal isn’t to instantly find someone to confide in but to slowly build a sense of belonging and companionship.

Your relationship with your wife appears to be another significant source of emotional distance. While her lack of interest in deep conversations may seem like a barrier, it’s worth exploring other ways to reconnect—perhaps by spending time together in shared activities or revisiting moments that once brought you closer. Sometimes, relationships stuck in routines benefit from new experiences or even professional counseling to navigate the underlying dynamics.

Regarding your daughter, while it’s clear she cannot shoulder your emotional burdens, she can still be a source of joy and connection. Investing time in activities with her can provide a sense of fulfillment and grounding that counters loneliness.

Above all, remember that reaching out for professional support, such as therapy, is not a sign of weakness but an act of self-care. A therapist can provide a safe space to express your feelings and help you develop strategies to foster deeper connections and manage emotional isolation.

You deserve to feel supported and connected, and even if the journey to finding that seems long, every step you take toward opening up or seeking out others is a move toward a more fulfilling and less lonely existence.

T S Khurana |260 Answers |Ask -Follow

Tax Expert - Answered on Dec 21, 2024

Asked by Anonymous - Nov 22, 2024Hindi

Money

My Question is for New Tax Regime for Financial Year 2024 – 25. Total gross Income is Rs.9 lakhs and along with that income from share / stock trading i.e short term gains of Rs. 1 lakh. Could you please help me advise if what would be the tax liability?

Ans: 01. Considering your Income of Rs.9.00 lakhs as business income & Rs.1.00 lakh as STCG on securities, without any tax savings, your tax liability would be around Rs.62,400.00 in New tax regime. If we opt for the old tax regime, your tax liability would be much more than this.
Most welcome for any further clarifications. Thanks.

T S Khurana |260 Answers |Ask -Follow

Tax Expert - Answered on Dec 21, 2024

Question by SA - Nov 11, 2024Hindi

Money

I got a residential property through will from my mother,,property is 30 years old and i am planning to sell it, in that case i am going to get Rs 165lacks,, what will be the tax implication and how to avoid the same kindly advise i am 55 years old married man with a daughter

Ans: 01. In this case, you would be subjected to LTCG (Long Term Capital Gain) tax.
02. To work out LTCG, you should reduce its Cost from the Sale proceeds (Rs.165.00 lakhs).
of property, which was costed to your mother.
03. However, following details may help you to assess your tax liability.
Under present provisions of Income Tax Act, you may opt any of the options (Long Term
Capital Gains), as under :
(a). Tax Rate 12.50% without indexation or
(b). Tax Rate of 20% with Indexation.
04. You may calculate your tax liability under both options & may opt for the tax regime, where tax liability is minimum.
05. To avoid tax, you may invest in purchase of some house property. Exemption available would be minimum of Cost of new house property or the LTCG, which ever is less.
06. You have the option to purchase Capital Gain Bonds of NHAI etc., for tax saving.
07. Most welcome for any further clarifications. Thanks.

T S Khurana |260 Answers |Ask -Follow

Tax Expert - Answered on Dec 21, 2024

Asked by Anonymous - Dec 19, 2024Hindi

Money

Hello Sir, I worked in a Pvt Ltd company from 2006 to 2011, and they had their own PF trust. The company was later sold off to another firm. I still haven't withdrawn the my PF amount. How will i be able to do that. I have the PF number and ESP number. Since this was before 2011 , my UAN is not linked to this account. How will i be able to retrieve my PF amount that is still stuck here.

Ans: Kindly keep in touch with your previous employer (present owner of the company), in this connection. There should not be any problem in getting your PF amount, except certain formalities/ forms to be submitted.
Most welcome for any further clarifications. Thanks.

T S Khurana |260 Answers |Ask -Follow

Tax Expert - Answered on Dec 21, 2024

Asked by Anonymous - Dec 21, 2024Hindi

Money

Dear Guru. I have inherited a property in Mumbai from my deceased father which was purchased in 1983 by him. If today i sell the property which is worth 2.60 Crs whats my capital gains tax and how will it be calculated

Ans: 01. In absence of exact figures, it is not possible to calculate your Capital Gains Tax. However, following details may help you to assess your tax liability.
02. Under present provisions of Income Tax Act, you may opt any of the options (Long Term
Capital Gains), as under :
(a). Tax Rate 12.50% without indexation or
(b). Tax Rate of 20% with Indexation.
03. You may calculate your tax liability under both options & may opt for the tax regime, where tax liability is minimum.
04. Most welcome for any further clarifications. Thanks.

Ramalingam Kalirajan |7290 Answers |Ask -Follow

Mutual Funds, Financial Planning Expert - Answered on Dec 21, 2024

Question by Anil - Dec 20, 2024Hindi

Money

Top4 sips with 15k amount suggest me

Ans: Here’s an updated strategy for your Rs. 15,000 SIP allocation, replacing the sectoral/thematic fund with a small-cap fund for better long-term growth potential.

Suggested SIP Allocation (Rs. 15,000)
Large-Cap Fund

Allocation: Rs. 4,000/month
Objective: Stability and steady growth by investing in India’s top 100 companies.
Why Choose: Provides consistent returns and low volatility in your portfolio.
Flexi-Cap Fund

Allocation: Rs. 4,000/month
Objective: Diversified exposure across large, mid, and small-cap stocks.
Why Choose: Offers balanced risk and returns with flexibility during market cycles.
Mid-Cap Fund

Allocation: Rs. 3,500/month
Objective: Tap into the growth potential of medium-sized companies.
Why Choose: Higher returns with manageable risk compared to small caps.
Small-Cap Fund

Allocation: Rs. 3,500/month
Objective: Focus on fast-growing small-cap companies.
Why Choose: High-growth potential over the long term, though with higher volatility.
Why Include Small-Cap Funds?
Long-Term Growth: Small-cap companies have immense potential to grow significantly over time.
Diversification: Adds exposure to an underrepresented segment, complementing large and mid-caps.
High Returns: Potential for higher returns compared to other categories, albeit with higher risk.
Key Considerations
Investment Horizon: Stay invested for at least 7-10 years to mitigate short-term volatility.
Active Fund Management: Avoid direct or index funds to leverage professional expertise.
Regular Monitoring: Review fund performance periodically with a Certified Financial Planner.
Tax Implications
Equity Funds:
LTCG above Rs. 1.25 lakh/year taxed at 12.5%.
STCG (held less than 1 year) taxed at 20%.
Final Insights
This updated allocation ensures a mix of stability, moderate risk, and high growth. With consistent SIPs and periodic reviews, you can achieve robust wealth creation over the long term. A Certified Financial Planner can assist in optimising your investment strategy.

Best Regards,

K. Ramalingam, MBA, CFP,

Chief Financial Planner,

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

See more questions »

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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