Home > Money > Question
Need Expert Advice?Our Gurus Can Help

Single Woman, 32, Fresh Start: Where to Invest?

Ramalingam

Ramalingam Kalirajan  |7831 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on Jul 20, 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
sana Question by sana on Jul 20, 2024Hindi
Listen
Money

Hello, im a single woman, 32 years just started my career after divorce, want to build a retirement for myself and achieve financial freedom. Monthly income is 40 k and 15k is my expenses . 25k is my saving every month but not sure where should i invest it to have a good retirement and financial freedom

Ans: Monthly Savings Allocation
You save Rs 25,000 each month.

This is a strong start towards financial freedom.

Emergency Fund
Build an emergency fund first.

Save at least 6 months of expenses.

This means setting aside Rs 90,000.

Use a high-interest savings account or short-term debt fund.

Retirement Planning
Invest in a mix of equity and debt mutual funds.

Equity mutual funds provide growth over time.

Debt mutual funds offer stability and lower risk.

Disadvantages of Index Funds
Index funds only match market performance.

They don’t aim to beat the market.

Actively managed funds have higher return potential.

Professional fund managers make strategic decisions.

Investing through Mutual Fund Distributors (MFD)
Use an MFD with a CFP credential for investments.

They provide tailored advice and support.

They help with regular portfolio reviews.

This keeps your investments on track.

Systematic Investment Plan (SIP)
Start a SIP in mutual funds.

SIPs help in disciplined investing.

They spread investment over time, reducing risk.

Health and Life Insurance
Get adequate health insurance coverage.

Consider term insurance for life cover.

This protects your financial goals.

Diversification
Diversify your investments.

Include equity, debt, and hybrid funds.

This balances risk and reward.

Regular Reviews
Review your investments regularly.

Adjust based on market conditions.

Work with a Certified Financial Planner for guidance.

Final Insights
Focus on building a balanced portfolio.

Regular savings and disciplined investing are key.

Aim for financial freedom and a secure retirement.

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.
Money

You may like to see similar questions and answers below

Moneywize

Moneywize   |174 Answers  |Ask -

Financial Planner - Answered on Jan 24, 2024

Asked by Anonymous - Jan 23, 2024Hindi
Listen
Money
I am 40 years old I have good investments in real estate, 2 life insurance, 4 FDs, six MFs, what do you suggest as an retirement strategy. where should I invest now? I have 26 lakh to invest. What are the best options for me? Could you please suggest
Ans: Congratulations on having a diversified investment portfolio! As you plan for retirement, it's essential to align your investment strategy with your financial goals, risk tolerance, and time horizon. Here are some general suggestions, but keep in mind that individual circumstances may vary, and it's always a good idea to consult with a financial advisor for personalised advice:

Review your current portfolio:

• Assess the performance and risk profile of your existing investments.

• Consider rebalancing your portfolio to ensure it aligns with your current financial goals and risk tolerance.

Diversify further:

While you already have a diversified portfolio, you may want to explore other asset classes like international equities, gold, or alternative investments to enhance diversification.

Consider Tax-efficient Investments:

Evaluate tax-saving investment options like Equity-Linked Saving Schemes (ELSS) or the Public Provident Fund (PPF) that offer tax benefits along with potential returns.

Systematic Investment Plans (SIPs):

Consider investing in equity mutual funds through Systematic Investment Plans (SIPs). SIPs allow you to invest a fixed amount regularly, promoting disciplined investing and taking advantage of rupee cost averaging.

NPS (National Pension System):

NPS is a long-term retirement-focused investment product. It offers a mix of equity, fixed deposits, liquid funds, and government funds. Contributions to NPS are eligible for tax deductions.

Annuities:

You might consider allocating a portion of your portfolio to annuities, which provide a regular income stream during retirement. However, do thorough research and consider the terms and conditions before opting for an annuity.

Emergency Fund:

Ensure you have an adequate emergency fund that covers 3-6 months of living expenses. This fund should be easily accessible and provide a financial cushion in case of unexpected expenses.

Review Insurance Coverage:

Ensure your life insurance coverage is adequate and aligns with your current needs. Consider reviewing the policies to make any necessary adjustments.

Real Estate:

Since you already have investments in real estate, evaluate whether it makes sense to continue investing in this asset class or if adjustments are needed based on your overall portfolio allocation.

Consult a Financial Advisor:

Consider consulting with a financial advisor who can provide personalized advice based on your specific financial situation, goals, and risk tolerance.

Remember that investment decisions should be made based on a careful consideration of your financial goals and risk tolerance. It's advisable to periodically review your portfolio and make adjustments as needed.

..Read more

Latest Questions
Anu

Anu Krishna  |1488 Answers  |Ask -

Relationships Expert, Mind Coach - Answered on Feb 05, 2025

Listen
Anu

Anu Krishna  |1488 Answers  |Ask -

Relationships Expert, Mind Coach - Answered on Feb 05, 2025

Anu

Anu Krishna  |1488 Answers  |Ask -

Relationships Expert, Mind Coach - Answered on Feb 05, 2025

Listen
Relationship
Hi Anu I am a married woman with a very supportive husband and daughter. For last 10 years I am having an affair with a colleague and things are pretty well between us. Both of us have found the comfort and requisite from each other which we missed in married life and it saved our respective marriage though none of our family are aware of it. We balanced this till now effectively. Recently I got an opportunity within the company which is very lucrative and will enhance my career goals altogether however, for this I have to shift to another state. Now , my bf is very upset on this as it means he will not be able to meet me as we do every day. My husband and Daughter is fine with my shifting however my parents who are old are also apprehensive since I am the only child and do take care of them. My husband has assured to support them in absence of me and I have full confidence on him. All throughout my life I have focused on my professional career and have worked towards that and now when I got this opportunity I am emotionally unstable and unable to take the decision. My dilemma is surrounding various aspects. 1- Don’t want to leave my BF as he is my strength. 2- My parents are old and since I being the only child,they ae 3- If I could not perform in the new role then? 4- The daily hardship that I have to take over in a new place as my husband will not shift. 5- Remuneration wise not as such however if you say power then yes. Learning – knowledge enhancement and career upliftment - yes very much. 6- Current role will not grow much however stability as of now do exists. Can you help me to take the decision ?
Ans: Dear Nibedita,
What is important to you and what helps you grow professionally and personally must be looked at? Constraints are always going to play a role BUT working around it may help you make a decision. If professionally you are going to grow into the role and for this you need to work around things for the time being, then you must do just that. But in all this, do factor that you have a daughter who is still young and will need your presence a lot; physically and emotionally.
Now, how you work this with your BF is something that is between the two of you; but it's not power or money BUT how you grow in your new role.
Also, talk to your family and come to an arrangement whereby they also become your pillar of strength and support. You will then be able to come to a viable decision.

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.

Close  

You haven't logged in yet. To ask a question, Please Log in below
Login

A verification OTP will be sent to this
Mobile Number / Email

Enter OTP
A 6 digit code has been sent to

Resend OTP in120seconds

Dear User, You have not registered yet. Please register by filling the fields below to get expert answers from our Gurus
Sign up

By signing up, you agree to our
Terms & Conditions and Privacy Policy

Already have an account?

Enter OTP
A 6 digit code has been sent to Mobile

Resend OTP in120seconds

x