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Jinal Mehta  |89 Answers  |Ask -

Financial Planner - Answered on Feb 25, 2024

Jinal Mehta is a qualified certified financial professional certified by FPSB India. She has 10 years of experience in the field of personal finance.
She is the founder of Beyond Learning Finance, an authorised education provider for the CFP certification programme in India.
In addition, she manages a family office organisation, where she handles investment planning, tax planning, insurance planning and estate planning.
Jinal has a bachelor's degree in management studies. She also has a diploma in in financial management from NMIMS, Mumbai.
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Asked by Anonymous - Feb 15, 2024Hindi

Hello Jindal I am 46 Y old just lose my well paid job . Require your suggestion for continuous getting money from interest . I have 3 flats . First one is loan fee. Second one has 6 L loan remaining . 3 rd one has 1.18 Cr loan . I require 40 L for my daughter education 2024-2028 and require 40 L sone education 2028-2032.i also want 1 L per month now onwards for meeting daily needs.i have following investment. Mutual funds 14.5 L . FD 5 L Government Bond 10 L PPF wife 17.5 L PPF my self 7.5 L and othe nsc bond share 9 L . I will get approx 20 L from my employee and have 72 L in EPF and 4 L wife EPF. Please guide me . Should I sold my flat and pay out the loan of 1.18 Cr and move in same home . If I do then I left with 40 L .

Ans: Please do not take such decision immediately. It is a good thing that you want to secure your children's future. But as of now, i dont see any such need to sell off your flat. your children may not need this much of money for their education or they may need more. Both the other houses can be rented out and the rentals can be invested in mfs. These funds may be tagged only to their education. Any additional requirements can be funded through education loans.
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  |5295 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on Apr 05, 2024

Asked by Anonymous - Dec 13, 2023Hindi
Hi, i m a breadwinner to my family of 4 (Myself 44yrs, wife 42, one daughter 7yrs n son 4 yrs). I am salaried engineering professional in private firm with 13L/annum. To have financial gain, i invested in shares, gained a little but now in loss of Rs 3L with total investment of 8L. Its been 2yrs but it seems it will be waste of time further as it is unpredictable when those shares will recover? n if not any profit when can i get the principal amount? Somebody suggested me to withdraw all from shares n with those Rs 5L, invest in MF not only to recover 3L but also gain profit in Long term. My investment goals are obviously as below; 01) Lumpsum amount for child education after 10 n 15 yrs from now. 02) For their marriage. After 20yrs from now. 03) Have sufficient funds as lumpsum or monthly post retirement. 15yrs from now. As an asset, I have got only flat amounting 80L now in Noida. A principal home loan outstanding 14L on that property, 24K as EMI. I m staying in rented accommodation in Panvel - Mumbai where i am doing Job. My monthly saving of now is almost NIL after all expenses, but can somehow manage to invest around 5~6k. Plz suggest, with given conditions what should be my next step to achieve above 3 goals?
Ans: Given your current situation, it's essential to reassess your investment strategy and prioritize long-term financial goals. Here's a suggested plan:

Immediate Action on Shares: Consider selling the shares to minimize further losses and reinvest the remaining amount in more stable investment avenues like mutual funds.

Mutual Fund Investment: With the proceeds from the shares (5L), consider investing in mutual funds. Given your long-term goals, opt for diversified equity funds or balanced funds that offer growth potential with comparatively lower risk.

Emergency Fund: Since your monthly savings are limited, focus on building an emergency fund equivalent to at least 6-12 months of your expenses. Keep this fund in a liquid or low-risk investment option like a savings account or short-term debt fund.

Child Education and Marriage: For your children's education and marriage goals, consider starting SIPs (Systematic Investment Plans) in equity mutual funds. Allocate funds based on the respective time horizons and risk appetite.

Retirement Planning: Since you have a flat as an asset, ensure that you continue to pay off the home loan EMIs regularly. Additionally, allocate a portion of your monthly savings towards retirement planning through SIPs in retirement-focused mutual funds or NPS (National Pension Scheme).

Regular Review: Regularly review your investment portfolio's performance and make necessary adjustments based on changing market conditions, financial goals, and risk tolerance.

Seek Professional Advice: Consider consulting a financial advisor who can provide personalized guidance tailored to your specific financial situation and goals.

By following these steps and staying disciplined in your investment approach, you can work towards achieving your financial goals and securing your family's future.

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Ramalingam Kalirajan  |5295 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on May 06, 2024

Asked by Anonymous - Apr 11, 2024Hindi
Hello Sir, I lost my job in layoff . I am 46 year old . I had a home loan of 1.18 cr with EMI of 1.07L per month . I have 2 kids, Daughter is in 12th and Son is in 9th . I am selling my other 2 flats so that i can repay the loan and left money i will put in FD. I have to plan my children education 60 L and Retirement planning ( Next Month onwards i require 1 L ). After paying home loan I left with 70 L which i will put in FD . I have 70 L in EPF, 30 L in PPF maturity in 2026, 19 L FD, 3.3 L NSC ( Maturity at 2032/ 6.6L), 14 L Mutual Fund. My wife earns 50 K per month . Monthy expenses are 75K . My goals of havinng 1 L from next month and kids education can be achieved with these investment .
Ans: I'm sorry to hear about your job loss, but it's commendable that you're taking proactive steps to manage your finances during this challenging time. Let's create a plan to address your immediate needs and long-term goals:

• Home Loan Repayment: Selling your other two flats to repay the home loan is a prudent decision, as it will relieve you of the burden of the EMI and reduce financial stress.

• Emergency Fund: It's essential to maintain an emergency fund to cover unexpected expenses and loss of income. Since you'll have 70 lakhs from the sale of your flats, consider keeping a portion of this amount aside as your emergency fund, ideally in a liquid and accessible form like a savings account or short-term FD.

• Children's Education: With 60 lakhs earmarked for your children's education, you can explore investment options that offer growth potential over the medium to long term. Consider a combination of equity mutual funds, balanced funds, and fixed-income instruments to achieve your education goals. Since your daughter is in 12th grade, you may need to prioritize her education expenses in the near term.

• Retirement Planning: Your goal of having 1 lakh per month from next month onwards for retirement can be achieved by structuring your existing investments wisely. With 70 lakhs in EPF, 30 lakhs in PPF (maturing in 2026), and other fixed deposits and mutual funds, you have a solid foundation. You can explore options like Senior Citizen Savings Scheme (SCSS), Post Office Monthly Income Scheme (POMIS), and systematic withdrawal plans (SWPs) from mutual funds to generate a regular income stream in retirement.

• Income Replacement: Since you'll no longer have a regular income from employment, it's crucial to plan for income replacement. Your wife's income of 50,000 per month will provide some support, but you may need to supplement it with income generated from your investments.

• Expense Management: Given your monthly expenses of 75,000, it's essential to budget carefully and prioritize your spending. Look for areas where you can cut costs without compromising on essentials.

• Professional Advice: Consider consulting with a Certified Financial Planner who can help you develop a comprehensive financial plan tailored to your specific circumstances and goals. They can provide valuable guidance on investment strategies, tax planning, and retirement planning.

In conclusion, while losing your job is undoubtedly challenging, with careful planning and prudent financial management, you can navigate this period of transition successfully. By leveraging your existing assets and making strategic investment decisions, you can work towards achieving your children's education goals and securing a comfortable retirement for yourself. Stay focused, stay positive, and remember that you're not alone in this journey.

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Ramalingam Kalirajan  |5295 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on Jul 06, 2024

Asked by Anonymous - Jun 24, 2024Hindi
Hello sir I m 48 years old and me & my wife got earing of 1+ lakhs per month and home loan of rs 40 lakhs.. Which i took 4 years back..with EMIof ?39615/ month Which i have planned to increase by 5% every year I too have daughter of 5 years .. Who has started going to school From this year As per saving is concerned.. I have ppf... ?2000/ month Bajaj allience? 6000/year Sukanya s yojana ? 1000/ month Met life pnb ? for last 10 years. ? 3000/ month Epf.. Both me & my wife Since last year 19& 18 years respectively How shd i manege my finance So that i could.. Finish the loan before me & my wife retirement.. Thank you
Ans: Managing your finances effectively can ensure a secure and comfortable future for you and your family. At 48, with a combined monthly earning of over Rs 1 lakh and a daughter starting school, it's essential to have a robust financial plan. Let's dive into how you can manage your finances to finish your home loan before retirement and secure your family's future.

Understanding Your Financial Position
Firstly, let's assess your current financial status:

Age: 48 years
Combined Monthly Earnings: Over Rs 1 lakh
Home Loan: Rs 40 lakhs, taken 4 years back
EMI: Rs 39,615/month, planned to increase by 5% annually
Daughter's Age: 5 years, recently started school
Existing Investments and Savings
You have several ongoing investments and savings plans:

PPF: Rs 2000/month
Bajaj Allianz: Rs 6000/year
Sukanya Samriddhi Yojana: Rs 1000/month
Met Life PNB: Rs 3000/month (for last 10 years)
EPF: Both you and your wife have been contributing (19 years and 18 years respectively)
Goal: Finishing the Home Loan Before Retirement
Your primary goal is to finish the home loan before you and your wife retire. Let's break down the steps to achieve this.

Step 1: Evaluating and Adjusting the EMI
You're currently paying an EMI of Rs 39,615/month. Increasing this by 5% annually is a good strategy. This will help you pay off the loan faster and reduce the total interest paid. Here’s how you can implement it effectively:

Yearly Increase: Make sure to adjust your budget to accommodate this increase each year.
Prepayments: Use any bonuses or extra income for prepayments. This reduces the principal amount and the interest burden.
Step 2: Reviewing Your Investments
Now, let's review and optimize your existing investments for better returns and liquidity.

PPF (Public Provident Fund):

Pros: Safe, tax-free returns.
Cons: Lock-in period of 15 years, partial withdrawals allowed after 7 years.
Recommendation: Continue with PPF for its safety and tax benefits.
Bajaj Allianz:

Pros: Provides insurance cover along with investment.
Cons: Returns are generally lower compared to mutual funds.
Recommendation: Consider surrendering this policy and investing the proceeds in mutual funds for better returns.
Sukanya Samriddhi Yojana:

Pros: High-interest rate, tax benefits, specifically for girl child.
Cons: Lock-in period until the girl turns 21.
Recommendation: Continue with this as it's specifically for your daughter’s future.
Met Life PNB:

Pros: Provides insurance cover.
Cons: Lower returns compared to mutual funds.
Recommendation: Evaluate the surrender value and consider moving the funds to mutual funds.
Step 3: Building a Balanced Portfolio
Creating a balanced portfolio with a mix of equity and debt investments will help you achieve your financial goals.

Equity Mutual Funds:

Pros: Higher potential returns, suitable for long-term goals.
Cons: Market risk, requires patience and a long-term horizon.
Recommendation: Allocate a portion of your savings to equity mutual funds for wealth creation.
Debt Mutual Funds:

Pros: Lower risk, stable returns.
Cons: Lower returns compared to equity.
Recommendation: Use debt mutual funds for medium-term goals and to balance the risk in your portfolio.
Step 4: Increasing EPF Contributions
Both you and your wife have been contributing to EPF for many years. Consider increasing your voluntary provident fund (VPF) contributions. EPF offers safe and tax-free returns, making it an excellent tool for retirement planning.

Step 5: Education Fund for Your Daughter
With your daughter starting school, it's essential to plan for her future education expenses.

Sukanya Samriddhi Yojana:

Continue contributing as it offers good returns and tax benefits.
Education Fund:

Recommendation: Start a dedicated education fund with equity mutual funds. This will help you meet her higher education expenses.
Step 6: Emergency Fund
Ensure you have an emergency fund that covers at least 6-12 months of your monthly expenses. This fund should be easily accessible and kept in liquid assets like a savings account or liquid mutual funds.

Step 7: Insurance Coverage
Having adequate insurance coverage is crucial to protect your family’s financial future.

Term Insurance:

Ensure both you and your wife have term insurance coverage that is 10-15 times your annual income. This provides financial security in case of an unfortunate event.
Health Insurance:

Have comprehensive health insurance for your entire family to cover medical expenses.
Analyzing and Rebalancing Your Portfolio
Regularly review your portfolio to ensure it remains aligned with your financial goals and risk tolerance. Rebalance your portfolio annually to maintain the desired asset allocation between equity and debt.

It’s commendable that you are focused on managing your finances and securing your family’s future. Your commitment to increasing your EMI and planning for your daughter's education is impressive. Balancing multiple financial goals at this stage of life is challenging, and your proactive approach is truly inspiring.

Final Insights
To achieve your goal of finishing the home loan before retirement, focus on increasing your EMI, making prepayments, and optimizing your investments. Building a balanced portfolio with equity and debt mutual funds will help in wealth creation and risk management. Regularly review and rebalance your portfolio to stay on track.

Best Regards,

K. Ramalingam, MBA, CFP,

Chief Financial Planner,


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Latest Questions
Nayagam P

Nayagam P P  |2471 Answers  |Ask -

Career Counsellor - Answered on Jul 25, 2024

Presently Im a class 12 commerce student and i want to join BCA for my degree next year but i dont know what are the careers after BCA.
Ans: Adella, first of all, shortlist top 5-10 colleges to get admission for your BCA.

Know the Eligibility Criteria / Admission Process / Entrance Exams (such as CUET & other Private Colleges' its own Entrance Exams) you will have to appear in.

There are multiple career options after BCA, but depends upon which specialization you will choose, which specilizations are available in the college you will join & which all skills you will upgrade. Some of the examples of specializations available for BCA are:

1) Software Development
2) Cyber Security
3) Data Analytics
4) Web Development
5) Mobile Application Development
6) Networking & System Administration
7) Cloud Computing
8) Digital Marketing
9) Multimedia & Animation
10) AI & ML
11) Full Stack Development & More.

After you get admission into BCA in any college:

1) Try to maintain a good academic performance.
2) Involve in co/extra-curricular activities.
3) Keep upgrading your skills, as recommended by your college faculties.
4) Start researching about the Recruiters/Companies visited your college for Campus Recruitment.
5) Have a Professional LinkedIn Profile.
6) Put Job Alerts related to your domain in LinkedIn.
7) Get notifications of job vacancies and go through the JD (Job Description) of each.
8) Know the Job Market Trends & keep analyzing how it changes till your 3rd year.
9) Connect with Professionals of your domain, get their advice/views/opinions for your Career Growth
10) At the end of your 3rd year, start applying for jobs through LinkedIn, matching your Profile and also prepare for your Campus Interview.

All the BEST for Your Bright Future.

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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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