53 and Ready to Retire: How Much Will I Need to Live Comfortably Until 85?

Ans: Here is, How to Predict Your Chances of Admission into NIT or IIIT or GFTI After JEE Main Results – A Step-by-Step Guide.

Providing precise admission chances for each student can be challenging. Some reputed educational websites offer ‘College Predictor’ tools where you can check possible college options based on your percentile, category, and preferences. However, for a more accurate understanding, here’s a simple yet effective 9-step method using JoSAA’s past-year opening and closing ranks. This approach gives you a fair estimate (though not 100% exact) of your admission chances based on the previous year’s data.

Step-by-Step Guide to Check Your Admission Chances Using JoSAA Data
Step 1: Collect Your Key Details
Before starting, note down the following details:

Your JEE Main percentile
Your category (General-Open, SC, ST, OBC-NCL, EWS, PwD categories)
Preferred institute types (NIT, IIIT, GFTI)
Preferred locations (or if you're open to any location in India)
List of at least 3 preferred academic programs (branches) as backups (instead of relying on just one option)
Step 2: Access JoSAA’s Official Opening & Closing Ranks
Go to Google and type: JoSAA Opening & Closing Ranks 2024
Click on the first search result (official JoSAA website).
You will land directly on JoSAA’s portal, where you can enter your details to check past-year cutoffs.
Step 3: Select the Round Number
JoSAA conducts five rounds of counseling.
For a safer estimate, choose Round 4, as most admissions are settled by this round.
Step 4: Choose the Institute Type
Select NIT, IIIT, or GFTI, depending on your preference.
If you are open to all types of institutes, check them one by one instead of selecting all at once.
Step 5: Select the Institute Name (Based on Location)
It is recommended to check institutes one by one, based on your preferred locations.
Avoid selecting ‘ALL’ at once, as it may create confusion.
Step 6: Select Your Preferred Academic Program (Branch)
Enter the branches you are interested in, one at a time, in your preferred order.
Step 7: Submit and Analyze Results
After selecting the relevant details, click the ‘SUBMIT’ button.
The system will display Opening & Closing Ranks of the selected institute and branch for different categories.
Step 8: Note Down the Opening & Closing Ranks
Maintain a notebook or diary to record the Opening & Closing Ranks for each institute and branch you are interested in.
This will serve as a quick reference during JoSAA counseling.
Step 9: Adjust Your Expectations on a Safer Side
Since Opening & Closing Ranks fluctuate slightly each year, always adjust the numbers for safety.
Example Calculation:
If the Opening & Closing Ranks for NIT Delhi | Mechanical Engineering | OPEN Category show 8622 & 26186 (for Home State), consider adjusting them to 8300 & 23000 (on a safer side).
If the Female Category rank is 34334 & 36212, adjust it to 31000 & 33000.
Follow this approach for Other State candidates and different categories.
Pro Tip: Adjust your expected rank slightly lower than the previous year's cutoffs for realistic expectations during JoSAA counseling.

Can This Method Be Used for JEE April & JEE Advanced?
Yes! You can repeat the same steps after your April JEE Main results to refine your admission possibilities.
You can also follow a similar process for JEE Advanced cutoffs when applying for IITs.

Want to Learn More About JoSAA Counseling?
If you want detailed insights on JoSAA counseling, engineering entrance exams, preparation strategies, and engineering career options, check out EduJob360’s 180+ YouTube videos on this topic!

Hope this guide helps! All the best for your admissions!

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Ans: Subbu Sir, Both Are Good. Prefer NIT-W-ECE. All the best for your Son's admissions!

Follow RediffGURUS to Know more on 'Careers | Health | Money | Relationships'.

Ans: Hi
Don't worry too much — you're definitely not alone. Many NEET applicants go through this kind of issue.
Here's what’s in your favor:
Your Aadhaar is verified – which means NTA has matched your details with your official ID. That's already a big validation point.
Your photograph contains your full name – this further supports your identity.
Your mistake is only about not writing the full name – it's a common confusion, especially when forms have the "Father's Name" right next to "Candidate's Name".

what can you do?
Carry extra documents on exam day:
Original Aadhaar Card (with full name)

A notarized affidavit stating that both names (short and full) refer to the same person. It can be done in 1–2 days at your local notary.
If possible, carry a school ID or 10th certificate with full name too.

Ans: Hi
if you could mention your category & home state, I can guide you well.

Ans: Hi
Cracking JEE 2026 requires a strategic and disciplined approach, especially if you're starting now.
Master Class 11 concepts thoroughly.?
Approach:
Conceptual Understanding: Prioritize understanding over rote learning.?
Practice: Solve a variety of problems to strengthen application skills.?
Resources: Utilize NCERT textbooks for basics and standard reference books for advanced problems.

Advanced Preparation (April 2025 – December 2025)
Focus: Cover Class 12 syllabus while revising Class 11 topics.

Regular Revision: Allocate weekly time slots for revisiting previous topics.?
Mock Tests: Begin with topic-wise tests, gradually moving to full-length papers.

Ans: Hi Ashish
You're currently in 2nd year MBBS at CCAT (likely a deemed/private college).
You’re feeling guilty—probably due to financial pressure (fees).
You’re seriously considering quitting MBBS to re-attempt NEET, maybe aiming for a government seat.
If your family is struggling or sacrificing a lot for this, it’s valid to feel this burden.

Be brutally honest with yourself and ask:
Did you prepare seriously the first time? Do you know what went wrong and how to fix it?

keep these things in mind:
You’ve already spent 2 years, and you will appear NEET again in 2026 and you’ll have to restart from 1st year again if you get MBBS in govt.
No guarantee you’ll get a better seat next year unless you’re very clear about your prep strategy.

Ans: That's a very thoughtful and practical question. You're trying to balance compliance with convenience. Let's assess this from legal, tax, and practical angles in simple terms.

Legal Requirement: Is Closing the Account Mandatory?
No law forces immediate closure of a deceased person's bank account.

But, legally, the account must not be operated after the date of death.

Any transaction post-death (withdrawals, transfers) is not valid, unless it's for paying dues like hospital or funeral expenses.

Banks usually freeze accounts after getting the death certificate.

Once frozen, the account should ideally be settled — not used for long.

Why Keeping It Open Quietly Can Be Risky
Continuing operation knowingly, even for FDs, may raise legal or tax issues.

Income earned post-death belongs to legal heirs, not to the deceased person.

If found, it can attract penalties or scrutiny from tax authorities.

If bank finds out, they may reverse interest, reject refunds, or file suspicious activity report.

Can FDs Be Continued Without Premature Closure?
Yes. Most banks allow FDs to continue till maturity in deceased’s name.

Interest is paid till maturity.

On maturity, the amount is paid to nominee or legal heir — without penalty.

But the linked savings account is frozen, so interest can't be transferred automatically.

You’ll need to submit a claim (with KYC and death documents) when FD matures.

What About Income Tax Filings?
A deceased person’s return can be filed by legal heir using their login.

Refunds are credited to the bank account declared in return.

If account is active at time of filing, refund may succeed.

But if bank freezes the account before refund, refund fails.

Better to update legal heir’s account for refund to avoid bounce.

Recommended Approach: Practical Yet Legal
Inform bank and submit death certificate early.

Allow FDs to run till maturity — no need to break unless urgent.

Ask bank to freeze only the savings account, not FDs.

On maturity, submit claim form for payout to nominee or legal heir.

File tax return in deceased’s name from legal heir’s account.

Mention your own bank account for tax refund if possible.

Tax Implication of Income After Death
Income up to date of death is taxed in deceased’s name.

Income after death (from FD, rent, etc.) is taxed in heir’s name.

Declare proportionate income carefully while filing returns.

Final Word
Keeping the bank account active “quietly” is not the right approach.

It may be hassle-free short-term but risky legally.

Inform the bank, let FDs continue, but follow proper claim and tax route.

Consult a CA for help with return and refund process as legal heir.

Best Regards,

K. Ramalingam, MBA, CFP,

Chief Financial Planner,

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

Ans: You are already on a thoughtful journey by planning ahead. Using Rs 39 lakh wisely is important. You are considering home loan, your father's debt, and also future investments. Your question deserves a deep, balanced analysis.

Let’s understand all angles. We’ll examine how to manage debt, build wealth, and secure your kids’ future. You’ll also get tax-efficient and low-risk suggestions.

A step-by-step 360-degree plan is shared below.

Your Present Financial Opportunities and Challenges
You are 38 years old with two young kids.

You just sold a house and received Rs 39 lakh.

You already hold a second house with a Rs 50 lakh home loan.

Your father has a loan of over Rs 1 crore at 14% interest.

You’ve already repaid 40% of that loan.

You want to invest this Rs 39 lakh wisely for long-term goals.

Step 1: Evaluate and Prioritise the Outstanding Liabilities
Let’s begin with debt because it affects your peace of mind.

Your Father’s Debt at 14%

This is a very high interest rate.

It eats into your family income each month.

You have already paid a good portion, which is responsible.

Reducing this loan now is the smartest first step.

Interest saving is higher than returns from any mutual fund or FD.

It gives emotional relief and stronger family bonding.

It avoids legal or health-related pressure on your father.

Paying off part of this loan with Rs 20–25 lakh makes great sense.

Your Own Home Loan at 8%–9% Interest

Home loan has lower interest than personal or business loan.

It also gives tax benefits under Section 80C and Section 24.

If EMI is affordable, there is no rush to prepay.

But if EMI feels heavy or if interest is fixed and high, consider partial repayment.

You can use Rs 10–12 lakh to reduce the EMI or loan tenure.

Remaining Amount After Debt Handling

After paying Rs 25 lakh to father’s loan and Rs 10–12 lakh to home loan, around Rs 2–4 lakh may remain.

This can be invested for your children or parked for short-term needs.

Step 2: Avoid Fixed Deposit Unless Meant for Emergency Fund
FD gives fixed returns but is fully taxable as per slab.

FD returns are usually less than inflation rate.

For 5–10 years wealth creation, FD is not suitable.

Use FD only for emergency fund or temporary parking.

Keep 6–9 months of expenses in FD or liquid fund.

Step 3: Stay Away from Direct Equity If Not Skilled
Direct equity means buying individual stocks.

It needs deep study, constant monitoring, and emotional control.

Market volatility can affect your decisions badly.

You already have big responsibilities; don’t add risk.

Mutual funds are safer, managed by professionals.

Step 4: Avoid Direct Funds, Prefer Regular Funds With CFP-Guided MFD
Direct mutual funds may look cheaper but need self-research.

You may select wrong funds or exit at wrong time.

Regular plans give access to expert support from a Certified Financial Planner.

CFP + MFD ensures you take the right path.

They help with asset allocation, rebalancing, and goal mapping.

Step 5: Stay Away from Index Funds and ETFs
Index funds copy market indices like Nifty or Sensex.

They don’t offer downside protection in market fall.

Index funds don’t adjust portfolio as per economic conditions.

They also lack sector rotation benefit.

ETFs have liquidity issues and don’t beat inflation effectively.

Actively managed funds give higher risk-adjusted returns.

You get dynamic allocation, human expertise, and focused sector picks.

Step 6: Invest in Actively Managed Mutual Funds
Invest Based on Time Horizon and Purpose

For Short-Term (1–3 Years)

Use ultra short duration debt funds.

Also park in low-risk hybrid conservative funds.

For Medium-Term (3–5 Years)

Use balanced advantage funds or multi-asset funds.

For Long-Term (5+ Years)

Invest in actively managed large & mid-cap and multi-cap funds.

Use SIP for monthly investment and part lump sum as STP (Systematic Transfer Plan).

Children’s Education (Future Goal)

Your kids are 3 and 5 years old.

Their higher education is at least 12–15 years away.

Long-term compounding through mutual funds is ideal.

Start one folio for each child, in your name with them as nominee.

You can also add a minor’s folio with you as guardian.

Use actively managed funds with 70–80% equity exposure.

Review every year and reduce risk as the goal comes near.

Step 7: Protect Your Family with Financial Safety Nets
Ensure Rs 1.5–2 crore term insurance for you.

This protects family if you are not around.

Also ensure health insurance for all members.

Avoid ULIPs, traditional insurance, or investment-cum-insurance policies.

If you already hold them, check surrender value and reinvest in mutual funds.

Step 8: Tax Planning and Legal Documentation
Sale of house creates capital gains tax.

If you owned for more than 2 years, it’s LTCG.

LTCG is taxed at 20% with indexation benefit.

If you reinvest in another house, you may get exemption under Section 54.

But since you already have a house, this may not be practical.

Calculate LTCG with help of CA and file returns carefully.

Keep all records of reinvestment or debt repayment.

For Mutual Fund Investment

Equity fund LTCG above Rs 1.25 lakh taxed at 12.5%.

STCG is taxed at 20%.

Debt fund returns taxed as per your income slab.

Plan withdrawals accordingly.

Step 9: Add a Will and Keep Documents in Place
Create a simple Will naming your spouse and children.

Add nominations in all mutual fund accounts.

Add joint holding with either or survivor option.

Keep mutual fund records updated and stored safely.

Step 10: Build a Monthly Investment Discipline
After repaying debts, invest balance in SIPs monthly.

As your income grows, increase SIP every year.

This is called “Step-up SIP” and builds strong corpus.

Use SIPs for long-term goals like child’s education or your retirement.

Finally
You are thinking ahead for your kids and family. That is admirable.

Begin with reducing 14% debt first.

Next, reduce own home loan partially.

Use balance for long-term mutual fund investments.

Avoid index funds, direct equity, and direct plans.

Invest only through CFP-backed regular mutual fund route.

Build a safety net with insurance and emergency fund.

Save smartly for your children’s future and your own retirement.

Review your portfolio every year with a Certified Financial Planner.

Best Regards,

K. Ramalingam, MBA, CFP,

Chief Financial Planner,

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

Ans: Selling non-income generating property is a smart move. Reinvesting in mutual funds, especially with a Systematic Withdrawal Plan (SWP), can help generate monthly income. Let’s assess this from a 360-degree perspective.

Below is a detailed view of:

Expected capital gains tax

Market timing for selling

Evaluation of mutual fund strategy

Risk insights of SWP

Alternative approaches within mutual funds

Complete tax planning around this sale

Family protection with proper documentation

Long-term portfolio structure

Final insights

Let’s begin.

Capital Gains Tax on Sale of Inherited Property
As you inherited the property, there is no tax at the time of inheritance.

However, you must pay tax when you sell the property.

This tax is called Long-Term Capital Gains (LTCG) tax.

LTCG applies since the property is held for more than 24 months.

The gain is calculated using indexed cost of acquisition.

Indexed cost is based on original cost to your parents or whoever gifted you.

Indexation adjusts the cost as per inflation.

Capital Gains = Sale Price – Indexed Cost – Transfer Expenses.

LTCG is taxed at 20% with indexation benefit.

You must add applicable surcharge and 4% cess also.

For Rs 2.4 crore market value, gain could be sizeable.

Please keep sale expenses and purchase documents ready.

Also keep property valuation as on April 1, 2001 (if inherited before that).

Set aside some amount for this tax payment after computing.

Use a chartered accountant to do the final capital gain working.

Delay in paying advance tax can lead to interest penalty under Sections 234B and 234C.

Current Market Conditions and Timing the Sale
Property markets are showing mixed trends across cities.

If your property is not yielding rent, selling now is fine.

Holding unused property leads to maintenance costs and legal risks.

Mutual funds offer better liquidity and diversification.

Proceeds can earn better returns than idle property.

Timing the real estate sale for peak price is difficult.

If you're already planning exit, acting now is better.

You may miss equity market opportunities if you delay mutual fund entry.

Is SWP Right at This Stage?
SWP (Systematic Withdrawal Plan) helps to get regular income.

You invest lump sum in mutual funds and withdraw fixed monthly.

For retired or semi-retired investors, SWP works well.

It avoids redeeming large amounts at once.

You also avoid interest income being taxed annually like in FDs.

SWP is tax efficient compared to interest from bonds or FDs.

Equity-oriented funds under SWP give better post-tax returns.

Please begin SWP only after 1 year holding to get long-term capital gain benefits.

Short-term capital gain is taxed at 20% which is higher.

Withdrawals within first year can reduce your overall returns.

So, invest first, wait for one year, then start SWP.

During this one year, you can use emergency fund or debt fund for expenses.

SWP should be based on actual need and not full return potential.

If you withdraw more than fund growth, capital will reduce.

Hence, plan SWP as part of a cash flow strategy, not just investment.

You can change or pause SWP anytime, giving you flexibility.

Disadvantages of Index Funds vs. Actively Managed Mutual Funds
Index funds follow market indices and do not try to beat returns.

They do not offer downside protection in falling markets.

In volatile markets, index funds just mirror market loss.

Index funds do not have human judgment to manage risk.

You miss sector rotation and dynamic allocation benefits.

Actively managed funds are handled by experienced fund managers.

They adjust portfolio as per market signals and economic trends.

Good fund managers have beaten index funds even after expenses.

They help in risk-adjusted wealth creation over time.

For SWP and long-term goals, actively managed funds are superior.

You must also avoid ETFs for same reasons.

ETFs track indexes and offer no active management.

ETFs also have liquidity issues during market stress.

Stay with high-quality, actively managed funds for your goals.

Direct Funds vs. Regular Funds via Certified Financial Planner
Direct funds may seem cheaper, but miss out on expert guidance.

Wrong fund selection or timing can cause poor results.

Without monitoring, direct funds may underperform for years.

You may not know when to exit or reallocate.

Regular plans through Certified Financial Planner (CFP) offer handholding.

CFP-backed Mutual Fund Distributors (MFDs) guide asset allocation.

They help in tax harvesting, rebalancing, and risk control.

Regular funds cost a bit more but give full support.

For SWP and retirement planning, mistakes can be costly.

Hence, take the help of CFP and MFD for regular fund selection.

It gives peace of mind and stable returns over years.

Tax Planning After Sale of Property
You can reduce LTCG tax using exemption under Section 54.

Section 54 allows tax exemption if you reinvest in residential property.

But you mentioned you do not want to invest in property again.

In that case, you may have to pay full LTCG tax.

You may use Capital Gains Account Scheme (CGAS) to temporarily hold money.

This allows time to plan the next steps without missing exemption window.

You must file capital gain in ITR with all details.

You can also do tax harvesting in mutual funds to reduce future tax.

SWP taxation is spread out and helps manage annual tax better.

Debt funds under SWP will be taxed as per your slab.

Equity funds under SWP are taxed 12.5% LTCG beyond Rs 1.25 lakh yearly.

Asset Allocation and Reinvestment Planning
Don’t put full Rs 2.4 crore in one type of fund.

Divide into debt, balanced advantage and equity-oriented hybrid funds.

Keep one year SWP requirement in low-risk debt funds.

Rest can go into high-quality equity-oriented funds.

Select actively managed multi-cap and flexi-cap funds.

Include balanced advantage funds to reduce volatility.

Avoid thematic or small-cap funds for this purpose.

Review portfolio yearly with your CFP.

Withdraw from well-performing funds only to protect core capital.

Estate Planning and Family Documentation
Update nominee details for all mutual fund investments.

Use joint holding with “either or survivor” mode.

Maintain separate folios for different goals and family members.

Keep a written instruction file for SWP and investments.

Share login credentials with a trusted family member.

Register for online mutual fund platforms with full control.

Consider writing a simple Will if not done already.

This ensures smooth transfer of investments to next generation.

Avoid joint property ownership in future to prevent legal issues.

Additional Risk Management Tips
Maintain Rs 10 lakh minimum in emergency debt fund.

Keep Rs 25–30 lakh health insurance for entire family.

Continue term insurance if you have dependents or loan.

For senior family members, ensure cash flow even without SWP.

Reinvest SWP surplus in debt funds to maintain capital base.

Avoid overdrawal from mutual fund to meet lifestyle expenses.

Finally
Selling unproductive property is a smart decision.

Use mutual funds to create monthly income and wealth.

SWP is suitable if used carefully with asset allocation.

Avoid index funds and direct funds.

Regular funds via CFP-guided MFDs give peace of mind.

Reinvest with discipline and review yearly.

Protect capital and grow returns tax-efficiently.

Keep your portfolio and paperwork well-organised.

Think of long-term family benefit, not just short-term return.

Best Regards,

K. Ramalingam, MBA, CFP,

Chief Financial Planner,

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