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Sunil Lala |181 Answers |Ask -Follow

Financial Planner - Answered on Jan 19, 2024

Sunil Lala founded SL Wealth, a company that offers life and non-life insurance, mutual fund and asset allocation advice, in 2005. A certified financial planner, he has three decades of domain experience. His expertise includes designing goal-specific financial plans and creating investment awareness. He has been a registered member of the Financial Planning Standards Board since 2009.... more

Asked by Anonymous - Sep 05, 2023Hindi

Money

Hemantji my Salary monthly is around 71000 per month, & the expenses are 16000 EMI , 8000 school fees, house expenses almost 25000. Having polices but of very small values. Request you to please suggest me that what to do so that i get handsome return on my retirement and tomorrow if my son goes for higher studies i have so much left out that i can lead an respectable life

Ans: What is your age

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 |2317 Answers |Ask -Follow

Mutual Funds, Financial Planning Expert - Answered on Apr 27, 2024

Asked by Anonymous - Feb 13, 2024Hindi

Money

Hello Sir, I am 46 Y old . Recently i lost my job and serching for Job . I have 3 Flats , 80 L , 80L, 1.5 Cr . I have loan of 2 nd flat 6 L and Vila Loan 1,18 Cr . I have savings 15 L Mutual Fund, 9 L FD. 10L Govenment bonds, 17.5 L PPF(Eife). 7.5 L PPF(Myself), 2.5L gold bond, 2.5 L shares. EPF 72 L . I require 40 L for my daugter education in 4 year Span starting from 2024-2028. I require 40 L for my son education 2028-2032. If i sell my two flats and do loan free the Vila , I left with 40 L . I see visiblity of 30 L for my son and daughter education and left with 1.2Cr as saving . For house hold my wife earn 52 K which is ok for us monthy usage. Please help me a programe so that i can full fill my retirement objection ( 50K) per month . I may get job or not but want to secure the future of children as wella s my retietment . Please suggest .

Ans: I understand your situation and your desire to secure your children's education and your retirement. Let's outline a plan to achieve your objectives:

Education Fund for Children:
You have visibility of 30 lakhs for your children's education, which is a good start. To bridge the gap, consider allocating a portion of your remaining savings towards an education fund. You can invest in diversified mutual funds or fixed income instruments based on your risk tolerance and investment horizon.
Additionally, explore scholarship opportunities and educational loans to reduce the financial burden.
Debt Management:
Selling two flats to become loan-free on the villa is a prudent move to reduce debt burden. It will also free up cash flow for other financial goals.
Consider refinancing or restructuring the villa loan to reduce interest payments and accelerate debt repayment.
Retirement Planning:
With 1.2 crores in savings, you can create a retirement corpus through systematic investments in a combination of equity and debt instruments.
Allocate a portion of your savings towards diversified equity mutual funds for long-term growth potential. Aim for a balanced portfolio to manage risk effectively.
Consider investing in debt instruments like PPF, government bonds, and fixed deposits for stability and regular income during retirement.
Maximize contributions to EPF or consider opening a Voluntary Provident Fund (VPF) account to enhance retirement savings.
Emergency Fund:
Maintain an adequate emergency fund equivalent to 6-12 months of living expenses to handle unforeseen circumstances without dipping into long-term investments.
Review and Adjust:
Regularly review your financial plan and make adjustments based on changes in income, expenses, and market conditions.
Stay disciplined with your savings and investment strategy to achieve your financial goals effectively.
It's important to remain optimistic about your job search while simultaneously focusing on securing your family's future. Consider seeking guidance from a certified financial planner to tailor a comprehensive financial plan aligned with your specific circumstances and objectives. With careful planning and disciplined execution, you can work towards a secure and prosperous future for yourself and your family.

Ramalingam Kalirajan |2317 Answers |Ask -Follow

Mutual Funds, Financial Planning Expert - Answered on May 08, 2024

Asked by Anonymous - Apr 21, 2024Hindi

Money

I am 42 years of age . I have one child of 3 years old. My wife is home maker. I have my own flat 2 bhk in Mumbai. My annual salary is around 30 lakhs . I have savings of 60 lakhs at present. I will work till 60 years of age . My monthly expenses at present is 50000 Rs normal expenses. What should I do so that I have atleast 8 crores at age of 65 with my son earning by that age. I also want to have second baby after 2 years. Please guide.

Ans: It's commendable that you're proactively planning for your financial future, especially considering your long-term goals and growing family responsibilities. Here's a tailored plan to help you achieve your objectives:
1. Emergency Fund: Ensure you have an emergency fund equivalent to at least 6-12 months' worth of living expenses, stored in a liquid and easily accessible account.
2. Investment Strategy:
• Start SIPs in mutual funds with a focus on equity funds for higher returns over the long term. Aim for a diversified portfolio across large-cap, mid-cap, and small-cap funds to mitigate risks.
• Allocate a portion of your savings towards debt instruments like PPF, EPF, or debt mutual funds for stability and regular income.
• Consider investing in tax-saving instruments like ELSS funds to optimize tax benefits while building your wealth.
• Review and adjust your investment portfolio regularly based on changing market conditions and personal financial goals.
3. Real Estate: Since you already own a 2 BHK flat in Mumbai, consider it as a valuable asset. Monitor the real estate market for opportunities to leverage this property for potential rental income or capital appreciation.
4. Education Planning: Plan for your children's education expenses by investing in education-specific funds or starting SIPs in mutual funds dedicated to their future needs.
5. Health Insurance: Ensure you have adequate health insurance coverage for your family to safeguard against unforeseen medical expenses.
6. Retirement Planning: With the goal of accumulating 8 crores by the age of 65, calculate the required monthly contributions based on your expected rate of return and investment horizon. Consider consulting a Certified Financial Planner to develop a personalized retirement plan that aligns with your objectives.
7. Review and Adjust: Regularly review your financial plan to track progress towards your goals and make necessary adjustments as your circumstances evolve. Stay disciplined in your savings and investment approach to maximize long-term wealth creation.
By following this comprehensive financial strategy and remaining committed to your goals, you can work towards building a secure financial future for yourself and your family.

Ramalingam Kalirajan |2317 Answers |Ask -Follow

Mutual Funds, Financial Planning Expert - Answered on May 14, 2024

Asked by Anonymous - May 04, 2024Hindi

Money

Hi sir I am 34 years with take home 75k. Present wife not working and we are having w year daughter and 2 months son. My tax regime is new My expenses as Home loan 11k. Car loan 10.5k. Other expenses 10k. Home expenses and maid 10k. Term insurance yearly 19k with 1 cr coverage. Please suggest me investment of 10-12k Daughter Son Kids higher education Retirement My planning ssy of 50k yearly and nps of 50k Please suggest.

Ans: It's wonderful to see your proactive approach to securing your family's financial future, especially with young children to care for. Let's explore how you can allocate your resources effectively to meet your various financial goals.

Prioritizing Your Investments
Given your income, expenses, and specific financial goals, here's a suggested investment strategy tailored to your needs:

1. Children's Education:
Investing in your children's education is crucial for their future success. Consider opening separate savings accounts or investment plans for your daughter and son. Allocate a portion of your monthly budget (around Rs. 2,000 to Rs. 2,500 each) towards these accounts to accumulate funds over time. Opt for investment options with moderate risk and potential for long-term growth, such as mutual funds or child education plans.

2. Retirement Planning:
It's never too early to start planning for your retirement. Allocate a portion of your monthly budget (around Rs. 3,000 to Rs. 4,000) towards retirement savings. Maximize contributions to your NPS account, taking advantage of the tax benefits offered under the new tax regime. Additionally, consider investing in equity mutual funds or voluntary provident fund (VPF) to supplement your retirement corpus further.

3. Term Insurance:
You've already taken a significant step by securing term insurance coverage of Rs. 1 crore. Ensure that your coverage amount is sufficient to meet your family's financial needs in case of any unfortunate event. Review your insurance needs periodically, especially as your family and financial responsibilities evolve.

4. Emergency Fund:
Building an emergency fund is essential to handle unexpected expenses or financial setbacks. Aim to set aside an amount equivalent to 3 to 6 months' worth of living expenses in a high-yield savings account or liquid mutual fund. Start with a small portion of your monthly budget (around Rs. 1,000 to Rs. 2,000) towards this fund and gradually increase it over time.

Monitoring and Adjusting Your Plan
Regularly review your financial plan to track progress towards your goals and make any necessary adjustments. As your income increases or expenses change, you may need to reallocate your resources accordingly. Consider consulting with a Certified Financial Planner to ensure that your investment strategy remains aligned with your long-term objectives.

Conclusion
By following this investment plan and staying disciplined in your approach, you can build a solid financial foundation for your family's future. Remember that consistency and patience are key to achieving your financial goals over time.

Best Regards,
K. Ramalingam, MBA, CFP,

Chief Financial Planner,

www.holisticinvestment.in

Ramalingam Kalirajan |2317 Answers |Ask -Follow

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

Question by AMIT - May 09, 2024Hindi

Money

Hi, I have 55k in hand salary and Im 27 currently. I have a car emi of 12500 a d other household and personal expenses of around 20k. I have 4 lakh in Mutual Funds, 5 lakh in shares and 4 lakh Cash in hand. In PF I have around 3 lakhs. What would be a good suggestion for my future? My expenses are sometimes more than my income as I'm the sole earner in family . For ex - I paid around 83k last month for my parents Health insurance. I'm right now able to manage my expenses somehow, but have to hinder my joys.

Ans: Your commitment to supporting your family while managing your finances responsibly is truly admirable. Let's explore strategic steps to secure your financial future and alleviate financial stress.

Understanding Your Current Financial Situation
Your detailed breakdown of income, expenses, and assets provides valuable insight into your financial landscape. It's commendable how you prioritize your family's well-being despite facing occasional financial challenges.

Analyzing Income and Expenses
Your monthly income of Rs. 55,000 covers essential expenses like car EMIs, household expenses, and personal expenses. However, occasional large expenses, such as health insurance premiums, can strain your budget.

Optimizing Assets and Investments
Your diversified investment portfolio comprising mutual funds, shares, cash reserves, and PF reflects a prudent approach to wealth management. Leveraging these assets strategically can help secure your financial future.

Future Planning Recommendations
Considering your circumstances, here are some tailored recommendations:

Emergency Fund: Building an emergency fund equivalent to 6-12 months of living expenses can provide a financial safety net during unexpected situations, reducing reliance on cash reserves.

Budgeting and Expense Management: Implementing a detailed budgeting strategy can help track expenses and identify areas where you can optimize spending, ensuring better financial stability.

Health Insurance Planning: While health insurance is essential, exploring options for more affordable premiums or seeking government schemes can help alleviate the burden of high healthcare costs.

Additional Income Sources: Exploring opportunities for additional income streams, such as freelance work or part-time employment, can supplement your primary income and ease financial strain.

Benefits of Professional Guidance
Consulting with a Certified Financial Planner can provide invaluable guidance in optimizing your financial resources, identifying growth opportunities, and creating a comprehensive financial plan tailored to your goals and circumstances.

Conclusion
By implementing prudent financial strategies, optimizing expenses, and seeking professional guidance, you can work towards securing your financial future while still providing for your family's needs. Remember, small steps taken today can lead to significant financial stability tomorrow.

Best Regards,

K. Ramalingam, MBA, CFP,

Chief Financial Planner,

www.holisticinvestment.in

Latest Questions

Ramalingam Kalirajan |2317 Answers |Ask -Follow

Mutual Funds, Financial Planning Expert - Answered on May 16, 2024

Asked by Anonymous - May 10, 2024Hindi

Money

I got a job in Dubai and salary is 3.3 Lacs per month. After EMIs and monthly expenses i have net savings of 1 Lac. As NRI Can you please suggest some SIP and how and how much should i diversify like MF, Bonds, Gold, ETFs, etc. Thank you.

Ans: Congratulations on your new job opportunity in Dubai! It's great to hear that you're planning ahead for your financial future as an NRI. Let's discuss some strategies to make the most of your net savings of 1 lac per month through systematic investment plans (SIPs) and diversification across various asset classes.

Understanding SIPs and Diversification
SIPs offer a disciplined approach to investing in mutual funds, allowing you to invest a fixed amount regularly. Diversification across different asset classes helps spread risk and maximize returns over the long term.

Mutual Funds: A Core Investment Option
Considering your monthly savings capacity, allocating a portion of your savings to mutual funds can be a prudent choice. Opt for a mix of equity and debt funds based on your risk tolerance and investment horizon.

Equity Mutual Funds for Long-Term Growth
Equity mutual funds have the potential to deliver higher returns over the long term but come with higher volatility. Invest in diversified equity funds or thematic funds aligned with your investment goals and risk appetite.

Debt Mutual Funds for Stability
Debt mutual funds provide stability and regular income by investing in fixed-income securities such as bonds and treasury bills. Allocate a portion of your portfolio to debt funds to balance out the risk from equity investments.

Gold as a Hedge Against Market Volatility
Including gold in your investment portfolio can act as a hedge against market volatility and inflation. Consider investing in gold mutual funds or gold exchange-traded funds (ETFs) to gain exposure to this precious metal.

International Funds for Geographic Diversification
As an NRI working in Dubai, you can benefit from geographic diversification by investing in international mutual funds. Look for funds that provide exposure to global markets and sectors outside of India.

Regular Review and Adjustment
Periodically review your investment portfolio to ensure it remains aligned with your financial goals and risk tolerance. Adjust your asset allocation as needed based on changing market conditions and life circumstances.

Seeking Professional Advice
Given the complexity of managing investments across different asset classes, consider consulting with a Certified Financial Planner (CFP) who has experience working with NRIs. A CFP can provide personalized advice tailored to your financial objectives and help you navigate the intricacies of international investing.

Conclusion
By diversifying your investments through SIPs across mutual funds, bonds, gold, and international funds, you can build a robust investment portfolio that aims to generate wealth over the long term while managing risk effectively. Remember to review your investments regularly and seek professional guidance when needed to make informed decisions.

Best Regards,

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

Ramalingam Kalirajan |2317 Answers |Ask -Follow

Mutual Funds, Financial Planning Expert - Answered on May 16, 2024

Question by Ankit - May 10, 2024Hindi

Money

HELLO SIR, I AM 37 YEARS OLD AND OWNS A PROPERTY OF WORTH 90 LAKHS RIGHT NOW BOUGHT 8 YEARS BACK FOR 60 LAKHS. MY EMI IS AROUND 43K PER MONTH FOR ANOTHER 20 YEARS. ME AND MY WIFE EARNS AROUND 110000 PER MONTH. MONTHLY EXPENSE IS AROUND 35K. I HAVE 1 KID. HAVE I DONE RIGHT INVESTMENT OR IS THERE ANY OTHER WAY AROUND.

Ans: It sounds like you've been diligently managing your finances and investing in property, which is a significant accomplishment. Let's take a closer look at your situation and explore potential strategies to optimize your financial position.

Assessing Your Current Investment: Property Ownership
Owning a property valued at 90 lakhs, which you purchased eight years ago for 60 lakhs, indicates a healthy appreciation in value over time. Property can be a valuable asset that offers potential long-term growth and stability.

Evaluating Financial Commitments: Mortgage and Monthly Expenses
With an EMI of 43k per month for another 20 years, it's essential to ensure that this obligation fits comfortably within your budget. Considering your combined monthly income of 1,10,000 and expenses of 35k, it seems like you're managing your finances responsibly.

Considering Future Financial Goals
As a family with one child, planning for the future is crucial. It's commendable that you're proactively assessing your investment decisions to ensure financial security and growth.

Exploring Alternative Investment Opportunities
While property investment can be lucrative, diversifying your portfolio with other assets may provide additional benefits. Consider exploring investment options such as mutual funds, stocks, or retirement accounts to supplement your existing holdings.

Consulting with a Certified Financial Planner
Given your financial goals and current assets, consulting with a Certified Financial Planner (CFP) can provide valuable insights and personalized recommendations. A CFP can help you assess your risk tolerance, identify investment opportunities, and create a comprehensive financial plan tailored to your needs.

Conclusion
Overall, your investment in property has proven to be a wise decision, considering the appreciation in value over time. However, exploring alternative investment avenues and seeking professional financial advice can further enhance your financial well-being and help you achieve your long-term goals.

Best Regards,

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

Ramalingam Kalirajan |2317 Answers |Ask -Follow

Mutual Funds, Financial Planning Expert - Answered on May 16, 2024

Asked by Anonymous - May 16, 2024Hindi

Money

Firstly, thanks for patiently answering everyone's questions ????. Can you please suggest a suggest a MF which i wznt to invest in for next 10 years for my kids higher education. I see lot of children related mutual funds but unable to decide on one. I am ok to take high risk since ny inv would be for more than ten years.

Ans: Investing for your child's education is a thoughtful decision that requires careful consideration. I appreciate your dedication to securing their future. Let's delve into selecting the right mutual fund for this purpose.

Understanding Your Investment Horizon and Risk Appetite
Investing for your child's education over a ten-year period is a commendable strategy. Since you're comfortable with high risk, you have the potential for higher returns over the long term.

Evaluating Mutual Fund Options
When considering mutual funds for your child's education, it's essential to focus on funds with a proven track record of long-term growth. Look for funds managed by experienced professionals with a history of delivering consistent returns.

Active vs. Passive Management: Making the Right Choice
While index funds offer low fees and broad market exposure, they may not outperform actively managed funds, especially during volatile market conditions. Actively managed funds, overseen by skilled fund managers, have the flexibility to adapt to market changes and potentially outperform the market indices.

Emphasizing the Benefits of Active Management
Actively managed funds offer the advantage of professional oversight, where fund managers actively research and select investments to maximize returns and mitigate risks. This approach can be particularly beneficial in volatile markets, helping to navigate uncertainties and capitalize on emerging opportunities.

Disadvantages of Direct Funds and the Benefits of Regular Funds through a Certified Financial Planner
Direct investing requires significant time and expertise to research, select, and monitor investments effectively. By working with a Certified Financial Planner (CFP), you gain access to professional guidance and personalized investment strategies tailored to your financial goals and risk tolerance. Through a Mutual Fund Distributor (MFD) with a CFP credential, you can benefit from ongoing support and portfolio reviews, ensuring your investments remain aligned with your objectives.

Making an Informed Decision
Consider mutual funds with a focus on sectors or themes aligned with your child's educational aspirations. Diversification is key to managing risk, so opt for funds with a well-balanced portfolio across various asset classes.

Conclusion
Investing in mutual funds for your child's higher education requires a thoughtful approach that considers your investment horizon, risk tolerance, and the expertise of fund managers. By leveraging the benefits of active management and seeking guidance from a Certified Financial Planner, you can make informed decisions that lay the foundation for your child's bright future.

Best Regards,

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

Samraat Jadhav |1746 Answers |Ask -Follow

Stock Market Expert - Answered on May 16, 2024

Question by Jitendra - May 16, 2024Hindi

Money

what should be equity exposure in investment?

Ans: 100 minus your age, so if you are 30 yrs old then 100-30=70, so 70% to equity

Shalini Singh |68 Answers |Ask -Follow

Dating Coach - Answered on May 16, 2024

Asked by Anonymous - May 15, 2024Hindi

Relationship

My girlfriend is ignoring me ...what should I do to get her attention back?

Ans: Few suggestions - Address the reason she is ignoring you for. Apologise if you have upset her and mean the apology. Give it time, allow her to calm down - wait for her to reach out.

Sushil Sukhwani |357 Answers |Ask -Follow

Study Abroad Expert - Answered on May 16, 2024

Asked by Anonymous - May 14, 2024Hindi

Career

I am looking for advice for my son who is now in 12th standard ( Commerce subjects with Applied maths ). I want to send him abroad for his further studies. Could you please advise the courses he can take, countries he can opt for and the approximate costs involved. He is an average student.

Ans: Hello. Thank you for contacting us. It is understandable that you are concerned about your son’s future early on. Since your son is in 12th grade with commerce subjects and applied mathematics, he can choose to pursue business admission or management, economics, accounting, finance, or economics in his bachelor’s. It would be good if you encouraged him to do some extracurricular activities in order to strengthen his university applications.

In terms of countries, the USA, UK, Canada, Australia, and Germany are some of the best countries to pursue an accounting program. Furthermore, the cost of studying in each country would vary. It is preferred that you let us know if there is any specific country in mind so that we may be able to guide you further.

For any further queries, please get in touch with us. We have a team of expert counsellors who can guide you through any concerns or questions you may have.

Patrick Dsouza |259 Answers |Ask -Follow

CAT, XAT, CMAT, CET Expert - Answered on May 16, 2024

Asked by Anonymous - May 03, 2024Hindi

Career

Hello sir , I have just secured 94% in MAT 2024 I am confused which college to choose for MBA in finance with good ROI

Ans: There are not many good colleges that take up MAT as an entrance test. But can try the following
Dalmia - Mumbai
SIES - Mumbai
Birla Institute
Amity Noida

Patrick Dsouza |259 Answers |Ask -Follow

CAT, XAT, CMAT, CET Expert - Answered on May 16, 2024

Question by Lingaraj - May 03, 2024Hindi

Career

I have over 14 years of work experience in one of the leading PSU Banks both in credit and operation. In academics i have done MBA and also completed CAIIB but don't have any technical degree. Wanted to shift my career in MNC Banks. So whether I need to do any technical/ professional course.And also suggest what are the opportunities available in various domains along with its requirements in these MNC Banks to build career.

Ans: I dont think you need to do any course unless you are looking at shifting to a different domain. Directly apply to MNC banks. Contact placement agencies and take their advice. There are placement agencies that cater to Banks who could help you get the desired role. Can also directly apply to different banks.

Patrick Dsouza |259 Answers |Ask -Follow

CAT, XAT, CMAT, CET Expert - Answered on May 16, 2024

Question by Anirudh - Apr 29, 2024Hindi

Career

Dear Sir, I am a 34-year-old individual with ten years of experience working in a public sector bank. I graduated with a Bachelor's degree in Science (B.Sc.) with Physics, Chemistry, and Mathematics (PCM) in 2011, achieving a Second Division. Currently, I earn a monthly income of one lakh rupees. I am contemplating whether pursuing an MBA could elevate my career to new heights or if it is more suited for technical students. Could an MBA potentially offer me another chance to reshape my life? Thank you for your guidance. Sincerely, Anirudh

Ans: Doing Executive MBA could definitely help you in your career. But considering that you are already earning 1 lakh per month, try doing MBA from only the top institutes. You would have to prepare for GMAT exam.

Patrick Dsouza |259 Answers |Ask -Follow

CAT, XAT, CMAT, CET Expert - Answered on May 16, 2024

Question by Adbitya - Apr 28, 2024Hindi

Career

Sir, i qm currently working at a PSU for the past 5-6 years. Although the remuneration nis okay for now. But the growth opportunities are limited. And also my work profile is different from my bachelors (CS degree). Is it too late to get into tech ? Is MBA going to help in the longer run ?

Ans: Its not late. you can look at either doing Executive MBA from some of the top colleges or doing some relevant course that would help your switch. Problem with switching to IT would be that you would have to start as a fresher.

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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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