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Samraat

Samraat Jadhav  |1852 Answers  |Ask -

Stock Market Expert - Answered on Feb 08, 2024

Samraat Jadhav is the founder of Prosperity Wealth Adviser.
He is a SEBI-registered investment and research analyst and has over 18 years of experience in managing high-end portfolios.
A management graduate from XLRI-Jamshedpur, Jadhav specialises in portfolio management, investment banking, financial planning, derivatives, equities and capital markets.... more
anand Question by anand on May 18, 2023Hindi
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i have irb infra @ 33 for long term share q is 4444 in sujjeshan

Ans: hold

Disclaimer: Investments in securities are subject to market RISKS. Read all the related documents carefully before investing. Please consult your appointed/paid financial adviser before taking any decision. The securities quoted are for illustration only and are not recommendatory. Registration granted by SEBI, membership of BASL and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.
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

Ramalingam Kalirajan  |4629 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on Jul 13, 2024

Asked by Anonymous - Jul 13, 2024Hindi
Money
Hello sir, I am 36 years old ,single working woman. My monthly oncomebis 2 lakhs 23 thousand. I have a home loan with 73K emi. I have about 6.5 in PPF and about 3 lakhs in PF. Currently I work directly with a Canadian company that puts me in a tax bracket of Consultants. I have NPS of 4 lakhs and annually invest in NPS, PPF and home loan. I want to create a savings of 10 lakhs in the next 3 years and pay off my home loan in the next 7 year. Please advise
Ans: Creating a financial plan that aligns with your goals is crucial. Your situation is unique, and your aspirations of saving Rs. 10 lakhs in the next three years and paying off your home loan in seven years are commendable. Let's outline a strategy to help you achieve these objectives.

Understanding Your Current Financial Situation
Income and Expenses

Your monthly income is Rs. 2.23 lakhs, with an EMI of Rs. 73,000 for your home loan. This leaves you with Rs. 1.5 lakhs to manage your other expenses, savings, and investments.

Existing Investments

You have Rs. 6.5 lakhs in PPF, Rs. 3 lakhs in PF, and Rs. 4 lakhs in NPS. These are stable and relatively low-risk investments.

Tax Considerations

As you work for a Canadian company, you fall into the consultant tax bracket, which may offer different tax advantages. Utilizing tax-saving investments efficiently can help reduce your tax burden.

Setting Clear Financial Goals
Savings Goal

You aim to save Rs. 10 lakhs in the next three years. This is achievable with disciplined planning.

Home Loan Repayment

Your goal to repay your home loan in the next seven years requires a structured approach. Accelerating loan repayment will save interest over time.

Creating a Structured Savings Plan
Monthly Savings Target

To save Rs. 10 lakhs in three years, you need to save about Rs. 27,777 per month. This should be manageable with your current income and expenses.

Emergency Fund

Before anything else, ensure you have an emergency fund. This fund should cover 6-9 months of expenses. It acts as a safety net against unexpected financial shocks.

Investment Strategies
PPF and PF Contributions

Continue your contributions to PPF and PF. These provide stability and tax benefits.

Mutual Funds

Consider investing in actively managed mutual funds. These funds are managed by professional fund managers who can adjust the portfolio to maximize returns.

Diversification

Diversify your investments across different asset classes. This reduces risk and can enhance returns. You might consider a mix of equity and debt funds.

Tax Efficiency
Tax-Saving Investments

Maximize your contributions to tax-saving instruments like PPF, NPS, and ELSS (Equity Linked Savings Scheme). These can reduce your taxable income.

Home Loan Interest Deduction

Utilize the tax benefits on home loan interest payments under Section 24(b). This can significantly reduce your taxable income.

Accelerating Home Loan Repayment
Prepayment Strategy

Consider making prepayments on your home loan when possible. Even small prepayments can reduce the principal and, consequently, the interest burden.

Increase EMI Amount

If possible, increase your EMI amount annually. This will help reduce the loan tenure and save on interest.

Regular Review and Adjustment
Annual Financial Review

Review your financial plan annually. Adjust your strategies based on changes in income, expenses, and goals.

Consult a Certified Financial Planner

A certified financial planner can provide personalized advice. They can help optimize your investment and savings strategies.

Smart Budgeting and Expense Management
Track Your Expenses

Use budgeting tools to track your monthly expenses. Identify areas where you can cut back and save more.

Prioritize Spending

Prioritize essential expenses and limit discretionary spending. This will help you save more towards your goals.

Leveraging NPS for Long-Term Goals
NPS Contributions

Continue contributing to your NPS. It’s a robust tool for long-term retirement planning.

Tax Benefits

NPS contributions offer additional tax benefits under Section 80CCD(1B), up to Rs. 50,000.

Maximizing Returns on Existing Investments
Regular Monitoring

Monitor your PPF and PF investments. Ensure they are aligned with your overall financial goals.

Rebalancing Portfolio

Periodically rebalance your investment portfolio. This ensures it remains aligned with your risk tolerance and financial goals.

Building a Contingency Plan
Insurance Coverage

Ensure you have adequate health and life insurance. This protects your financial plan against unforeseen events.

Creating a Will

Consider creating a will to ensure your assets are distributed according to your wishes. This provides peace of mind and security for your loved ones.

Final Insights
Your financial goals are achievable with careful planning and disciplined execution. By saving systematically, optimizing your investments, and efficiently managing your debt, you can create a secure financial future. Regular reviews and adjustments to your plan will ensure you stay on track towards achieving your aspirations.

Best Regards,

K. Ramalingam, MBA, CFP,

Chief Financial Planner,

www.holisticinvestment.in

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Nayagam P

Nayagam P P  |1884 Answers  |Ask -

Career Counsellor - Answered on Jul 13, 2024

Asked by Anonymous - Jul 13, 2024Hindi
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Nayagam P

Nayagam P P  |1884 Answers  |Ask -

Career Counsellor - Answered on Jul 13, 2024

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Career
Dear Sir, I have an offer from Manipal Udupi (main campus) in joining Mechanical (from 3rd round of counseling). I am not interested on Mechanical, and I do not have any other offers in hand. I am thinking of dropping this year and preparing of JEE next year. Please note, my JEE result was below 80% percentile and PCM at 80% this year. Is it advisable to drop a year or going with Mech in Manipal-U (I am hearing that there would be few more intra-campus counselling rounds which might change my position from mech to other streams like electrical or electronics.
Ans: Bibek, what are you are referring is sliding / upgrading to other streams. Please note this depends upon the demands by other students belonging to Mechanical for ECE/CSE/EEE etc. and also your academic performance in 1st year. I normally do not recommend 'drop'. Besides, keeping in view your score in Board/JEE, it is not advisable. Better to join Manipal-Main Campus for Mechanical & try for sliding.

Some suggestions before / after joining Manipal. (1) Have a thorough research about Manipal Main Campus about its culture, hostel facilities, internship opportunities, placement records, infrastructure, faculties, quality of teaching etc. to yourself get mentally prepared (2) Keep upgrading your skills (3) Create a Professional LinkedIn Profile and keep updating it every 3-months, using keywords related to your domain / skills (4) Put Job Alerts in LinkeIn to get notifications to know about Job Market Trends to keep yourself updated (5) Connect with Professionals of your domain (not to ask for jobs) to gain knowledge from them and their views. All the Best for Your Bright Future.

To Know More on 'Education | Careers | Jobs', Ask / Follows us in RediffGURUS.

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Aasif Ahmed Khan

Aasif Ahmed Khan   |64 Answers  |Ask -

Tech Career Expert - Answered on Jul 13, 2024

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Career
I had requested a company to provide internship plus project for my regular M.Tech course, instead i was offered internship plus job and contribution to pf was also there. In 3rd Sem we need to do internship which ended at Jan 2021, pf contribution started for month of October 2020. In 4th sem, no subject only project and i continued my job and project parallely This was during covid time, will this be a problem to work in IT gaint like TCS, If Yes, what best can i do ?
Ans: Having both an internship and a job during your M.Tech is commendable. It shows your commitment and multitasking abilities. The contribution to your provident fund (PF) is an added benefit. Remember, many successful professionals have navigated similar situations. Your dedication and adaptability will be valuable assets.

The pandemic accelerated the move toward hybrid workplaces, combining remote and in-person work. IT companies are increasingly open to flexible arrangements. Highlight your adaptability and remote work experience during interviews.

Update your resume and LinkedIn profile to reflect your internship, job, and project experience. Emphasize the skills you gained during your job and project. Showcase any relevant technologies or tools. Connect with professionals in your field. Attend virtual events and webinars. Prepare for technical interviews. Practice coding, algorithms, and system design. Understand TCS’s work culture, values, and projects. During interviews, explain your situation honestly. Highlight your achievements and how you managed both work and studies.

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Aasif Ahmed Khan

Aasif Ahmed Khan   |64 Answers  |Ask -

Tech Career Expert - Answered on Jul 13, 2024

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My son recently completed his Btech Mechanical at Thapar Institute but still waiting for placement.He got 8.5 cg till 7th sem and cg of 8th sem not declared yet and I hope he will not get less than previous cg. Please guide us about his placement. Can he placed of campus? or but about his study now.
Ans: Job searches can be challenging, but persistence pays off. Remind your son to stay positive, keep refining his approach, and learn from any setbacks. Remember that every student’s journey is unique, and there’s no one-size-fits-all solution. Encourage your son to explore both on-campus and off-campus options, and support him throughout the process. Your son’s strong CGPA can certainly attract recruiters during these placement drives.

If on-campus placements don’t yield immediate results, off-campus placements are an alternative. Off-campus placements involve applying directly to companies outside the college. Your son can explore job portals, company websites, and networking platforms to find relevant job openings. Tailor his resume, write personalized cover letters, and apply proactively.

While waiting for placements, your son can enhance his skills. Consider certifications, online courses, or projects related to mechanical engineering. Practical experience and domain-specific knowledge can make him more attractive to employers. Networking plays a crucial role in off-campus placements. Encourage your son to connect with alumni, industry professionals, and attend job fairs or industry events.

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Aasif Ahmed Khan

Aasif Ahmed Khan   |64 Answers  |Ask -

Tech Career Expert - Answered on Jul 13, 2024

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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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