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Young man seeks advice on covering his mother's medical expenses

Milind Vadjikar | Answer |Ask -Follow

Insurance, Stocks, MF, PF Expert - Answered on Jan 23, 2025

Milind Vadjikar is an independent MF distributor registered with Association of Mutual Funds in India (AMFI) and a retirement financial planning advisor registered with Pension Fund Regulatory and Development Authority (PFRDA).
He has a mechanical engineering degree from Government Engineering College, Sambhajinagar, and an MBA in international business from the Symbiosis Institute of Business Management, Pune.
With over 16 years of experience in stock investments, and over six year experience in investment guidance and support, he believes that balanced asset allocation and goal-focused disciplined investing is the key to achieving investor goals.... more

Asked by Anonymous - Jan 23, 2025Hindi

Money

I am male,29, not yet married. Earn 80k, invest 28k in mf sip, 8k in emergency fund. Family pension 40k. My personal medical cover 3 lac and same amount cover from office. Term plan 50lac. In unforseen circumstances withdraw money from pension. We had medical benefit of cashless hospital treatment, but the same got withdrawn from long time now. Now we need to pay and claim reimbursement as per CGHS rate. My mother is 65. We don't have her medical cover as she has panel benefit but now it is not cashless. I want to cover for her hospitalisation. If I start medical cover now it is costing 1.5 lac to 1.8 lac for 50 lac cover. What should I do ?

Ans: Hello;

You may buy a base health insurance of 5 L for your Mother. (Should cost you ~20-25K/pa)

Then you may buy a super top up health cover for your Mom(~25 L).
It may cost you ~10-12 K/pa).

These are indicative costs for a person of 65 years of age with no disease, without GST. Actual costs may vary from company to company.

Do a thorough study of exclusions, room rent limit, other terms and conditions or consult an insurance advisor.

Also your term insurance is quite low(50 L) you should enhance it to 1 Cr now with the option to extend it to 2 Cr later when your responsibilities increase.

Best wishes;

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 |10874 Answers |Ask -Follow

Mutual Funds, Financial Planning Expert - Answered on Jul 25, 2024

Question by Visu - Jul 12, 2024Hindi

Money

I am single and retired with no family or loan commitments. with my enough funds in dividend funds for my routine monthly expenses, I have taken a Health Insurance for Rs.10 lacs with Royal Sundaram and life insurance term plan for Rs.50 lacs and Traditional insurance plan from LIC for Rs. 25 lacs on various named policies out of which except yearly premium of Rs.50,000 all policy payment terms were over. (policies like Jeevan Tarang, Jeevan Amrut etc) To cover this Rs.50000 insurance premium, I am getting survival benefit from Jeevan Tarang policy every year; only the date will differ which I could manage with my credit card payment. Can you please advise me whether the health insurance cover is okay and Life cover is okay; or should I take extra cover. Though I do not require to leave a legacy, I may also surrender the policy, in case of need. please advise

Ans: Financial Overview
Current Status

You are single and retired.

No family or loan commitments.

Insurance Policies

Health insurance: Rs. 10 lakhs with Royal Sundaram.

Life insurance term plan: Rs. 50 lakhs.

Traditional insurance plans from LIC: Rs. 25 lakhs.

Annual insurance premium: Rs. 50,000.

Appreciating Your Efforts
You have a well-structured plan.

Health and life insurance cover your needs.

Insurance Review
Health Insurance

Your health insurance cover is Rs. 10 lakhs.

Consider increasing it to Rs. 20 lakhs.

This ensures better protection against rising medical costs.

Life Insurance

Your life cover is Rs. 50 lakhs.

Since you have no family commitments, this is sufficient.

Traditional Insurance Plans
Jeevan Tarang and Jeevan Amrut

These plans provide survival benefits.

Use these benefits to pay your annual premium.

Surrender Option

Consider surrendering these policies if needed.

The surrender value can be reinvested in mutual funds.

Investment Strategy
Mutual Funds

Actively managed funds can offer higher returns.

Consider SIPs in large-cap and balanced funds.

PPF and NPS

Continue with PPF and NPS investments.

They offer safety and tax benefits.

Disadvantages of Index Funds
Lower Returns

Index funds mimic the market.

They often yield lower returns compared to actively managed funds.

Lack of Flexibility

Index funds have less flexibility.

Actively managed funds adapt to market conditions.

Disadvantages of Direct Funds
Lack of Guidance

Direct funds lack professional advice.

Regular funds provide support through MFDs with CFP credentials.

Higher Risk

Direct funds can be riskier.

Professional guidance helps mitigate risks.

Emergency Fund
Maintain Liquidity

Keep an emergency fund.

Ensure it's equivalent to 6-12 months of expenses.

Liquid Mutual Funds

Consider liquid mutual funds for this purpose.

They offer better returns than savings accounts.

Action Plan
Increase Health Cover

Increase your health insurance to Rs. 20 lakhs.

Review Traditional Policies

Consider surrendering LIC policies.

Reinvest the proceeds in mutual funds.

Continue SIPs

Increase SIP contributions.

Focus on large-cap and balanced funds.

Maintain Emergency Fund

Keep a sufficient emergency fund.

Use liquid mutual funds for better returns.

Final Insights
Your current insurance and investment strategy is commendable.

Consider increasing your health cover for better protection.

Reevaluate traditional policies and focus on mutual funds.

Maintain an emergency fund for financial stability.

Best Regards,

K. Ramalingam, MBA, CFP

Chief Financial Planner

www.holisticinvestment.in

Milind Vadjikar | Answer |Ask -Follow

Insurance, Stocks, MF, PF Expert - Answered on Oct 16, 2024

Question by Gouri - Oct 16, 2024Hindi

Money

My daughter is suffering from Ewings Sarcoma. Treatment is being carried out under Government Health scheme. We also had a Star Health mediclaim worth Rs 5 lakh on floater basis for a 4 member family includive of my daughter and son. After the discivery of disease i tried for a Top up but could not do it for 4 of us. Rather the 10 lakh top up was taken for 3 of us sans my daughter. The annual premium falls Rs 17000/- for Rs 5 lakh plan and 4000/- for top up for the Rs 10 lakh plan for a year. Since the health scheme is there should i continue any further with the Star Health policy. In Government health scheme the coverage is unlimited but cashless is Rs 2 lakh only. Kjndly guide Regards Gouri Sankar Bhattacharyya

Ans: Hello;

It is recommended to have separate health care insurance apart from that offered by the Govt health schemes.

If you are using old regime for income tax filing then you are eligible to claim deduction upto 25 K under Section 80 D.

Here's wishing your daughter a speedy recovery.

Best wishes!!

Ramalingam Kalirajan |10874 Answers |Ask -Follow

Mutual Funds, Financial Planning Expert - Answered on Aug 25, 2025

Question by Visu - Aug 25, 2025Hindi

Money

Iam 60 years and a loyal customer of Royal sundaram in medical insurance for 30 years. I was paying premium from 8k to now to 30 k with no claim. As a practical approach I have a discipline of making 50% of premium nearest to thousands ina value fund considering that my claim will not be admitted, and this corpus fund will be utilised for the shortcoming. Since there is no claim in the last 30 years it has now grown well. As we know that medical insurance will have 18% GST and not getting anything after 30 years of premium paid despite no claim except the NCB in paper. Considering my disciplined life style my anticipated medical expenses is 0 to 5 lacs in next 7 years which I can manage from medical corpus already available as 50% medical insurance paid. Now, considering the life expectancy, living after 7 years is not possible, and so deciding now to suspend the medical claim and continue invest the 100% plus my own 50% totalling 150% of insurance in the value fund for my medical emergency by not depending on medical insurance company, doubting claim admitted or not or going for legal for rightful claim etc. Moreover this corpus can also support my regual OPD or other medical expenses whereas mediclaim support only hospitalisation. So, with increasing medical insurance premium, I am planning to suspend medical insurance and dropping 30 years of relationship with royal sundaram. Please suggest and guide me, whether my decision to suspend medical insurance is correct? Or what best alternative should I do ?

Ans: You have shown great discipline and vision. Staying insured for 30 years with no claim is rare. Building a parallel medical corpus with 50% of premiums is also wise. Your thought process is practical, analytical, and responsible. I will analyse your plan from multiple angles and share clear guidance.

» Your disciplined approach till now
– You paid premiums regularly for three decades.
– You maintained loyalty with your insurer.
– You built a separate health fund alongside.
– This corpus now covers possible expenses for next 7 years.
– Your lifestyle control reduces medical risk.
– Such foresight is not common.

» Why many people continue insurance despite corpus
– Insurance is meant for unpredictable large events.
– Even a healthy person can face sudden high-cost illness.
– Sometimes medical bills cross Rs 15 to 20 lakh in a single year.
– These expenses can deplete a corpus in one stroke.
– Insurance gives financial shield against such shocks.
– It is like a seat belt – rarely used, but lifesaving when needed.

» Real cost of continuing medical insurance
– Premiums increase with age.
– GST adds 18% extra cost, which feels unfair.
– No-claim benefit looks good only on paper.
– You feel you are paying but not receiving.
– This frustration is genuine after 30 years.
– Yet insurance is not an investment.
– It is protection, like fire insurance for a house.
– Nobody wants fire, but protection is kept.

» Comparing insurance vs your self-funded plan
– Your 50% savings strategy created a good fund.
– By stopping insurance, you plan to invest 150% now.
– This fund can meet hospitalisation plus OPD needs.
– Insurance does not cover OPD, while your fund does.
– But insurance can pay for catastrophic expenses.
– Your fund may get exhausted if a rare but major illness comes.
– Recovery time for fund after big withdrawal may be slow.
– So balance is important rather than only one approach.

» Behaviour of medical costs in India
– Medical inflation is around 10-12% annually.
– Rs 5 lakh today may become Rs 10 lakh in 7 years.
– Hospitalisation cost for critical illness can cross Rs 20 lakh.
– Senior citizen cases are billed higher by hospitals.
– Cashless insurance helps avoid upfront cash burden.
– Without insurance, you may need liquidating investments at wrong time.

» Evaluating your current fund
– Corpus created from 50% savings is strong.
– It has given you confidence for next 7 years.
– You are comfortable that expected cost is within limit.
– However, actual medical cost is not predictable.
– Even if you expect low risk, medical events are random.
– Past 30 years claim-free does not guarantee next 7 years.
– Probability of claim rises after age 60.
– So assumption of zero or small cost may not always hold.

» Emotional factor in claims
– You mentioned doubt about claim approval.
– There are cases where companies delay or reject.
– But IRDA has tightened rules on senior citizens.
– If policy is active for more than 8 years, it is incontestable.
– Which means company cannot deny claim for non-disclosure.
– This protects loyal customers like you.
– So fear of rejection is lower today than before.

» Opportunity cost of premiums
– If you stop paying Rs 30,000 per year, you save cash flow.
– This saved amount can be invested in equity mutual funds.
– Over 7 years, this can grow and support corpus.
– Investment corpus has flexibility for OPD and medicines.
– Insurance premium, once paid, has no flexibility.
– This makes your argument valid from liquidity side.

» Taxation aspect of your corpus
– Equity mutual funds held for over 1 year attract LTCG.
– LTCG above Rs 1.25 lakh is taxed at 12.5%.
– Short-term gains are taxed at 20%.
– Debt funds are taxed as per your slab.
– Medical insurance premium however gives deduction under section 80D.
– This tax benefit will be lost if you stop insurance.
– But overall, your corpus is more flexible and useful for multiple needs.

» Behaviour of mutual fund corpus vs insurance
– Mutual fund corpus can grow with compounding.
– It can be withdrawn partially for OPD or hospitalisation.
– Insurance cannot be partially used. It only works during hospitalisation.
– Corpus remains with you or family even if not used.
– Insurance premium is lost if no claim happens.
– This makes corpus a more satisfying option.

» Your expected life span view
– You said you may not live beyond 7 years.
– This is only an assumption.
– Many healthy 60-year-old people live to 85 or 90.
– So planning with limited horizon may create gap.
– If you live longer, medical costs will keep rising.
– Your corpus must be designed for 20 years, not 7 years.

» Risk of stopping insurance completely
– If you stop now, restarting later will be costly.
– Premiums for senior citizens above 65 are very high.
– Pre-existing conditions will also be excluded for 3-4 years.
– So re-entry into insurance is difficult.
– Once stopped, door is almost closed permanently.
– Therefore, stopping completely is a high-risk decision.

» Balanced path forward
– Instead of full discontinuation, consider reducing sum insured.
– Take a smaller base cover to handle catastrophic illness.
– Use your medical corpus for OPD and small hospitalisation.
– This gives dual protection.
– You reduce annual premium burden but do not lose protection.
– You retain 80D tax benefit also.
– This approach balances peace of mind and flexibility.

» Alternative ideas for managing rising premium
– Opt for higher deductible plan to reduce premium.
– Shift to senior citizen specific plan with lower base.
– Keep top-up plan only, if available.
– These options lower annual outgo but retain protection.
– Your medical corpus can fill deductible portion.
– This way you use both insurance and self-fund together.

» Psychological comfort
– Insurance gives mental relief during crisis.
– Cashless admission removes stress for family members.
– Without insurance, they may run for funds at hospital.
– Your corpus is available, but encashment may take time.
– During critical illness, emotional burden is already high.
– Insurance at least takes away financial tension.

» Importance of asset allocation
– Your medical corpus must be invested carefully.
– Keep a part in safe liquid fund for emergencies.
– Keep another part in balanced equity mutual funds.
– Avoid direct equity, index funds, or ETFs.
– Index funds lack professional management in dynamic markets.
– Actively managed funds with experienced managers can beat index returns.
– This approach ensures better growth and safety.
– Use regular plan via Certified Financial Planner or MFD.
– They give guidance during market volatility.
– Direct funds look cheaper but miss ongoing advisory support.

» Final insights
– Your discipline and strategy is inspiring.
– Stopping insurance fully may expose you to big risk.
– Insurance is not investment but a protection tool.
– Use your medical corpus for regular and medium expenses.
– Keep a reduced insurance for catastrophic illness.
– This hybrid approach keeps costs under control.
– It also retains tax benefits and mental comfort.
– Fully depending only on corpus may be risky for long life.
– Consider that you may live 20 more years.
– Plan with safety cushion, not only for 7 years.
– Corpus with reduced insurance is a 360-degree solution.
– This balances flexibility, protection, growth and peace of mind.

Best Regards,

K. Ramalingam, MBA, CFP,

Chief Financial Planner,

www.holisticinvestment.in

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

Ramalingam Kalirajan |10874 Answers |Ask -Follow

Mutual Funds, Financial Planning Expert - Answered on Sep 23, 2025

Question by Kushal - Sep 23, 2025Hindi

Money

I got a chest pain 2-3 years back Due to which, I cannot get Health or Life insurance policy. Though I am fit and healthy. I do not take any medication. But on paper, due to an incident, I cannot get any Health or Life insurance for myself. However, I have a 3 lac Health Insurance from office and 50 lacs life insurance from office as well. My parents are covered under a health insurance of 8 lacs each. The 1.2 lacs that I transfer to my mother, she have 25k SIP in mutual funds, and the remaining is used for household expenses and some savings. I tried to build the emergency funds a couple of times, whenever I saved few lacs, I get back to FnO. I need to stop the FnO completely, but that's like addiction. I deleted all my trading accounts but created them again. Anyway, that's something I need to figure out, how can I not go back to FnO. Out of the remaining money I am left with, majority goes in household expenses mostly.

Ans: You already identified FnO as addiction. The only way forward is complete cutoff. Delete accounts permanently, block apps, and hand control to trusted person. Automate SIP immediately after salary credit so no spare cash tempts you. Keep emergency fund in joint account with mother to avoid misuse. Replace trading urge with hobby or physical activity. Consistency here is more important thn speed.

Please sign up for a counselling session with a Certified Financial Planner.

Best Regards,
K. Ramalingam, MBA, CFP,

Chief Financial Planner,

www.holisticinvestment.in

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

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Have read some of your answers and I am appalled as to how biased you seem. To most daughters in law you have suggested basically to shut up and best abuse for ‘family peace’ whereas when a man complains of his wife being close to her mother you go like ‘oh what a woman’. Looking at your profile one expects you would teach your clients assertiveness, self respect and fairness.

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Asked by Anonymous - Dec 08, 2025Hindi

Money

Hi i am 40M. would request your help to understand what should be the corpus required for retirement as i want to get retired in next 3-5yrs. currently my take home is 2.3L monthly & my wife also works but leaving the job in next 2-3 months. we have a daughter 10yrs, currently i stay on rent and total monthly expense is 1.1L month. once i will retire we will shift in our own parental flat, where hopefully there will be no rent. current Investments 1. 50L in REC bonds getting matured in 2029 2. 42L in stocks 3. 17L in MF 4. 16L FD 5. 15L in PPF 6. 1.3L SIP monthly i do My Wife Investments 1. 30L corpus 2. flat with current value 40L and we get rental of 10K monthly. Please guide what should be the retirement corpus required combined to retire, assuming i need 75L for my daughter post grad and marriage and we would be requiring 75K monthly for our expenses after retiring

Ans: You have explained your income, goals, current assets, and future plans with great clarity. Your early planning spirit is strong. This gives a very good base. You can reach a peaceful retirement with smart steps in the next few years.

» Your Current Position

You are 40 years old. You plan to retire in 3 to 5 years. You earn Rs 2.3 lakh per month. Your wife also works but will stop working soon. You have one daughter aged 10. Your current monthly cost is around Rs 1.1 lakh. This cost will reduce after retirement because you will shift to your parental flat.

Your investment base is already good. You have saved in bonds, stocks, mutual funds, PPF, FD, and SIP. Your wife also has her own savings and rental income from a flat. All these create a good starting point.

This early base helps you plan stronger. It also gives room for more shaping. You are on the right road.

» Your Family Goals

You need Rs 75 lakh for your daughter’s higher education and marriage.

You want Rs 75,000 per month for family living after retirement.

You want to retire in 3 to 5 years.

You will shift to your parental flat after retirement.

You will have rental income of Rs 10,000 from your wife’s flat.

These goals are clear. They give direction. They allow a strong plan.

» Your Present Investments

Your investments include:

Rs 50 lakh in REC bonds maturing in 2029.

Rs 42 lakh in stocks.

Rs 17 lakh in mutual funds.

Rs 16 lakh in fixed deposits.

Rs 15 lakh in PPF.

Rs 1.3 lakh as monthly SIP.

Your wife holds:

Rs 30 lakh corpus.

A flat worth Rs 40 lakh with rent of Rs 10,000 each month.

Your combined net worth is healthy. This gives good power to build your retirement fund in the coming years.

» Understanding Your Expense Need After Retirement

You expect Rs 75,000 per month after retirement. This includes all basic needs. You will not have rent. That reduces cost. This assumption looks fair today.

Your cost will rise with inflation. So you must plan for rising needs. A strong retirement corpus must support rising cost for 40 to 45 years because you are retiring early.

An early retirement needs a large buffer. So you need safety along with growth. Your plan must include growth assets and safety assets.

» How Much Monthly Income You Will Need Later

Rs 75,000 per month is Rs 9 lakh per year. In future years, this cost can rise. If we assume steady rise, your future cost will be much higher.

So the retirement corpus must be designed to:

Give monthly income.

Beat inflation.

Support you for 40 to 45 years.

Protect your family even in market down cycles.

Allow flexibility if your needs change.

A strong retirement fund must support both safety and long-term growth.

» How Much Corpus You Should Target

A safe target is a large and flexible corpus that can support long years without running out of money. For early retirement, the usual thumb rule suggests a very high number. This is because you need income for many decades.

You need a corpus big enough to produce rising income. You also need a cushion for unexpected health costs, lifestyle shocks, and inflation changes.

Your target retirement corpus should be in a strong range. For your needs of Rs 75,000 per month and for goals like daughter’s education and marriage, you should aim for a combined retirement readiness corpus in the higher bracket.

A safe range for your family would be a very large number crossing multiple crores. This large range gives you:

Income safety.

Inflation protection.

Peace during market cycles.

Comfort in long life.

Room for daughter’s future.

Strong backup for health.

You are already on the way due to your existing assets. You will reach close to this range with systematic building over the next 3 to 5 years.

» Why You Need This Larger Corpus

You will retire early. That means more years of living from your corpus. Your corpus must not fall early. It must grow even after retirement. It must give monthly income and long-term family protection.

This is only possible when the corpus is strong and well-structured. A weak corpus creates stress. A strong corpus creates freedom.

Also, your daughter’s future cost must be kept aside. This must be parked in a separate fund. This must not touch your retirement money.

A strong corpus makes these two worlds separate and safe.

» Your Existing Assets and Their Strength

You already have good diversification:

Bonds give safety.

Stocks give growth.

Mutual funds give managed growth.

FD gives stability.

PPF gives tax-free long-term savings.

This blend is already a good start. But you need to make the blend more structured for early retirement.

Your Rs 1.3 lakh monthly SIP is also strong. It builds your future fast. You should continue.

Your wife’s rental income is small but steady. This adds strength.

Your combined financial base can reach your retirement target if you refine your allocation now.

» Your Daughter’s Future Fund Need

You need Rs 75 lakh for your daughter’s education and marriage. You should keep this goal separate from your retirement goal.

Your current SIP and future allocations should create a dedicated fund for this goal. A long-term fund can grow well when managed actively.

Do not mix this fund with your retirement needs. Mixing leads to shortage in old age. Always keep this corpus ring-fenced.

» A Strong Asset Mix For Your Retirement Path

A balanced mix is needed. You need growth assets to beat inflation. You also need stable assets for income.

You must avoid index funds because they do not give flexibility. Index funds follow a fixed index. They cannot make active changes in different markets. They cannot move to better stocks when markets change. They force you to stay in weak sectors for long. They also do not help you in down cycles because they cannot protect you by shifting to safer options. This can hurt retirement planning.

Actively managed funds are better because:

They give active asset selection.

They give scope for better returns.

They give flexibility to change sectors.

They give downside management.

They give access to a skilled fund manager.

They support long-term planning more safely.

Direct plans also carry risk. Direct plans do not give guidance. They do not give behavioural support. They do not give market timing help. They do not give portfolio shaping. They leave all the judgement to you. One mistake can cost years of wealth.

Regular plans with guidance from a Certified Financial Planner help you shape decisions. They help you remain disciplined. They help you avoid panic. They help you decide allocation changes at the right time. This saves wealth in long-term.

» How Your Investment Journey Should Grow in the Next 3–5 Years

Continue your SIP.

Increase SIP when your income rises.

Shift part of your stock holding into planned long-term mutual funds to reduce concentration risk.

Build a defined daughter’s education fund.

Keep a part of your REC bond maturity amount for long-term.

Avoid locking too much into fixed deposits for long periods.

Build a safety fund for one year of expenses.

This will create a full structure.

» Your Rental Income Role

Your rental income of Rs 10,000 per month is small but steady. Over time it will rise. This income will support your monthly cash flow after retirement.

You can use this for utilities or health insurance premiums. This gives a cushion.

» Your Emergency Buffer

You should keep at least one year of essential cost in a safe place. This can be in a liquid account or short-term fund. This protects you in shocks.

Since you plan early retirement, a strong buffer is important. It gives peace even in low months.

» A Structured Retirement Approach

A complete retirement plan for you should include:

A clear monthly income plan after retirement.

A corpus that can grow and protect.

A rising income system that matches inflation.

A separate daughter’s future fund.

A health cover plan for your family.

A tax-efficient withdrawal plan.

A market cycle plan to protect you in tough times.

This holistic approach keeps your family strong for decades.

» What You Should Build by Retirement Year

Your aim should be to reach a strong multi-crore range in investments before retirement. You already hold a large amount. You will add more in the next 3 to 5 years through SIP, stock growth, bond maturity, and disciplined saving.

Once you reach your target range, you can start the shifting process:

Move a part to stable assets.

Keep a part in long-term growth assets.

Create a monthly income strategy.

Keep a reserve bucket.

Keep a child future bucket.

Keep a long-term growth bucket.

This structure protects you in all market conditions.

» Final Insights

Your financial journey is already strong. You have a good income. You have saved well. You have multiple asset types. You have a clear timeline. And you have clear goals. This foundation is solid.

In the next 3 to 5 years, your focus should be on growing your combined corpus to a strong multi-crore range, keeping a separate fund for your daughter, reducing risk in unplanned assets, and building a stable long-term structure.

With the present path and a disciplined structure, you can retire peacefully and support your family with confidence for many decades.

Best Regards,

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

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

Samraat Jadhav |2499 Answers |Ask -Follow

Stock Market Expert - Answered on Dec 08, 2025

Question by Debasis - Dec 06, 2025Hindi

Money

I sold at Rs 3500000.00 lakhs

Ramalingam Kalirajan |10874 Answers |Ask -Follow

Mutual Funds, Financial Planning Expert - Answered on Dec 08, 2025

Question by Saket - Dec 07, 2025Hindi

Money

Hello my name is saket, I monthly salary is 43k and my saving is zero. My Rent is 15 k and 10 k i send to my parents. How can i save money and investments.

Ans: 1. Your Current Monthly Numbers

Salary: Rs 43,000

Rent: Rs 15,000

Support to parents: Rs 10,000

Left with: Rs 18,000 for food, travel, bills, and savings

You have very little room, but saving is still possible if done smartly.

2. First Step: Build a Small Emergency Buffer

You must build Rs 10,000 to Rs 20,000 emergency money.
This protects you from taking loans for small issues.

How to build it:

Save Rs 3,000 to Rs 5,000 every month in a simple bank savings account

Do this for the next few months

Don’t touch it unless truly needed

3. Create a Mini Budget (Very Simple One)

Try this split from the remaining Rs 18,000:

Daily living (food + transport): Rs 10,000 – 11,000

Personal expenses (phone, internet, basics): Rs 3,000 – 4,000

Savings + investments: Rs 3,000 – 5,000

If this feels difficult, reduce food/transport costs by small adjustments.

4. Where to Invest Once You Have Emergency Money

(For minors: This is general education. For actual investing, get guidance from a trusted adult or family member.)

After you build emergency money, start small monthly investing.

You can begin with:

Rs 1,000 to Rs 2,000 SIP in a simple, diversified equity fund

Increase the SIP whenever salary increases or expenses reduce

Avoid complicated products.
Keep it simple.
Focus on consistency.

5. Easy Practical Ways to Increase Saving

These small moves help a lot:

Avoid food delivery

Use public transport as much as possible

Reduce subscriptions you don’t use

Fix a daily expense limit

Keep a separate bank account only for savings

Even Rs 200 saved daily = Rs 6,000 monthly.

6. Increase Income Slowly

Try small income boosters:

Weekend tutoring

Freelancing

Part-time projects

Selling old gadgets

Learning new skills for future salary growth

Even Rs 3,000 extra income changes your savings life.

7. Build the Habit First

The amount doesn’t matter in the beginning.
The habit matters more.

Even saving Rs 500 every month is better than zero.
Once salary grows, you will already know how to save.

Best Regards,

K. Ramalingam, MBA, CFP,

Chief Financial Planner,

www.holisticinvestment.in

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

Radheshyam Zanwar |6737 Answers |Ask -Follow

MHT-CET, IIT-JEE, NEET-UG Expert - Answered on Dec 08, 2025

Question by Dipasha - Dec 07, 2025Hindi

Career

Hello sir.. Mera class 12th main PCB tha but biology mai repeat aya hain aur english, physics, chemistry mai pass hu.. If mai biology NIOS se exam dungi toh kya mai NEET ke liye eligible ho jaungi?? Please answer

Ans: Your question and follow-up question are already answered. Please copy and paste the following link in your browser to read it - https://gurus.rediff.com/question/qdtl/career/neet-aspirant-meri-class-12-m-physics-m-repeat-thi/5248200

See more questions »

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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