Home > Money > Question
Need Expert Advice?Our Gurus Can Help
Ramalingam

Ramalingam Kalirajan  |7185 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on Apr 17, 2024

Ramalingam Kalirajan has over 23 years of experience in mutual funds and financial planning.
He has an MBA in finance from the University of Madras and is a certified financial planner.
He is the director and chief financial planner at Holistic Investment, a Chennai-based firm that offers financial planning and wealth management advice.... more
Gopalakrishnan Question by Gopalakrishnan on Apr 17, 2024Hindi
Listen
Money

Hi Mr. Ramalingam. I am 70 years old. So far no investments in Mutual Funds. All Investment in FD's. Now thinking of investing in SIP for about Rs. 25k per month. I have Family income of 1.50 lakhs from FD's monthly.Family expenses being looked after by my son. Please suggest SIP's n other Investment. Gopalakrishnan K

Ans: Considering your age and financial situation, it's commendable that you're looking to diversify your investments. For a conservative approach, you can allocate a portion of the 1.50 lakhs monthly income from FDs towards SIPs and other investment options.

SIPs: Start with balanced funds or debt-oriented hybrid funds that provide a mix of equity and debt exposure to manage risk. Allocate around 50% of the 25k SIP towards these funds.

Debt Funds: Invest the remaining 50% in short-term debt funds or corporate bond funds for stable returns and lower volatility.

Senior Citizen Savings Scheme (SCSS): Consider investing in SCSS, offering higher interest rates and tax benefits for individuals aged 60 and above.

Fixed Income Options: Explore Post Office Monthly Income Scheme (POMIS) or Pradhan Mantri Vaya Vandana Yojana (PMVVY) for regular income and safety.

Health Insurance: Ensure you have adequate health insurance coverage to manage medical expenses and safeguard your financial well-being.

It's essential to consult a Certified Financial Planner (CFP) to create a personalized investment plan tailored to your needs, risk tolerance, and financial goals. They can guide you on asset allocation, tax-efficient strategies, and retirement planning to secure your financial future.
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.
Money

You may like to see similar questions and answers below

Ramalingam

Ramalingam Kalirajan  |7185 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on May 12, 2024

Listen
Money
Ramalingam I am Murugesan I am 47 years old. Advise me to invest in SIP. Fund name and Amount please
Ans: Hello Murugesan, it's great to hear from you. Considering your age and investment horizon, investing in SIPs can be a wise choice to build wealth over the long term.

Given your age and the potential need for stability in your investment portfolio, you may want to consider a mix of equity and debt funds. Equity funds offer growth potential but come with higher volatility, while debt funds provide stability but typically offer lower returns.

For equity funds, you may consider large-cap or multi-cap funds, which invest in well-established companies with a track record of stable performance. These funds can provide growth potential while mitigating some of the risks associated with smaller companies.

For debt funds, you may look into short-term or medium-term debt funds, which invest in fixed-income securities like government bonds and corporate bonds. These funds offer stability and regular income, making them suitable for investors seeking capital preservation.

As for the amount to invest in SIPs, it's important to determine a comfortable amount based on your financial goals, income, and expenses. A general guideline is to aim for a savings rate of around 10-15% of your income, but this can vary depending on individual circumstances.

It's crucial to choose funds that align with your investment objectives and risk tolerance. I recommend consulting with a Certified Financial Planner who can assess your financial situation holistically and recommend a personalized investment strategy tailored to your needs.

Best Regards,

K. Ramalingam, MBA, CFP,

Chief Financial Planner,

www.holisticinvestment.in

..Read more

Latest Questions
Dr Dipankar

Dr Dipankar Dutta  |714 Answers  |Ask -

Tech Careers and Skill Development Expert - Answered on Dec 01, 2024

Shekhar

Shekhar Kumar  |154 Answers  |Ask -

Leadership, HR Expert - Answered on Dec 01, 2024

Asked by Anonymous - Sep 09, 2024Hindi
Listen
Career
Hi, Shekhar I have thirty years of expertise as an engineering sales specialist, and I'm in perfect shape. I was sent to the US headquarters of a US-based company after working in India and the Middle East. I've worked for this company for twenty years. Although my work at the head office is very minuscule in comparison to what I did in India and the Middle East, the management values my knowledge and expertise in the oil and gas industry. It appears that I have no prospect of growing. My subordinates have received promotions, while I have been disregarded for the past two years. My old aged parents and my entire family are in India. I requested to be sent back to India since there was no challenge for an individual. My mom's health is critical and I want to return for her. However, as you know, some friends and relatives say, I shouldn't make a decision in haste with emotions. At one side, I am appreciative of the support of my management when I was in India to look after my mother, I also feel that they should be little sensitive to my situation and allow me to return to my family without losing the job. If nothing works, I will have to return anyway and start a business. I don't have a blueprint for the business right now but I am inspired by the startups in India. I also have some unique ideas and with strong reputation among the customers in India & The Middle East, I can take some risk. What is your opinion, should I resign and return to India considering my family needs me here and there is no bigger reason that that?
Ans: Your situation is complex, and it’s admirable that you’re balancing your family’s needs with your career considerations. This is a pivotal decision that affects not only your professional life but also your emotional well-being. Your mother’s health and being there for your family during such a critical time are legitimate priorities. If you feel your presence in India is more important than continuing in a job where you lack challenges or growth opportunities, it’s natural to prioritize your family. While leaving a stable job is a big decision, your family’s needs and your personal fulfillment are crucial. I believe if your mother’s health requires immediate attention, being present for her and your family will bring emotional satisfaction that outweighs professional considerations and if your company cannot accommodate your request to return to India, resigning and focusing on starting a business could be a viable path. You have the expertise, reputation, and network to make it work. However, before making the leap, begin researching and outlining your business ideas now, even while still in your current role. This preparation will provide you with clarity and confidence should you decide to resign. Remember, this is a decision to make with careful thought, not haste. Focus on what aligns with your values and priorities to ensure you find peace and purpose in your choice.

...Read more

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.

Close  

You haven't logged in yet. To ask a question, Please Log in below
Login

A verification OTP will be sent to this
Mobile Number / Email

Enter OTP
A 6 digit code has been sent to

Resend OTP in120seconds

Dear User, You have not registered yet. Please register by filling the fields below to get expert answers from our Gurus
Sign up

By signing up, you agree to our
Terms & Conditions and Privacy Policy

Already have an account?

Enter OTP
A 6 digit code has been sent to Mobile

Resend OTP in120seconds

x