Dear Sir/Madam, Greetings, I am Nirav Joshi, 34 years old physiotherapist, residing in Abu dhabi, UAE for the last 8 years. I started my SIPs in 2017 which are as follows: 1) Axis Bluechip- 12500 per month 2) Mirae Asset Large and Midcap (previously known as Bluechip fund)- 14000 per month 3) Kotak Flexicap- 15000 per month 4) Nippon India small cap- 16000 per month All funds are direct mode, growth option. I have initiated SIPs with a lesser amount, increasing by some percentage every year. The current valuation stands around 30.8L with a 23% p.a. return. My goal is to achieve a portfolio of 5cr by 2035. I would like to request you to kindly review my portfolio. I have a few questions in my mind. 1) Axis bluechip consistently has underperformed when compared to peers and benchmark. What should I do with this? If I have to discontinue, should I sell all units in one go or should I start SWP or systematic transfers? Should I buy a new fund with this amount in one go or SIP would be a better option? Kindly advice. 2) Kotak Flexicap was underperforming. Should I switch to Kotak multicap with STP? please advise that too. And, please comment on overall portfolio health. Kind request for your expert opinion. Hoping to hear from you soon. Thanks with regards, Nirav Joshi

Ans: As you stand at the midpoint of your journey, it's natural to pause and ponder the fruits of your labor. Seven years ago, you embarked on a path of financial discipline, nurturing your wealth through systematic investments in mutual funds. With each passing month, you've diligently contributed to your SIP, nurturing your financial garden with care and foresight.

Magnitude of Investment:
Your commitment to growth shines through as you reflect on your journey. Starting with a SIP of Rs 50,000 per month and gradually increasing it to Rs 80,000 per month showcases your dedication to nurturing your financial future. Each increment, no matter how small, represents a step towards building a solid foundation for your later years.

The Power of Compound Interest:
As the years pass, the magic of compound interest works silently in the background, multiplying your investments manifold. With each SIP, you're not just investing money; you're investing in your dreams, your aspirations, and your future. The power of compounding rewards patience and consistency, amplifying the impact of your contributions over time.

Envisioning the Future:
As you cast your gaze towards the horizon, you can't help but wonder: what lies ahead? At age 50, where will your financial journey have led you? Will you find yourself basking in the glow of a well-nurtured nest egg, ready to embark on new adventures and pursue passions long deferred?

The Path Forward:
As a Certified Financial Planner, I invite you to envision your future with clarity and purpose. While I cannot predict the exact value of your investments at age 50 without specific calculations, I can offer guidance on how to nurture and safeguard your wealth as you continue along your journey.

Embracing Uncertainty:
Life is a tapestry woven with threads of uncertainty and possibility. While we cannot control every twist and turn along the way, we can arm ourselves with the tools and knowledge needed to navigate the unknown with confidence. As you journey towards age 50, remember that the true measure of wealth lies not just in monetary value but in the richness of experiences and the depth of relationships.

Conclusion:
As you stand at the crossroads of past and future, take a moment to appreciate how far you've come. Your journey is a testament to your resilience, your determination, and your unwavering commitment to financial well-being. As you continue along your path, may you find solace in the journey itself, knowing that every step forward brings you closer to the life you envision for yourself and your loved ones.

Ans: Navigating the complex landscape of finances, especially with looming expenses and future uncertainties, can feel like trying to solve a puzzle without all the pieces. It's a challenge many of us face, and it's understandable to seek guidance on charting a path towards financial security and peace of mind.

1. Current Financial Snapshot:
You and your husband are in your late 30s and early 40s, respectively, with a combined annual income of Rs 20,64,000. Here's a breakdown of your financial standing:

Income and Savings:
Annual savings of Rs 6 lakhs allocated towards various financial instruments such as mutual funds, insurance policies, and savings schemes.

Annual expenses totaling Rs 50,000 for essential insurances (medical, term, car) and Rs 6,00,000 for day-to-day living expenses.
Loan Obligations:

Existing loan of Rs 17,24,112, including interests, being paid annually up to Rs 4,31,000 until Feb'28.
Planning to purchase a new car next year, expected cost up to Rs 14-15 lakhs, which will likely require additional financing.

2. Planning for Retirement and Future Security:
With retirement on the horizon and the desire to secure your future, it's essential to map out a robust savings strategy:

Retirement Goals:
Discuss and define your retirement aspirations with your husband, envisioning your desired lifestyle and financial needs during retirement.

Savings Strategy:
Determine an ideal savings rate that balances current expenses with long-term goals, including retirement, your child's education, and potential healthcare costs.

Investment Mix:
Explore a diversified portfolio comprising mutual funds, insurance policies, and government-backed savings schemes, tailored to your risk tolerance and time horizon.

3. Addressing the Car Purchase:
The decision to replace your expiring car involves careful consideration, especially given your existing financial commitments:

Financial Implications:
Evaluate all options for financing the new car, considering potential down payments and minimizing loan burden to maintain financial flexibility.

Alternative Solutions:
Explore alternative transportation options or delaying the purchase until you've built more financial reserves to lessen the impact on your budget.

4. Building an Emergency Fund:
Establishing an emergency fund is crucial for weathering unexpected financial challenges:

Setting Savings Goals:
Determine specific savings goals for your emergency fund, considering factors like living expenses, loan obligations, and potential emergencies.

Automating Contributions:
Consider automating contributions to your emergency fund to make saving more manageable and ensure consistent progress towards your goal.

Conclusion:
While navigating the complexities of financial planning can be daunting, remember that you're not alone on this journey. By carefully managing your income, expenses, and savings, and seeking guidance from a Certified Financial Planner, you're taking proactive steps towards securing your future and achieving your long-term goals. Keep focusing on your priorities, stay adaptable to change, and trust in the process as you work towards financial freedom and peace of mind.

Ans: It sounds like you're juggling a lot, but you've got a solid foundation laid out. It's admirable how you're balancing your responsibilities towards your family's present needs and future goals. Let's address your concerns and aspirations one by one.

1. Car Purchase Consideration:
You're eyeing a new car, a shiny symbol of comfort and convenience. However, before diving in, let's assess if it aligns with your current financial trajectory:

Timing and Need:
Do you have an immediate need for the car, or is it more of a desire?
Can you postpone the purchase until you've accumulated a down payment or have more breathing room in your budget?
2. Reviewing Savings and Investments:
Your portfolio is diverse, spanning various assets from real estate to mutual funds. Let's evaluate if each piece is still working optimally for you:

Portfolio Alignment:
Are all your investments aligned with your long-term goals and risk tolerance?
Can you streamline or consolidate any holdings to reduce costs or enhance performance?
3. Exploring Additional Income Streams:
You're eager to bolster your financial stability by exploring secondary income sources. Let's brainstorm some viable options:

Leveraging Skills and Passions:
What skills or hobbies do you possess that could be monetized?
Are there freelancing opportunities or consulting gigs in your field of expertise?
4. Planning for Financial Freedom:
Your aspiration to achieve financial independence within a decade is ambitious yet attainable. Let's outline a roadmap to realize this vision:

Defining Financial Freedom:
What does financial freedom mean to you personally?
Is it early retirement, pursuing passion projects, or having more flexibility in your lifestyle?
Strategic Steps:
How can you increase your savings rate to accelerate progress towards your goals?
Are there opportunities to optimize investments or explore alternative income streams?
5. Optimizing Current Financial Plan:
Let's explore potential adjustments to your existing financial strategy to enhance its effectiveness:

Reallocating Resources:
Can you reallocate funds towards higher-performing investments or areas with greater potential?
Are there opportunities to automate savings or investment contributions for greater consistency?
Conclusion:
Your commitment to securing your family's financial future is commendable. By carefully considering each aspect of your financial situation, from major purchases to investment strategies, you're laying a strong foundation for long-term success. Remember, financial planning is a journey, and with patience, diligence, and the guidance of a Certified Financial Planner, you're well-positioned to achieve the freedom and security you desire.

Ans: Hello Philip,

First and foremost, thank you for getting in touch with us. I am happy to hear that your son has completed his MBBS degree and now wishes to practice in the USA. To answer your question first, I would like to tell you that a number of variables, including whether your son has completed the necessary licensing exams, viz., the United States Medical Licensing Examination (USMLE), and if he fulfills the prerequisites put forth by the relevant medical licensing authorities in the state where he wishes to practice, play a key role in deciding his eligibility to practice medicine in the USA with an MBBS degree from IUHS St. Kitts. Moreover, in order to meet the standards of medical practice in the USA, your son may be required to undergo further training or residency programs. For particular guidance and steps to pursue licensure in the USA, I would recommend that your son conducts a study on and gets in touch with the relevant authorities or licensing boards.

For more information, you can visit our website.

Ans: Dear Anonymous,
Commendable!
You have done all that you could for your family...now STOP...
It's time to live your life on your terms. Enjoy this phase as one when people are leaving you alone to find yourself, find what you love and what you wish to do. So, do just that!
Someday your family will come to their senses and integrate with you again. Till then, take time off for yourself without the responsibilities of anyone on you. Make the best of what IS...

All the best!

Ans: Dear Anonymous,
If your daughter came to you with the same situation, how would you advise her?
Would you not tell her your concern that she is actually choosing someone who may not be able to support her when she goes on maternity leave? Would you not tell her that coming from a broken family, she may have to take care of her boyfriend and possibly parent him on different occasions? Your parents are only concerned for you and are unable to tell you what they are worried about. Put yourself in their situation and tell me that you will not be worried.

At the same time, I do get your frustration. What you can do is to work on your parents' concerns and buy time till your boyfriend manages to settle down. And it seems like he is doing all that he can to be in their good books. And that's the only way you can get them to accept him. Wait patiently and don't put him under pressure. Instead be supportive and at the same time, you continue to work and be independent as well.

Never try to convince someone who does not want to be convinced but instead work on how they can accept him by addressing their concerns.

All the best!

Ans: Dear Shubham,
- Exercise for at least 40 mins at least 4 times a week
- Get a bit of sun exposure (avoid 11 am to 4 pm) every day
- Choose your social circle wisely
- Journal your thoughts or experiences of the day
- Make a playlist for peppy songs to play on a loop
- Watch content on OTT platforms that uplifts you
- Spend time in silence at least for 30 mins every day
- Spend time with pets (if you love that) and/or with Nature
- Indulge in what you love to do every day for at least 20 mins

All the best!

Ans: yes, but make it 5yrs.

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