My question is related to HRA. I am salaried employee with a private company and I had shown the HRA of amount approx 3.4 lacs in FY2024-25 and given owner PAN of my known in company. Now that 3.4 lacs is shown in the income my relative who is non-working and no income as being a home maker. Sir, my question is that is it mandatory for her to file the ITR or not? If she doesn't file an ITR is that ok? Please advise on this. Thanks in advance.

Ans: Hi,

Best scenario for you is to use 50% money to prepay your personal loan and invest 50% in mutual funds. Prepaying home loan is not recommended.
If you do not have any emergency fund, put 3 lakhs aside in liquid mutual funds as emergency fund. Use remaining 9 lakhs is 50-50 proportion to repay some personal loan and rest 50% to invest in mutual funds.

Let me know if you need more help.

Best Regards,
Reetika Sharma, Certified Financial Planner
https://www.instagram.com/cfpreetika/

Ans: Hi,

You are doing great by building assets other than real estate. You already have 60 lakhs in stocks and mutual funds. But repaying home loan using this amount is not suggested. Let me explain - average return in stocks and mutual funds is around 12-13% very easily. And your loan will be around 8-8.5%.
Hence repaying using this amount - not recommended.

However, if the loan is new (maybe around 3 years old, you can consider repaying approx 10-15 lakhs amount using your investments as repaying in initial years will reduce emi or loan term. But if loan is old, do not repay.
You can share details of your loan for me to calculate and guide you exactly.

Also, keep your FD as is. As you should have an emergency fund. Consider this your emergency fund.

Let me know if you need more help.

Best Regards,
Reetika Sharma, Certified Financial Planner
https://www.instagram.com/cfpreetika/

Ans: Hi Amal,

Yes it's completely safe. As a CFP, I work with Edelweiss as well and the funds work well. If you feel that an AMC is not genuine, you can work with a CFP who will be there to resolve your queries regarding everything that you want to know.

But yes, you can consider this AMC for your investments as it is genuine.

Let me know if you need more help.

Best Regards,
Reetika Sharma, Certified Financial Planner
https://www.instagram.com/cfpreetika/

Ans: Hi Basant,

No. You cannot take that money in advance from LIC Jeevan Anand.

Let me know if you need more help.

Best Regards,
Reetika Sharma, Certified Financial Planner
https://www.instagram.com/cfpreetika/

Ans: Hi,
Why are you asking about reappearing for an improvement exam? Is there a specific reason?

best regards

Ans: Hi Pulkit,

With recent changes in EPFO and your total service of more than 11.5 years, you cannot withdraw the full EPS amount as a lump sum now.
Your service period makes you eligible for a lifelong monthly pension after you turn 50.
But in the meantime, you can obtain an EPS Scheme Certificate to preserve your pension eligibility until you are old enough to claim the monthly payments.

Let me know if you need more help.

Best Regards,
Reetika Sharma, Certified Financial Planner
https://www.instagram.com/cfpreetika/

Ans: Hi,

As per my understanding, you want to lower your EMI's for app based loans on your payday.
Well this isn't possible for these apps. You can redirect all of them into a single personal loan from your bank or any NBFC into a single lower EMI.
And refrain from getting any loan from these apps in future as they have high processing fees and interest with Zero flexibility.

Let me know if you need more help.

Best Regards,
Reetika Sharma, Certified Financial Planner
https://www.instagram.com/cfpreetika/

Ans: You are 49, with a stable dual-income family, home loan cleared, and some investments in place. You feel stagnated in your job and want to start something of your own. It’s a natural and valid thought at this life stage — but the decision needs to be planned, not impulsive.

At present, your financial base is decent but not fully liquid. You still have about ?45 lakh in liabilities, upcoming education costs for your children, and limited cash reserves. Your wife’s job and rental income can sustain household expenses, but not much beyond that.

The wise move is to continue your job while you explore your business or investment idea part-time. Use the next 18–24 months to:

Clear pending loans, especially the office property.

Build a minimum ?20–25 lakh emergency corpus.

Fund your children’s education separately.

Test and refine your business idea alongside your job.

Before quitting, also discuss openly with your spouse whether she is comfortable with you stepping away from a steady income. Her emotional and financial comfort will determine how smooth your transition is.

In short:
Keep your job, continue your startup or investing interest part-time, strengthen your finances, and plan a structured exit once liabilities are cleared. Freedom feels best when it’s backed by security, not uncertainty.

Contingency buffer and health insurance details:
For detailed financial planning and portfolio reconstruction, please connect with a Qualified Personal Finance Professional (QPFP).

Disclaimer / Guidance:
The above analysis is generic in nature and based on limited data shared. For accurate projections — including inflation, tax implications, pension structure, and education cost escalation — it is strongly advised to consult a qualified QPFP/CFP or Mutual Fund Distributor (MFD). They can help prepare a comprehensive retirement and goal-based cash flow plan tailored to your unique situation.
Financial planning is not only about returns; it’s about ensuring peace of mind and aligning your money with life goals. A professional planner can help you design a safe, efficient, and realistic roadmap toward your ideal retirement.

Best regards,
Naveenn Kummar, BE, MBA, QPFP
Chief Financial Planner | AMFI Registered MFD
https://members.networkfp.com/member/naveenkumarreddy-vadula-chennai

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Check eligibility/entrance exams, curriculum depth, placements, and cost before deciding.