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Can a 73-year old still start SIP in mutual funds?

Ramalingam

Ramalingam Kalirajan  |9227 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on Jul 27, 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
Asked by Anonymous - Jul 14, 2024Hindi
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I want to start sip in mutual funds am 73 yr old

Ans: At 73, it's essential to prioritize stability and safety in your investments.

Primary Goals: Ensure financial security, regular income, and wealth preservation.

Secondary Goals: Possibly leave a legacy for your loved ones.

Evaluating Current Financial Position
Before starting an SIP, evaluate your current financial status.

Income Sources: Identify your regular income sources like pension or fixed deposits.

Expenses: Calculate monthly and annual expenses.

Emergency Fund: Ensure you have 6-12 months of expenses in a safe, liquid fund.

Choosing the Right Mutual Funds
Given your age, risk tolerance is likely low to moderate.

Debt Funds: Focus on funds with low risk, providing regular income and capital safety.

Hybrid Funds: Consider balanced funds combining equity and debt, offering moderate growth with reduced risk.

SIP Benefits and Strategy
Systematic Investment Plans (SIPs) help in disciplined investing.

Consistency: Invest a fixed amount monthly, reducing market timing risk.

Compounding: Benefit from compounding over time.

Flexibility: Adjust SIP amount as needed.

Managing Risk and Diversification
Diversification reduces risk by spreading investments.

Multiple Funds: Invest in different types of mutual funds to balance risk and return.

Regular Review: Periodically review and adjust your portfolio based on performance and financial goals.

Consulting a Certified Financial Planner
Professional advice ensures your investment strategy aligns with your goals.

Customized Plan: A Certified Financial Planner (CFP) can tailor an investment plan for you.

Tax Efficiency: Ensure tax-efficient investment strategies to maximize returns.

Considerations for Legacy Planning
If you wish to leave an inheritance, consider the following:

Nomination: Ensure all investments have updated nominations.

Will and Estate Planning: Consult a legal advisor for creating a will and estate planning.

Final Insights
Starting an SIP at 73 is a prudent step towards financial stability and growth.

Prioritize Safety: Focus on low-risk, income-generating mutual funds.

Stay Informed: Regularly review and adjust your investments with professional guidance.

Plan Ahead: Consider legacy and estate planning to secure your financial future and that of your loved ones.

Best Regards,

K. Ramalingam, MBA, CFP,

Chief Financial Planner,

www.holisticinvestment.in
Asked on - Jul 27, 2024 | Answered on Jul 27, 2024
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Thank you very much sir for your support and advice
Ans: You're welcome! If you have any more questions or need further assistance, feel free to ask. Best wishes on your financial journey!

Best Regards,

K. Ramalingam, MBA, CFP,

Chief Financial Planner,

www.holisticinvestment.in
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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Hi All, My age is 34 years. I need to start with mutual funds SIP having moderate to high risk returns. Monthly SIP planning is 30000 for next 5 years. Can you please let me know how to invest ?
Ans: Yes, Investing in mutual funds through a SIP mode is a good way to start building wealth over the long term. Here's a step-by-step guide on how to invest in mutual funds SIP:

1. Identify Financial Goals: Before investing, determine your financial goals and the time horizon for each goal. This will help you choose the right mutual funds that align with your objectives.

2. Determine Risk Tolerance: Since you mentioned you are looking for moderate to high-risk returns, it's important to assess your risk tolerance. Higher-risk funds have the potential for higher returns but also come with increased volatility.

3. Selection of Mutual Funds: Based on your risk profile and financial goals, select mutual funds that match your investment criteria. The selection should be based on risk and reward factor of the particular mutual fund or you can consult with financial advisor if you feel unsure about making investment decisions.

4. Investment Platform: There are various platforms available on which you can start your investments after completion of KYC. You'll need to provide identity proof, address proof, and other relevant documents as per the guidelines of the platform. This is a one-time process and ensures regulatory compliance. Then, you can start your investments in the selected mutual funds.

5. Monitor and Review: Regularly review the performance of your mutual funds to ensure they are meeting your expectations. However, avoid making impulsive decisions based on short-term fluctuations in the market. Stay focused on your long-term investment objectives.

Remember, investing in mutual funds carries some degree of risk. It's important to understand the risks and potential returns associated with each fund before investing. Also, consider diversifying your investments across multiple funds to mitigate risk.

Disclaimer:
• I have just no idea about your age, future financial goals, your risk profile, other investments and whether you would have the nerves to not get unduly perturbed if stock markets go temporarily down.
• Hence, please note that I am answering your question in absolute isolation to other parameters which should definitely be considered when answering a question of this type.
• I recommend you to also consult a good financial advisor who would look at your complete profile in totality before you act on this advice given by me.

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Asked by Anonymous - Jun 25, 2025Hindi
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Sir the kcet verification slip has been released now. But I have received my re evaluated cbse board marks now and there is an increment of 10 marks in PCM. Can I update my marks now and get a new rank somehow? And what is the procedure for that?
Ans: Yes, you can update your KCET application with your new CBSE marks after re-evaluation. However, whether it impacts your rank depends on the Karnataka Examination Authority (KEA) rules and when your revised marks are released—especially in relation to the KCET counseling schedule.

Here's what you should do:
1. Check the KEA Website
Go to cetonline.karnataka.gov.in.

Look for any announcements or FAQs about:

Updating marks after re-evaluation.

Impact on KCET 2025 ranks and verification slip changes.

Check if they mention a process for submitting updated marks from other boards like CBSE.

2. Understand the Timeline
KCET Counseling Start Date:
If your updated CBSE marks come before KCET counseling begins, you’ll likely be allowed to update them.

CBSE Re-evaluation Timeline:
Re-evaluation takes time. Check CBSE’s website for expected timelines so you know when to expect your updated marks.

3. If Re-evaluation Results Come Before Counseling
Collect Documents:

Original CBSE mark sheet.

Revised mark sheet (after re-evaluation).

A copy of the re-evaluation confirmation (if available).

Contact KEA:

Use their official helpline or email (from their website).

Ask specifically how to update your marks in their system.

Follow KEA Instructions:

If allowed, KEA will give you exact steps—possibly uploading documents online or via a specific portal.

Rank Might Change:

If your updated marks are submitted in time, KEA may recalculate your rank using the new scores.

4. If Re-evaluation Results Come After Counseling
Spot Admissions or Special Rounds:

If regular counseling is over, you may not be able to change your application immediately.

However, you might be eligible for spot admissions or extra counseling rounds (if seats are still available).

Stay in Touch with KEA:

Contact them and ask whether your revised marks can still be considered in any remaining rounds.

5. General Tips
Don’t Assume Anything:
Always rely on official updates from KEA and CBSE. Don’t act on rumors or hearsay.

Keep All Records:
Save copies of your application, payment receipts, emails, and any mark sheets (old and revised).

Ask for Help if Needed:
If confused, talk to an education counselor or someone experienced with KCET admissions.

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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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