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Sunil Lala |178 Answers |Ask -Follow

Financial Planner - Answered on Mar 31, 2023

Sunil Lala founded SL Wealth, a company that offers life and non-life insurance, mutual fund and asset allocation advice, in 2005. A certified financial planner, he has three decades of domain experience. His expertise includes designing goal-specific financial plans and creating investment awareness. He has been a registered member of the Financial Planning Standards Board since 2009.... more

Asked by Anonymous - Mar 07, 2023Hindi

Money

Dear Sunil Lala Sir, I am already 47 Years old with Housing Loan about 1 Crore and wanted to have some retirement plan in 10 years where i can get min 15K to 20K per month , please suggest any guaranteed income and ready to invest 1 Lakh per anum for 5 to 7 years.

Ans: Hello, For long term investing we use Mutual Funds as an asset rather than a guaranteed plan as guaranteed plans over a period of 10-15 years will yield 6-7% whereas a balanced Mutual fund portfolio can yield upto 10-14%. If you want 20K per month as your monthly income after 7 years you need to do an SIP of 30-35K per month for 7 years

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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Sunil Lala |178 Answers |Ask -Follow

Financial Planner - Answered on Oct 13, 2023

Question by Syed - Sep 22, 2023Hindi

Money

Hi Sunil. I am 49 & planning to retire at the age of 55yrs. Can you please guide me and help me get a monthly income of 1.25 lakh? how much I need to invest on a monthly basis.

Ans: You need a corpus of approx 2.5 crores to get 1.25 Lakh monthly. To create 2.5 crores you need to invest 1.41 crores today or SIP of 2.55 lakh in an equity fund

Ramalingam Kalirajan |1311 Answers |Ask -Follow

Mutual Funds, Financial Planning Expert - Answered on Apr 10, 2024

Asked by Anonymous - Dec 25, 2023Hindi

Money

Hi.. I am 41 yrs old and can park Rs 10 lacs in HDFC retirement savings fund and SBI Retirement Benefit fund for 10yrs. I would need monthly income after attaing the age 52yrs. Pl advise for the above.

Ans: For your retirement planning, allocating a portion of your funds to retirement savings funds is advisable. Look for funds with retirement-focused investment strategies and consider diversifying your investment across different funds to manage risk. Opt for growth options to maximize capital appreciation over the investment period. Regularly review your portfolio and consider shifting to more conservative options as you approach retirement age to ensure steady income. Consulting a financial advisor can provide personalized guidance tailored to your financial situation and retirement goals.

Ramalingam Kalirajan |1311 Answers |Ask -Follow

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

Question by Janardan - Dec 27, 2023Hindi

Money

Hi.. I am 41 yrs old and can park Rs 10 lacs in HDFC retirement savings fund and SBI Retirement Benefit fund for 10yrs. I would need monthly income after attaing the age 52yrs. Pl advise for the above or any other recommendation for the investment.

Ans: Given your age and requirement for monthly income post 52 years, investing ?10 lakhs in retirement-focused funds like HDFC and SBI Retirement Savings Funds for 10 years is a good start. Ensure to choose growth or dividend options based on your preference for reinvestment or regular income. Additionally, consider diversifying with debt funds or fixed deposits for stability and regular income. Consulting a financial planner can provide personalized advice tailored to your retirement goals.

Ramalingam Kalirajan |1311 Answers |Ask -Follow

Mutual Funds, Financial Planning Expert - Answered on Apr 30, 2024

Question by Janardan - Jan 25, 2024Hindi

Money

Hi.. I am 41 yrs old and can park Rs 10 lacs in HDFC retirement savings fund and SBI Retirement Benefit fund for 10yrs. I would need monthly income after attaing the age 52yrs. Pl advise for the above.

Ans: It's inspiring to see your proactive approach towards securing your financial future. Investing in retirement savings funds is a commendable step towards building a nest egg for your post-retirement years.

By allocating funds to HDFC Retirement Savings Fund and SBI Retirement Benefit Fund for a duration of 10 years, you're laying a strong foundation for your retirement income needs. These funds are designed to grow your investment over time while providing a steady income stream in your retirement years.

As a Certified Financial Planner, I appreciate your foresight in planning for monthly income after the age of 52. It's crucial to continue investing consistently and regularly review your investment strategy to ensure it aligns with your evolving financial goals.

Remember, retirement planning is a journey, and by taking proactive steps now, you're empowering yourself to enjoy a secure and fulfilling retirement in the future.

Latest Questions

Moneywize |103 Answers |Ask -Follow

Financial Planner - Answered on May 03, 2024

Asked by Anonymous - May 02, 2024Hindi

Money

I want to invest a corpus of Rs 7 lakh for my granddaughter's education. She is 7 now. I will need this money after 10-12 years. How shall I invest this money to get Rs 25 lakh by 2036. I am 60 now. I have already made provisions for my retirement corpus and am not worried about it. I want to fund my granddaughter's education. How shall I go about it?

Ans: Investing for your granddaughter's education is a thoughtful decision. Given your time horison of 10-12 years and your goal of accumulating Rs 25 lakh (Rs 2.5 million), you'll need to consider several factors such as risk tolerance, expected returns, and investment options. Here's a suggested approach:

• Determine Risk Tolerance: Since you have a long-term goal, you might be able to afford more risk in your investments. However, given that this money is earmarked for your granddaughter's education, you may want to strike a balance between risk and return.
• Asset Allocation: Consider a diversified portfolio comprising of equity, debt, and possibly some alternative investments. A mix of assets can help manage risk and potentially achieve higher returns.
• Equity Investments: Given your time horizon, equities can play a significant role in generating returns. You may consider investing a portion of your corpus (around 60-70%) in equity mutual funds or stocks. Since equities can be volatile in the short term, they tend to offer higher returns over the long term.
• Debt Investments: To provide stability to your portfolio, allocate a portion (around 30-40%) to debt instruments such as fixed deposits, debt mutual funds, or PPF (Public Provident Fund). These investments offer lower but more predictable returns compared to equities.
• Systematic Investment Plan (SIP): Consider investing in equity mutual funds through SIPs. SIPs allow you to invest small amounts regularly, averaging out the purchase cost and reducing the impact of market volatility.
• Review and Rebalance: Periodically review your portfolio to ensure it remains aligned with your goals and risk tolerance. Rebalance the portfolio if necessary by adjusting the asset allocation.
• Consider Tax Implications: Be mindful of the tax implications of your investments. Equity investments held for more than one year qualify for long-term capital gains tax, whereas debt investments may attract tax based on your income tax slab.
• Emergency Fund: Ensure you have an adequate emergency fund set aside separately from your granddaughter's education corpus to cover any unexpected expenses.
• Seek Professional Advice: If you're unsure about investing, consider consulting with a financial advisor who can help tailor an investment strategy based on your specific circumstances and goals.

By following these steps and staying disciplined with your investment strategy, you can work towards accumulating the desired amount for your granddaughter's education by 2036.

Ramalingam Kalirajan |1311 Answers |Ask -Follow

Mutual Funds, Financial Planning Expert - Answered on May 03, 2024

Question by RC - Jan 25, 2024Hindi

Money

Let us inform tax saving options available in new tax regime for FY 2023-24 in the Benefit of all ?

Ans: New Tax Regime Exemption List
Transport Allowances w.r.t. Person with Disabilities (PwD)
Conveyance Allowance
Travel/ Tour/ Transfer Compensation
Perquisites for Official Purposes
Exemptions for Voluntary Retirement Scheme u/ Section 10(10C)
Gratuity Amount u/ Section 10(10)
Leave Encashment u/ Section 10(10AA)
Interest on Home Loan on Lent-out Property u/ Section 24
Gifts of Up to Rs. 5,000
Employer’s Contributions to Employees NPS Accounts u/ Section 80CCD(2)
Additional Employee Costs u/ Section 80JJA
Standard Deductions on Family Pension u/ Section 57(IIA)
Deductions on Deposits in Agniveer Corpus Fund u/ Section 80CCH(2)

Ramalingam Kalirajan |1311 Answers |Ask -Follow

Mutual Funds, Financial Planning Expert - Answered on May 03, 2024

Question by Saddam - Jan 25, 2024Hindi

Money

100 crores , 10 years mai kaise kamaye.

Ans: Earning 100 crores in 10 years is an ambitious goal that would require careful planning, strategic investments, and potentially taking on significant risk. Here are some avenues you could consider:

Entrepreneurship: Starting and scaling a successful business can generate substantial wealth over time. Identify a lucrative market opportunity, develop a robust business plan, and execute it with determination and perseverance.
Stock Market: Investing in high-growth stocks or equity mutual funds with a long-term horizon can potentially yield significant returns. However, this approach comes with risks and requires thorough research and diversification.
Real Estate: Investing in real estate properties in rapidly growing markets or commercial ventures can offer substantial returns over a decade. However, this avenue requires substantial initial capital and entails risks associated with market fluctuations.
Alternative Investments: Explore opportunities in alternative asset classes such as private equity, venture capital, or cryptocurrency. These investments often carry higher risk but can yield substantial returns if successful.
Diversification: Consider diversifying your investments across multiple asset classes to spread risk and maximize potential returns.
Achieving such a lofty financial goal necessitates careful consideration of risk, market conditions, and personal circumstances. Consulting with financial experts or Certified Financial Planners can provide valuable insights and guidance tailored to your specific situation and goals.

Ramalingam Kalirajan |1311 Answers |Ask -Follow

Mutual Funds, Financial Planning Expert - Answered on May 03, 2024

Asked by Anonymous - Jan 25, 2024Hindi

Money

We oftenly go to invest in a mutual funds for higher return than conventional path. If higher return is our goal then why do most of the experts ask for time horizon to be invested?

Ans: Indeed, aiming for higher returns is a common aspiration when investing in mutual funds. However, the emphasis on time horizon by experts is not about stifling your pursuit of higher returns but rather about optimizing your investment strategy for success.

Consider this: Mutual funds typically invest in a diversified portfolio of assets such as stocks, bonds, or a combination of both. These assets can be subject to market fluctuations and volatility in the short term. By having a longer investment horizon, you allow your investments the opportunity to weather these ups and downs and potentially deliver higher returns over time.

Moreover, the time horizon aligns with your financial goals and risk tolerance. Short-term fluctuations may not be conducive to achieving your objectives if you need the funds in the near future. By defining a clear time horizon, you can tailor your investment strategy to match your goals and risk profile effectively.

In essence, while aiming for higher returns is essential, having a disciplined approach and a realistic time horizon can enhance the probability of success and help you stay on course towards achieving your financial aspirations.

Ramalingam Kalirajan |1311 Answers |Ask -Follow

Mutual Funds, Financial Planning Expert - Answered on May 03, 2024

Question by K - Jan 25, 2024Hindi

Money

I am 68year old Pensioner. Last month I sold my house property and earned around Rs50lacs. I w am planning to gift the entire amount to my son in order to get tax exemption. My son is planning to utilise the amount to repay part of his housing loan from HDFC, probably during September 2025 . Now (1)Does he has to pay IT for this amount as he will be spending only in laterhalf of 2025? (2) Instead, if I invest this amount in LTCG or NHAI funds, do I have to pay any tax for this total amount this year?

Ans: Your decision to gift the proceeds from selling your house to your son reflects a heartfelt gesture of support and love. As you navigate the tax implications, it's essential to consider the timing and nature of the transaction.

Regarding your first question, your son won't be liable to pay income tax on the gifted amount until he utilizes it, typically in September 2025. This postpones the tax liability until the funds are actually put to use.

Exploring alternative options, such as investing in Long Term Capital Gains (LTCG) or NHAI funds, could potentially offer tax benefits. However, it's crucial to assess the tax implications and investment suitability carefully. While these avenues may provide tax advantages, it's essential to evaluate their risk-return profile and alignment with your financial goals.

Consulting a Certified Financial Planner can provide clarity on the tax implications and help you make informed decisions aligned with your financial objectives. Remember, every financial choice carries its own set of considerations, and seeking professional guidance can illuminate the path towards wise financial stewardship.

Ramalingam Kalirajan |1311 Answers |Ask -Follow

Mutual Funds, Financial Planning Expert - Answered on May 03, 2024

Asked by Anonymous - Jan 25, 2024Hindi

Money

Dear, Myself ANANTHA KRISHNAN. Ive been regularly investing in SIP since 2014. How can I find out what is the current value of this(these) SIPs?

Ans: It's great to hear about your disciplined approach to investing through SIPs. To find out the current value of your SIP investments, you have a few options:

Fund House Website: Most mutual fund houses provide online portals where investors can log in and view their investment details, including current portfolio value. You can register on the website of the mutual fund houses where you have invested and access your account to check the current value of your SIPs.
CAMS/Karvy Website: CAMS (Computer Age Management Services) and Karvy are registrar and transfer agents for mutual funds in India. They offer online portals where investors can track their mutual fund investments across different fund houses. You can register on the CAMS or Karvy website and access your consolidated portfolio to check the current value of your SIPs.
Mutual Fund Apps: Many mutual fund houses have their mobile apps, which allow investors to track their investments on the go. You can download the mobile app of the mutual fund houses where you have invested and log in to check the current value of your SIPs.
Financial Advisor: If you have a financial advisor or a Certified Financial Planner, you can reach out to them for assistance. They can help you track the performance of your SIP investments and provide insights on your current portfolio value.
By leveraging these resources, you can easily find out the current value of your SIP investments and track their performance over time. It's essential to review your investments periodically to ensure they remain aligned with your financial goals and risk tolerance.

Ramalingam Kalirajan |1311 Answers |Ask -Follow

Mutual Funds, Financial Planning Expert - Answered on May 03, 2024

Asked by Anonymous - Jan 19, 2024Hindi

Money

I am planning to invest 50k/ month as Sip, for 20+ year investing horizon, Can u please suggest me funds in mf.. Goal: wealth creation

Ans: For long-term wealth creation through SIPs, it's essential to select mutual funds with a proven track record of delivering consistent returns and managing risk effectively. Here are some categories of mutual funds that you may consider:

Large Cap Equity Funds: These funds invest in large, well-established companies with stable growth prospects. They offer relatively lower risk and can provide steady returns over the long term.
Multi Cap Equity Funds: These funds have the flexibility to invest across companies of various market capitalizations, providing diversification and potential for higher returns.
Mid Cap and Small Cap Equity Funds: These funds focus on mid-sized and small-sized companies with high growth potential. While they carry higher risk, they also offer the possibility of generating substantial returns over the long term.
Equity Index Funds: These funds aim to replicate the performance of a specific stock market index, such as the Nifty 50 or Sensex. They offer low expense ratios and can be suitable for investors seeking market returns with minimal active management.
When selecting specific mutual funds within these categories, consider factors such as the fund's historical performance, expense ratio, fund manager's track record, and investment philosophy.

It's essential to diversify your SIP investments across multiple funds to spread risk and maximize potential returns. Additionally, regularly review your portfolio and make adjustments as needed to ensure it remains aligned with your financial goals and risk tolerance.

Before making any investment decisions, I recommend consulting with a Certified Financial Planner who can provide personalized advice tailored to your unique financial situation and goals.

Ramalingam Kalirajan |1311 Answers |Ask -Follow

Mutual Funds, Financial Planning Expert - Answered on May 03, 2024

Question by zia - Jan 13, 2024Hindi

Money

Dear Sir, I purchased a shop in October 2022 . I paid the required amount as declared in registeration papers ( stamp duty, registeration , sale deed etc. ) However, the builder addiotnally asked for Rs. 57,000/- towards GST to be paid in cash. At the time of registeration I paid only Rs. 50,000/- in cash. Thats why the builder didint issue any GST invoice. When I paid the balance Rs. 7,000/-, the builder issued a hand written letter certifying that Rs. 7,000/- only have been received towards GST ( and not Rs. 57,000/- which I actually paid). He didi not even mentioned his GST number in that letter. There is no GST invoice from any government deptt. My questions is, whether the builder can issue a hand written GST invoice without mentioning his GHST number ??. As far as I know, all GST amounts are are paid to the Givernment and not any any individual.

Ans: It's concerning that the builder issued a handwritten letter for GST payment without providing an official GST invoice or mentioning their GST number. According to GST regulations, all transactions involving GST must be accompanied by a valid GST invoice issued by the registered supplier, containing their GST number.

In this case, the absence of a proper GST invoice raises questions about the legitimacy of the transaction and whether the GST amount was appropriately accounted for and remitted to the government. Handwritten letters without proper documentation may not suffice as valid proof of GST payment.

To address this issue, I recommend seeking clarification from the builder regarding the absence of a formal GST invoice and their GST registration details. If the builder is registered under GST, they should be able to provide a proper GST invoice with their GST number for the amount paid. If they fail to do so or provide insufficient documentation, it may be prudent to consult with a legal advisor or tax expert to explore further steps to ensure compliance with GST regulations and protect your interests.

Ramalingam Kalirajan |1311 Answers |Ask -Follow

Mutual Funds, Financial Planning Expert - Answered on May 03, 2024

Asked by Anonymous - Jan 10, 2024Hindi

Money

Hi Sir, I am planning to buy crypto tokens in FY 2023-24. As per the tax law, I have to pay 1% TDS which will be debited by the crypto exchange. when I sell my crypto tokens in any of the subsequent financial years, I will have to pay 30% tax on the profit (plus surcharge). I wanted to know how will this 1 % surcharge be adjusted when I sell my cryptos in coming years? Or will I have to pay 1% this financial year and additional 30% taxes (plus surcharge) when I sell my cryptos. Kindly clarify the matter. I look forward to your response.

Ans: Your inquiry reflects a responsible approach to understanding the tax implications of investing in cryptocurrencies. The 1% TDS (Tax Deducted at Source) levied by the crypto exchange is an advance tax payment, akin to a prepayment of your tax liability on the profit from cryptocurrency transactions.

When you sell your crypto tokens in subsequent financial years, the 1% TDS already deducted will be adjusted against your final tax liability. Therefore, you won't have to pay the 1% TDS again when you sell your cryptos.

However, it's important to note that the profit from cryptocurrency transactions will be subject to a 30% tax (plus surcharge) when you sell them in the future. This tax will be calculated on the gains made from your crypto investments, after deducting any allowable expenses or losses.

To ensure compliance with tax regulations and maximize your tax efficiency, consider consulting with a tax advisor or a Certified Financial Planner. They can provide personalized guidance based on your financial circumstances and help you navigate the complexities of cryptocurrency taxation.

Ramalingam Kalirajan |1311 Answers |Ask -Follow

Mutual Funds, Financial Planning Expert - Answered on May 03, 2024

Asked by Anonymous - Mar 24, 2024Hindi

Money

I am 37 years old and i have started sip in 2 funds for retirement corpus. They are ICICI prudential value discovery fund and HDFC flexi cap fund. Am I on the right track? Are these funds good for creating a substantial corpus?

Ans: At 37, you're demonstrating admirable foresight by initiating SIPs for your retirement corpus. Both ICICI Prudential Value Discovery Fund and HDFC Flexi Cap Fund are reputable choices known for their potential to generate substantial returns over the long term. However, the suitability of these funds depends on various factors, including your risk tolerance, investment horizon, and financial goals.

Have you considered the diversification benefits of investing in different asset classes through these funds? It's wise to ensure that your investment portfolio is well-balanced to mitigate risks and optimize returns.

While these funds have a strong track record, it's essential to regularly review their performance and reassess their alignment with your objectives. Consulting a Certified Financial Planner can provide valuable insights and help fine-tune your investment strategy for optimal results.

Remember, the journey towards building a retirement corpus requires patience, discipline, and periodic adjustments. Stay committed to your goals, keep a watchful eye on market dynamics, and trust in the power of compounding to realize your financial aspirations.

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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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