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Retired teacher, no old pension, how to earn more money?

Ramalingam

Ramalingam Kalirajan  |8102 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on Jul 26, 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 20, 2024Hindi
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Can you tell me how can I earn more money? I am a retired teacher but not getting old pension, so I ask

Ans: Thank you for sharing your situation. You are a retired teacher seeking ways to earn more money since you are not receiving an old pension.

Let's explore various options to help you increase your income and improve your financial situation.

Part-Time Work and Freelancing
Tutoring: Utilize your teaching experience. Offer private tutoring or online classes. This can be a steady source of income.

Freelancing: Leverage your skills. Write, edit, or provide consulting services. Websites like Upwork and Fiverr can help you find opportunities.

Leveraging Your Experience
Educational Consulting: Offer consulting services to schools or educational institutions. Your experience can be valuable in curriculum development or teacher training.

Workshops and Seminars: Conduct workshops or seminars. Focus on topics where you have expertise. Charge a fee for participation.

Investing Wisely
Mutual Funds: Invest in diversified mutual funds. They offer potential for higher returns compared to traditional savings accounts.

Fixed Deposits: Consider investing in fixed deposits for stable and guaranteed returns. Choose banks or post office schemes for safety.

Public Provident Fund (PPF): PPF offers tax benefits and decent returns. It’s a safe investment for long-term growth.

Rental Income
Property Rental: If you own property, consider renting it out. This provides a steady monthly income. Ensure the rental agreement is legally sound.

Paying Guests (PG): If you have extra space, offer it for paying guests. This can be a consistent income source.

Monetize Hobbies and Skills
Crafts and Arts: Sell handmade crafts or art. Platforms like Etsy can help you reach a wider audience.

Blogging or Vlogging: Share your knowledge and experiences. Blogging or vlogging can generate income through ads and sponsorships.

Consulting and Coaching
Life Coaching: With your experience, offer life coaching services. Help individuals with personal development and career guidance.

Academic Counseling: Guide students in choosing career paths and educational courses. Your experience can provide valuable insights.

Health and Wellness Programs
Yoga or Fitness Instructor: If you have knowledge in fitness, become a yoga or fitness instructor. Offer classes to individuals or groups.

Nutrition Advice: Provide nutrition and wellness advice. Help individuals maintain a healthy lifestyle.

Final Insights
Your rich experience as a teacher can be monetized in many ways. Explore opportunities in tutoring, consulting, and freelancing. Invest wisely to ensure steady returns. Additionally, consider rental income and monetizing your hobbies. These steps will help you achieve financial stability and increase your income.

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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Ramalingam

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Mutual Funds, Financial Planning Expert - Answered on Jul 18, 2024

Asked by Anonymous - Jul 01, 2024Hindi
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Hii I am earning 40k per month and 20k goes into rent and food. I want to earn more. How do I earn more
Ans: Increasing Your Income
Earning more can be achieved through multiple strategies. Here are some effective ways:

Skill Enhancement
Learn New Skills: Invest in acquiring new skills relevant to your field. This can lead to promotions or higher-paying jobs.
Online Courses: Many platforms offer affordable courses. These can improve your qualifications.
Side Hustles
Freelancing: Utilize your skills for freelance work. Websites like Upwork and Fiverr can connect you with clients.
Part-Time Jobs: Consider part-time jobs that fit your schedule. This can provide additional income.
Investments
Mutual Funds: Start a SIP with a small amount. Over time, this can grow significantly.
Stocks: Invest in the stock market. Research and start with small investments.
Fixed Deposits: Safe investment with moderate returns. Start small and increase gradually.
Budgeting and Saving
Track Expenses: Monitor your spending. Identify areas where you can save.
Emergency Fund: Build an emergency fund. This ensures financial stability.
Smart Shopping: Look for discounts and avoid unnecessary expenses.
Career Advancement
Networking: Connect with professionals in your industry. Networking can lead to job opportunities.
Certifications: Obtain certifications in your field. This can increase your market value.
Entrepreneurship
Start a Business: If you have a business idea, consider starting a small business. This can grow over time.
Online Business: E-commerce platforms allow you to sell products online. This can be a good source of income.
Passive Income
Rent Assets: If you have any assets, consider renting them. This could include property or even equipment.
Royalties: Create content like books, courses, or videos. Earn royalties from your creations.
Professional Guidance
Certified Financial Planner: Consult a financial planner for personalized advice. They can help you with investments and financial planning.
Final Insights
Increasing your income requires a mix of enhancing skills, smart investments, and exploring new opportunities. Focus on continuous learning and seize opportunities as they arise. Consulting with a certified financial planner can also provide valuable insights and help you achieve your financial goals.

Best Regards,

K. Ramalingam, MBA, CFP,

Chief Financial Planner,

www.holisticinvestment.in

..Read more

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Asked by Anonymous - Mar 15, 2025Hindi
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Hello sir, I am 50 age and investing in the below funds by sip mode: Nippon india large cap - 2000 pm Nippon india multi cap - 2000 pm Nippon india small cap - 2000 pm ICICI prudential flexi cap - 2000 pm MO midcap fund - 2000 pm Mahindra ML large & midcap - 2000 pm Uti nifty 50 index - 1500 pm ICICI Pru nifty next 50 index - 1500 pm Nippon IT index - 1500 pm ICICI bse sensex index - 1500 pm ICICI Pru multi asset allocation - 5000 pm DSP multi asset allocation - 1000 pm SBI retirement aggressive - 1000 pm HDFC balanced advantage - 2500 pm Can I continue the above for the next 10 years OR is there a need for any changes to be made. My current MF investment stands at 20 L Looking forward to you advise please.
Ans: You are investing in a diverse set of funds across multiple categories. It is important to check if your portfolio is well-balanced, tax-efficient, and aligned with your risk appetite.

Fund Overlap and Diversification
You have too many funds in the same category.

Multiple large-cap, multi-cap, and index funds create unnecessary duplication.

A smaller, well-chosen portfolio will improve returns and reduce complexity.

Index Funds in Your Portfolio
You are investing in four index funds.

Index funds lack downside protection in market crashes.

Actively managed funds have better potential to beat the market.

Consider reducing index fund exposure to improve returns.

Sector and Thematic Funds
You have a technology sector fund.

Sector funds can be high-risk, as they depend on one industry’s performance.

A diversified portfolio is better than relying on a single sector.

If held, sector funds should be less than 10% of the total portfolio.

Multi-Asset and Hybrid Funds
Multi-asset funds help in balancing risk with exposure to equity, debt, and gold.

You have three multi-asset funds, which may be too many.

It is better to consolidate and hold only one or two of the best-performing funds.

Retirement Fund and Balanced Advantage Fund
SBI Retirement Aggressive Fund is designed for long-term wealth creation.

HDFC Balanced Advantage Fund helps in managing market volatility.

These funds are suitable for investors above 50, as they lower risk.

Recommended Changes
Reduce fund duplication by keeping only one multi-asset fund.

Exit some index funds and switch to actively managed funds.

Limit sector funds to a small portion of your portfolio.

Continue investing in flexi-cap and balanced advantage funds for long-term stability.

Final Insights
Your portfolio has good diversification but can be simplified.

Reducing overlapping funds will improve returns and ease tracking.

Shifting from index funds to actively managed funds may provide better growth.

Holding for 10 years is a good strategy, but regular rebalancing is needed.

Best Regards,

K. Ramalingam, MBA, CFP

Chief Financial Planner

www.holisticinvestment.in
https://www.youtube.com/@HolisticInvestment

...Read more

Anu

Anu Krishna  |1549 Answers  |Ask -

Relationships Expert, Mind Coach - Answered on Mar 14, 2025

Asked by Anonymous - Mar 12, 2025Hindi
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Relationship
What are possibilities of getting maintenance for a working woman (with a kid) from husband . My husband has abandoned us since birth of my daughter 4years. Not taking the child's responsibility. Husband says as I am earning I should take care of financial requirement of the child too. I am doing extra duties/ work just to take care of my daughter's education and future. As I am a healthcare professional my work consists of night duties. These duties are taking toll on my health and also my daughter's . People are saying as I am a working woman I can't claim maintenance from husband. But taking care of young child is more difficult with working. I just can't leave my job , just to show nil income to claim maintenance as no one is there to support me and my daughter. Hiring a nanny , maid etc along with rent comes around 85k per month apart from school expenses. As I live in metropolitan city. Husband earns more than me but transfers money to his mother's account.He has taken me granted financially since marriage.Not able to save anything for the future. Don't have any property on my name .
Ans: Dear Anonymous,
This is a question for a legal expert; so go ahead and seek the guidance of someone who can handle your case. Along with this, you will have to think of a good balance that will allow for you to manage work and home plus your health.

All the best!
Anu Krishna
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Drop in: www.unfear.io
Reach me: Facebook: anukrish07/ AND LinkedIn: anukrishna-joyofserving/

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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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