Home > Money > Question
Need Expert Advice?Our Gurus Can Help

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

Ramalingam

Ramalingam Kalirajan  |8103 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
Listen
Money

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.
Money

You may like to see similar questions and answers below

Ramalingam

Ramalingam Kalirajan  |8103 Answers  |Ask -

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

Asked by Anonymous - Jul 01, 2024Hindi
Listen
Money
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

Latest Questions
Ramalingam

Ramalingam Kalirajan  |8103 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on Mar 15, 2025

Asked by Anonymous - Mar 15, 2025Hindi
Listen
Money
I AM THINKING OF TAKING A LOAN OF 5,00,000 AGAINST MY CURRENT MUTUAL FUND MOTILAL OSWAL SMALL CAP FUND AND REINVEST IT IN SAME FUND FOR NEXT 3 YEARS. I DON'T WANT LIQUIDITY FOR NEXT 3-4 YEARS. SEEING THE MARKET IS LOW RIGHT NOW CAN I EXPECT A REURN? SHOULD I CONSIDER THIS OPTION?
Ans: Taking a loan against your mutual funds and reinvesting in the same fund may seem like an opportunity to maximise gains. However, this strategy carries significant risks.

Key Risks to Consider
1. Market Uncertainty
Small-cap funds are highly volatile.
A temporary market correction doesn’t guarantee strong returns in the next 3 years.
If the fund underperforms, you could face both a loan repayment burden and lower returns.
2. Interest Cost vs. Expected Returns
Loan interest rates on mutual fund pledges typically range from 9-12% per annum.
Your small-cap fund must generate higher returns than the loan rate to make this strategy profitable.
If the fund returns below 12% CAGR, your effective gains will be negligible or negative.
3. Forced Liquidation Risk
If the market corrects further, your lender may sell your pledged mutual fund units to recover the loan.
This could happen at a loss, forcing you to exit at a lower NAV.
4. Overexposure to a Single Fund
Investing additional money into the same small-cap fund increases concentration risk.
Instead, diversification across flexi-cap, mid-cap, and small-cap funds is better.
Alternative Approaches
Instead of taking a loan, consider:

SIP Investment Strategy

Continue SIPs in a staggered manner rather than a lump-sum reinvestment.
This reduces the risk of investing at an unfavourable price.
Diversified Portfolio Allocation

If markets recover, large-caps and flexi-caps may rebound earlier than small-caps.
Diversifying into these categories will balance returns and risk.
Rebalancing Your Current Portfolio

If you have underperforming funds, consider shifting money to stronger funds.
This avoids borrowing costs and interest rate risks.
Final Insights
Taking a loan against your mutual fund for reinvestment is not advisable due to the high risk of market downturns, interest costs, and forced liquidation. Instead, a disciplined SIP approach in diversified funds will offer better risk-adjusted returns.

Best Regards,

K. Ramalingam, MBA, CFP,

Chief Financial Planner,

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

...Read more

Dr Dipankar

Dr Dipankar Dutta  |963 Answers  |Ask -

Tech Careers and Skill Development Expert - Answered on Mar 15, 2025

Asked by Anonymous - Mar 15, 2025Hindi
Listen
Career
Greetings to Gurus, I am student from Kolkata,West Bengal. I have completed my ISC in year 2020 from Commerce stream without maths. I am from Lower Middle Class Family, finance is big issue for me. After ISC I enrolled in B.COM(Hons) course from a college under Calcutta University. I was ambitious of being Chef from childhood. But during Covid times and finance problem, I haven't pursued. During my college life, My first three semesters completed online in Covid period, after the lockdown period, my fourth semester got offline and I just passed in one paper out of 4 and then my 5th semester exam got cleared after that I appeared for rest 3 papers of sem 4 and cleared 2 papers and in sixth semester cleared 3 paper out of 4. Again in 2024, I appeared for 6th sem 1 backlog paper and cleared it but don't able to clear 4th sem one backlog paper. So, I have started my UG in year 2020 but not able to clear it till 2024 because of 1 paper(Taxation) and I have last option to reappear in 2025 examination. I want to earn good in my life, suggest me some opportunities and a way to get out from this loop. Mentally getting depress also.
Ans: Hello! First of all, I really appreciate that you're sharing your situation openly. I understand that you're going through a tough time, but I want to assure you that there are always ways to move forward. You are not stuck, and there are opportunities for you to earn well and build a good career.
Step 1: Clear Your B.Com Degree (Important)
You have only one backlog paper (Taxation) left. Make it your #1 priority to clear this in 2025 because having a degree will open more opportunities.
You already passed all other subjects, so just focus on this one. If needed, get help from a tutor or YouTube courses on Taxation.
ccounting & Taxation (?25,000 - ?60,000 per month)
Since you already studied B.Com, this is a natural career path.
Learn Tally, GST Filing, Income Tax Filing.
Free courses: Government’s NPTEL, YouTube (Search “GST Filing Course India”)
I believe in you. Take the first step today! Your situation will improve within 1 year.

...Read more

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.

Close  

You haven't logged in yet. To ask a question, Please Log in below
Login

A verification OTP will be sent to this
Mobile Number / Email

Enter OTP
A 6 digit code has been sent to

Resend OTP in120seconds

Dear User, You have not registered yet. Please register by filling the fields below to get expert answers from our Gurus
Sign up

By signing up, you agree to our
Terms & Conditions and Privacy Policy

Already have an account?

Enter OTP
A 6 digit code has been sent to Mobile

Resend OTP in120seconds

x