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Kanchan

Kanchan Rai  |533 Answers  |Ask -

Relationships Expert, Mind Coach - Answered on May 24, 2024

Kanchan Rai has 10 years of experience in therapy, nurturing soft skills and leadership coaching. She is the founder of the Let Us Talk Foundation, which offers mindfulness workshops to help people stay emotionally and mentally healthy.
Rai has a degree in leadership development and customer centricity from Harvard Business School, Boston. She is an internationally certified coach from the International Coaching Federation, a global organisation in professional coaching.... more
Asked by Anonymous - May 23, 2024Hindi
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Relationship

I am a 38 year old male working in an IT firm and having a good earnings. I am married and with a girl daughter 8 years old. I have cleared all my debts and also am saving for my daughter's future studies and life. I have this wired feeling of what if my earning stops, what if I lose my job, what if I die early 40s. Etc.. I get such random thoughts and get into a low phase.. Besides I am doing good at work and also trying keep my health in a decent shape . But these random thoughts is not so good and I get depressed cos of it for some time.. is this normal for male getting into 40s ? I don't have much friends whom I can share and don't want to share this with my wife as I feel she might get sad too..

Ans: It's quite common for individuals approaching their 40s to experience concerns about their future, financial stability, and health. This period, sometimes referred to as a midlife transition, often brings about a re-evaluation of life goals, achievements, and concerns about mortality.

Firstly, it's important to recognize that these feelings are normal and shared by many people. You're at a life stage where responsibilities often increase, and the realization that life is finite becomes more prominent. Acknowledging that these thoughts are common can be a reassuring first step.

Financial security can play a significant role in mitigating these anxieties. Ensuring that you have a solid emergency fund, sufficient insurance coverage, and a well-thought-out financial plan for the future can provide a sense of security. Given that you've already cleared your debts and are saving for your daughter's future, you're on the right track. Consider consulting a financial advisor to further solidify your financial plans.

In terms of job security, staying updated with industry trends, continuously learning new skills, and networking within your field can help you feel more secure about your career prospects. This proactive approach can also provide you with a sense of control over your professional life.

Maintaining your health is another crucial factor. Regular exercise, a balanced diet, and routine medical check-ups can help you stay healthy and reduce health-related anxieties. Mental health is equally important; practices such as mindfulness, meditation, or even talking to a therapist can help manage stress and anxiety.

It's also important to have a support system. While you might not want to share your concerns with your wife to avoid making her anxious, finding a confidant or a therapist to talk to can be very beneficial. They can provide a different perspective and offer support.

Lastly, try to focus on the positive aspects of your life. Reflect on your achievements, the stability you've created for your family, and the goals you've set for the future. Engaging in hobbies and activities that you enjoy can also provide a healthy distraction from these worries.

In summary, your feelings are normal and can be managed through financial planning, career development, maintaining physical and mental health, and seeking support when needed. Remember, taking proactive steps towards these aspects of your life can greatly reduce anxiety and help you feel more in control.
Asked on - May 24, 2024 | Answered on Aug 08, 2024
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Many thanks this really helps..
Ans: pleasure

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Anu

Anu Krishna  |1494 Answers  |Ask -

Relationships Expert, Mind Coach - Answered on Oct 09, 2023

Asked by Anonymous - Sep 30, 2023Hindi
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Relationship
Hi, I am a 53 years old male, lost my loving wife last year who was 46, I do have 2 kids who are into higher studies now aged 22 and 18, off late have been feeling very lonely and upset and have not been able to forget my late wife, life seems to be too useless now. Many a times i think of having a new partner for the rest of my life then these feelings also die down. Am quiet worried as to how I will be able to live second half of my life as sooner or later the children will be busy in their own lives, what to do?
Ans: Dear Anonymous,
I am truly sorry for your loss...
The journey of grief is so different for each person and you can feel alright on one day and devastated on another day...Give your self ample time to grieve and speak about her; it will be painful but the more you allow yourself to speak about her, you will notice that you are closer to accepting the fact of your loss...it is a journey, so do take your time...
But in the meantime, do make sure that you do take help in the form of a support system of your family and friends. Yes, they do have their own lives but I am sure that they will step in kindly when it is required.
Also, you might find that you socially isolate yourself and move away from everything that used to give you joy. You must find a way of getting back to all of those things reminding yourself that you must live your life too...this is initially a way of filling the vacuum, but soon you will find that it does more that just distract you.

Finding another life partner is a decision that is yours to make; but I will suggest that you heal from the loss and then if and when you feel the time is right, you may seek a life partner. But right now, all you will do is find a huge respite to fill in your loneliness and not be able to form a connection with that person. So, take care of yourself first, heal well and then slowly make life-altering decisions.

All the best...I am sure you can do this!

..Read more

Kanchan

Kanchan Rai  |533 Answers  |Ask -

Relationships Expert, Mind Coach - Answered on Jun 02, 2024

Asked by Anonymous - Jun 01, 2024Hindi
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Relationship
Hi, I am 40 year old female with 15y/o son. Me and my husband together earn 40L/Annum. We have a house in Bangalore. Multiple properties in home town. Built a net worth of 5 crore. 20 lakhs FD. A liability of 32k per month for home loan for next 2 years. We could able to build this from zero just because I had an on-site opportunity for couple of years and I am very good in savings, no impulse buy. We don’t have other commitments and also investment. Now, I have started investing SIPs also, but don’t have that much knowledge in MF Sometimes, I feel like I don’t want to invest anymore and enjoy my life spending. Sometimes I am scared. I have achieved more than my limit financially. I have not made much friends in this period, I have very few genuine friends. Now I don’t know how to shift the gear from hear, I do self care and also do house hold work but somewhere I am not fully content as I lack social life. My relationship with my husband also good. We do fight very often and we both disconnect from each other at that time and later we realise and we connect back. At that time my husband ignores me. I feel hurt. In office, I have a professional commitment and I do my work as per need only. Don’t want to overdo. Not interested in taking up challenging role. I do my work, have lunch and tea with known colleagues and chitchat and comeback. Please guide me how I should make my life interesting. I have a fear of loosing people. I am an introvert. I cry a lot for small things. I feel like I have anxiety, depression, loneliness.
Ans: It's wonderful to see how much you've achieved financially and professionally. Your discipline and hard work have clearly paid off. However, it's equally important to focus on your emotional and social well-being to lead a fulfilling life.

First, it's important to acknowledge and validate your feelings. It's natural to feel a mix of satisfaction and uncertainty after reaching significant milestones. Many people experience a sense of "what's next?" after achieving their goals. This is a good time to explore new areas of personal growth and fulfillment.

One area to consider is your social life. While you have a few genuine friends, expanding your social circle could bring new joy and perspectives into your life. This doesn’t mean you have to force yourself into uncomfortable social situations. Start with small steps, like joining a club or group that interests you, whether it's a book club, a fitness class, or a hobby group. Engaging in activities you enjoy can naturally lead to making new friends.

Regarding your relationship with your husband, it's common for couples to have disagreements. However, the pattern of disconnecting and reconnecting might benefit from more effective communication strategies. Consider setting aside time to talk openly about your feelings and needs when you're both calm. Couples therapy can also provide a safe space to improve your communication and strengthen your connection.

At work, it’s okay to not want to take on more challenging roles if you feel content with your current position. However, if you find yourself feeling unfulfilled, it might be worth exploring what aspects of your job do bring you satisfaction and how you can incorporate more of those elements into your daily routine.

Finally, your tendency to cry easily and feel anxious could be signs of underlying emotional strain. It might be helpful to speak with a therapist who can provide you with tools to manage these emotions and explore any deeper issues that might be contributing to these feelings.

Remember, it’s perfectly okay to seek help and invest time in your emotional health. Balancing your impressive financial success with personal happiness and fulfilling relationships can lead to a more holistic sense of well-being. Take small steps towards expanding your social network, improving communication with your husband, and addressing your emotional health. These changes can make a significant difference in your overall satisfaction and happiness.

..Read more

Prof Suvasish

Prof Suvasish Mukhopadhyay  |357 Answers  |Ask -

Career Counsellor - Answered on Jan 28, 2025

Asked by Anonymous - Jan 24, 2025Hindi
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Career
Dear Professor I am 53 years old. Happily married having grown up kids 23 and 19. Recently I lost my job and unable to find a new one. It has been three months I am very scared of my future although I have savings of approximately 1.80 crore and a nice house. My elder son is in the final stages of settling abroad and my younger one will also follow him. I am afraid with little savings and kids settling abroad how I will survive and who will look after me in our old age? Now I also feel guilty about looking after my aged parents living with my divorced sister at my ancestral place although they are financially well off. I was very enthusiastic and successful in my career but since I lost my job I have also lost my confidence and zeal in life. I am feeling very low. I was already on medication for stress and hypertension before I lost my job. Please advise.
Ans: In Indian Scenario your saving is not bad provided you don't have any educational loan for your children. If you keep 1.8 Crores in SBI as a FD you will get per month approx interest INR-123000/- per month, though IT will be applicable. It's not a good amount if I consider a good life style. But I suggest you to find a new job and connect different people in LINKEDIN. What is your qualification? What kind of job you were doing? Let me know all the details related to your job profile. I can imagine your situation. It is just like thrown from an aircraft in high altitude without parachute. Insecurity is very natural. Please furnish the details so that I can guide you in a better way. Don't break down. Everything will be OK, it's a matter of time. Best of luck. Professor..............................:)

..Read more

Latest Questions
Janak

Janak Patel  |15 Answers  |Ask -

MF, PF Expert - Answered on Feb 10, 2025

Asked by Anonymous - Feb 10, 2025Hindi
Money
Advice Needed: Transitioning Back to India & Financial Planning Hello, I’m currently in the process of transitioning back to India after spending the last 15 years abroad. My family includes my wife (early 30s) and our 1-year-old baby. We are staying with my parents for now but are planning to move into a larger, more comfortable residence, either by buying or renting. I’d love to hear some perspectives on my financial situation, as I’m trying to figure out the best course of action in this new chapter. Here’s a quick summary of where I stand: 1. Cash Savings: We’re consolidating assets from both India and abroad, and will have about ₹4 crore in liquid funds. 2. Retirement Savings: I have a PPF-equivalent account of around ₹70 lakhs, which I can only access at age 65. I’m hoping the modest returns from this will be sufficient for my retirement. 3. Inherited Assets: I’ve inherited ancestral properties valued around ₹30 crore. I’m not planning to liquidate these assets or touch them for at least the next 10 years. 4. Career: I work in IT and expect a salary of about ₹1.3 lakh per month (after tax) in India. My wife is in the early stages of her career, so we’re still deciding whether she will work here or possibly start her own small business. Given all of this, here’s where I’m at: * Investment options: I’m considering investing the ₹4 crore in commercial real estate to generate passive income. I’ve seen a couple of properties with rental guarantees of ₹1.5 lakh per month, with a 5% annual increase. * Housing preference: My family prefers to live in a gated community, so I’m not really inclined to invest in residential property for passive income. * Housing decision: Should I buy an apartment or villa now, betting on my career certainty here, or focus on creating more financial freedom first before making career moves in India? In my heart, I feel that achieving financial independence should be my first priority before diving into career opportunities or starting a business here. What would you do in my situation? I'd love to hear your thoughts or any advice you can offer!
Ans: Hi,

Welcome back to India and Congratulations on taking this big decision to move back to India.

Before I start my response to your queries, just want you to know we share a couple of things in common. I was abroad for a considerable time and returned back to India and I was also in the IT field at that time, before I moved ship to Personal Finance and Financial Planning. So I can relate to some of your concerns, queries and thought process in that regard.

This may be a bit long but hopefully its helpful.
Your current Financial summary -
Cash/Liquid funds - INR 4 Crores
PPF equivalent - INR 70 Lakhs available at age 65
Inherited properties - valued at INR 30 crores no plan to liquidate as of now
Salary/Income - INR 1.3 lakhs per month in hand

As a few critical data points are not mentioned but with few indicators in queries, I will make some assumptions for the same - Age 37 years, Location for housing/work - Metro/2nd tier city.

Lets get a couple of things kept aside for this discussion -
PPF equivalent - INR 70 lakhs > for retirement can grow to an amount between INR 2 Crores (@4% returns) to INR 4.5 Crores (@7% returns), will cover this again when I mention Retirement below.
Inherited Properties - as there is no plan for liquidation, excluding this completely.

Decisions to be made -
1. Investment Options
2. Housing Buy/Rent
3. Financial freedom/independence

Lets go through each of these and I will add more for your consideration as they will have a weightage on all future decisions.

1. Investment Options
A> Commercial real estate with investment on INR 4 Crores and return of INR 1.5 lakhs per month
Pros -
Regular month income
Commercial Real Estate asset

Cons -
Return on Investment is 4.5% before reducing charges for maintenance, may be below 4% net in hand
Rental Income is taxable (added to other incomes and taxed as per slab rate) expect highest tax rate of 30% as total income will exceed INR 30 lakhs (Salary + rent)
All available funds will be deployed

Note - Commercial real estate appreciation is primarily based on location. Capital gains on Commercial real estate attract tax at 20% as of now.

B> Lets consider an alternative approach assuming investment is for a long term which is usually for real estate assets e.g. 20 years
Invest INR 4 Crores in Mutual funds.
A well diversified portfolio can generate 12% returns over the long term. The Corpus after 20 years will be over INR 38 Crores.

But considering your requirement for a monthly income from this investment, lets do another approach. Split your Investment.
Invest INR 2 Crores in a well diversified Mutual Funds portfolio expecting a 12% return - Corpus at the end of 20 years = INR 19+ crores
For regular income, Invest INR 2 Crores in Balanced Advantage mutual funds and considering a modest return of 10% (last 10 years data will show higher returns). Keep investment for 1 year before withdrawing to attract Long term Capital Gains tax (tax efficient approach). After 1 year you can receive INR 1.5 lakhs per month (increasing at 5% annually) for the next 20 years.

Pros -
Investment generates higher rate of return, Corpus growing/compounding at 12% return
Regular month income
Investment returns are more tax efficient
Flexibility to deploy all or partial funds towards building a corpus
Corpus can be liquidated in future much faster and easily than Real estate

Cons -
No real estate asset

Recommendation - Approach B is recommended as this will provide liquidity and appreciation towards wealth creation. This will also provide availability of funds for a new venture as and when required if that becomes a viable option in the future.

2. Housing Buy/Rent
If you plan to stay in India for long and settle down (not clearly indicated considering career options), you can consider buying a house property. But if the work location is not what you believe to be the place where you would like to settle down, then start with a Rental option and over time reconsider location for buying option.

Buying Property
Pros -
Asset is generated
Stability of residence if/when self occupied
Some amount of tax deductions/exemptions can be claimed if Loan is taken

Cons -
A large amount of funds required/blocked for full payment / partial payment (with loan)
EMI on Loan reduces income/funds in hand
EMI is much higher than rent
Locked to the property, change will be expensive

Renting Property
Pros -
Capital is not deployed immediately
Rent can be claimed for tax benefits
Provide opportunity to consider long term housing decision
Difference between EMI and Rent can be Invested to generate a good corpus
Flexibility to move jobs across locations

Cons
No Asset is generated
Rent is an expense
No sense of ownership in the house you stay

So in summary, the decision is more individual and how you perceive the house property as an asset. For flexibility to settle down in your career in India I can recommend to start with a Rental option and I am sure in a few years you will know where and what to buy (if at all) towards your house property. Also Location is again critical towards budget and type of housing to consider.

3. Financial freedom/independence
This is probably more important than we realize. With time if we accumulate debt through loans, and expenses, this is one goal which takes a back seat.
Assuming you have worked on the above 2 goals and finalized your options/approach for them, I would strongly recommend you plan your monthly expenses and cash in/outflows to understand what amount you have in hand that can be considered towards savings for the future.
With a long road ahead in your work life (another 20+ years), Asset allocation needs to be considered when planning to deploy your savings. Equity based investment can provide health returns for investments that are for more than 7 years and a well diversified Mutual Fund portfolio can achieve this. For requirements within 5-7 years do consider debt products to park your money and earn modest returns giving priority to liquidity and safety.

Few very important points are not mentioned but I would like to highlight and you should start considering them immediately.

1. Life Insurance - Buy a Term Life plan for yourself and once your wife starts earning, for her too. The amount needs to be calculated and my final recommendation (last para below) will cover this. Start with INR 50 lakhs and keep adding based on the Financial plan.

2. Health Insurance - Buy a good coverage for Family (even though you may have some with your employer). Recommend to go upto 1 Crore (and there are multiple options Base cover + Top-up covers for this).

3. Emergency Funds - Keep aside at least 6-9 months of expenses as emergency funds in a safe and liquid investment e.g. Fixed Deposits.

4. Your child's education - Within another 1.5 years schooling (pre-primary) will start and the education expenses are not as easily managed now. They will require a plan as they escalate very quickly as the child moves towards higher levels of education. Education inflation is in the range of 12% ~ 15% on average. So depending on what your decide for the school/education institute, this becomes a considerable amount and if unplanned may erode your corpus very quickly.

5. Though you have mentioned Retirement briefly, the PPF-equivalent amount will not be sufficient for retirement. Retirement typically at 60 years of age demands a corpus to cover the next 20-25 years of lifespan. Considering inflation may be just getting covered by the modest returns on your INR 70 lakhs fund, you are definitely short on the retirement side.

As you can see we have not considered the inherited property in this discussion, it can have a considerable impact towards your over financial plan.

Though I have provided some responses to your individual queries, this will still need a more comprehensive Financial Planning.
Hence I strongly recommend you approach a Certified Financial Planner and go through the process to arrive at a Financial plan which will be in sync with your Life plan. A CFP will take into account all aspects of your personal preferences and guide you towards various options and alternatives you can consider. The comprehensive Financial plan will include/cover all aspects of Investment management, Risk management (life and health Insurance), Retirement planning and Tax management - a tax efficient approach towards your requirements. Please remember just as Life is ever changing and evolving for each of us, so will your Financial plan require the changes and evolution to stay relevant for you, and this is where a CFP will add the most value when you have a long association. A CFP will plan and re-plan your goals and its requirements over the years and provide options and recommend the amounts and product categories to consider for each of them.

Best wishes for you to settle down and hope the above has provided a start towards it.

Thanks & Regards
Janak Patel
Certified Financial Planner.

...Read more

Ramalingam

Ramalingam Kalirajan  |7922 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on Feb 10, 2025

Asked by Anonymous - Feb 08, 2025Hindi
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Money
Hi, We will be having 15 Lakhs in hand by April 3rd week and can hold for next 3 years as we are planning to build a house at a tier 2 city - Coimbatore because I don't believe in flats system for a longer run as I am skeptical on the Uds and re-construction in the future. Also, monthly we can invest 15k in mutual funds and 80k for which we have decided to go for RD (conservative approach). Some of the apps are providing attractive offers to get higher FD returns from small finance banks (Ujjivan and North East Sf bank etc) , should we invest or to stick with HDFC and ICICI banks. Provide us a mix of plan (debt, equity and FD if possible) for 15 lacs and time horizon is 3 years. Thanks for your help!
Ans: Your approach is well thought out. You have a clear goal and a conservative mindset for short-term funds. Since the time frame is only three years, capital protection is the priority. Equity is not recommended for short durations due to volatility. A balanced mix of debt, FD, and liquid instruments will be suitable.

Allocation Strategy
Fixed Deposits (FDs) – 50% (Rs. 7.5 Lakhs)

Large banks like HDFC, ICICI, and SBI are safer for significant amounts.

Small finance banks offer higher interest, but risk levels are slightly higher.

Consider splitting FD amounts across large banks and reputed small finance banks.

Prefer banks with high credit ratings and check premature withdrawal terms.

Debt Mutual Funds – 30% (Rs. 4.5 Lakhs)

Choose high-quality short-duration funds with low credit risk.

Avoid long-duration debt funds as they are sensitive to interest rate changes.

Ensure the fund has a stable past record and consistent returns.

Ultra Short-Term/Liquid Funds – 20% (Rs. 3 Lakhs)

Suitable for flexibility and better returns than savings accounts.
Provides liquidity in case of urgent requirements.
Low risk compared to other debt instruments.
Monthly Investment Plan
Recurring Deposit (RD) – Rs. 80,000 per month

A conservative option ensuring stability.

Good for funds that need to be available within 3 years.

Choose banks offering competitive interest rates.

Mutual Fund SIP – Rs. 15,000 per month

Prefer actively managed equity funds for long-term wealth creation.
Avoid index funds due to lack of active risk management.
Opt for a mix of flexi-cap and mid-cap funds.
Small Finance Banks vs Large Banks
Small finance banks like Ujjivan and North East offer higher FD rates.
They are safe under Rs. 5 lakh due to DICGC insurance.
If investing above Rs. 5 lakh in such banks, evaluate their financial health.
For higher safety, prefer top private and PSU banks.
Tax Considerations
Interest from FDs and RDs is taxable as per your income slab.
Debt fund gains are taxed based on your income slab.
Plan withdrawals strategically to reduce tax burden.
Finally
Capital protection should be the priority for short-term funds.
Diversify into FDs, debt funds, and liquid funds.
Invest in small finance banks cautiously.
Continue SIPs for long-term wealth creation.
Best Regards,

K. Ramalingam, MBA, CFP

Chief Financial Planner

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

...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.

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