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Can I Retire Early Despite Working in Different States?

Anu

Anu Krishna  |1442 Answers  |Ask -

Relationships Expert, Mind Coach - Answered on Nov 18, 2024

Anu Krishna is a mind coach and relationship expert.
The co-founder of Unfear Changemakers LLP, she has received her neuro linguistic programming training from National Federation of NeuroLinguistic Programming, USA, and her energy work specialisation from the Institute for Inner Studies, Manila.
She is an executive member of the Indian Association of Adolescent Health.... more
Asked by Anonymous - Nov 06, 2024Hindi
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Relationship

Hi, I am 55 and married to a wonderful lady of 52. Both of us are employed. We have been blessed with a son who has done his MBBS and now undergoing his PG in a reputed govt hospital. Problem is that I am working with a pvt company ( listed ). While my wife works with a govt company. We are located in two different states and not possible to travel from home on daily basis. So we meet up once a month only. Generally on a second or forth Saturday. As I work with a company where I have to take permission to leave HQ, I feel frustrated that even after working for more than 30 years, one needs to take a permission. Work culture over the years has changed too much as the company has changed hands many times. And now I am not able to change nor ready to change my way if working. And thua brings out friction in my job and affects my performance everywhere. I wish to leave the job as only 03 years are balance and I feel that having a good enough health would allow me some time to pursue my hobbies of travel and meeting with my relatives which I have ignored for so many years. While I wish to take an early retirement ( no financial liabilities and a good enough bank balance and own home too.) But wife is not agreeing to this. Whenever I raise the topic we end up arguing too much and don't reach any conclusion. Regarding her job, she has to travel by own vehicle for almost 45-60 minutes daily. So she cooks only once and for dinner she consumes whatever cooked in morning. House help is not easily available and she is.not able to adjust with them. I don't like this and if I leave my job I could help her with household chores as well. So, my query is how do I pursuade my wife to let me leave the job ( I am not at all insisting for her to leave the job as well ). How do I make her understand that we are financially well enough and our son would do well in his career without needing any more help from us. My continuation in my job frustrates me and I can't think of anything but to leave the job.

Ans: Dear Anonymous,
It seems to me like your wife is quite comfortable with the current situation. So, it's up to now to handle the conflicts that you are facing.
If you want to leave your job, why do you need to persuade your wife to allow you to do that especially if you are financially stable and secure?
Before taking any major life-changing decisions, take a break from work, travel, socialize, spend time with the family, engage in new pursuits and see if anything new comes up...what excites you? What can you do with that excitement? Can you create something new with it? Does it force you see something different or change the course of your job, your life?
Unless you don't take that moment to STOP and experience something different, you will not allow yourself to have choices. So, build choices and build different ways of thinking and that will enable you to move from frustration to transformation. Take that first step, take a BREAK!

All the best!
Anu Krishna
Mind Coach|NLP Trainer|Author
Drop in: www.unfear.io

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Dr Ashish

Dr Ashish Sehgal  |120 Answers  |Ask -

Relationships Expert, Mind Coach - Answered on Aug 08, 2023

Asked by Anonymous - Jun 26, 2023Hindi
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Relationship
Hello Mr. Ashish, Hope you are doing good!! Background of Persons: I had arranged married since last once year. I already told them before proceeding that I want to continue my carrier and grow forward in the same city. Also, I want to leave in a joint family along with my parents. My spouse is working in government sector. She told me that her Job is transferrable and she is ok moving forward and leaving in my city along with your parents. I am working in MNC at good position and also supporting my family members. Problem: My wife is forcing me to leave separately, shift to another city and start from scratch(zero) in different state having different cultural and traditions. She is also working in government sector and not taking transfer to spouse(husband's) city. Even after explaining couple of times, she is resisting to re-allocate. I am ok if she does anything independently for earning in same city. Also, I will help her in getting the job in private sector in the same city. Also, I will get her employed in another sector through my contacts and preparing her. I am not dependent on her in terms of financial things. We are living separately due to work duties and spent less time together for a week in every month or two month as per the adjustment from both of us. My spouse is not talking properly to me, blocks me, add me to blacklist and threating me to get separated and take divorce. I already had financial and social liabilities on myself which my wife is aware about. I had not seen positive responses from her towards myself, my family and goals. I am ready to leave separately in the same city even if she earns or not. This is impacting my performance in my work. Question: It looks to high danger to me moving to different part of the country having different cultures starting from scratch based on assessments on different parameters. Also, she does not want to take the household chores responsibility. How can be of sure that I can trust her for co-operation in a unknown city? What is the better solution for this ?
Ans: Hello! It sounds like you're facing a complex and challenging situation. It's important to address these issues with care and open communication. Here are a few steps you could consider taking:

Open Communication: It's crucial to have an open and honest conversation with your spouse. Try to understand her perspective and the reasons behind her resistance to moving to your city or taking up a job in the private sector. Share your concerns and feelings as well. Having a calm and respectful discussion can help you both reach a deeper understanding of each other's needs and concerns.

Seek Professional Help: If communication isn't resolving the issues, it might be helpful to involve a professional, such as a marriage counselor or therapist. They can provide an unbiased perspective and guide you both through productive conversations to find solutions that work for both of you.

Explore Compromises: Is there a middle ground that you both can agree upon? Maybe it's possible for her to find a job in the same city, even if it's not the same sector. Or perhaps you could discuss a timeline for her to explore opportunities in your city. Finding compromises can help address both of your needs and concerns.

Consider Long-Term Plans: Think about the long-term implications of your decisions. Moving to a new city with different cultural norms and starting from scratch can be challenging, especially if you have existing commitments and a stable life where you are now. Evaluate the pros and cons carefully before making a decision.

Personal and Professional Goals: It's important to keep your personal and professional goals in mind. You have worked hard to achieve your position and support your family. Make sure any decisions you make align with these goals while also considering your spouse's desires and career aspirations.

Financial Independence: You mentioned that you are financially independent. If your spouse is also capable of being financially independent, discuss how you both can contribute to your shared expenses and responsibilities, regardless of where you live.

Future Planning: If moving is inevitable, plan ahead. Research the new city, its job opportunities, and lifestyle. Think about how you can support each other during the transition and beyond.

Time and Patience: Complex issues like these take time to resolve. Be patient and understanding with each other as you work through your differences.

Remember that both partners need to compromise and work together for a successful and fulfilling marriage. It's important to prioritize open communication, mutual respect, and understanding each other's perspectives as you navigate through these challenges. If the situation becomes increasingly difficult to handle, seeking professional help can provide guidance and clarity.

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Anu

Anu Krishna  |1442 Answers  |Ask -

Relationships Expert, Mind Coach - Answered on Feb 17, 2024

Asked by Anonymous - Feb 11, 2024Hindi
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Relationship
Hi Anu, I am working in a central psu and my wife works for state govt and both are 48 yrs. We are married for 20 yrs and have 2 sons (20 &16). She is never expressive nor vocal, because of this our marital relationship have not seen even a single day of happiness. Her parents never ever made her realised that problem can be from her side too nor asked me even a single time whats is bothering me. She is over ambitious in her job and neglects everything in the personal life. This negligence started from the day 1 of the married life. She never try to understand the problem and reasons behind and just ignore and move ahead. This makes life miserable and likewise 20 yrs passed.. Its like when sons are moving out of home, I feel very much alone and sometimes feels to runaway from life...She dont show any emotions, giving the reasons that its her nature...She says loves me, but whats that love which is not felt by me for a single day...I wanted a wife not a nurse.. What to do....I lost my hope of life.
Ans: Dear Anonymous,
I am sure there is an issue that you are facing BUT to generalize it as: because of this our marital relationship have not seen even a single day of happiness.
Are you sure that has not been a single day or a single moment of feeling some joy? DO NOT indulge in this kind of belief as it only makes the issue look bigger than what it maybe.
If you feel alone, talk to her and tell her exactly how you feel. It's your marriage as well; do something to stay in it.
If there is a reason for her to be the way that she is, that needs to be addressed. Also, by complaining rather than facing the issue together, you are alienating yourself from the marriage. Give this a fair chance and deal with it in a mature way. Talking about it helps more than complaining; as she will bring her list of complaints and then it just gets into a loop.
- have an honest conversation
- make space for a back and forth conversation
If she refuses to talk, then possibly there is a need for a professional to intervene. She will also need to understand what hurts you and work on it, so that the marriage moves on smoothly. Marriage is a two-way dance.

All the best!

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Latest Questions
Anu

Anu Krishna  |1442 Answers  |Ask -

Relationships Expert, Mind Coach - Answered on Jan 19, 2025

Asked by Anonymous - Jan 13, 2025Hindi
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Relationship
Hello..I met him on Jan 4 th of 2024.. this year he is not with me. We were in a relationship for almost 8 months. Everything was fine and blissful. Last December he told me he needs some time to decide about our relationship. First of all it was a blow to my confidence..I thought he will stay by my side no matter what it is. After a few days he told me he wants to move on. I was in no contact for 10 days. After I went back and called him..he told me he is talking with another girl and he likes her and going to marry her. My world was broken. The reason for this? Our horoscopes doesn't match also he brings up caste differences even though there is not much difference. We were each other's best friends cared and loved each other so much. Stood by eachother's tough times..I begged him I cried d...I lost all my self respect..I somehow wanted to keep him with me...but he threw me away. It pains a lot. I haven't recovered yet..but he is going to marry her very soon...the toughest part here is I have to see him everyday atleast for the next 6 months. How will I handle if he gets engaged? How will I handle when he gives out his wedding cards? I have big goals in life I want to achieve them. But I am terrified what if it all crumbles because of my inability to handle this pain and suffering? What should I do? Your suggestion is very much needed.
Ans: Dear Anonymous,
You did invest too much of yourself in him; but who can stop the way feelings move, right?
As hard as it maybe to accept this reality, move on...initially, it will be painful, but it's not worth losing yourself to anyone. Protect your identity and know that it does not stem from anyone or anything BUT it's YOU who defines it.
Maybe the past year that you lost time and could not focus on your goals, this year can be your year. Let him do what he needs to; why focus on someone who did not have the decency or courage to tell you things on your face. What will you gain by actually being with a person like that? I am sure you deserve much more...
Your goals and aspirations need you; go for it!

All the best!
Anu Krishna
Mind Coach|NLP Trainer|Author
Drop in: www.unfear.io
Reach me: Facebook: anukrish07/ AND LinkedIn: anukrishna-joyofserving/

...Read more

Anu

Anu Krishna  |1442 Answers  |Ask -

Relationships Expert, Mind Coach - Answered on Jan 19, 2025

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Relationship
The seconds of time during taking action..I get into the overthinking/over-analysing thoughts... 1. Imaginative: Where I becom's the character & live life(see images, speak..) in those..like being rich,powerfull,disciplined,wife,kids....things which I want/perceive from social media...+ memos of past also.. 2. Stuck: Where I becom's a "OBJECT" & voices + images of brain guides me to quit task's when doing things/challenging...by saying.. *What this thing(task/book..) gonna benefit you? *Don't do it, you will do worse/fail..people gonna judge/laugh to you...look yourself!!..no good face, no good dress, u don't hv courage/skill to do that thing. 3. Coping: "Quit it" & use Mobile(songs,reels,yt videos..) to stop/distract myself from those dark clouds. i) What/How [solution] to don't get stuck in those next time. ii) How to use that overthinking for my advantage.. with hving control. iii) I tried to fill the possible voids by dress/looks but things were same..so it's internal.. What to do for that?
Ans: Dear Work,
Overthinking and over processing never helped anyone. Focus on your self-talk and change that.
- Journaling
- Sports
- Art work
- Meditation
- Breathwork
These are a few ways in which you can attempt to slow down the mind from racing thoughts. Once that happens, work on your self-talk to make it more useful where you start to direct yourself towards what you want to do.

All the best!
Anu Krishna
Mind Coach|NLP Trainer|Author
Drop in: www.unfear.io
Reach me: Facebook: anukrish07/ AND LinkedIn: anukrishna-joyofserving/

...Read more

Ramalingam

Ramalingam Kalirajan  |7550 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on Jan 19, 2025

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Money
Hello Sir. I have Rs1,00,000 that I want to invest as a lump sum in SBI Mutual Funds for the long term (15+ years). Considering that SBI has one of the largest Asset Management Companies (AMCs), could you please recommend which SBI Mutual Funds would be suitable for such an investment and have the potential to deliver good returns over this period? I am doing this investment for my daughter's education.
Ans: Your decision to invest Rs 1,00,000 for your daughter's education is commendable. A long-term horizon of 15+ years offers significant growth potential through mutual funds. Below are insights and recommendations to guide your investment.

Why SBI Mutual Funds?

SBI is one of India’s largest and most trusted AMCs.

They offer a wide range of funds suitable for different goals and risk levels.

Their consistent performance track record reflects sound fund management.

Key Factors to Consider for Long-Term Investments

Investment Objective:

Education is a critical financial goal.

Focus on wealth accumulation through equity-oriented funds.

Risk Appetite:

Equity funds involve volatility but offer high growth.

Ensure alignment with your risk tolerance.

Fund Type Selection:

Choose funds based on asset allocation and diversification.

Evaluate the performance of large-cap, mid-cap, and hybrid funds.

Tax Implications:

LTCG over Rs 1.25 lakh is taxed at 12.5%.

Understand taxation for equity and debt funds.

Suggested Fund Categories for Your Investment

1. Large-Cap Funds

Invest in funds focusing on well-established companies.

They offer stability and moderate risk.

Suitable for conservative investors.

2. Mid-Cap Funds

These funds focus on medium-sized companies with high growth potential.

They are riskier than large-cap funds but offer higher returns.

Suitable for investors willing to take calculated risks.

3. Flexi-Cap Funds

Invest across large, mid, and small-cap companies.

They offer diversification and the flexibility to adapt to market conditions.

Ideal for investors seeking balanced growth.

4. Equity-Linked Savings Schemes (ELSS)

ELSS funds offer tax benefits under Section 80C.

They have a lock-in period of three years.

Suitable for investors aiming for tax-efficient long-term growth.

5. Hybrid Funds

Invest in a mix of equity and debt instruments.

They offer stability through debt and growth through equity.

Suitable for moderate-risk investors.

Benefits of Investing Through a Certified Financial Planner (CFP)

CFPs offer expert guidance tailored to your goals.

They help monitor fund performance regularly.

They ensure optimal fund selection and rebalancing.

Regular plans through CFPs provide dedicated service and support.

Why Choose Actively Managed Funds?

Active funds aim to outperform benchmarks through expert fund management.

They offer higher potential returns compared to index funds.

Fund managers actively adjust portfolios based on market trends.

Ideal for long-term investors seeking growth.

Key Steps to Start Your Investment

Define your financial goal clearly.

Consult with a CFP for fund selection.

Review the chosen fund’s historical performance and portfolio composition.

Use SIPs for additional investments to benefit from rupee cost averaging.

Monitor your portfolio periodically to ensure alignment with your goals.

Final Insights

Investing in SBI Mutual Funds is a smart choice for your daughter’s education. Selecting the right fund category ensures growth and stability over 15+ years. Partnering with a Certified Financial Planner ensures professional guidance and optimal returns. Stay committed to your goal, review your investments regularly, and focus on long-term growth.

Best Regards,

K. Ramalingam, MBA, CFP,

Chief Financial Planner,

www.holisticinvestment.in

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

...Read more

Ramalingam

Ramalingam Kalirajan  |7550 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on Jan 19, 2025

Asked by Anonymous - Jan 19, 2025Hindi
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Money
I am an NRI with an NRO trading account through Zerodha, but I cannot trade in F&O and Intraday. I have been filing my returns consistently though I have had no income in India in the last 10 years. But I have investments in MF, PPF, NPS, Medical and Life Insurances, ULIPs which were initiated while working in India and had tax saving options and it is being continued. I would like to trade in F&O and Intraday. My wife is not employed till date and has a regular savings account with the Bank which is Resident Indian normal account. She has never filed any IT returns since as there was no income and transactions from my side were only for family maintenance. My question is, can I open a regular trading account in her name so that we can do trading in F&O and Intraday? What are the necessary things which I need to follow for filing IT returns and how my investments can be helpful to file returns through her account. She doesn't have any investments except LIC & Health Insurance policies in her name for which I pay from myside.
Ans: Yes, you can open a trading account in your wife's name to trade in F&O and intraday; however, there are a few important considerations:

Steps to Open a Trading Account:
Convert Savings Account to a Trading-Compatible Account: Ensure her existing bank account supports trading transactions. If not, convert it to a trading-compatible savings account.
KYC Compliance: Complete her KYC process with updated details, including PAN, Aadhaar, and a valid address proof.
Link Demat and Trading Account: Open a Demat and trading account in her name with a broker that supports F&O and intraday trading for resident individuals.
Nominate a Separate Source of Funds: Ensure the funds transferred to her account are not directly linked to your NRI account to avoid legal and taxation issues.
Tax Implications:
Income from Trading: Any income generated from trading in her account will be considered her income. Since she has no other sources of income, her income from trading may be taxed as per the slab rate applicable to her.
Gift Declarations: Funds transferred to her account can be considered a gift. Gifts from a spouse are exempt from tax, but the income generated (through trading) will be clubbed with your income under Section 64 of the Income Tax Act.
Filing IT Returns:
She will need to file her own ITR if her total income (including trading profits) exceeds the taxable limit (Rs. 2.5 lakhs for individuals below 60).
Any clubbed income will still require an ITR to declare the source and details.
Investments for IT Filing:
Investments in her name (e.g., LIC and health insurance) can help:

Claim deductions under Section 80C for LIC premiums.
Claim deductions under Section 80D for health insurance premiums.
Alternative Suggestions:
Joint Investments: Instead of opening an account in her name, consider using investments in her name (LIC, insurance, etc.) to improve her financial standing without additional compliance.
Professional Advice: Engage a CA familiar with NRI taxation and clubbing provisions to ensure full compliance and proper structuring.
If you'd like detailed help with tax planning, compliance, or investment strategies, let me know!

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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