Hello,Mam Good day to you I have recently gone through your answers to various queries of several people so thought to ask you something which is pinching my heart daily. I married to a girl in April 2019 as an arranged one.I work on board merchant ships & have to stay away from home for several months(6-7) months & also being Manglik as per my horoscope details hence was finding difficult to get someone agreed for the marriage.However at the age of 32 years,I got married in 2019 without considering & giving much thought as I was frustrated with talking to so many families & denied by most of them due to above stated reasons. After marriage,I found her not been capable to take the responsibilities at home and much interested towards house chores or helping my parents at home.Many things were concealed by their parents & were just being hided.She is not able to cook food for the family,not able to read,write Hindi, English properly.My parents gave her enough support & tried to teach her & learn but even after 4 years of marriage she is unable to take her responsibilities at home.She now also shows some unexpected behaviour like laughing unnecessarily & speaking to herself most of the times while working or sitting at any public place, shop etc which makes me very embarassing. After seeing all this,I took her to the Hospital (Medical College in Lucknow) for check up where the doctors told me that she has Scheophrenia ( mental depression) for which medication will continue for a long time which has a deep rooted shock to me. She stayed twice with her parents 6-7 months in a year when I was at work on board merchant ships. Now again she is staying with her parents as we are unsure if anything goes wrong with her then her family will blame us. I want to give her divorce but don't know how to go for it ? At this age of 36 years will I get someone else or not is what coming in my mind ? Both of us are not talking neither our family members with each other. We don't have any child ,my father is handicapped senior citizen,mother also being old & makes difficult to manage at home. Can she ask for any alimony if I proceed for divorce now ? Please reply Thanks.

Ans: Hello Rupak
Unable to predict about Manipal campus admission and counseling process. But be positive with Jaipur campus.
Best of luck to you.
Follow me if you like the reply. Thanks.
Radheshyam

Ans: as per FY 25-26, no tax for any salaried person up to 12.75L

Ans: HI,
I believe I have addressed your query.

Ans: You have five family members. Your spending pattern is moderate.



You own equity shares worth Rs. 1.45 crore.



Mutual fund investments are worth Rs. 82 lakhs.



Running SIPs of Rs. 22,000 in small cap, multicap, and flexicap funds.



You have a home costing Rs. 90 lakhs. Loan is fully paid.



You also own another house worth Rs. 65 lakhs.



Health insurance of Rs. 25 lakhs floater + Rs. 1 crore super top-up.



Term insurance of Rs. 2 crore each for you and your wife.



Daughter is 10 years old. Need Rs. 60 lakhs after 6 years for education.



Planning to retire between age 58 and 60.



Appreciation and Positives

You have created strong asset base at an early stage.



Your insurance coverage is very good.



Loan-free status and regular SIP show great discipline.



Moderate expenses reflect financial maturity.



Suggestions for Daughter's Education

Education goal is within 6 years.



Equity shares and small cap MFs are high-risk for short-term goals.



Please move required Rs. 60 lakhs in staggered manner.



Shift to low-volatility hybrid or short-duration debt mutual funds.



Start switching now and complete it within next 3 years.



This will reduce volatility risk and protect capital.



Retirement Planning Evaluation

Retirement in 16 to 18 years is a medium to long-term goal.



Your existing corpus of Rs. 2.27 crore (Shares + MF) is strong.



SIP of Rs. 22,000 may not be enough for your target retirement.



Retirement corpus needed could be Rs. 6 crore to Rs. 7 crore approx.



You may need to increase SIP gradually to Rs. 50,000 or more.



Focus more on multicap and flexicap funds.



Avoid small cap for retirement corpus due to volatility.



Use active funds with good long-term track record.



Avoid index funds due to lack of downside protection.



Direct vs Regular MF Investing

Investing directly is not suitable for goal-based planning.



Direct plans lack handholding and review.



Regular plans through MFD + Certified Financial Planner offer continuous tracking.



Helps optimise portfolio and rebalance when needed.



Real Estate

No new investment is needed in real estate.



Real estate is illiquid and gives poor inflation-adjusted returns.



Holding two homes is enough.



Life Insurance

Term cover of Rs. 2 crore each is good.



Please review sum assured every 3 years.



Increase cover if income increases substantially.



Health Insurance

Rs. 25 lakh floater and Rs. 1 crore top-up are excellent.



You have good protection against medical expenses.



Estate Planning

Please write a Will for both of you.



Nominate each other and your daughter in investments.



Create a basic estate plan for smooth transition of assets.



Tax Planning

Track capital gains from equity MFs.



LTCG above Rs. 1.25 lakh taxed at 12.5%.



STCG taxed at 20%.



Debt fund gains taxed as per your income slab.



What Needs Focus Now

Prioritise daughter’s education goal. Begin reallocation today.



Review and increase retirement SIP amount steadily.



Avoid direct and index funds.



Continue regular review of term cover, health cover.



Do not invest in annuities or real estate now.



Rebalance equity portfolio. Prefer diversified and actively managed MFs.



Finally

You are financially stable and secure.



You need few tactical shifts to optimise your plan.



Focus on structured goal-based investing.



Follow 360-degree approach for financial well-being.



Engage with a Certified Financial Planner regularly.

Best Regards,

K. Ramalingam, MBA, CFP,

Chief Financial Planner,

www.holisticinvestment.in

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

Ans: You are 52 now. You want to work till 65.

You have 13 more earning years. You are thinking about retirement planning. That is timely.

You also have dependent family members. You also have big goals like son’s education and marriage.

Now let’s build a 360-degree view and give a clear action plan.

Understanding Your Current Financial Profile
Your monthly income is Rs. 3.5 lakhs. That is a strong income.

Your current savings rate is only 10%. That is Rs. 35,000 per month.

You are living in your own house. There is no loan on it. That is a strength.

You have taken a loan of Rs. 75 lakhs for a second house. EMI is Rs. 80,000.

You already have assets in many categories. Let’s list them below.

Your Asset Distribution Today:

Equity portfolio: Rs. 50 lakhs

Mutual Funds: Rs. 5 lakhs

Fixed Deposits: Rs. 10 lakhs

PPF: Rs. 7 lakhs

Physical Gold: Rs. 20 lakhs

Father’s home (in your name): Rs. 80 lakhs (Not for sale now)

Immediate Observations on Current Strategy
Your debt EMI is around 23% of your monthly income. That is on the higher side.

Your overall investments are diversified, but need better allocation.

Your gold holding is 20% of your investment value. That is too high.

You have very low exposure to mutual funds. That needs to be increased.

Your equity value is high. But need to check the quality and risks.

You are saving only 10% of income. That needs to be doubled.

Your Key Goals Identified
Retirement at age 65. You have 13 years to plan.

Son’s higher education abroad. It is a near-term high-cost goal.

Son’s marriage. This will also need large funds.

Managing your father’s needs. It needs regular cash flow.

Regular income for wife in your absence. This must be secured too.

Retirement Fund Planning
Let’s first plan for retirement. That is your most important long-term need.

You are 52 now. You want to retire at 65. So, 13 years of saving time.

After 65, you may live for 25 more years. So plan for at least 25 years.

You may need Rs. 80,000 per month (in today’s value) during retirement.

Due to inflation, this will grow. You may need over Rs. 2 lakhs monthly at retirement.

So, you must create a retirement corpus of at least Rs. 4.5 to 5 crores.

This includes both lifestyle expenses and healthcare.

This corpus must be built step by step from now.

Strategy for Retirement Corpus
Start saving 25% of your income every month for retirement. That is Rs. 87,500.

Increase your mutual fund allocation for long-term goals.

Use actively managed funds. Do not use index funds.

Index funds lack fund manager skill. They just copy the market.

In market downturns, index funds may fall harder.

Actively managed funds help manage risk better.

Also, do not invest in direct mutual funds.

Direct plans may save cost but offer no personal advice.

Instead, invest via MFDs who are guided by Certified Financial Planners.

You get personalised planning and continuous review.

Review asset allocation every year with help of your planner.

Education Planning for Son
This goal is coming soon. You will need a big amount.

Find out the total cost of his course. Include tuition, living, travel.

Start a dedicated SIP for this goal.

Use low-duration funds if the goal is less than 3 years away.

If you need funds within 2 years, avoid equity.

For 3-5 years horizon, use balanced allocation funds.

Don’t use FDs for long horizon goals. FD returns are not inflation-beating.

Also avoid gold for education goals. Gold is not predictable.

Use mutual funds with steady performance.

Rebalance quarterly if possible. This reduces risk.

Marriage Planning for Son
Set a budget for the wedding.

You still have time for this goal.

Use long-term mutual fund SIPs to build the marriage fund.

Choose good performing diversified funds.

Don’t stop SIPs midway.

Review once a year to check target progress.

Avoid investing in real estate for this goal.

Real estate has low liquidity and high entry cost.

Your EMI and Real Estate Strategy
EMI of Rs. 80,000 per month is fixed now.

That is around 23% of your monthly income.

Try to prepay this home loan faster.

Make annual part-payments if possible.

Reduce the interest outgo and loan term.

Don’t buy another property now.

Real estate has high cost and low flexibility.

Also, selling a property takes time and effort.

Instead of more properties, focus on mutual funds.

Mutual funds offer better liquidity and professional management.

Also, no maintenance cost like in property.

Optimising Your Investment Portfolio
Let’s optimise your current investments. Below are ideas:

Equities (Rs. 50 lakhs):

Review portfolio quality and sector allocation.

Exit high-risk or non-performing stocks.

Diversify better across sectors and themes.

Avoid too much exposure to small-cap or penny stocks.

Consult a Certified Financial Planner for portfolio review.

Mutual Funds (Rs. 5 lakhs):

This is very low compared to equity. Increase it step by step.

Add SIPs in actively managed funds.

Avoid NFOs and trendy sectoral funds.

FDs (Rs. 10 lakhs):

These give low returns after tax.

Keep only for emergency fund or 1-year goals.

Rest should be reallocated to better products.

PPF (Rs. 7 lakhs):

Continue yearly contributions till retirement.

This gives tax-free and safe returns.

Max out yearly limit for compounding benefits.

Gold (Rs. 20 lakhs):

This is 20% of your portfolio. That is too high.

Reduce it to 10% slowly.

Avoid physical gold. Instead shift to Sovereign Gold Bonds.

Physical gold has storage, wastage, and purity issues.

Family Protection Strategy
Life Insurance:

You must have a term plan of 15 to 20 times annual income.

This covers your family’s future if something happens to you.

Don’t buy investment-linked policies.

If you hold LIC or ULIP or endowment plans, surrender them.

Reinvest that amount in mutual funds.

Health Insurance:

Ensure separate cover for all family members.

Include your father and son too.

Corporate cover is not enough. Take individual policy.

Also add critical illness cover.

Estate Planning and Father’s Home
Your father’s home is in your name.

You don’t plan to sell now. That is fine.

Keep all documents clear and updated.

Make a registered Will. Mention distribution wishes clearly.

Nominate your wife and son in all financial instruments.

This avoids legal issues later.

Action Plan Summary
Increase your monthly saving to 25% of income

Use mutual fund SIPs to build retirement, education, marriage goals

Avoid index funds and direct plans. Use active funds via MFDs with CFP help

Reduce exposure to real estate and gold

Review equity portfolio with professional help

Prepay second home loan gradually

Secure family with term insurance and health cover

Rebalance portfolio yearly

Create Will and update nominations

Finally
You have strong income and some assets. That is a good start.

But current savings and portfolio allocation need changes.

Real estate and gold are high. Mutual fund exposure is low.

You need to shift slowly from fixed assets to liquid investments.

You also need goal-based planning. Separate funds for each goal.

Your retirement corpus target is Rs. 4.5 to 5 crores.

With 13 working years left, it is possible with discipline.

Take help from a Certified Financial Planner to build and monitor your plan.

Stay invested regularly. Review yearly. Protect your family always.

This approach will bring financial peace and clarity.

Best Regards,

K. Ramalingam, MBA, CFP,

Chief Financial Planner,

www.holisticinvestment.in

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

Ans: HI,

Don't you think that you might be engaging in malpractice by changing your category from General to OBC-NCL? Please remember that government agencies are still monitoring this, and it could lead to significant issues for you in the near future.

Ans: The entire income will become taxable but all the other deductions are available for her to get her income down to no tax limit.

Ans: Hello, depends if you select the new tax regime or old tax regime

Can have a detailed understanding for the same on my LinkedIn profile, attaching my profile :
https://www.linkedin.com/in/ca-vivek-lala-21a2038b?utm_source=share&utm_campaign=share_via&utm_content=profile&utm_medium=android_app

Ans: Zero from FY 25-26