Hello, Firstly thank for your time, Well I am looking for some guidance regarding my married life, I am 40 yrs old man, married for 9 yrs, with a 7 year old daughter, ours was a love marriage with some ups and downs initially, but with time both of our families became supportive of us and the relationship continued. But 3 years back I caught my wife red handed having an affair with someone who worked for me. This broke me totally, made me feel embarrassed and since then it has been really difficult for me, but what broke me even further was my wife blames me for she taking such decisions in her life, she also shared rumors about me among our common friends, in society where we live behind my back ( I discovered this when I discovered her messages). She keeps blaming me or my family for even the smallest argument that we might have had in our relationship in the past and keeps maintaining the distance with me. Once the affair was discovered I was really upset and we had a huge fight over it, and it had some impact on our daughter ( who was almost 5 then), realizing that it would affect our daughter's life we mutually decided to give the relationship another try for the sake of our daughter and also our families came together to support this decision, now the problem is things aren't the same anymore, I always get a feeling of no regret from my wife and I feel embarrassed about what had happened, this has totally changed me as a person, once a man with lot of hope in life have become a person with no major aspirations in life. My daughter too is very much connected to my wife, this breaks me even more as a man/father. I tried to speak with my wife about this and her only point being I should hear what she feels and I do not understand her feelings etc... I do not understand how to deal with this, can you guide me? I want to become a better version , an example for my daughter again...I feel demotivated. Thanks again.

Ans: You are 33 years old, have an 8-month-old child, and plan to retire at 45. You are earning Rs. 1.2 lakh per month and currently have no savings. Your goal is bold and needs a clear and disciplined strategy. Let’s build a financial plan that works for you.

As a Certified Financial Planner, I will break it down into clear sections. This approach gives you 360-degree clarity.

Understand and Acknowledge Current Reality

You have 12 years to build your retirement corpus.

With zero savings now, early retirement at 45 needs focused execution.

Having a young child increases responsibility and expense going forward.

Right now, income is your only strength. Use it wisely and strategically.

Build a Solid Budgeting Structure

Start by tracking every rupee spent each month.

List all fixed expenses like rent, EMIs, fees, groceries, and transport.

Identify unnecessary spends like subscriptions, eating out, and gadgets.

Create a monthly budget with at least 35% for savings and investments.

Keep lifestyle inflation under check to maintain a healthy saving rate.

Create an Emergency Fund First

Emergency fund is the first step before investing.

Save at least 6 months of expenses in a separate liquid account.

Do not invest this money in risky options like shares or mutual funds.

Keep this fund in a mix of savings account and short-term liquid instruments.

Use it only for real emergencies like medical, job loss, or accidents.

Start Insurance Protection Immediately

You must protect your family from financial shocks.

You need term insurance of at least 15 times your yearly income.

Since you are the only earner, take Rs. 1.5 crore to Rs. 2 crore coverage.

Keep it separate from investment. Only pure term plans are required.

Take health insurance for yourself, spouse and child immediately.

Save for Retirement Before Other Goals

Retirement is your first priority as you have only 12 years left.

Save minimum 40% of your monthly income towards retirement corpus.

As your income grows, increase savings too without increasing expenses.

SIP (Systematic Investment Plan) in mutual funds is a powerful tool.

Begin SIP with even Rs. 15,000 per month and increase every 6 months.

Choose the Right Mutual Fund Strategy

Do not go for index funds. They are passive and follow the market blindly.

Index funds lack flexibility in falling markets and offer limited downside protection.

Prefer actively managed mutual funds. They can beat inflation better.

Invest in mutual funds through a Certified Financial Planner or MFD.

Do not choose direct mutual funds. You miss personalised guidance.

Children’s Education Planning is Secondary Now

Your child’s education will need funding in 15–18 years.

Right now, retirement is urgent. Prioritise it over child education.

Later, when retirement plan is on track, start SIPs for education.

Use goal-based investing. Tag your SIPs for each specific goal.

Avoid Any ULIP, Traditional or Combo Policies

Do not mix insurance and investments.

ULIPs, endowments and money-back plans give poor returns.

If someone sells such policy, ask if it beats inflation after tax and costs.

Avoid plans with lock-ins, poor liquidity and complex bonus structures.

Don’t Rely on Real Estate for Retirement

Real estate needs huge money, offers poor liquidity.

Selling property quickly is tough when you need urgent cash.

Rental yield is low and maintenance costs are high.

For retirement income, mutual fund SWP works better than real estate rent.

Use Step-Up SIP for Growing Contributions

Increase your SIP amount every year with income growth.

Even a 10% rise annually makes a big difference in final corpus.

This creates wealth without impacting current lifestyle too much.

Review Your Plan Every Year

Life situations and income levels change each year.

Set a fixed date every year to review your goals and investments.

Use this review to make changes if needed.

A Certified Financial Planner will guide you in reviewing goals and SIPs.

Plan Tax Smartly

Tax saving is important but should not be the goal of investment.

Don’t choose PPF or endowment just for tax benefit.

Use ELSS mutual funds. They give tax benefits and also create wealth.

Plan taxes using smart instruments. Avoid investing only to save tax.

Control Lifestyle Inflation

As salary grows, we spend more on lifestyle.

This kills the chance to save more. Stop lifestyle creep.

Keep basic comforts but avoid social comparison spending.

Budget extra income into investment before lifestyle upgrades.

Focus on One Goal at a Time

Don’t try to save for too many goals together.

You have 12 years. Use first 6–8 years only for retirement.

After building base corpus, plan for other goals like house or education.

Have a Clear Exit Strategy

Your retirement corpus should give income after age 45.

Don’t keep money idle. Use a withdrawal plan like SWP (Systematic Withdrawal Plan).

Use mix of debt and equity funds to protect principal and give income.

Plan it with professional help to reduce tax and risk.

Mind Your Taxes When You Withdraw

After retirement, mutual fund withdrawals will be taxed.

Equity mutual funds: LTCG above Rs. 1.25 lakh taxed at 12.5%.

STCG on equity taxed at 20%.

Debt mutual fund gains taxed as per income slab.

Plan withdrawal smartly to reduce tax burden post-retirement.

Avoid Personal Loans and EMIs

Stay away from loans for wants. Take loans only for needs.

EMIs reduce your saving ability and delay financial freedom.

If needed, build a sinking fund for upcoming expenses.

Don’t use credit cards or loans for vacation, shopping, or gadgets.

Build Financial Discipline Through Automation

Automate SIPs and savings through ECS.

Treat SIP like any other bill or EMI. Never skip it.

Auto transfers remove the temptation to spend first.

Keep a separate account only for investments.

Use Joint Planning with Spouse

If spouse earns, make her part of your plan.

Plan joint goals like child’s education and retirement.

Split SIPs and insurance between both for better tax benefits.

Teamwork in money management improves success chances.

Prepare a Will After Building Assets

As assets grow, protect your family with proper nomination and will.

Write a simple will after acquiring investment assets.

This avoids confusion and disputes among legal heirs.

A will ensures your money reaches the right people without delay.

Build Financial Literacy Bit by Bit

Read 1–2 good articles on personal finance every week.

Watch reliable financial channels only. Avoid noise from social media.

Don’t fall for hot tips, crypto hype or overnight wealth promises.

Basic financial knowledge helps you ask right questions to planners.

Finally

You are still young and time is with you.

Starting now with clarity and commitment is key.

You don’t need big amounts. You need regularity and discipline.

Stick to the plan. Track it. Adjust when needed.

Partner with a Certified Financial Planner to create a custom plan.

You can reach your retirement goal if you act today.

Best Regards,

K. Ramalingam, MBA, CFP,

Chief Financial Planner,

www.holisticinvestment.in

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

Ans: You are doing your best in a tough position. Managing two kids, supporting family, and handling loans with no savings is not easy.

Your sense of responsibility is clear and commendable. Let us now explore your situation with care and clarity.

Current Income and Expense Structure
Monthly salary of Rs. 1.4 lakh is your only income.

Rs. 55,000 EMI towards personal loan takes a large share.

LIC premium of Rs. 10,000 adds pressure on your budget.

Term insurance is good and must be continued.

Daily household expenses, family needs, and kid's expenses further strain your income.

Sister’s marriage adds a large one-time financial need.

Land worth Rs. 39 lakhs (13 cents × Rs. 3 lakh) is a strong asset.

Immediate Family Responsibilities
You are the only earning member. This adds emotional and financial load.

You are managing your father, mother, sister, and two small children.

Your sister’s marriage is important. But your long-term security matters too.

You are planning to give 4 cents of land as dowry. This is a thoughtful move. But this also reduces your total property holding to 9 cents.

Loan Planning for Sister’s Marriage
Taking a new personal loan for marriage can be risky.

You already pay Rs. 55,000 as EMI. Adding more will reduce breathing space.

Your total EMI burden could cross 65-70% of your salary. That is unsafe.

Consider using part land sale if possible for marriage costs.

Instead of gifting land as dowry, you can offer money from land sale.

Selling 4 cents can give you Rs. 12 lakh. Use only what is needed now.

Avoid emotional overspending. Keep marriage costs within this land value.

LIC Policy Assessment
You pay Rs. 10,000 monthly. That is Rs. 1.2 lakh a year.

LIC plans offer low returns, mostly below inflation.

If it is a traditional endowment or money-back plan, returns are poor.

You already have term insurance. That gives full coverage at low cost.

Surrendering the LIC and redirecting the premium to mutual funds can help.

You can evaluate this with a Certified Financial Planner.

Steps to Create Financial Stability
1. Postpone Taking New Loan

Taking a new personal loan is not a good idea now.

First loan will end next year. That will free Rs. 55,000 monthly.

Use that free amount next year to save and plan for future needs.

Till then, try to manage marriage costs through land or other means.

2. Use Land Asset Wisely

You own 13 cents of land. Value is Rs. 39 lakh.

Instead of gifting land, sell a portion.

Keep marriage budget within 4 cents sale proceeds (Rs. 12 lakh).

Don’t sell full land now. Retain some for future children’s needs.

3. Secure Emergency Fund First

You don’t have any savings now. That is risky.

After your current loan ends, build 3 to 6 months expense buffer.

Start with a small goal like Rs. 1 lakh in a savings account.

This protects you from future financial shocks.

4. Start Mutual Fund Investments

After loan closure, start monthly SIP in mutual funds.

Begin with Rs. 5,000 monthly, and increase slowly.

Mutual funds give better long-term returns than LIC or FDs.

Use regular mutual funds through a Certified Financial Planner.

Regular funds have advisory support. Direct funds lack personal guidance.

Professional advice helps you avoid wrong funds and wrong timing.

5. Avoid Multiple Insurance Products

Don’t buy new insurance policies with investment link.

You already have term insurance. That is enough.

Avoid ULIPs and endowment plans. They mix insurance and investment poorly.

6. Provide for Children’s Future

Your kids are young. Start small SIPs for education goal.

Even Rs. 2,000 per month per child is good in the beginning.

Long term compounding will help with education costs after 15 years.

Don’t depend on real estate for children’s education.

Mutual fund-based education plans offer better flexibility and liquidity.

7. Manage Family Expectations

Speak with your family about your limitations.

Make it clear you are doing your best.

Share basic family budget with them if possible.

Setting realistic expectations avoids future stress.

8. Health Insurance is a Must

Check if your family has adequate health insurance.

Hospital bills can wipe out savings and force loans.

If you don’t have a family floater, consider it next year after loan ends.

Premium of Rs. 15,000 to Rs. 20,000 for Rs. 5 lakh coverage is manageable.

9. Use Next Year’s Cash Flow Smartly

Once your personal loan ends, you get Rs. 55,000 relief monthly.

Use Rs. 10,000 for SIPs, Rs. 5,000 for kids’ education fund.

Use Rs. 5,000 for health insurance premium.

Balance Rs. 35,000 can go towards emergency fund or house expenses.

This improves savings without changing current income.

10. Plan for Future Goals Slowly

Don’t try to do everything in one year.

Break goals into yearly steps.

First build emergency fund, then start investments.

Then prepare for children’s higher education and your retirement.

All goals need not start at once. Focus one by one.

11. Avoid High-Interest Debt

Personal loans have high interest. Avoid unless extremely necessary.

Use gold loan or land-backed loan only if cost is very low.

Else, restrict marriage budget within assets like land.

Credit card usage should be avoided for big expenses.

12. Review Your Financial Documents

Keep your term insurance nominee updated.

Ensure you have a basic will or family agreement for land.

Write down your monthly expenses and income.

This will help identify small savings areas.

Final Insights
You are under financial stress. But you are managing with strength.

Don’t rush to take new loans for emotional reasons.

Use land asset for immediate marriage needs wisely.

Once the current loan ends, build emergency fund.

Begin long-term SIPs in mutual funds.

Surrender LIC if it is non-performing and reinvest smartly.

Get help from a Certified Financial Planner to create a step-by-step plan.

Your future can be stronger with small consistent actions.

Best Regards,
K. Ramalingam, MBA, CFP,
Chief Financial Planner,
www.holisticinvestment.in
https://www.youtube.com/@HolisticInvestment

Ans: Hello Bhargav.
Surprised by the decision you taken w.r.t. VIT. In hurry, you took wrong decision. With a percentile of 99.74, your son has a high likelihood of gaining admission to one of the prestigious NITs or IIITs for the ECE branch. It is essential to engage actively in the JOSA admission process and to complete the options with great care. If the VIT administration is unresponsive by phone, please reach out via the email address provided on their website. Continue to send daily emails until you receive a response from them. If you do not receive a reply, consider visiting the office in person.
Best of luck to your son.
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Radheshyam

Ans: Hello Anurag
Here is preference order for you: (1) UPES - D (2) KIIT (3) DIT-D (4) CGC
Best of luck to your daughter.
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Radheshyam

Ans: Hello G.
If possible from all angle point of view, prefer SRM. It is not possible for us to predict about VIT admission process. Please remain in touch with VIT. You did mention about the courses offered to you either by VIT or SRM.
Best of luck to your son.
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Radheshyam

Ans: Hello Kali
Please allow her to finish the +2 grade first. You did not provide information regarding her academic performance and future aspirations. Kindly reach out to us once she has completed her +2, along with additional details. This will enable us to offer you clearer guidance. There are numerous career paths available after +2 with PCB.

Best of luck to your daughter.
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Radheshyam

Ans: Hello dear.
It is not possible for us to list the names of colleges spread across pan India. You did not mention the state also. Requesting you to google for the names of colleges. Yet with the mentioned score, you can get the admission to CSE / Electronic branch in tier 2 engineering colleges.
Best of luck to you.
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Radheshyam

Ans: Hello dear.
You did not mention category. Yet with the mentioned details, the chances are there to get admission to one of the NITs but you may have to compromise with the branch.
Best of luck to you.
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Radheshyam

Ans: Hello Vaibhali
If you fulfil all the criterion of CUET, then you are eligible to apply for NSUT.
Best of luck to you.
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Radheshyam