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Dr Ashish

Dr Ashish Sehgal  |97 Answers  |Ask -

Relationships Expert, Mind Coach - Answered on Mar 11, 2023

Ashish Sehgal has over 20 years of experience as a counsellor. He holds a doctorate in neuro linguistic programming, mental health and social welfare.He is certified in neurolinguistics by both the Society of NLP and the American Board of NLP.... more
Debajit Question by Debajit on Mar 03, 2023Hindi
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Relationship

Hello Sir/ Ma'am I am 43 in the teaching profession based in Guwahati and had a late marriage at 40 years with a teacher girl aged 5 years younger to me. We have a 2.5 years old cute male child and I love my wife.But my in-laws have insulted my parents and my wife's 3 sisters interferes too much in our personal life and strangely my wife has turned a blind eye to all these.For example recently wife's younger sister texted me "are you nuts" which is not acceptable as I am elder. Things are going for the worse now. My patience is being tested. Please help.

Ans: It's understandable that you're feeling frustrated and upset about the situation with your in-laws and your wife's sisters. It can be difficult to navigate family dynamics, especially when there are conflicts and misunderstandings involved.

First and foremost, it's important to communicate your feelings to your wife in a calm and respectful manner. Let her know how her family's behavior is affecting you and your relationship, and encourage her to work with you to establish healthy boundaries with her family.

It's also important to set clear boundaries with your in-laws and your wife's sisters. Let them know that their behavior is not acceptable and that you expect to be treated with respect. Be firm but polite, and try to avoid escalating the situation with anger or aggression.

If the situation continues to escalate or you feel like you're not able to resolve the conflicts on your own, it may be helpful to seek the guidance of a professional counselor or mediator. They can provide you with strategies for managing difficult family dynamics and help you and your wife work together to strengthen your relationship.

Remember that building strong, healthy relationships takes time and effort. It's important to be patient and persistent, and to continue to communicate openly and honestly with your wife and her family.

You may like to see similar questions and answers below

Love Guru

Love Guru   |187 Answers  |Ask -

Relationships Expert - Answered on May 13, 2022

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Relationship
Dear Love Guru, Please keep me anonymous. I am a 45 years old married male. Ours was an arranged marriage. My spouse as well as my in-laws have cynical attitude towards life. They are always abusive towards everyone at their back even. Earlier, I used to take it lightly and also tried to make my wife understand that there are good people also in the world. I also used to think that she may not be having the same attitude at least towards me but I was wrong. I always did my best whenever she was in trouble or otherwise, be it in her social, professional or medical needs but instead of acknowledging she always found some ulterior motive of mine. She acts sweet whenever she wants anything or to get things done from me otherwise she becomes abusive. Moreover, since beginning she discusses everything over phone with her mother and acts as per her guidance. I don't think that anything whatever happens in between us be it good or bad or in our house is not known to her mother. Whenever we have any quarrel she immediately calls her mother and tells her only her side of the things and uses abusive words for me. I have even requested her that even if she feels like calling her mother to lighten up, she may do it, but at least in privacy so that I should not hear the words she uses. But, now after 14 years I am getting fed up and don't feel like being with her. I am continuing because of my daughter as separation may affect the child. We no longer share any emotional or physical intimacy. I am exhausted. Please advise.  Regards, Anonymous
Ans:

Sounds like you’re tired of the marriage.

I would suggest attending some marital counselling together before you decide to finalise a split, if only for the sake of your daughter.

I understand that the child’s situation is taking precedence over yours, and that’s good parenting, but how long will you carry on like this? It’s been so many years already.

Your wife speaking to her mother about everything is understandable, but within earshot so that you hear it too is not. She obviously has ulterior motives.

Visit a competent counsellor. I’m sure you’ll be able to make headway in this situation.

..Read more

Anu

Anu Krishna  |952 Answers  |Ask -

Relationships Expert, Mind Coach - Answered on Mar 23, 2023

Asked by Anonymous - Mar 19, 2023Hindi
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Relationship
Madam, I am 61 years old , retired from Govt service an year ago. I have a problem in my family. Though my wife is a post graduate, she refused to take up any Job and wants all others including her in laws to give her money eternally. Misbehaved with my parents & sent them out of our house for their supposed conservative style and refused to allow my sisters family on a visit and quarreled with me on this ground time & again. She quarrels with me on silly issues loudly infront of kids. She reflects her mother`s attitude in dealing with my parents & relatives. Later She re-started her love affair with her ex lover . Fed up with quarrels at home and keep her away from unwarranted affairs, I decided to go abroad and took her also with me with our 2 daughters. There again, she started another illicit affair with my classmate cum colleague (whom i knew for 2 decades and i treated like a brother and was already married with kids). After 18 months of secret affair , behind me, they finally disclosed and wanted to elope leaving their families behind. Stunned by their ghastly betrayal , I sent my family back to India and also reported the matter to boss, who repatriated that Traitor back. I had to forgive my wife for sake of my Daughters who were aged 12 yrs and 9 yrs then. I am unable to come to terms with their ghastly actions though 2 decades have since passed. We sleep in separate rooms and I have no physical relation with her, ever since as our marriage is over for all purposes. I believe that mutual Trust & respect are the foundations of any marriage. Both are lost in our case. Now my daughters aged 31, 29 are Post graduates but are sitting idle at home wasting time in TV and refuse to do any job as their mother keeps telling them why should women work ?. They refuse to receive any external counselling nor willing to get married nor take up a job nor pursue any studies. They are financially dependent on me. I am now retired and live on Govt Pension. They refuse to understand the reality around them. They have no friend either in Relatives or in their college circles. What to do with their Intransigence? .
Ans: Dear Anonymous,
At 61, you look back and reflect; what choices have you made that has led you to be where you are right now?
Have those choices robbed you of your peace of mind and a better life?
If Yes, it still isn't late to rework and revisit those choices and make better ones.

But for that, this obsession with their ghastly affair must end. The more you are focused on the past, it becomes difficult to create anything beautiful for today and tomorrow. Yes, you felt hurt and were in pain, but to continue to feel the pain is a choice and that is only going to make you more bitter. Consider what is happening with your marriage; you might have to accept that this is the way it will be. If you are not happy with this, then think of what you want to do about it.

It's a good thing that you have begun to focus on your children. They seem to be in need of focus and direction. Since they are adults, it's time you gave them an ultimatum to find a job and move out of home. It sounds cruel, but at times, as a parent you need to do the right thing for your children. So, act NOW and without hesitation.
As for you, as you decide what you want to do with your marriage, involve yourself in social circles and hobbies, travel etc. It will give you a distraction and also a way to calm your mind to take decisions.

All the best!

..Read more

Anu

Anu Krishna  |952 Answers  |Ask -

Relationships Expert, Mind Coach - Answered on Nov 16, 2023

Asked by Anonymous - Nov 09, 2023Hindi
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Relationship
Hi Anu...i hv been reading ur expertise to solve the issues of people and am really impressed. We have been married for 19years now and have a son and daughter .From the start of the marriage my wife have been inclined towards her mother and her family paying less or no heed to us. Circumstances were also favorable to her and she always got the opportunity to stay close and visit her parents often which i did not mind.We lived in Mumbai and she is from Chennai.After marriage my mom-in-law used to continuosly interfere into our lives by calling her and she used to act as per her suggestions only which led to problems as she was a puppet in the hands of my Mom-in-law. Moreover since my mom-in-law was not in good health my wife tried not to over rule as she did not want her mom to feel sick as she doesnt like to be over ruled or by pass failing which she goes on hunger strike and stop taking tablets spoiling her own health. Due to this reason everybody has been appeasing her.Initially i thought to ignore but slowly it started to affect my family as well as my wife started to see things thru my mom-in-laws perspective and find faults in everything. We shifted to overseas to stay away from all these and we really had a good life for 10 years there but since i lost job during covid i had to shift base to India for my son's education but she chose to stay back there with my daughter as she is working there.I too felt that let her spend some time so that i could settle things in India and call her but it is more than 2 years now and she refuses to come back and dont even care for us and neither call us as family. I tried to involve my in-laws to convince her but they are also playing a diplomatic game and doesnt want to go against their daughter's wish.Due to this attitude of my mom-in-law their own daughter-in-laws have been staying away and since my in-laws stay alone my wife feels that she is the only support system for her parents but it has come on my life's sacrifice. She has been ignoring us and even i kept moving for the sake of my family and children instead of respecting my feelings she has become more adamant now.Her brother is also seperated from her wife and he also looks forward for a support system from my daughter and my wife and they seem close ignoring myself and my son.We have been trying to convince her thru all means but she is caring. Even i feel that it is futile to force someone into relationship but she unknowingly spoiling my family and deprieve my son the mother;s love and also depreive my daughter from affection and love.Due to this my son has also stopped expecting from her and my daughter treats me as a stranger due to long distance. Pls suggest the way forward. Shud i wait for things to improve or leave as it is.I am 47 now and she is 45..told her that let us enjoy the best things in life rather than regretting later but she does not understand.
Ans: Dear Anonymous,
Logic does not appeal to your wife!
What can you do with someone who is adamant about ruining her own family life? It's purely clouded judgement on her part on what to do and not!
With more people dependent on your wife for support, she has found a way of moving even more away from you...what I do not understand is: how is she able to do that to your son?

Either the two of you talk this out and take firm decisions OR accept that this is how it's going to be...sooner or later, she will realize what is happening and will become more aware of her priorities. But, being where you are is painful and it will stress you even more...So, find a way to talk things out is a step that you can take NOW!

Impress upon her as to how important it is keep the family together as a unit for the children to grow in a healthy manner and also how much this time investment will help the two of you as a couple.

All the best!

..Read more

Kanchan

Kanchan Rai  |237 Answers  |Ask -

Relationships Expert, Mind Coach - Answered on Mar 06, 2024

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Relationship
I have been married for 23 years and father of 3 children. My age gap with my wife is 11 yrs. I have been helping my in-laws for the last 13 years financially every month and also additional medical costs. I am a single breadwinner and i earn a good income but unable to save much as my wife dont have any economic sense. secondly, she is a highly depressed woman and always threatens me of suicide or shall leave home scaring my children who are around 16 yrs of age and disturbing their studies. even a small counter point she will take it seriously and shout at me for a very long and will make all sorts of threats. I am fed up with this type of relationship with her and I am helpless as my children have another 5 yrs to go to reach adulthood. She spends too much not on luxuries but unnecessary expenses and social costs like gifts to friends and relatives and spends a lot of time for temple or pooja activities with addtional expenses.
Ans: Dear KKR
It's evident that you're dealing with a significant amount of stress and emotional strain due to your wife's behavior and financial situation. It's important to establish clear boundaries in your relationship with your wife. Communicate your concerns about her behavior and the impact it's having on you and your children. Let her know that threatening suicide or leaving home is not a healthy or productive way to resolve conflicts, and express your willingness to support her in seeking help and finding healthier ways to cope Consider sitting down with your wife to have an open and honest conversation about your financial situation and the importance of budgeting and saving for the future. Explore ways to track expenses, prioritize needs over wants, and work together to set financial goals that align with your family's long-term objectives. Consider consulting with a legal or financial advisor to explore options for protecting your assets and securing your financial future, especially if you're concerned about your wife's spending habits and the impact it may have on your financial stability. It's important to remember that you're not alone in dealing with these challenges, and there are resources and support available to help you navigate this difficult time. Reach out to trusted friends, family members, or professionals for guidance and support, and prioritize your own well-being and the well-being of your children as you work towards finding solutions to your current situation.

..Read more

Anu

Anu Krishna  |952 Answers  |Ask -

Relationships Expert, Mind Coach - Answered on Apr 09, 2024

Asked by Anonymous - Apr 08, 2024Hindi
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Relationship
My wife got posted in distant place 10 years back. I had to ask for help from my inlaws as our child was very young. They started to live with her. After 1 year she got transferred back to the place where I was living. She got a flat from the company and we started to live together. Since then my inlaws are also staying with us. They purchased another flat nearby but are not willing to move there. Now, the problem is that whenever me and my wife have a quarrel she just stops talking and starts to take decisions in consultation with my inlaws. I am completely out of the loop in these circumstances. Over the years my relationship with inlaws has gone sour and quarrels with wife have been lasting longer (upto 2 months). My inlaws are otherwise well behaved but their presence somehow is hindering the process of natural reconciliation between me and my spouse or I am perceiving the situation incorrectly. Please guide
Ans: Dear Anonymous,
What you all have done is jumped impulsively into one situation, made it comfortable asking people to help and then jumped back into the original situation and not knowing how to ask the same people to stay away!
Your wife has to grow out of her parents being around and you have to understand that your in-laws have got used to stepping in while you were away.
It's about time that you and your wife had a mature conversation on how to manage your family yourselves and be responsible for raising your child. But do remember to deal with your in-laws carefully. After all, they gracefully kept their lives on hold to help your wife and your child. Without hurting their sentiments, you are going to have to convey to them that you are thankful for what they have done for you BUT now you would like to be there for your family. Initially, this will hurt them and your wife, but anymore of this game will pull you and wife away from one another. So, they do need to move out...
You are not cutting strings but simply loosening the grip it currently has which is unhealthy for your marriage. Hope that your wife also understands this which means she will put you to test and in her mind or vocally compare what you bring to the table and how her parents supported her. Bear with it and as the two of you work together in putting the family back together, she will eventually understand that this is for the best.

All the best!

..Read more

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Nayagam P

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Nayagam P

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Career Counsellor - Answered on Jun 15, 2024

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Nayagam P

Nayagam P P  |364 Answers  |Ask -

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Hello sir Is it ok to choose mechanical engineering from Rvce banglore or CSE from NMIMS shirpur .
Ans: Divya, prefer CSE over Mechanical as far as Stream is concerned (more suitable for girls) though Mechanical Engineering is also a good Stream. Secondly, if you are more interested in CSE, compared to Mechanical, it is better to go for NMIMS. Your interest also matters for the next 4-years. Whatever Institute / University & Branch you choose, you should keep upgrading your skills from your 1st year itself till his Campus Placement during his last year, from LinkedIn, Coursera, NPTEL, Internshala etc. and / or any other online platforms, recommended by your College Faculties, to be COMPETENT among other Students.

All The BEST for your Bright Future, Divya.

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Ramalingam

Ramalingam Kalirajan  |3728 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on Jun 15, 2024

Money
Monthly VPF 25k, NPS 15k MF 30k is good
Ans: Evaluating Your Investment Strategy
Your current investment strategy of Voluntary Provident Fund (VPF) Rs 25,000, National Pension System (NPS) Rs 15,000, and Mutual Funds (MF) Rs 30,000 per month is a solid approach. It's important to assess this strategy comprehensively to ensure it aligns with your financial goals and risk tolerance.

Voluntary Provident Fund (VPF)
Security and Tax Benefits
Investing Rs 25,000 per month in VPF offers high security and tax benefits. VPF is an extension of the Employees' Provident Fund (EPF), allowing you to contribute more voluntarily. The returns are usually fixed and risk-free, making it an excellent choice for conservative investors.

Long-term Wealth Accumulation
VPF is suitable for long-term wealth accumulation. The compounding effect over the years can significantly grow your corpus, especially when combined with employer contributions. This ensures a substantial retirement fund, which is crucial for maintaining your lifestyle post-retirement.

Limited Liquidity
However, VPF has limited liquidity. Withdrawals are restricted, and premature withdrawals can incur penalties. This makes VPF less suitable for those who might need quick access to their funds. It’s important to balance VPF with other more liquid investments.

National Pension System (NPS)
Retirement-focused Investment
Allocating Rs 15,000 per month to NPS is a prudent choice for retirement planning. NPS is a government-sponsored pension scheme that offers a mix of equity, corporate bonds, and government securities. This diversification reduces risk and enhances returns over the long term.

Tax Advantages
NPS provides additional tax benefits under Section 80CCD(1B), over and above the Rs 1.5 lakh limit under Section 80C. This can lead to significant tax savings, making NPS a tax-efficient investment option.

Annuity Requirement
One notable feature of NPS is the mandatory annuity purchase upon maturity. While this ensures a steady income stream post-retirement, it can limit the lump sum availability. This is something to consider if you prefer having more control over your retirement corpus.

Mutual Funds (MF)
Diversification and Growth Potential
Investing Rs 30,000 per month in Mutual Funds offers the benefit of diversification and higher growth potential. Mutual Funds pool money from various investors to invest in equities, bonds, and other securities. This spreads risk and increases the chance of higher returns.

Actively Managed Funds Over Index Funds
Actively managed funds, as opposed to index funds, provide professional fund management aiming to outperform market indices. These funds adapt to market conditions, aiming to deliver superior returns. This can be more beneficial than passively tracking an index, which may not always capture market opportunities.

Regular Funds Over Direct Funds
Regular funds, purchased through a Certified Financial Planner (CFP), come with advisory support, making them a better choice than direct funds. A CFP helps you navigate market complexities, offers personalized advice, and ensures your investments align with your financial goals. This professional guidance often outweighs the slightly higher expense ratios of regular funds.

Flexibility and Liquidity
Mutual Funds offer flexibility and liquidity, allowing you to redeem your investments at any time without significant penalties. This feature makes them an ideal component of your investment portfolio, ensuring you have access to funds when needed.

Comprehensive Financial Planning
Balancing Risk and Return
Your current allocation balances risk and return effectively. VPF provides safety and guaranteed returns, NPS offers a balanced approach with tax benefits, and Mutual Funds enhance growth potential through market participation. This diversification reduces overall portfolio risk while aiming for optimal returns.

Aligning with Financial Goals
It's crucial to align your investments with your financial goals. Regularly review your portfolio to ensure it meets your short-term, medium-term, and long-term objectives. Adjustments may be necessary as your life circumstances and financial goals evolve.

Emergency Fund
While your investment strategy is robust, ensure you have an emergency fund. An emergency fund covers unexpected expenses, preventing you from dipping into your long-term investments. Typically, an emergency fund should cover 6-12 months of living expenses.

Health Insurance
Adequate health insurance is another essential component. Health emergencies can deplete your savings quickly. Having comprehensive health insurance protects your finances and provides peace of mind.

Risk Management and Contingency Planning
Evaluating Risk Tolerance
Understanding your risk tolerance is key. Your investments should match your comfort level with risk. If market fluctuations cause anxiety, you might need a more conservative approach. Conversely, if you can withstand volatility for higher returns, more aggressive investments may be suitable.

Regular Portfolio Review
Regularly reviewing your portfolio ensures it stays aligned with your goals and risk tolerance. Market conditions change, and so should your investment strategy. A Certified Financial Planner can assist in rebalancing your portfolio to maintain the desired risk-return profile.

Contingency Planning
Have a contingency plan for unforeseen events like job loss, medical emergencies, or other financial setbacks. This includes maintaining an emergency fund and having adequate insurance coverage. Contingency planning protects your long-term investments and financial stability.

Tax Planning
Maximizing Tax Benefits
Your current investments in VPF and NPS provide significant tax benefits. Ensure you are fully utilizing these benefits to reduce your taxable income. Combining these with tax-efficient Mutual Funds can optimize your tax planning strategy.

Long-term Tax Efficiency
Consider the long-term tax implications of your investments. Tax-efficient growth can enhance your overall returns. A Certified Financial Planner can help structure your investments to minimize tax liability while maximizing growth potential.

Professional Guidance and Support
Role of a Certified Financial Planner
Engaging a Certified Financial Planner offers personalized financial advice tailored to your unique situation. A CFP provides insights into market trends, helps in goal setting, and ensures your investments are on track to meet your objectives. This professional support is invaluable in navigating complex financial landscapes.

Avoiding Common Pitfalls
A CFP helps you avoid common investment pitfalls, such as emotional decision-making, lack of diversification, and inadequate risk management. With expert guidance, you can make informed decisions that enhance your financial well-being.

Final Insights
Your current investment strategy of Rs 25,000 in VPF, Rs 15,000 in NPS, and Rs 30,000 in Mutual Funds is well-structured. It offers a balanced approach, combining security, tax benefits, and growth potential. Regular reviews, professional guidance, and aligning investments with your goals are crucial for long-term success. Ensure you have an emergency fund and adequate insurance to safeguard your financial future.

Best Regards,

K. Ramalingam, MBA, CFP,

Chief Financial Planner,

www.holisticinvestment.in

...Read more

Nayagam P

Nayagam P P  |364 Answers  |Ask -

Career Counsellor - Answered on Jun 15, 2024

Ramalingam

Ramalingam Kalirajan  |3728 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on Jun 15, 2024

Asked by Anonymous - Jun 15, 2024Hindi
Money
I am retired 62 years old. My PPF is non contributory and 25 years old and just accrue interest. Since I cannot contribute further I want to close my PPF and invest the proceed in hybrid mutual fund. Kindly advise.
Ans: Understanding Your Financial Landscape
At 62, retirement planning is crucial for securing your financial future. Your decision to re-evaluate your investment strategy is prudent and timely. Given that your Public Provident Fund (PPF) is 25 years old and non-contributory, it's wise to explore alternative investment options to potentially enhance your returns. However, before making any decisions, let’s delve into the intricacies of your current financial landscape and evaluate your proposed plan.

Evaluating PPF as an Investment
PPF has been a popular investment vehicle due to its tax benefits and guaranteed returns. Over the years, it has provided you with steady, risk-free interest accruals. However, since your PPF account has matured and is no longer accepting contributions, its role in your portfolio needs reassessment.

Benefits of PPF:

Tax Benefits: Interest earned and maturity proceeds are tax-free.

Safety: Government backing ensures low risk.

Decent Returns: Historically, PPF has offered moderate but stable returns.

Despite these benefits, the inability to contribute further limits its growth potential. With inflation eating into fixed-income returns, it's understandable to seek avenues offering potentially higher returns.

Exploring Hybrid Mutual Funds
Hybrid mutual funds can be a compelling option, especially for retirees seeking a balanced approach. These funds invest in a mix of equities and debt instruments, providing a blend of growth and stability. Let's explore why hybrid mutual funds could be suitable for your needs:

Advantages of Hybrid Mutual Funds:

Diversification: By investing in both equities and debt, hybrid funds spread risk across different asset classes.

Balanced Risk: Equities offer growth potential, while debt provides stability, making hybrid funds less volatile than pure equity funds.

Regular Income: Some hybrid funds are designed to offer regular dividends, which can be appealing for retirees needing periodic income.

Professional Management: These funds are managed by experienced professionals who adjust the portfolio based on market conditions.

However, not all hybrid funds are created equal. It’s important to choose funds aligned with your risk tolerance and financial goals. Working with a Certified Financial Planner can help identify the best options for your unique situation.

Disadvantages of Index Funds and Direct Funds
While you might come across suggestions for index funds or direct funds, it's crucial to understand their potential drawbacks.

Index Funds:

Limited Flexibility: Index funds passively track an index, limiting opportunities to outperform the market.

Market Dependency: They rise and fall with the market, which might not suit conservative investors seeking stability.

Direct Funds:

Lack of Guidance: Direct funds bypass intermediaries, which means you miss out on professional advice.

Complexity: Managing direct funds can be complex, especially for those unfamiliar with market dynamics.

Given these points, actively managed funds through a Certified Financial Planner offer a tailored approach, aligning investments with your specific needs and goals.

Steps to Reinvesting PPF Proceeds
Transitioning from PPF to hybrid mutual funds involves several steps to ensure a smooth and effective process:

1. Assess Financial Goals:

Determine your short-term and long-term financial objectives.

Consider your risk tolerance and income needs.

2. Liquidate PPF:

Initiate the process to close your PPF account and receive the maturity proceeds.

Ensure the funds are transferred to a savings account for easy access.

3. Consult a Certified Financial Planner:

Engage a CFP to analyze your financial situation and recommend suitable hybrid mutual funds.

Discuss your retirement income strategy and ensure alignment with your goals.

4. Select Suitable Hybrid Funds:

Choose funds with a good track record and align with your risk appetite.

Consider funds offering regular dividends if you require periodic income.

5. Monitor and Adjust:

Regularly review your portfolio's performance with your CFP.

Adjust allocations based on changing market conditions and financial needs.

Benefits of Professional Guidance
Working with a Certified Financial Planner brings several advantages:

Personalized Advice: Tailored investment strategies based on your unique financial situation.

Risk Management: Strategies to mitigate risks while aiming for growth.

Continuous Monitoring: Regular portfolio reviews and adjustments to stay on track.

Holistic Planning: Integration of all financial aspects, including tax planning and estate planning.

Balancing Growth and Stability
Hybrid mutual funds offer a balanced approach, but it's essential to strike the right balance between growth and stability. Here’s how:

Equity Component:

Invest in equity-oriented hybrid funds for potential capital appreciation.

Suitable for long-term growth but comes with higher volatility.

Debt Component:

Debt-oriented hybrid funds provide stability and regular income.

Lower risk compared to equities, but with modest returns.

Regular Reviews:

Periodic reviews ensure your portfolio remains aligned with your goals.

Adjustments based on market conditions help optimize returns.

Tax Implications
Switching investments can have tax implications. Here’s what to consider:

PPF Maturity:

Proceeds from PPF maturity are tax-free.

No immediate tax liability upon withdrawal.

Mutual Fund Investments:

Gains from hybrid funds are subject to capital gains tax.

Long-term capital gains (held over one year) are taxed at a lower rate than short-term gains.

Final Insights
Your proactive approach to reassessing your investment strategy at 62 is commendable. Moving from a matured PPF to hybrid mutual funds can offer a balanced blend of growth and stability. However, it’s essential to choose the right funds and align them with your financial goals. Engaging with a Certified Financial Planner will provide you with personalized guidance, ensuring your retirement years are financially secure and comfortable. This transition requires careful planning and regular monitoring to adapt to changing market conditions and personal needs.

Best Regards,

K. Ramalingam, MBA, CFP,

Chief Financial Planner,

www.holisticinvestment.in

...Read more

Nayagam P

Nayagam P P  |364 Answers  |Ask -

Career Counsellor - Answered on Jun 15, 2024

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Career
Hello sir My name is Paritosh Kumar and I am currently 23 years old last year I graduated in the field of science I have done BSE and I gave cat and xat but score was very low In 12th class I was preparing for Engineering entrance but I couldn't clear it in graduation I was preparing for management entrance but couldn't clear right now I have got a lot of demotivated but I know that it is my fault only I want to do something good in life and feel proud I am thinking of giving CAT exam again this year with good preparation so that I can target top management college along with I am also preparing little government exam can you give me CAT exam guidance and little bit life approach that how shell I should move from now as it is end of me coming so how should I move forward
Ans: Paritosh, You have NOT mentioned you have completed BSc in What? Anyway, here are some suggestions. (1) You will have to change your preparation strategies for your CAT & Govt. Exams (2) Analyze over your Syllabus / Questions asked in the Exams you appeared (3) Focus more on Difficult / Complicated / Tough / Lengthy / Wrongly Answered Questions & give more importance for high-weightage subjects like Maths (4) Prepare short notes, depending upon the Topics and which you think you might forget often. (5) You know a lot of things, but you will NOT remember many things. Every day, you should revise what you have studied during the day before going to bed for 30-40 minutes. (6) Also, you should keep revising frequently (weekly / bi-weekly / fortnightly the topics you have already covered, especially tough topics / subjects (7) Study for 35-45 minutes and take a 10-minutes break. If you study beyond 45 minutes, you will start losing your Concentration Power and output will be which you should avoid. (8) Prefer studying tough topics / subjects early morning when your mind will be 100% fresh (9) To keep yourself physically and mentally fit, do Yoga or Meditation or any other Physical Exercises at least for 30-minutes either morning or evening, whichever will be convenient to you. (10) You should have a minimum of 7.30 hours sleep. (11) Time Management is more important. All The BEST for your Bright Future. To know more on ‘ Careers | Education | Jobs | Professional Resume Writing | Profile Building | Salary Negotiation Skills | Building Professional LinkedIn Profile | Choosing Right School Board (State | Matriculation | CBSE | ICSE |International Board) | Student Psychological Counselling | Studying in Kota for JEE/NEET Suitable for You? | Exam Preparation Techniques (Board | Entrance & Competitive)| Job Interview Skills | Skill Upgrading | Parenting & Child Upbringing Skills | Personality Development | Soft Skills | Career Transition | Abroad Education | Education Loan (India | Abroad) | Scholarship (India | Abroad) | SOP Writing Tips’, please FOLLOW me in RediffGURU here.

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Nayagam P

Nayagam P P  |364 Answers  |Ask -

Career Counsellor - Answered on Jun 15, 2024

Asked by Anonymous - Feb 01, 2024Hindi
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Career
My daughter who is currently in 11th Standard and opted for commerce with physical education with fine arts as an extra subject, wants to pursue bachelor of designing. Please guide regarding career options after completion of this degree.
Ans: Steps now for your Daughter's Career in DESIGN after 12th. (1) From September onwards (when she will be in 12th Standard), she should start applying for minimum 5-Entrance Exams, meant for Design Courses such as, NID-DAT, UCEED, CEED, MIT-DAT, SEED & NIFT. (2) Now itself, should go through the Syllabus of All Entrance Exams and start preparing to be COMPETENT among other aspirants to get admission into one of the Top-Ranked Design Institutes in India with the desired Specializations. (3) There are multiple career options with specializations in Design field. It is advisable NOT to think over specailization now. She can decide by her 12th standard end. (4) She should shortlist minimum 5-Top Design Institutes & Top 5-Design Courses / Specializations she wishes to pursue for. (5) Immediately after the Results of Entrance Exams, please ask for best career options here in RediffGURU. We will be happy to help your daughter. All The BEST for your Daughter’s Bright Future.

To know more on ‘ Careers | Education | Jobs | Professional Resume Writing | Profile Building | Salary Negotiation Skills | Building Professional LinkedIn Profile | Choosing Right School Board (State | Matriculation | CBSE | ICSE |International Board) | Student Psychological Counselling | Studying in Kota for JEE/NEET Suitable for You? | Exam Preparation Techniques (Board | Entrance & Competitive)| Job Interview Skills | Skill Upgrading | Parenting & Child Upbringing Skills | Career Transition | Abroad Education | Education Loan (India | Abroad) | Scholarship (India | Abroad) | SOP Writing Tips’, please FOLLOW me in RediffGURU here.

Nayagam PP |
EduJob360 |
CERTIFIED Career Coach | Career Guru |
https://www.linkedin.com/in/edujob360/

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Ramalingam

Ramalingam Kalirajan  |3728 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on Jun 15, 2024

Asked by Anonymous - Jun 14, 2024Hindi
Money
Hi Sir, I am 24 year unmarried earning monthly 50k. I have my depts till December with monthly 50k consists of loan 14000 and home 22000 and my rent and monthly expenses 15k for bachelor. Still I can mangebke with this salary till December.. everything will be completed. So from next January onwards I want to invest some of the money for future scope . Could you please give me a detailed planing about it. Regards Ganesh
Ans: Dear Ganesh,

Congratulations on nearing the end of your debt obligations. It’s commendable that you are planning ahead and thinking about investing for your future. At 24, you have a great opportunity to build a strong financial foundation. Here’s a detailed plan to help you start investing from January onwards.

Understanding Your Current Financial Situation
You earn Rs 50,000 per month. Currently, your expenses are as follows:

Loan Repayment: Rs 14,000
Home Loan: Rs 22,000
Rent and Monthly Expenses: Rs 15,000
Your total monthly expenses amount to Rs 51,000. You are managing these expenses well and will clear your debts by December. From January onwards, you will have more disposable income to invest.

Building an Emergency Fund
The first step in your financial journey should be to build an emergency fund. An emergency fund provides a safety net for unexpected expenses. Aim to save at least six months’ worth of living expenses.

Target Amount: Rs 90,000 (6 x Rs 15,000)
Monthly Contribution: Set aside a portion of your income each month until you reach this target.
Keep this fund in a liquid asset, such as a savings account or a liquid mutual fund, for easy access.

Budgeting and Saving
Effective budgeting is crucial for financial stability. Here’s how you can allocate your monthly income of Rs 50,000 from January:

Savings and Investments: 30% (Rs 15,000)
Emergency Fund: 10% (Rs 5,000)
Rent and Living Expenses: 30% (Rs 15,000)
Discretionary Spending: 20% (Rs 10,000)
Insurance and Miscellaneous: 10% (Rs 5,000)
This allocation ensures you save and invest a significant portion while covering your expenses.

Investing for the Future
Investing is key to building wealth over time. Here are some investment strategies to consider:

Systematic Investment Plan (SIP)
A SIP allows you to invest a fixed amount regularly in mutual funds. It’s a disciplined way to build wealth and averages the cost of investment over time.

Equity Mutual Funds: These funds invest in stocks and offer high returns. They are suitable for long-term goals.
Debt Mutual Funds: These funds invest in fixed-income securities, providing stable returns. They balance the risk in your portfolio.
Balanced Funds: These funds invest in a mix of equities and debt, offering growth with reduced risk.
Investing through SIPs can help you achieve your financial goals while mitigating market volatility.

Advantages of Actively Managed Funds
While index funds provide diversification at low cost, actively managed funds can potentially offer higher returns. Professional fund managers actively select and manage stocks, aiming to outperform the market.

Expert Management: Fund managers have the expertise to select high-potential stocks.
Flexibility: Actively managed funds can adjust their portfolios based on market conditions.
By investing in actively managed funds through a Mutual Fund Distributor (MFD) with a Certified Financial Planner (CFP) credential, you can benefit from professional guidance and tailored investment strategies.

Insurance and Risk Management
Insurance is essential to protect your financial well-being. Here are key insurance strategies:

Health Insurance
Ensure you have adequate health insurance coverage. Medical expenses can be significant, and health insurance provides financial protection.

Coverage Amount: At least Rs 5 lakhs
Family Coverage: Consider a family floater plan if you have dependents.
Life Insurance
Life insurance is crucial if you have dependents. A term insurance plan offers high coverage at a low premium.

Coverage Amount: At least 10 times your annual income.
Term Insurance: Provides financial security to your family in case of an unforeseen event.
Tax Planning
Effective tax planning can help you save money and increase your net worth. Here are some tax-saving strategies:

Section 80C
Invest in tax-saving instruments to avail deductions under Section 80C.

Public Provident Fund (PPF): Offers attractive interest rates and tax benefits.
Equity-Linked Savings Scheme (ELSS): Mutual funds with a lock-in period of three years, offering high returns and tax benefits.
Section 80D
Claim deductions on health insurance premiums paid for yourself and your family under Section 80D.

Long-Term Financial Goals
Setting clear long-term financial goals is essential. Here are some common goals to consider:

Retirement Planning
Start investing for your retirement early to build a substantial corpus.

Employee Provident Fund (EPF): Contribute to EPF if you are employed.
National Pension System (NPS): Offers a mix of equity, corporate bonds, and government securities with tax benefits.
Purchasing a House
If you plan to buy a house, start saving for the down payment early. Consider saving in a dedicated account for this purpose.

Children’s Education
If you plan to have children, start an education fund early. Investing in child-specific plans or mutual funds can help you build a corpus for their education.

Regular Financial Review
Regularly reviewing your financial plan is crucial to stay on track to achieve your goals. Here are some tips:

Annual Review: Conduct an annual review of your financial plan. Assess your progress and make necessary adjustments.
Life Changes: Update your financial plan in response to significant life changes like marriage, birth of a child, or a change in employment.
Market Conditions: Stay informed about market conditions and adjust your investments accordingly. Consult with a Certified Financial Planner (CFP) to get professional advice.
Avoiding Common Financial Pitfalls
To achieve financial success, it's essential to avoid common financial pitfalls:

High-Interest Debt: Avoid taking on high-interest debt. It can strain your finances and reduce your ability to save and invest.
Impulse Purchases: Stick to your financial plan and avoid impulsive spending. Discipline is crucial for long-term financial success.
Ignoring Inflation: Factor in inflation when planning your savings and investments. Inflation can erode the purchasing power of your money over time.
The Benefits of Regular Funds Through MFD with CFP Credential
Investing in regular funds through a Mutual Fund Distributor (MFD) with a CFP credential offers several advantages:

Professional Guidance: Access to expert advice and personalized investment strategies.
Active Management: Benefit from the expertise of fund managers who actively select and manage stocks.
Convenience: MFDs handle the administrative aspects of your investments, making the process hassle-free.
Final Insights
Planning your finances is a continuous process that requires regular review and adjustment. By managing your expenses, saving diligently, investing wisely, and ensuring adequate insurance coverage, you can achieve your financial goals and secure your future.

Your proactive approach to financial planning is commendable. Continue to educate yourself on financial matters and seek professional advice when needed. Remember, a well-planned financial strategy can provide you with peace of mind and a secure future.

Best Regards,

K. Ramalingam, MBA, CFP,

Chief Financial Planner,

www.holisticinvestment.in

...Read more

Ramalingam

Ramalingam Kalirajan  |3728 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on Jun 15, 2024

Money
I am planning to buy a luxury car by age of 35. I am a 24 year old guy with 10 LPA package. How much should i save and invest
Ans: Purchasing a luxury car is a dream for many, and it's great that you have set a clear goal for yourself. As a 24-year-old with a package of Rs 10 LPA, you have a solid foundation to build upon. However, buying a luxury car involves significant financial planning and consideration. Let's explore how you can achieve this goal while also ensuring long-term financial stability.

Current Financial Situation and Analysis
Understanding your current financial position is the first step. You earn Rs 10 lakhs per annum, which translates to approximately Rs 83,333 per month before taxes. It's essential to evaluate your monthly expenses, savings, and investments to create a comprehensive plan.

Monthly Income: Rs 83,333 before taxes.
Monthly Expenses: Assess your fixed and variable expenses. This could include rent, utilities, groceries, transportation, entertainment, and other personal expenses.
Setting Clear Financial Goals
Having a clear financial goal is crucial. You want to buy a luxury car by the age of 35. This gives you 11 years to plan and save. However, it's important to balance this goal with other financial objectives such as retirement planning, emergency funds, and potential future expenses like a house or family.

The Concept of Delayed Gratification
A luxury car is an example of instant gratification. While it offers immediate pleasure and status, it is a depreciating asset. Its value decreases over time, and it does not contribute to your long-term wealth. Instead, focusing on delayed gratification can yield better financial results.

Understanding Depreciating Assets
Luxury cars are depreciating assets. They lose value over time, which means the money spent on them does not appreciate. Instead of spending a significant amount on a luxury car now, consider investing that money. Investments can grow over time and potentially fund your luxury car purchase without compromising your financial stability.

Benefits of Investing Early
Investing early allows your money to grow through the power of compounding. By starting now, you can build a substantial corpus over the next 11 years. This approach ensures that you have enough funds for your luxury car while also securing your financial future.

Investment Strategies for Wealth Creation
To achieve your financial goals, consider the following investment strategies:

Systematic Investment Plan (SIP): Investing in mutual funds through SIPs is a disciplined way to build wealth over time. It allows you to invest a fixed amount regularly, which helps in averaging the cost and mitigating market volatility.

Equity Mutual Funds: These funds invest in stocks and have the potential for high returns. Actively managed equity funds can outperform index funds by selecting high-potential stocks.

Debt Mutual Funds: These funds invest in fixed-income securities and provide stable returns with lower risk. They can balance your investment portfolio.

Balanced Funds: These funds invest in a mix of equities and debt, offering growth potential with reduced risk.

Budgeting and Saving for Your Goal
Creating a detailed budget is essential to track your income and expenses. This helps you identify areas where you can save more. Consider the following steps:

Monthly Savings: Set aside a specific amount each month for your luxury car fund. Automatic transfers to a dedicated savings account can help you stay disciplined.

Reduce Unnecessary Expenses: Analyze your spending habits and cut down on non-essential expenses. This can free up more money for savings and investments.

Emergency Fund: Maintain an emergency fund that covers at least six months of your expenses. This ensures financial stability in case of unexpected events.

Long-Term Financial Planning
While saving for a luxury car, it's crucial not to neglect other long-term financial goals. These include retirement planning, buying a house, and other significant expenses. Here's how you can balance multiple financial goals:

Retirement Planning: Start investing in retirement-specific instruments like EPF, PPF, and NPS. These provide long-term benefits and tax advantages.

Diversified Investments: Diversify your investment portfolio to include a mix of equities, debt, and other instruments. This helps in spreading risk and maximizing returns.

Regular Financial Review: Conduct regular reviews of your financial plan. Adjust your savings and investment strategies based on your progress and changing financial situation.

The Importance of Consulting a Certified Financial Planner
A Certified Financial Planner (CFP) can provide professional guidance tailored to your financial goals. They can help you create a comprehensive financial plan, select suitable investment options, and ensure you stay on track to achieve your objectives.

Avoiding Common Financial Pitfalls
When planning for a significant purchase like a luxury car, it's essential to avoid common financial pitfalls:

Over-Leverage: Avoid taking on too much debt. High-interest loans can strain your finances and reduce your ability to save and invest.

Impulse Purchases: Stick to your financial plan and avoid impulsive spending. This discipline is crucial for long-term financial success.

Ignoring Inflation: Factor in inflation when planning your savings and investments. Inflation can erode the purchasing power of your money over time.

Understanding the Disadvantages of Index Funds
While index funds offer low costs and diversification, they may not always outperform the market. Actively managed funds, guided by professional fund managers, can potentially provide higher returns by selecting high-performing stocks.

Benefits of Regular Funds Through MFD with CFP Credential
Investing in regular funds through a Mutual Fund Distributor (MFD) with a CFP credential offers several advantages:

Professional Guidance: Access to expert advice and personalized investment strategies.

Active Management: Benefit from the expertise of fund managers who actively select and manage stocks.

Convenience: MFDs handle the administrative aspects of your investments, making the process hassle-free.

Final Insights
Purchasing a luxury car is a significant financial decision that requires careful planning and consideration. While it represents a dream and a status symbol, it is also a depreciating asset. By focusing on delayed gratification, disciplined savings, and smart investments, you can achieve your goal without compromising your financial stability.

Start by creating a detailed budget, setting aside savings, and investing in diversified instruments. Consult a Certified Financial Planner to help you navigate your financial journey and make informed decisions. Remember, the key to financial success lies in balancing your short-term desires with long-term goals.

Best Regards,

K. Ramalingam, MBA, CFP,

Chief Financial Planner,

www.holisticinvestment.in

...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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