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Shalini

Shalini Singh  |134 Answers  |Ask -

Dating Coach - Answered on Apr 19, 2024

Shalini Singh is the founder of andwemet, an online matchmaking service for urban Indians living in India and overseas. After graduating from college as a kindergarten teacher, Singh worked at various firms specialising in marketing strategy, digital marketing and public relations before finding her niche as an entrepreneur. In 2008, she founded Galvanise PR, an independent communications and public relations. In 2019, she launched andwemet.
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Asked by Anonymous - Apr 19, 2024Hindi
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Relationship

Hello mam , we are in relationship of total 3 yrs in which long distance is for 2 years we both have their colleges in different state now question arises to our mind about future that we both no we will do job in same location where we study we we both can't compromise to go to any other states as there is less opportunity as we both are in different field this is one of the problem and other is his parents are so strict and belongs to bhramin family they don't accept intercaste marriage even he don't want to step out from his home as he want to take care of his parents .and we are very sure that we don't want to compromise our careers . So how our marriage is possible ? Should we have to leave each other prior to the day comes or is there any solution to it which we both can compromise ??

Ans: Hmmm lets simplify this, what would you tell your friend if she comes and tells you that she has met someone wonderful BUT his parents will not accept her and he will make no efforts to make it work...I am assuming you will tell her to put this relationship on hold for sometime...which means putting it on hold with no interaction, stopping all interactions - giving him space and time to think about it...do this for 6 months to 12 months, this does not mean dating someone else. Here he needs to find a solution, if he does its a win-win, if he does not then he may not be someone she may wish to be in a relationship with...and in the meantime you are likely to ask her to focus on her career. My response to your query will be on the same lines.

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Ramalingam

Ramalingam Kalirajan  |6597 Answers  |Ask -

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

Asked by Anonymous - Oct 15, 2024Hindi
Money
Hello Sir, i have gone through the below articles and thought of asking an advice and infeel.its right forum . I Have 45lac PF and 50 lack deposites , also i have verious MF 10 lackh, NPs 6+ Lakck, SBI elight scheme 10 lack, Axis I paid 5 lakh like every year 1 lakh i pay for 10 years , sbi mutual sip/insurance 6+ lakh , also , 50 lack worth of plot. My ask now, sir is it right time to buy a car worth of 27 lakhs with the down payment of 10 lakh (.which i have additional ) or am taking a risk?? I have currently home loan for 9 lakhs which i pay 25k per month ( the home property cost may be 1.2 cr) ??am not sure am.i clear with all details.. please advice sir..
Ans: Let’s first look at the assets and liabilities you currently have:

Provident Fund (PF): Rs 45 lakhs
Fixed Deposits: Rs 50 lakhs
Mutual Funds: Rs 10 lakhs
National Pension Scheme (NPS): Rs 6 lakhs
SBI Elite Scheme: Rs 10 lakhs
Axis policy: Rs 5 lakhs (paying Rs 1 lakh per year for 10 years)
SBI Mutual SIP/Insurance: Rs 6 lakhs
Plot of Land: Rs 50 lakhs
Home Loan: Rs 9 lakhs (EMI of Rs 25,000 per month)
You also mentioned that you have an additional Rs 10 lakhs which you are considering for a down payment on a new car worth Rs 27 lakhs.

This is a very good base of financial assets. Let’s assess whether buying a car right now is a wise decision based on your current financial standing and future needs.

Evaluating the Car Purchase

Buying a car is often an emotional decision, but it’s also a big financial commitment. You’re considering a down payment of Rs 10 lakhs for a car worth Rs 27 lakhs. Let’s break down the key factors:

Liquidity Impact:
You plan to use Rs 10 lakhs from your available funds for the car down payment. This amount is a significant chunk of your liquidity. Reducing your liquid cash could make it harder to cover any unexpected expenses.

EMI Commitment:
If you finance the remaining Rs 17 lakhs, your EMI could be between Rs 35,000 to Rs 40,000 per month (assuming a typical car loan tenure and interest rate). This would add to your current EMI of Rs 25,000 for the home loan, bringing your total EMI commitment to around Rs 60,000 to Rs 65,000 per month.

Total Monthly Outflow:
You may want to consider your total outflow, including living expenses, EMIs, and any other financial responsibilities. It’s crucial to ensure that your monthly cash flow can comfortably accommodate all these commitments without stretching your budget.

Asset Depreciation:
A car is a depreciating asset. Over the years, its value will decline, and it will not contribute to your wealth-building efforts. Meanwhile, your existing investments like mutual funds, PF, and NPS will continue to grow in value.

Alternative Use of Funds:
The Rs 10 lakhs down payment could alternatively be invested in a high-return investment option. Over time, this could help you achieve long-term financial goals more effectively.

Assessment of Current Loan Situation

You currently have a home loan of Rs 9 lakhs, which is manageable. The property’s value (Rs 1.2 crore) far outweighs the loan, which is positive. However, adding another loan in the form of a car EMI will increase your monthly financial burden.

At present, you are paying Rs 25,000 per month for the home loan. If you go for the car loan, the total EMI commitment will rise significantly. It’s important to ask yourself if you are comfortable with this higher commitment.

Insurance Policies: Reviewing SBI Elite Scheme and Axis Policy

Both the SBI Elite Scheme and Axis Policy require attention. These are investment-cum-insurance products, and such products often do not deliver the best returns. They also come with higher costs and offer limited flexibility in terms of withdrawals.

SBI Elite Scheme: You have Rs 10 lakhs invested here. While it may have some insurance benefits, the returns might not be competitive compared to mutual funds or other pure investment products.

Axis Policy: You are paying Rs 1 lakh annually for this policy. Over 10 years, you will have contributed Rs 10 lakhs. It’s important to check if the returns are aligned with your goals.

Consider reviewing both policies with the help of a Certified Financial Planner to assess if continuing them is beneficial. If they are underperforming, you may want to consider surrendering them and reinvesting in more flexible and higher-return instruments like mutual funds.

Asset Allocation and Diversification

You currently have a good mix of assets, including:

Fixed Deposits
Provident Fund
Mutual Funds
NPS
Real Estate
However, it’s important to ensure that your asset allocation aligns with your risk tolerance, liquidity needs, and future goals. For instance:

Fixed Deposits:
While safe, they offer lower returns compared to mutual funds or equities, especially in the long run. As inflation rises, the real returns on fixed deposits diminish.

Provident Fund and NPS:
Both these assets offer long-term growth but have limited liquidity. They are ideal for retirement planning, but you cannot rely on them for immediate needs like the car purchase.

Mutual Funds:
Your mutual fund investments of Rs 10 lakhs are valuable growth assets. However, you could review their performance and consider reallocating to more actively managed funds for better returns.

Car Purchase: Is It a Risk?

To answer your direct question: Is buying the car right now a risk? Based on the analysis, here’s what I think:

Monthly EMI Burden:
The new car EMI will significantly increase your monthly outflow. It’s essential to ensure that you can comfortably afford this without compromising your savings or future investments.

Impact on Liquidity:
The Rs 10 lakhs down payment will reduce your liquid reserves. You still have FDs, but those might be tied up for long periods or may not give the best returns if broken early.

Wealth-Building Impact:
Investing the Rs 10 lakhs in growth assets like mutual funds could help you build wealth faster. A car, being a depreciating asset, will not contribute to wealth creation.

If the car is a necessity and you have carefully assessed your cash flow, you could go ahead. But if it’s a desire that can wait, consider postponing the purchase. Instead, focus on building more liquid wealth to cover future goals like your home loan repayment or emergency needs.

Final Insights

Buying a Rs 27-lakh car is a significant financial decision. While you have a strong financial base, the added EMI burden and liquidity impact should be considered carefully.

Your existing investments are solid, but there’s room for optimization. I would recommend revisiting your insurance-cum-investment policies. A Certified Financial Planner can help review these and guide you toward better investment strategies.

Consider delaying the car purchase if it’s not urgent. Use the Rs 10 lakhs for investments that could offer better returns over time. This way, you’ll strengthen your financial position and have more flexibility for future big-ticket purchases.

In short: Evaluate your monthly cash flow and risk tolerance. If you're comfortable with the increased EMI, go ahead. But, if you feel stretched, it’s better to wait and focus on building more liquid assets.

Best Regards,

K. Ramalingam, MBA, CFP,

Chief Financial Planner,
www.holisticinvestment.in
https://www.youtube.com/@HolisticInvestment

...Read more

Ramalingam

Ramalingam Kalirajan  |6597 Answers  |Ask -

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

Money
Sir, I have a net salary of 1.73 lac per month and my age is 38. My son is 2 years old & yet to start his education. My monthly EMI stands at 1.4 lac appx. My current savings stands at: PPF - 4 lacs, MF - 6 lacs, PF - 24 lacs, NPS - 8 lacs, and liability stands at: Personal Loan - 52 Lacs & Bike Loan - 5 lacs. I am targeting to close all loans by 2029 (5 years from now). I am investing 14k monthly in the following mutual fund: Mirae Assest ELSS - 2k, Kotak Emerging Equity - 2k, Axis Small Cap - 2K, Parag Parikh Flexi Cap - 2k, Axis Midcap - 2k, Canara Robeco Bluechip Equity - 2k, Quant ELSS - 2k. I have a health insurance of 1Cr & a Term Insurance of 1Cr. My main questions to you are how can I clear my debt as early as possible & also let me know how can increase savings for my retirement and my child's education & future?
Ans: You are managing a significant loan burden. Clearing this early will offer peace of mind. Your current EMI of Rs. 1.4 lakhs per month is a large portion of your income.

To clear your personal loan and bike loan faster, follow these steps:

Prioritise High-Interest Debt: Focus on your personal loan first. Personal loans often have high-interest rates. Divert any surplus funds to repay this loan.

EMI Boost Strategy: Whenever possible, make lump-sum payments. Even if you increase your EMI slightly, it will reduce the tenure.

Minimise New Loans: Avoid taking on any new loans until you clear the existing ones.

Balance Expenses: Since your EMI is quite high, it’s important to track and reduce any unnecessary expenses. Create a budget and stick to it.

Enhancing Savings for Retirement and Child's Education

It’s wise to think of both short-term debt and long-term goals, like your retirement and your son’s education. You already have a good base of savings in PF, NPS, and mutual funds.

Increase PF and NPS Contributions: Since PF and NPS are long-term and tax-efficient, aim to gradually increase your monthly contributions. This will boost your retirement corpus.

Focus on Child’s Education: Start investing separately for your son’s education. Choose a child-focused investment plan, either through mutual funds or PPF. Avoid mixing education and retirement goals.

Systematic Savings: Consider setting up a recurring deposit or another fixed saving plan to save for short-term needs, like your son’s school fees.

Review of Mutual Fund Portfolio

You are investing Rs. 14,000 monthly in mutual funds, which is a great habit. However, let’s refine your strategy for better results.

Diversify with Caution: You are invested in several funds. While diversification is good, over-diversification may dilute your returns. Consider reducing the number of funds to focus on the best-performing ones.

Actively Managed Funds: Actively managed funds tend to outperform passive index funds. The advantage lies in the fund manager’s ability to beat the market. This is especially important in the long run.

Taxation on Gains: When you sell equity mutual funds, be aware of capital gains taxes. LTCG (Long-Term Capital Gains) above Rs 1.25 lakh are taxed at 12.5%. STCG (Short-Term Capital Gains) is taxed at 20%. Ensure you plan your redemptions wisely to minimise tax liabilities.

Reassessing Debt-to-Investment Balance

Currently, your loan EMIs are significantly higher than your investments. It is crucial to realign this balance over the next five years. Here’s how you can gradually shift the focus from loan repayment to investment:

Debt-Free Timeline: You aim to be debt-free by 2029. It’s realistic, but you should consider accelerating this process. Once you clear your bike loan, redirect those funds toward the personal loan.

Increase SIPs Over Time: As you repay your loans, free up more funds for savings. Gradually increase your SIP amounts. Investing regularly will allow you to take advantage of market growth over time.

Build Emergency Fund: Since your EMIs are high, ensure you have at least 6 months of expenses saved in a liquid fund. This will protect you from unforeseen events.

Life and Health Insurance Adequacy

You have Rs 1 crore health and term insurance cover. That’s commendable for a 38-year-old with a young child.

Review Insurance Coverage: Ensure that your term plan covers your family’s living expenses, education costs, and liabilities. Ideally, your term insurance should be at least 10-15 times your annual income.

Health Insurance Adequacy: A Rs 1 crore health cover is good. Keep reviewing it periodically, as healthcare costs can rise.

Boosting Retirement Savings

Given your age of 38, you still have a good 20-25 years to build a robust retirement fund. Focus on these areas:

PPF Contributions: Your PPF balance stands at Rs 4 lakhs. Continue contributing to it, as it provides guaranteed, tax-free returns.

NPS Contributions: You have Rs 8 lakhs in NPS, which is a strong base for retirement. NPS provides tax benefits and is structured for retirement savings.

Mutual Fund Portfolio: As mentioned earlier, streamline your mutual funds. Continue increasing your SIP contributions. Equity funds will help you achieve long-term growth for retirement.

Final Insights

Your financial planning is on the right track. But there are opportunities to accelerate debt repayment, optimise savings, and fine-tune your investments. Focus on a balance between loan repayment and building a solid financial future for yourself and your family.

Here’s a summary of the steps ahead:

Prioritise high-interest loan repayments, especially the personal loan.

Continue investing in your PF, NPS, and PPF for long-term growth.

Increase your SIP contributions once your debt is under control.

Build a separate education fund for your son’s future needs.

By doing this, you can achieve your debt-free timeline, build savings for retirement, and secure your son’s education.

Best Regards,

K. Ramalingam, MBA, CFP,

Chief Financial Planner,

www.holisticinvestment.in

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

...Read more

Dr Chandrakant

Dr Chandrakant Lahariya  |2 Answers  |Ask -

Diabetologist, Consultant Physician, Vaccine Expert - Answered on Oct 15, 2024

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Health
Hello ! My fasting sugar is 140 and after BF sugar goes to 140-210. I am taking metformin sr.500 mg in Morning and 1000 mg at Night. Still not stable. Please advise what else to do. I do brisk walking and jogging and diet is mostly fruits and vegetables.
Ans: The level of blood sugar you have indicated are suggestive of diabetes mellitus type 2 and the metformin you are taking is clearly insufficient.

Ofcourse, need to have more dietary modifications and increased physical activity. Get body weight within normal range (please see previous answer if you wish to understand more).

Please do following:
1. A comprehensive blood test. Specially when people have diabetes, there are chances of high Bp, deranged lipid profile. and other blood parameter changes.
2. Please get HbA1c done along with fasting adn 2 hr after breakfast blood sugar levels.
3. Your medications need to be increased as currently, the sugar levels are high. There is a concept called, legacy effect. which essentially mean a tight and early control in blood sugar results in better diabetes outcome in long run. The Hba1c should be less than 7, preferably around 6.5% to reduce the possibility of macro and microvascualr complications of diabetes.
4. Do charting of your blood sugar level for some time, with Glucometer. May consider CGMs (Continuous Glucose monitoring), which provides 14 day reading for every five minutes of sugar level in once body. This may help a physician to suitably modifiy your medication.
5. Visit a physician with above set of information.

Best wishes,
PS: In such queries, mentioning age, duration of diabetes, BMI/Body Fat, height, weight and BP can help in providing more personalised information.

...Read more

Milind

Milind Vadjikar  |408 Answers  |Ask -

Insurance, Stocks, MF, PF Expert - Answered on Oct 15, 2024

Milind

Milind Vadjikar  |408 Answers  |Ask -

Insurance, Stocks, MF, PF Expert - Answered on Oct 15, 2024

Asked by Anonymous - Oct 12, 2024Hindi
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Money
Hi Sir, I am 34 and working in software industry..My income is around 4 lakh per month from salary..I have 2 crore in mf,25 lakh in stock / crypto,1.05 cr in FD,35 lakh in pf..I want to retire early .I My monthly expenditure is around 75k / month.I have rental and agricultural income of 50k.. I don't have any ongoing loan.. How soon can I plan my retirement what should be corpus amount to live my life comfortably and beat the inflation . Thanks
Ans: Hello;

Please consider following aspects before considering retirement from 9 to 5 regular job:

1. Do you have your own house?
2. Do you have a family to support, if yes the expenses will multiply manifold apart from inflationary hikes, are you prepared to handle this?
3. What alternate vocation or profession you plan to pursue in lieu of regular job so as to keep yourself engaged, not necessarily for money, but to keep mind and body occupied towards a passion/profession?

You need to seek answers to these for your own contentment.

Now coming back to your query, you may do a monthly sip of 2.5 L in pure equity mutual fund. This may yield you a corpus will of 2.73 Cr after 6 years.

The existing MF corpus(2 Cr) will grow into a sum of 4.16 Cr in 6 years. (13% return assumed on all pure equity MF investments)

PF corpus of 35 L will grow into a sum of 55.54 L in 6 years. 8% return considered.

The stock/crypto corpus may grow into a sum of 41.93 L in 6 years. 9% return assumed.

FD may grow to 1.58 Cr after 6 years. 7%return assumed.

So cumulative corpus after 6 years will be: 273+416+158+41.93+55.54=~9.44 Cr.

This corpus if you invest in an equity savings type mutual fund(low to moderate risk)and do an SWP at the rate 3% per year it will translate into post tax monthly income of 1.65 L.

Agri/rental income will be a bonus.

I hope you have sufficient term life cover with suitable riders and also health care cover for yourself and family.

*Investments in mutual funds are subject to market risks. Please read all scheme related documents carefully before investing.

...Read more

Dr Chandrakant

Dr Chandrakant Lahariya  |2 Answers  |Ask -

Diabetologist, Consultant Physician, Vaccine Expert - Answered on Oct 15, 2024

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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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