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Should I Let My Engineer Husband Quit His Job Again to Trade Stocks?

Kanchan

Kanchan Rai  |586 Answers  |Ask -

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

Kanchan Rai has 10 years of experience in therapy, nurturing soft skills and leadership coaching. She is the founder of the Let Us Talk Foundation, which offers mindfulness workshops to help people stay emotionally and mentally healthy.
Rai has a degree in leadership development and customer centricity from Harvard Business School, Boston. She is an internationally certified coach from the International Coaching Federation, a global organisation in professional coaching.... more
Asked by Anonymous - Jul 16, 2024Hindi
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Relationship

My husband is an engineer. He was working in a reputed company for many years. He left the job due to over work load and wanted to explore other work options or entrepreneurship. So he took a gap of 3 years. In his gap he was not able to do any business bcoz all the business ideas either had too much of hassle or required lot of investment, so, he learned trading in NSE he earned average income with it, enough to run the house. After 3 years of gap he managed to land a job again in a reputed company but he again says that work load is high and wishes to leave and get back to trading. I am teacher with an average salary. We have a 10 year old daughter. Kindly guide what can I do in this situation? How can I make him understand that he needs to work and trading is not a reliable source of income.

Ans: I understand that this situation is stressful and complex. The key here is open, compassionate communication and realistic financial planning.

Firstly, have an honest and empathetic conversation with your husband. Express your concerns about financial stability and the importance of having a reliable source of income, especially with a 10-year-old daughter to consider. Make sure to listen to his feelings about the job workload and his desire to return to trading. It's essential that both of you feel heard and understood.

Next, consider working together on a detailed financial plan. Look at your current expenses, savings, and future financial goals. This can help both of you see the bigger picture and understand the importance of a stable income. You could even consult with a financial advisor to get an objective perspective and professional advice.

Encourage him to explore ways to manage his workload or find a job that offers better work-life balance while still providing financial security. Perhaps there's an opportunity for him to negotiate his current role or look for a position that aligns more with his skills and interests without the same level of stress.

It might also be helpful to set up a trial period for trading, where he can pursue it on the side while still maintaining his job. This way, he can assess the viability of trading as a full-time income source without putting your family's financial stability at risk.

Remember, it's about finding a balance between his professional fulfillment and your family's financial well-being. By working together and supporting each other, you can navigate this challenging situation and come to a decision that works for both of you.

You may like to see similar questions and answers below

Anu

Anu Krishna  |1604 Answers  |Ask -

Relationships Expert, Mind Coach - Answered on Sep 28, 2022

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Relationship
Dear Anu, I am a housewife with two kids, younger one is 3 years old. I used to be working before the birth of my second child. I can't join back the job as we are nuclear family and husband is busy whole day with his work. I have to take care of the house and kids almost full day. Sometimes I’m frustrated and irritated. I gave talked about this to my husband but not much respite. He says 'I’m doing my job to earn. You do your job to look after house.' Don't know what to do.
Ans:

Dear PS,

Typical nuclear family with very little family support relies solely on the mother being the caregiver and this can result in a lot of frustrations. Understood!

But what exactly are you trying to do fighting the situation knowing that things might be the same for a few years down the line till the children grow a little older? Are you planning on being frustrated for all these years?

Also, someone needs to give your husband a talk on these gender specific remarks and pushing the job of the home to you.

Maybe he didn’t mean it the way it sounded, but well…

In the digital world, there is enough and more to do to use the skills that a person has. So why not explore, a work-from-home part time option?

Depending on what your expertise is and the time that you can give to the work from home option, why don’t you focus on searching for this?

This will require an amazing time management and organization skills on your part, so you are able to give it at least 3-4 hours a day.

This will not only keep you occupied and financially stronger, it will also give you a sense of direction and purpose which is what is currently lacking.

Also, if you have an option of a ‘nanny’ for even two hours during the day when the children can be kept busy, you can even have some time for yourself which will re-energize you.

Caring for two small children is no mean feat and make sure when you discuss the work-from-home option (If you choose this), with your husband, you emphasize how important it is for you along with managing the home.

The commitment ‘to do something for yourself’ will be the focus of your discussion and please do something before your frustrations start seeping out and get onto the kids which might eventually happen.

First, be happy yourself to nurture your home and family.

Step Up…All the best!

..Read more

Anu

Anu Krishna  |1604 Answers  |Ask -

Relationships Expert, Mind Coach - Answered on May 14, 2024

Asked by Anonymous - May 08, 2024Hindi
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Relationship
Hii.. i feel totally stucked in life...not only me my husband too feel helpless. We both don't know what to do in such situation. The problem is we have a son who is 22 yrs old, doesn't want to work; wants to stay at home on pretext of preparing for any exam. He is not even studying at home. We can clearly see that but he refuses to go out for work whether at his own shop or for a job. We have given him enough time to stay at home for studies but every year there is different exam for which he wants to prepare. He doesn't study sincerely at home. At least 5-6 years have passed. He's not even attending his regular college for studies. All he wants is to stay at home. He refuses to step out from his comfort zone and has become too aggressive and abusive. Please guide us what we can do to motivate him to work. Thank you.
Ans: Dear Anonymous,
Clearly your son has gotten used to all the comforts at home. What is the necessity to do anything?
Also, I suspect that writing one exam or the other is a way of escaping from what he truly wants to do in life. He is unclear and afraid to face what he might want and afraid that he might fail. This fear of failure will simply make him write one exam after the other in the hope that he does not have to decide what he needs to do.
Kindly take him to a Career Counselor who can evaluate his strength areas and suggest an academic course that is suitable for him. After which seek an appointment with a professional who can streamline his thinking and put him on a goal-focused path. This might help him.

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

..Read more

Ramalingam

Ramalingam Kalirajan  |8477 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on Jul 24, 2024

Asked by Anonymous - Jul 07, 2024Hindi
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Money
Dear sir, My husband retaired from tyre factory He earned 1 Lack permonthly. We spend money for children education and we bought one house. Now my husband pension just 4000 and my salary 50k only. My two son are studying. How i will manage current economic situation. After retairement at the age what job he can do? Please give suggestion.
Ans: Current Financial Situation Analysis
Let's assess your current financial situation and explore potential solutions to manage it better.

Income Sources:

Your husband's pension: Rs 4,000
Your salary: Rs 50,000
Major Expenses:

Children's education
Household expenses
Housing costs
It seems that your combined income is Rs 54,000 per month. However, managing with this amount, given your expenses, is challenging.

Immediate Financial Management Steps
Budgeting:

Create a detailed budget. Include all expenses: education, groceries, utilities, and housing.
Track spending and identify areas to cut costs.
Emergency Fund:

Maintain an emergency fund. It should cover at least 3-6 months of expenses.
If you don’t have one, start building it slowly by saving a small amount each month.
Debt Management:

Prioritize paying off high-interest debts first.
Avoid taking on new debt if possible.
Increasing Income
Part-Time Jobs:

Your husband can explore part-time or freelance work. Options include consulting, tutoring, or clerical work.
Websites like Freelancer, Upwork, or local classifieds can offer opportunities.
Skill Development:

Invest in courses or training programs to enhance skills.
This can open up new job opportunities with better pay.
Utilize Assets:

If you have assets like property or gold, consider renting out space or selling non-essential items.
Education Planning
Scholarships and Grants:

Look for scholarships and grants for your children’s education. Many organizations offer financial aid based on merit or need.
Research online or consult school advisors for available options.
Education Loans:

Consider taking education loans if necessary. Choose options with favorable interest rates and repayment terms.
Investment Strategy
Mutual Funds:

Invest in mutual funds through a Certified Financial Planner. They provide professional management and diversify risk.
Opt for regular funds rather than direct funds. Regular funds offer professional advice and support from a CFP.
Avoid Real Estate Investment:

Given your current financial situation, avoid investing in real estate. It requires significant capital and is not liquid.
Actively Managed Funds:

Prefer actively managed funds over index funds. Actively managed funds have the potential for higher returns as they are professionally managed to outperform the market.
Long-Term Planning
Retirement Planning:

Ensure you are saving for retirement. Invest in options like PPF or NPS.
Consult a Certified Financial Planner to create a retirement plan tailored to your needs.
Insurance:

Ensure you have adequate life and health insurance coverage.
It protects against unforeseen circumstances and reduces financial burden during emergencies.
Final Insights
Managing your current economic situation requires careful planning and disciplined financial management.

Focus on budgeting, increasing income, and making informed investment choices. Seek scholarships for education and invest in mutual funds with professional guidance.

Your husband can explore part-time job opportunities to supplement the household income.

Best Regards,

K. Ramalingam, MBA, CFP,

Chief Financial Planner,

www.holisticinvestment.in

..Read more

Latest Questions
Ramalingam

Ramalingam Kalirajan  |8477 Answers  |Ask -

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

Asked by Anonymous - May 19, 2025
Money
I'm a fresher who currently got placed into an NBFC for 25k salary in hand. How can I multiply this through investments and savings. Please suggest me some. Thank you in advance
Ans: Absolutely delighted to hear that you’ve landed a job. Your first step is a big one. Starting at Rs. 25,000 in hand, you’re not just earning—you’re building a future. Let’s break this down into clear action steps. My aim is to guide you like a Certified Financial Planner would, with a 360-degree plan for savings and smart investments.

I’ll help you understand what to do with your income, how to manage your spending, and how to multiply your savings over time.

Let’s begin with the most important areas.

Understand Your Cash Flow
First, track where every rupee goes.

Use a simple notebook or a mobile app.

Classify expenses: needs, wants, and savings.

Always aim to save before you spend.

Try to save 30% of your income each month.

That means at least Rs. 7,500 should be saved.

Build Your Emergency Fund
Start a separate bank savings account.

Keep Rs. 15,000 to Rs. 30,000 for emergencies.

This is not for shopping or vacation.

Only use it for medical or job-related problems.

Add a fixed amount monthly until you reach your goal.

Get Health Insurance Immediately
Your employer may offer one, but it is not enough.

Buy a personal health cover worth Rs. 3 lakh to Rs. 5 lakh.

Premiums are low for your age.

It protects your savings during illness.

Always disclose everything honestly while applying.

Term Insurance is Not Urgent Yet
You are single and just starting.

So, no need for term insurance now.

Take it only when you have dependents.

Focus instead on building assets and savings.

Automate Your Savings Process
Open a separate savings bank account for investments.

Set auto-transfer every month after salary credit.

This creates financial discipline automatically.

Don’t mix this with your spending account.

Treat savings as your monthly bill.

Start SIPs in Actively Managed Mutual Funds
Choose regular plans via a Certified Financial Planner.

They guide you with experience and research.

Don’t go for direct funds without guidance.

Direct funds need time, study, and ongoing monitoring.

Regular plans give you ongoing personalised support.

A CFP and MFD can help with fund switching also.

Benefits of Actively Managed Mutual Funds
Fund managers take decisions after market study.

Better for new investors like you.

Helps avoid sudden losses due to inexperience.

Higher chances of outperformance in long term.

Active funds adapt to market changes quickly.

Stay Away From Index Funds
Index funds follow market, no fund manager involved.

In bad markets, they also fall badly.

No one to protect or shift to safer assets.

No flexibility in difficult times.

Active funds manage risk better than index funds.

Choose SIPs with Proper Goal-Setting
Don't invest just for returns.

Invest with a goal in mind.

Examples: buy laptop, travel, marriage, house fund.

Assign timelines for each goal.

Choose funds based on time horizon and risk level.

Ideal Portfolio Mix for You
Equity mutual funds: Long-term wealth creation.

Hybrid mutual funds: Balance between growth and safety.

Recurring deposit or FD: For short-term needs.

Keep 2 or 3 funds only. Not more.

Don’t invest in random funds from friends or apps.

Avoid These Investment Mistakes
Don’t buy insurance for investment.

Don’t invest in LIC endowment or ULIPs.

They give low return and high lock-in.

No flexibility, no transparency.

Avoid chit funds and schemes from unknown sources.

Regularly Review Your Progress
Every 6 months, check your investments.

See if your savings rate is increasing.

Track how much emergency fund you have built.

Check if goals are getting closer.

A CFP can help you monitor and correct your path.

Build Skills to Increase Income
Savings alone won’t create wealth fast.

Improve your career skills also.

Take affordable online courses.

Ask for projects at work, build a reputation.

Better pay will give you higher savings later.

Budgeting Tips That Actually Work
Follow 50-30-20 rule: 50% needs, 30% wants, 20% savings.

For now, you may need to reverse it: 50% savings.

Use UPI apps for expense control alerts.

Don’t keep too much cash in hand.

Withdraw once a week, not daily.

Social Media Influencers are Not Financial Planners
Don’t follow random advice online.

Their needs are not your needs.

Your plan should match your goals, not theirs.

Stick to your savings plan strictly.

Professional advice is always better.

Avoid Loan Traps at Early Stage
Don’t take EMI cards or credit cards yet.

Start with a debit card linked to your bank.

Avoid monthly subscriptions that you forget.

Keep zero debt as long as possible.

Loans reduce your ability to save and invest.

Benefits of Investing via MFD with CFP Support
You get advice suited to your income level.

Fund selection is personalised.

Help is given for SIP starting, changes, withdrawals.

They help with taxes and switching too.

Your long-term success becomes their priority.

Don’t Fall for High Returns Promises
If someone offers 20% return, it’s risky.

Stable 10–12% return over years is good.

Compound growth needs patience.

Shortcuts often lead to losses.

Stay steady and grow slowly but surely.

Think Long Term, Act Monthly
Rs. 2,000 monthly SIP grows big in few years.

You will learn patience through SIP investing.

Don’t stop SIPs if market falls.

Use market fall as chance to grow faster.

Keep SIPs running without panic.

Protect Yourself from Tax Shocks Later
Equity mutual funds give tax benefit on long term.

LTCG above Rs. 1.25 lakh is taxed at 12.5%.

STCG is taxed at 20%.

For debt funds, all gains are taxed as per your slab.

So plan redemption properly.

Financial Independence Should Be Your Goal
Try to reach a stage where money works for you.

That needs slow and steady investing.

Once you reach Rs. 5 lakh corpus, add more SIPs.

With every hike, increase SIP by Rs. 500 to Rs. 1,000.

Build wealth step by step.

Stay Consistent, Not Perfect
You may skip saving in one month. That’s okay.

Don’t stop. Resume next month.

Track your progress, not your mistakes.

Stay focused on long term.

Small savings add up to big money later.

Finally
You have made a wonderful beginning.

Saving at Rs. 25,000 salary shows maturity.

With consistency, Rs. 7,500 monthly savings will create big wealth.

Stick to professionally managed mutual funds.

Don’t try shortcuts or risky bets.

Get support from a trusted Certified Financial Planner.

Learn, earn, save, invest, and grow at your own pace.

Best Regards,

K. Ramalingam, MBA, CFP,

Chief Financial Planner,

www.holisticinvestment.in

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

...Read more

Nayagam P

Nayagam P P  |4579 Answers  |Ask -

Career Counsellor - Answered on May 19, 2025

Asked by Anonymous - May 18, 2025
Career
Sir , My son got 97.729 percentile in JEE Mains, He can get the admission any IIT & will get CSE.
Ans: Sir, please advise your Son to check the answer keys of JEE Advanced conducted yesterday to know his score & his approximate All India Rank. This will help you know which IITs he might get for CSE.

Here is, How to Predict Your Chances of Admission into NIT or IIIT or GFTI After JEE Main/Advanced Results – A Step-by-Step Guide

Providing precise admission chances for each student can be challenging. Some reputed educational websites offer ‘College Predictor’ tools where you can check possible college options based on your percentile, category, and preferences. However, for a more accurate understanding, here’s a simple yet effective 9-step method using JoSAA’s past-year opening and closing ranks. This approach gives you a fair estimate (though not 100% exact) of your admission chances based on the previous year’s data.

Step-by-Step Guide to Check Your Admission Chances Using JoSAA Data
Step 1: Collect Your Key Details
Before starting, note down the following details:

Your JEE Main percentile
Your category (General-Open, SC, ST, OBC-NCL, EWS, PwD categories)
Preferred institute types (NIT, IIIT, GFTI)
Preferred locations (or if you're open to any location in India)
List of at least 3 preferred academic programs (branches) as backups (instead of relying on just one option)
Step 2: Access JoSAA’s Official Opening & Closing Ranks
Go to Google and type: JoSAA Opening & Closing Ranks 2024
Click on the first search result (official JoSAA website).
You will land directly on JoSAA’s portal, where you can enter your details to check past-year cutoffs.
Step 3: Select the Round Number
JoSAA conducts five rounds of counseling.
For a safer estimate, choose Round 4, as most admissions are settled by this round.
Step 4: Choose the Institute Type
Select NIT, IIIT, or GFTI, depending on your preference.
If you are open to all types of institutes, check them one by one instead of selecting all at once.
Step 5: Select the Institute Name (Based on Location)
It is recommended to check institutes one by one, based on your preferred locations.
Avoid selecting ‘ALL’ at once, as it may create confusion.
Step 6: Select Your Preferred Academic Program (Branch)
Enter the branches you are interested in, one at a time, in your preferred order.
Step 7: Submit and Analyze Results
After selecting the relevant details, click the ‘SUBMIT’ button.
The system will display Opening & Closing Ranks of the selected institute and branch for different categories.
Step 8: Note Down the Opening & Closing Ranks
Maintain a notebook or diary to record the Opening & Closing Ranks for each institute and branch you are interested in.
This will serve as a quick reference during JoSAA counseling.
Step 9: Adjust Your Expectations on a Safer Side
Since Opening & Closing Ranks fluctuate slightly each year, always adjust the numbers for safety.
Example Calculation:
If the Opening & Closing Ranks for NIT Delhi | Mechanical Engineering | OPEN Category show 8622 & 26186 (for Home State), consider adjusting them to 8300 & 23000 (on a safer side).
If the Female Category rank is 34334 & 36212, adjust it to 31000 & 33000.
Follow this approach for Other State candidates and different categories.
Pro Tip: Adjust your expected rank slightly lower than the previous year's cutoffs for realistic expectations during JoSAA counseling.

Can This Method Be Used for JEE April & JEE Advanced?
Yes! You can repeat the same steps after your April JEE Main results to refine your admission possibilities.
You can also follow a similar process for JEE Advanced cutoffs when applying for IITs.

Want to Learn More About JoSAA Counseling?
If you want detailed insights on JoSAA counseling, engineering entrance exams, preparation strategies, and engineering career options, check out EduJob360’s 180+ YouTube videos on this topic!

Hope this guide helps! All the best for your Son's admissions!

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