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Love Guru

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Relationships Expert - Answered on Apr 16, 2024

Love Guru has been answering relationship and romance related questions on Rediff.com for over 13 years. She won't mince words when telling you what the problem is and what you can do about it. If you want a fresh perspective from an unbiased, objective-thinking individual about your relationship woes, Love Guru could just be the person you need to need to hear from.... more
ASHOK Question by ASHOK on Apr 06, 2024Hindi
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Relationship

Hi Ma'am, I am 66 years old my wife has expired since 11 months and i am in affair with my brother sister in law who is divorce and by age 55 years in services .I have two audit children's well settled married and living separately . they have their kids and enjoying their life . I feel alone and could not pass time on holiday . During my working days services it is ok in office . we use to meeting on holiday . she is staying with his younger brother . even she want to have happy relation with me . How can i convene my children's and her family member . kindly advise .

Ans: There’s nothing wrong with what you’re doing. She’s single, you’re single. If your children value your wellbeing and happiness, they will accept the relationship. Just sit the family down and tell them. You owe nobody an explanation as to why you’re in a relationship; you deserve happiness.

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Hi Ma'am, I am 66 years old my wife has expired since 11 months and i am in affair with my brother sister in law who is divorce and by age 55 years in services .I have two audit children's well settled married and living separately . they have their kids and enjoying their life . I feel alone and could not pass time on holiday . During my working days services it is ok in office . we use to meeting on holiday . she is staying with his younger brother . even she want to have happy relation with me . How can i convene my children's and her family member . kindly advise .
Ans: Dear Ashok,
I am truly sorry for your loss...
Find courage to sit with your children and tell them about it. Do expect that there is a possibility of rejection from them as they have never seen you with any other lady other than their mother. So the initial rejection and mockery is a possibility. It will be the same at her end as well. The family members will cite age, society etc as a reason as to why this relationship/alliance is wrong.
Both of you must be patient through all of this and give it some time. Your children and her family members may still after all this still be uncomfortable and not accept this, be prepared and do what you must. It's your lives, isn't it?
But do keep a positive outlook and expect things to go in your favor as sooner than later, people will see the intent behind all this is the need for companionship. Also, on your part, do ensure your children that no one can replace their mother; though they are adults, they will still need this reassuring...Take it one step at a time...

All the best!

..Read more

Kanchan

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

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Dear Ma'am Ms Kanchan I am 65 and still working on senior position getting very handsome salary plus perks ,having own pent house at Noida own car and with lavish life but my wife is no more she died last year and i have two adult married children's and well settled in NCR . please advise how can i have good life and what is the procedure i should adopt to get a match lady without children's and stay with me as excellent life partner .
Ans: Ashok Ji,
First, it's important to acknowledge your feelings and needs. Losing a spouse is incredibly difficult, and it's a positive step that you're looking to find companionship again. Your desire for a life partner who can share your lifestyle and provide mutual support is completely understandable.

To start this journey, consider what qualities and values are most important to you in a partner. Reflecting on your past relationship experiences can help you identify what worked well and what you might want to avoid this time around. Understanding your own needs and preferences will guide you in finding someone who is truly compatible with you.

Given your professional standing and lifestyle, you may want to explore avenues where you can meet like-minded individuals. Networking within your social and professional circles can be a good start. Friends and colleagues might know someone who is also seeking companionship.

Online platforms specifically designed for senior dating could also be helpful. These sites allow you to specify your preferences, such as looking for a partner without children, and can connect you with potential matches who share similar interests and values.

Another option is engaging in social activities, clubs, or groups that align with your interests. Whether it's a hobby, a sport, or a community service group, participating in these activities can naturally lead to meeting new people who share your passions.

When you meet someone who seems like a potential match, take the time to build a genuine connection. Open and honest communication is key. Share your thoughts, feelings, and expectations for the future, and encourage your partner to do the same. Building a strong emotional bond and mutual understanding will lay a solid foundation for a lasting relationship.

Lastly, be patient with yourself and the process. Finding the right person can take time, but maintaining a positive outlook and being open to new experiences will make the journey more enjoyable.

If you feel comfortable, seeking guidance from a relationship coach or counselor could also provide personalized support and advice as you navigate this new chapter in your life.

..Read more

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Moneywize

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Financial Planner - Answered on Oct 06, 2024

Asked by Anonymous - Oct 05, 2024Hindi
Money
I’m from Pune. I’m 48 with two children. Should I invest in ELSS funds to save tax, or should I focus on traditional instruments like PPF and fixed deposits?
Ans: Deciding between Equity Linked Savings Schemes (ELSS) and traditional investment instruments like Public Provident Fund (PPF) and Fixed Deposits (FDs) depends on various factors, including your financial goals, risk tolerance, investment horizon, and tax-saving needs. Here's a comprehensive comparison to help you make an informed decision:

1. Understanding the Investment Options

a. ELSS (Equity Linked Savings Schemes)

• Nature: Equity Mutual Funds with a tax-saving component.
• Lock-In Period: 3 years (shortest among tax-saving instruments under Section 80C).
• Returns: Potentially higher returns as they are invested in equities, but subject to market volatility.
• Tax Benefits: Investments up to ?1.5 lakh per annum are eligible for deduction under Section 80C.
• Liquidity: Relatively higher liquidity post the lock-in period compared to other tax-saving instruments.

b. PPF (Public Provident Fund)

• Nature: Government-backed long-term savings scheme.
• Lock-In Period: 15 years.
• Returns: Moderate and tax-free returns, revised periodically by the government (typically around 7-8% p.a.).
• Tax Benefits: Investments up to ?1.5 lakh per annum qualify for deduction under Section 80C. The interest earned and the maturity amount are tax-free.
• Safety: Very low risk as it's backed by the government.

c. Fixed Deposits (FDs)

• Nature: Fixed-term investment with banks or post offices.
• Lock-In Period: Varies; typically no lock-in for regular FDs, but tax-saving FDs have a 5-year lock-in.
• Returns: Fixed interest rates, generally lower than ELSS but higher than savings accounts. Current rates vary but are around 5-7% p.a. for tax-saving FDs.
• Tax Benefits: Investments up to ?1.5 lakh in tax-saving FDs qualify for deduction under Section 80C.
• Safety: Low risk, especially with reputable banks.

2. Factors to Consider

a. Risk Appetite

• ELSS: Suitable if you are willing to take on market-related risks for potentially higher returns.
• PPF & FDs: Ideal for conservative investors seeking capital protection and guaranteed returns.

b. Investment Horizon

• ELSS: 3-year lock-in period, but generally better for medium to long-term goals.
• PPF: 15-year commitment, suitable for long-term goals like retirement or children's education.
• FDs: Flexible, but tax-saving FDs require a 5-year lock-in, suitable for medium-term goals.

c. Returns

• ELSS: Historically, ELSS funds have outperformed PPF and FDs over the long term, but with higher volatility.
• PPF: Offers stable and tax-free returns, which are beneficial in a low-interest-rate environment.
• FDs: Provide guaranteed returns, useful for capital preservation but may lag behind inflation and equity returns over time.

d. Tax Efficiency

• ELSS: Returns are subject to capital gains tax. Short-term (if held for less than 3 years) gains are taxed as per your income slab, while long-term gains (exceeding ?1 lakh) are taxed at 10%.
• PPF: Completely tax-free returns.
• FDs: Interest earned is taxable as per your income slab, which can reduce the effective returns.

3. Recommendations Based on Your Profile

Given that you are 48 years old with two children, your investment strategy should balance between growth and safety, considering your proximity to retirement and financial responsibilities.

a. Diversified Approach

A balanced portfolio that includes both ELSS and traditional instruments like PPF and FDs can help mitigate risks while aiming for reasonable growth.

• ELSS: Allocate a portion (e.g., 30-40%) to ELSS to benefit from potential equity growth, which can help in wealth accumulation for retirement or funding children's education.
• PPF: Continue contributing to PPF for long-term, stable, and tax-free returns. Given its 15-year tenure, it aligns well with retirement planning.
• FDs: Use FDs for short to medium-term goals or as a part of your emergency fund, ensuring liquidity and capital preservation.

b. Consider Your Tax Bracket

If you are in a higher tax bracket, maximizing tax-saving instruments under Section 80C can provide significant tax relief. ELSS, PPF, and tax-saving FDs all qualify, so diversifying among them can spread risk and optimize tax benefits.

c. Assess Liquidity Needs

Ensure you have sufficient liquidity for unforeseen expenses. While ELSS has a shorter lock-in compared to PPF, both still tie up funds for a few years. Maintain a separate emergency fund in a more liquid form, such as a savings account or liquid mutual funds.

d. Review Your Risk Tolerance

At 48, with retirement possibly 10-20 years away, a moderate risk appetite might be suitable. ELSS can offer growth potential, while PPF and FDs provide stability.

4. Additional Considerations

• Emergency Fund: Ensure you have 6-12 months' worth of expenses saved in a highly liquid form.
• Insurance: Adequate health and life insurance are crucial, especially with dependents.
• Debt Management: If you have any high-interest debt, prioritize paying it off before locking funds in fixed instruments.

5. Consult a Financial Advisor

While the above guidelines provide a general framework, it's advisable to consult with a certified financial planner or advisor. They can offer personalized advice tailored to your specific financial situation, goals, and risk tolerance.

Finally, both ELSS and traditional instruments like PPF and FDs have their unique advantages. A diversified investment strategy that leverages the strengths of each can help you achieve a balanced portfolio, ensuring both growth and security. Given your age and family responsibilities, striking the right balance between risk and safety is essential for long-term financial well-being.

...Read more

Kanchan

Kanchan Rai  |364 Answers  |Ask -

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

Asked by Anonymous - Aug 11, 2024Hindi
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Relationship
This is urgent. Pls help. My son 18 yrs has been in a relationship with his classmate. He is intelligent and very venerable as he is innocent.She has been abetting him and his behaviour on the family has changed. He shouts at us and kind of surrendered himself to her. Anything we say irritates him. He has started telling lies. He locks the room and is on the phone hours together. Even if he tells that he is sleepy, she doesn't allow him to sleep. He doesn't know that we are aware of it. We tried to indirectly talk but he doesn't care about anything as he blindly follows her instructions. He doesn't listen to anyone. We feel something is wrong. Should we talk to her parents or use some law? Making them sit and advice doesn't work.
Ans: The challenge here is that he’s likely in a highly emotional and intense phase of his life, where his attachment to this person may feel all-consuming. When someone feels like they're being judged or controlled, they tend to push back harder, and it seems that's what’s happening with your son. Approaching him with confrontation or involving legal measures may only cause him to withdraw even more.

What he needs right now, even if he doesn't realize it, is understanding and connection. If you can find a way to express your concern for his well-being, not just your disapproval of his relationship, it might open up a space for dialogue. He may feel trapped in this relationship in ways he can't yet see. Your role can be to help him feel safe enough to reflect on his own choices, rather than feel he has to defend them.

This is a delicate situation, and while it may seem urgent, sometimes a softer approach allows for a deeper breakthrough. Your patience, love, and ability to listen might be the key to guiding him through this

...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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