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Kanchan

Kanchan Rai  |183 Answers  |Ask -

Relationships Expert, Mind Coach - Answered on Oct 24, 2023

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 - Oct 24, 2023Hindi
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Relationship

Dear Mam, I have been in a relationship for four years now. We have had physical contact. relation .He loves me very much. But some girls who are friends often seem suspicious. For example, ask my boy if he can give me the dress he has put on. She gets jealous when she posts my photo. What is this.. (She is married.)

Ans: I understand that it can be challenging when jealousy arises in a long-term relationship, and it's important to address these concerns in a healthy and constructive way. In your situation, it's not uncommon for feelings of jealousy to emerge when it appears that other women are showing interest in your boyfriend, especially if they are married. Here are some insights and advice for handling this situation:

Open Communication: The key to resolving these feelings of jealousy is open and honest communication with your partner. Sit down and have a calm, non-confrontational conversation with your boyfriend about how you've been feeling. Express your concerns and let him know that you value his friendship with these women but that their actions have been making you uncomfortable.
Understanding Intentions: Ask your boyfriend about his interactions with these female friends. It's important to understand his perspective and intentions. It's possible that he's unaware of how these actions are affecting you, and he might be able to offer reassurance.
Set Boundaries: Establish clear boundaries that both you and your boyfriend are comfortable with regarding interactions with the opposite sex. Discuss what is acceptable and what is not. It's essential that both partners agree on these boundaries to ensure a healthy and trusting relationship.
Trust and Reassurance: Reiterate your trust in your boyfriend's love and commitment to you. If he reassures you that his feelings for you are strong and that these interactions are purely platonic, it's important to believe and trust him. Jealousy can erode trust, so it's crucial to maintain that trust in your relationship.
Self-Reflection: Take time to reflect on your own feelings of jealousy. Are there specific insecurities or past experiences that contribute to these emotions? Self-awareness can help you better understand and manage your feelings.
Support and Compromise: If these feelings persist and become a significant source of conflict in your relationship, consider seeking professional help from a therapist or counselor. They can provide guidance, facilitate discussions, and offer strategies for both partners to manage jealousy and maintain a healthy relationship.
Remember that every relationship is unique, and it's essential to address jealousy and insecurities in a way that works for both you and your partner. Healthy communication, trust, and understanding can help you navigate these challenges and build a stronger, more resilient relationship.

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Anu

Anu Krishna  |839 Answers  |Ask -

Relationships Expert, Mind Coach - Answered on May 16, 2022

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Relationship
Dear Anu, my boyfriend and I are school mates. We studied in the same class. We have been in a relationship for more than 10 years and currently we are working.There is a girl in his life whom we know through common friends. Through one of his friends we got to know that there were a lot of rumours about my BF and her being together earlier. However my BF explained that he treats her like a sister and there is nothing between them.I got the same explanation from that girl as well. So I accepted their relationship stance and went ahead without any doubt.Right now our relationship is very less lively and sparkling. We spend less time together as we are committed in our work and trapped in debt too. Due to family responsibilities, he spends less time with me. He says he has lot of work and hardly meets me. I have been learning over the past few months that my bf and the girl are seemingly growing closer. She calls him daily to ask about his whereabouts and every detail of our life. She knows more about him than me. Recently my BF was out with his family and he was not reachable for a day.When he is out with family, I would give time to let him update me but the girl messaged me to check if my BF updated me where and what he is doing, whether he is safe or not and what time he will be back. For me this concern seems little fishy. Pls advice on this. I am thinking about talking to my BF. I need advice on how to manage the situation and get proper explanation out of it.
Ans:

Dear A,

What more does he need to do for you to see what he is worth at this moment?

Dilly-dallying in the current relationship by relying on external relationship, ain’t fun, yeah?

‘Sister’ is a convenient label used when a man isn’t sure about his feelings for her, or he is sure and doesn’t want his current partner (namely, you) to go nasty on him.

Why she is keen on his whereabouts is anyone’s guess! Did you tell her off and ask her to find out herself? What are you, a messenger between the two of them?

And when you do talk to him, ask him: where is his mind on your relationship and what he plans on telling his ‘sister’?

Oh and if his answers don’t satisfy you or he still comes across as evasive, you know what to do then.

All the best!

..Read more

Anu

Anu Krishna  |839 Answers  |Ask -

Relationships Expert, Mind Coach - Answered on Jul 04, 2022

Relationship
Hi, I'm someone. Sorry for taking your time please read this and help me I really need someone to guide me in my life right now. Sorry for this long mail. I would be really glad if you take time and read this. I am 23 years old, a married girl. I got married to my husband on December 10 2021 last year. It was an arranged marriage. Our family met along with us in 2019 and fixed our marriage. At first I didn't wanted to marry because it was too early and I was just pursuing my bachelor's degree but my family didn't listen to me as I was the elder one so they wanted me to get married before they got old. I agreed and slowly started developing a fondness and liking towards my fiance and later fell in love with him. But after our marriage things started to feel a bit weird. He has too many female friends which I'm absolutely fine with. I'm not that conservative. They all were invited in our wedding and I met them. they seem nice people but one of his friends is bothering. Let’s call her Y. My husband keeps talking to her on calls and messages all the time and the conversations are absolutely boring like they don't have anything to talk but still they keep up the conversation. I used to think it's fine or maybe I'm being too possessive but when I got to know that he spent 12 lakh on her I was shocked. He also spends money on her on a daily basis. He books an Uber for her daily. Whenever she needs anything he will immediately say I will bring it for you. Y is also married her husband is fine with it because he also takes money from my husband. In fact her whole family takes money. They're financially not very strong so I understand this thing of helping someone. What I don't understand is why does my husband have to talk to her all the time? Even when I'm sitting right in front of him he would ignore me.Apart from Y, there is one more person he treats the same way, his ex. A few days after our marriage I checked his phone (I know it's wrong but my instinct let me do to so cause of his behaviour) and I found some messages from 2019 between my husband and his ex. The conversations clearly proved that they were in a relationship and broke up in 2019. When I asked him indirectly as I didn't want him to know that I checked his phone he said that the (ex) is his sister. He lied! And I found that they are still friends which I understand. I'm fine with that. But I cannot be fine with them talking on a daily basis and my husband fulfilling all her wishes just like the first girl Y. He even took a screenshot her picture (ex) and saved it when she uploaded it on her WhatsApp status a few days after our marriage. When I asked him why are you keeping her picture, he denied and said oh aise hi, I guess by mistake So I ignored that. But he calls and sends gifts to her. He even takes me along with him to buy presents for her so that I don't think that it's wrong. I always ask him why are you talking to your ex and Y all the time; you don't even spend time with me. Because of this there are lots of fights happening between us. He said he has work load and is frustrated with his life, dealing with depression, so to avoid those feelings he talks with his friends. I understood and allowed him to talk but he spends Rs 8,000-9,000 every month on them. He once said that he has to give them money so that they won't stop talking with him; that's how friendship works including Rs 5,000 flight ticket and taking loan worth Rs 12-13 lakh for them. I am a fool in love so I got easily manipulated and allowed him but not completely. I set a limit for him to not over spend more than Rs 5000 per month on them. My family and friends are constantly suggesting that I leave him as he doesn't care about my feelings that I have given him way too many chances. Whenever I try to confront him for meeting up with them or spending too much money on them he immediately starts caring for me the next day. Because of this I always get confused that maybe he loves me too and I'm just being a possessive wife. I told him I will divorce you if you keep treating me like this and keep talking to your girls day and night. He said I shouldn’t talk like that and doesn't want me to divorce him as he loves me and he wouldn't have chosen me in the first place if he liked them.Whenever I try to confront him about the girls, he says I think you have a boyfriend and you are cheating on me. Give me your phone I will check your phone. I heard call recordings of him and Y. He records the conversations he has with the girls. When I asked he said he does it so that those girls or anyone won't blame him in future that he said something wrong. Anyway, I heard my husband saying bad things about me to Y in one of those recordings after being frustrated with me as I fought with him because of them. I was really broken. He said I don't give him space which is not true and he wants to go alone to places like markets or KFC or wherever he wants but I'm not letting him do that. At the same time he asked Y if she wants to join him and meet up at a certain place. I don't understand him. If there isn't anything wrong then why is he talking with her day and night and not being bored and with me he rarely spends time and wants space. His parents are fed up with him they told me he has been like this always. They support me and want him to get away from those girls. They married me to him so that he would leave those girls and stop spending such big amounts of money on them. But he doesn't want to get away from them. He said that if by chance one day those girls stopped talking to him for some reason then he will definitely leave them. But they never stop. I don't understand why is he waiting for them to stop and why doesn't HE wants to stop. Depression? Maybe I don't know. I even told him let's meet up with a therapist but he refused and said he's fine and I'm being dramatic. He talks to them at work and at home.If he doesn't talk to them for a day he will get mad. I remember one time he was panicked and kept saying I want to talk to Y. It's not like they are blackmailing and stuff; they don't even want to talk with him. He is the one who keeps calling them; it's very weird. He is fighting with his family, fighting with me, just for them. He manipulates me a lot. He has lied to me several times about not meeting with Y. Please advice what I should do. My friends say I should divorce him as my mental health is deteriorating because of him. I love him a lot but he doesn't care. He says he loves me but I don't find honesty in those words as he keeps repeating the things that bother me and our relation.
Ans:

Dear Anonymous,

What exactly are you waiting for me to say? Haven’t you seen enough red flags in your marriage?

  • Your in-laws telling you that he has always been like this
  • Your husband playing the victim of Depression to gain your sympathy vote and then refusing to see a therapist
  • Spending money to earn the validation and attention of two women who are possibly using him
  • Spending valuable time away from you to indulge his feelings elsewhere
  • Complaining about you to a person outside of marriage
  • Invalidating your feelings arising from this situation and making you like the bad one for complaining

Do you want me to go on?

How much more do you want to give in?

If you truly want this marriage to work, he needs to turn himself into a new leaf, which means he needs to address his insecurities, his behavior and more.

Is he willing to go through all that?

Maybe have an honest sit-down talk with him and then decide keeping yourself at the centre of all this.

You matter and matter to yourself every moment, so DO SOMETHING about it.

You owe a lot of happiness to yourself, so get ahead NOW.

All the best!

..Read more

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Sushil

Sushil Sukhwani  |347 Answers  |Ask -

Study Abroad Expert - Answered on May 11, 2024

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Dear Mr Mayank ,my daughter presently pursuing B Tech-CS (AI/ML) from SRM Chennai -in 2nd year at present -we are in two minds as to doing MS abroad or take up campus job if possible after passout -MS abroad obviously would be finicially challenging so i thought at least she can work for say 2 years to begin with & then .Could you be able to offer some advice on the same.
Ans: Hello Sougata,

To begin with, thank you for contacting us. I am happy to hear that your daughter is currently pursuing the second year of her Bachelor of Technology (B.Tech) in Computer Science (AI/ML). To answer your question first, I would like to tell you that deciding whether to begin working after earning a Bachelor’s degree in B.Tech- CS (AI/ML) or to go abroad for a Masters program can be a big decision. I would recommend that your daughter considers the following:

Firstly, I would suggest that you motivate your daughter to consider her professional objectives and ambitions. Consider whether she intends working in industry or pursuing research and academia. Remember that specialized information and possibilities for research can be offered through a Masters degree. A job on the contrary, can offer hands-on experience and skill advancement. Next, I would recommend that you investigate the AI/ML labor market both, locally and globally. Ascertain whether professionals with a Masters degree are highly sought-after or if pertinent work experience is equally valued. Coming to monetary considerations, bear in mind that finances play a key role in decision-making. Evaluate the cost of pursuing a Masters degree overseas taking into account the tuition costs, living costs, and any possible monetary assistance or scholarships. I would suggest that you compare this to the possible pay from an entry-level job post graduation or from a job on campus. Remember that significant networking possibilities as well as exposure to varied viewpoints, cultures, and technological advancements are offered by studying overseas. I would suggest that you think about the long-term advantages of developing a worldwide professional network and acquiring overseas experience. As the next step, I would recommend that you explore whether your daughter’s institution or future employers offer any possibilities for industry linkages or alliances. Bear in mind that besides improving her employment opportunities, these contacts can also offer insightful knowledge of the field. Motivate your daughter to consider her goals for personal development. Studying overseas can promote independence, flexibility and cultural understanding. Working, on the other hand, can provide useful skills and advance one’s career. Lastly, the choice should best resonate with your daughter’s personal objectives, ambitions, and financial circumstances. Prior to making a decision, I would recommend that your daughter gets in touch with mentors, employment consultants, former students, as well as industry experts to acquire new viewpoints and insights.

For more information, you can visit our website: www.edwiseinternational.com

You can also follow us on our Instagram page: edwiseint

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Sushil

Sushil Sukhwani  |347 Answers  |Ask -

Study Abroad Expert - Answered on May 11, 2024

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Career
Hlo sir I'm from India I'm currently doing my MD degree in Philippines and I wish to continue my further studies in Australia and I want to know what are the options available and how to study there?
Ans: Hello Kavi,

To begin with, thank you for contacting us. I am glad to hear that you are currently pursuing your Doctor of Medicine (MD) degree in Philippines after which you intend continuing your further studies in Australia. As an answer to your query, I would like to tell you that post completing your MD degree in the Philippines, to study further in Australia, you can investigate different options viz., submitting applications for residency programs in medicine or seeking further specialization through postgraduate medical education or licensing examinations viz., the Australian Medical Council (AMC) exams. Firstly, I would suggest that you conduct an extensive study on universities in Australia that offer courses in your desired field of study, and examine the prerequisites for admission for overseas students. You may probably need to appear for English language proficiency tests viz., the Test of English as a Foreign Language (TOEFL) or the International English Language Testing System (IELTS). You may be required to submit your academic transcripts, a statement of purpose (SOP), and recommendation letters. Moreover, I would also recommend that you learn about the prerequisites for acquiring a visa and the application process in order to study in Australia.

For more information, you can visit our website: www.edwiseinternational.com

You can also follow us on our Instagram page: edwiseint

...Read more

Ramalingam

Ramalingam Kalirajan  |1945 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on May 11, 2024

Asked by Anonymous - May 07, 2024Hindi
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Money
I am 29 yrs old. I investing 90k per month in mutual fund and stock market valued approx 34lakh and 11 lakh respectively. I also have 100 units of SGB amd activity investing in it around 10 units per issue. Just started PPF investment this year. I need to retire by age of 45. And want 3 lakh per month for monthly expenses. Please guide am i going in right directions?
Ans: At 29, you're demonstrating a proactive approach towards securing your financial future, which is commendable. Your investments in mutual funds, stocks, Sovereign Gold Bonds (SGBs), and Public Provident Fund (PPF) reflect a diversified portfolio aimed at wealth accumulation.

Investing in mutual funds and the stock market can offer substantial growth potential over the long term, especially when approached with a disciplined strategy and a focus on quality investments. Your current portfolio values of approximately 34 lakh in mutual funds and 11 lakh in stocks indicate a significant commitment to building wealth through equities.

Sovereign Gold Bonds (SGBs) offer a unique avenue for investing in gold, providing the dual benefits of capital appreciation and fixed interest income. Your strategy of actively investing in SGBs, averaging around 10 units per issue, aligns with a long-term wealth accumulation plan.

Additionally, initiating PPF investments this year adds a layer of stability to your portfolio. PPF offers attractive tax benefits and a guaranteed rate of return, making it a suitable option for retirement planning.

However, retiring by the age of 45 and aiming for a monthly expense of 3 lakh rupees necessitates a thorough evaluation of your financial plan. While your current investments show promise, achieving your retirement goal will require careful planning and possibly adjusting your investment strategy.

As a Certified Financial Planner, I recommend the following steps:

Conduct a comprehensive financial assessment to determine your current financial position, retirement goals, and risk tolerance.
Develop a detailed retirement plan, considering factors such as inflation, lifestyle expenses, and investment returns.
Evaluate the adequacy of your current savings and investment strategy in meeting your retirement income needs.
Explore options for increasing your savings rate and optimizing your investment portfolio to maximize returns while managing risk.
Continuously monitor and adjust your financial plan as needed to stay on track towards achieving your retirement goals.
In summary, while you've made significant strides in building your investment portfolio, retiring by the age of 45 and generating a monthly income of 3 lakh rupees will require careful planning and disciplined execution. By working with a Certified Financial Planner and regularly reviewing your financial plan, you can increase the likelihood of achieving your retirement goals.

Best Regards,

K. Ramalingam, MBA, CFP,

Chief Financial Planner,

www.holisticinvestment.in

...Read more

Ramalingam

Ramalingam Kalirajan  |1945 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on May 11, 2024

Asked by Anonymous - May 07, 2024Hindi
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Money
While exploring houses to buy, we realised we do not have substantial money for down payment. How wise will it be to delay our house buying plan by 5 years, invest dedicatedly in SIPs and use the accumulated sum to buy the house? We understand house prices will skyrocket as well. What should we try to do to avoid as much tax on withdrawal once SIPs mature - given we plan to invest about 1.25L each month in SIPs for buying a house.
Ans: Delaying your house buying plan to accumulate a substantial down payment through SIPs can be a prudent strategy, provided it aligns with your long-term financial goals. By investing dedicatedly in SIPs over the next five years, you'll have the opportunity to build a sizable corpus, potentially easing the financial burden of purchasing a house in the future.

However, it's essential to consider several factors before proceeding. Firstly, ensure that your investment in SIPs is diversified across different asset classes to mitigate risks. While SIPs offer the potential for growth, they are subject to market fluctuations, and a diversified portfolio can help cushion the impact of market volatility.

Secondly, keep in mind the impact of inflation and the rising cost of housing. While delaying your purchase may allow you to accumulate a larger down payment, it's essential to factor in the appreciation in house prices over time. Regularly reassess your financial plan to ensure it remains aligned with your housing goals and the prevailing market conditions.

Regarding tax implications on SIP withdrawals, consult with a tax advisor to explore strategies for minimizing tax liability. Utilize tax-efficient investment avenues such as Equity Linked Savings Schemes (ELSS) or Tax-Saving Mutual Funds, which offer tax benefits under Section 80C of the Income Tax Act.

Additionally, consider the tax implications of long-term capital gains on your SIP investments. Holding your investments for the long term can qualify for favorable tax treatment, but it's crucial to understand the applicable tax rates and exemptions.

In summary, delaying your house buying plan to invest in SIPs can be a viable strategy, provided you carefully consider market dynamics, diversify your investments, and plan for tax efficiency. Consult with a Certified Financial Planner to develop a comprehensive financial plan tailored to your specific needs and goals.

Best Regards,

K. Ramalingam, MBA, CFP,

Chief Financial Planner,

www.holisticinvestment.in

...Read more

Ramalingam

Ramalingam Kalirajan  |1945 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on May 11, 2024

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I have started one SIP of Rs40000/month, Dividend Two midcap growth Plan and one Smallcap Direct Growth Plan.. I want to know If after certain year, I can't able to pay by any means of my SIP amount, Is it acceptable. ? what will be my Financial loss to my deposited amount ? Plz Explain?
Ans: It's commendable that you've initiated SIPs (Systematic Investment Plans) to grow your wealth. However, life can be unpredictable, and circumstances may change, affecting your ability to continue these investments.

If you're unable to continue your SIPs after a certain period, it's essential to understand the implications. Firstly, discontinuing your SIPs prematurely can impact the potential growth of your investments. The longer you stay invested, the greater the power of compounding, which can significantly boost your returns over time.

Secondly, abruptly stopping your SIPs may lead to missed opportunities. Market timing is notoriously difficult, and exiting your investments at an inopportune moment could result in lost potential returns, especially if you're invested in mid-cap and small-cap funds, which tend to be more volatile.

Moreover, redeeming your investments prematurely might subject you to exit loads or penalties, further eroding your returns.

As a Certified Financial Planner, I would advise you to assess your financial situation carefully and explore alternatives before discontinuing your SIPs. Consider options like reducing the SIP amount temporarily, switching to a lower-cost plan, or pausing the SIPs if feasible, rather than stopping them altogether.

It's also crucial to have an emergency fund in place to handle unexpected financial challenges without resorting to withdrawing your investments prematurely.

Ultimately, every financial decision comes with its own set of consequences, and it's essential to weigh the pros and cons carefully before taking any action.

Best Regards,

K. Ramalingam, MBA, CFP,

Chief Financial Planner,

www.holisticinvestment.in

...Read more

Ramalingam

Ramalingam Kalirajan  |1945 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on May 11, 2024

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I have bought a Health Insurance for My family 2+1 on Aug 23 with a 25Lacs covering from Reliance General Insurance Co. This Policy is port from Niva Bhupa which i had taken in 2021. I come to know some one from my surrounding is that the Reliance is not settling claims Properly and full. This policy is taken for 2year. Can u Suggest me
Ans: I understand you're concerned about Reliance General settling claims properly. It's good to be aware! Here's how we can approach this:

Claim Settlement Ratio (CSR) Check: Every insurance company has a CSR, a public record showing the percentage of claims they settle. You can check Reliance General's CSR online to see their historical performance.

Policy Review: Review your policy documents carefully. Understand the terms and exclusions related to claim settlements. If something seems unclear, reach out to Reliance General for clarification.

Network Hospitals: Using network hospitals within your policy can streamline the claim settlement process.

Remember, a single experience doesn't represent the entire picture. However, your concern is valid. Let's not worry, we can assess further!

You did well porting your policy! Health insurance is crucial, and you've taken a great step for your family.

Moving forward: If you'd like a more in-depth analysis of your health insurance options, consider consulting a Certified Financial Planner (CFP). They can assess your specific needs and recommend the best plan based on your family's requirements.

Best Regards,

K. Ramalingam, MBA, CFP,

Chief Financial Planner,

www.holisticinvestment.in

...Read more

Ramalingam

Ramalingam Kalirajan  |1945 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on May 11, 2024

Asked by Anonymous - May 07, 2024Hindi
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I m 41 yrs old i invest 3000,3000 and 4000 per month in mutual fund nippon india large cap, quant mid cap and tata small cap so after 10yrs will b able to get 1cr? Or approximately how much i will get ater 10yrs?
Ans: Investing is a wise move for securing your financial future. With your disciplined approach, you're already on the right track. By putting aside 3000, 3000, and 4000 rupees monthly into diversified mutual funds, you're laying a solid foundation for wealth creation.

Mutual funds offer the potential for growth over the long term. Your mix of large-cap, mid-cap, and small-cap funds indicates a balanced strategy, tapping into different segments of the market for optimal returns.

However, predicting an exact amount after 10 years is tricky due to market fluctuations. Mutual fund returns are subject to market risks. While aiming for 1 crore is ambitious, it's essential to temper expectations with realism.

Your investment journey is akin to a marathon, not a sprint. Consistency and patience are key. Regular monitoring of your investments and adjusting your strategy as needed will be crucial to stay on course.

As a Certified Financial Planner, I'd advise you to focus not just on the final number but also on the journey itself. Celebrate milestones along the way and stay committed to your financial goals. Remember, financial planning is not just about numbers; it's about securing your dreams and aspirations for the future.

Best Regards,

K. Ramalingam, MBA, CFP,

Chief Financial Planner,

www.holisticinvestment.in

...Read more

Ramalingam

Ramalingam Kalirajan  |1945 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on May 11, 2024

Asked by Anonymous - May 07, 2024Hindi
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Money
I am 31, investing approx 80k per month in SIP, with a current corpus of 50L. I also have 1.2Cr in foreign stocks which have been performing really well, 10L in Indian stock market and another 15L in PPF and NPS. I want to retire by the time I'm 45 with an expected earning of 1L per month. Any suggestions or ideas?
Ans: It's impressive to see your proactive approach to financial planning at 31! With a diversified investment portfolio and a clear retirement goal, you're on the right track to achieve financial independence by the age of 45. Here are some suggestions to help you reach your retirement target:

Assess Retirement Needs: Start by estimating your retirement expenses to determine how much you'll need to generate 1L per month in passive income. Consider factors such as inflation, healthcare costs, and lifestyle preferences.

Review Investment Portfolio: Regularly review your investment portfolio to ensure it remains aligned with your retirement goals and risk tolerance. Consider rebalancing if necessary to maintain the desired asset allocation.

Maximize Contributions: Continue maximizing your SIP contributions to build wealth over time. Consider increasing your monthly SIP amounts as your income grows to accelerate wealth accumulation.

Utilize Tax-Efficient Investments: Explore tax-efficient investment options such as ELSS, PPF, and NPS to minimize tax liability and maximize returns. Take advantage of tax-saving opportunities to optimize your investment strategy.

Diversify Income Streams: Look for opportunities to diversify your sources of income beyond investments. Consider generating passive income through rental properties, royalties, or online businesses to supplement your investment earnings.

Monitor Foreign and Indian Stocks: Keep a close eye on your foreign and Indian stock holdings to capitalize on growth opportunities and mitigate risks. Consider rebalancing your stock portfolio periodically to manage volatility and optimize returns.

Plan for Healthcare Costs: Factor in healthcare expenses when planning for retirement. Consider purchasing health insurance coverage to protect against unexpected medical costs and ensure peace of mind during retirement.

Seek Professional Guidance: Consider consulting with a Certified Financial Planner (CFP) who can provide personalized advice and help you develop a comprehensive retirement plan tailored to your specific goals and circumstances.

With a disciplined approach to savings, strategic investments, and prudent financial planning, you can work towards achieving your retirement goal of generating 1L per month in passive income by the age of 45.

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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