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Kanchan

Kanchan Rai  |656 Answers  |Ask -

Relationships Expert, Mind Coach - Answered on Aug 13, 2025

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 - Jun 22, 2025Hindi
Relationship

I started my small project and he asks for my money of which sometimes he does not pay back I am afraid I will have to live like this my whole life

Ans: whom are we talking about ? can you pls tell more about who "HE" is

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Anu

Anu Krishna  |1769 Answers  |Ask -

Relationships Expert, Mind Coach - Answered on Dec 14, 2022

Relationship
Hello Anu,I am under severe confusion and frustration. Wanted to consult with some psychiatrist but then I got to know about you. I have an issue with my father.I'm a 29 years old working man.My family background was not good, my father was the sole bread earner in the family of 9 including my uncle and grandparents.But my father invested in his children.He gave us a good education.He sent me for IIT coaching in Kota. I couldn't clear IIT but cleared AIEEE.Today I'm earning a lot. I'm a software engineer with 7+ years of experience in IT in a big giant firm earning Rs 62 lakhs an annum. But the picture does not look like it is.My father takes all my money.Literally he does that.He has been doing it for last 7 years, every single month.He has taken my all salaries till now, 80+ months' salaries to be precise.And his modus operandi is- he knows my monthly in hand salary after deductions, which is around 3.5 lakhs now.He calls me around 25th of the month saying 'Don't use the salary. I need 4 lakhs this month. He asks me more than my salary, then says ‘okay you don't have this much, so give me as much as you can.’Earlier when my salary was Rs 85,0000, he used to ask for Rs 1 lakh.When salary became Rs 2.2 lakhs he used to ask Rs 2.5 lakhs.I keep approx Rs 15-20,000 for myself and give the remaining to him.Why do I give him all my money?Because I have this feeling that whatever I am today, it's all because of him.He went against all odds to educate us, otherwise I would have been a poor kid somewhere in my village doing farming.The sad part is, he does not use this money for himself.If he would have used it for his needs I would have been the happiest person. He gives loans to his relatives free of cost.People come to my father and request that they need money for some XYZ reason. They say you have a lot of money, your son is earning so much, so please help us. My father says okay.He calls me and says that he has given his word, now he can't step back and I will have to arrange the money. And this money never comes back.Till now nobody has returned a single penny.When I ask my father, he says ‘it's okay, you will earn more. They can take only your money, not your destiny.’I'm not exaggerating but I don't have even a RO filter in my home. I spend Rs 1,500 on water.I'm fed up with all this.I had a discussion with my father regarding this many a times that I can't keep doing this.He says What will you do with the money? Tell me the item you want, we will purchase it for you.So far I have given more than Rs 1 crore. I'm such a fool.I don't want to spoil my relationship with my father but at the same time I also want him to understand that I'm a human not a money-making machine.The problem has started now, because now he is doing the same with my younger brother as well.He recently started his job after college, and earns around Rs 55K.My father takes 50K from him and has deliberately kept him with me so that we can save on rent and he can keep the money.Till now when he was taking my money, I was not so much hurt.But now when my brother is giving money, I can't bear it. He is a small kid who does a lot of hard work and even his money is taken away.I cannot share this with anyone.I keep asking myself if I'm a bad son who thinks like this about his father.But I can see the reality which is very discouraging.I'm not able to digest the fact that this is actually happening.Please suggest what I should do.Should I tell this to someone? But then the other person will think bad about my father which I don't want.I'm lost. Please suggest me something.
Ans:

Dear RS,

If by now you haven’t figured out that you are being used for playing the role of a good son, then when is it going to dawn on you?

It feels unreal even if your father took all that money for himself without realizing that his son needs his hard-earned money to set up his life. But here, it’s going to relatives and everywhere.

And now, it’s the turn of your brother too.

There is really no need to set this example as an older brother to just bend over backwards for your father. Instead, change the role and let your brother do the same.

Take charge of your finances and share what you deem fit with your father that covers his expenses (assuming that he is retired).

This way, you will fulfil the duty of being a good son taking care of his father. Beyond this, save your money and invest it wisely and please spend on yourself.

What will you do when you marry?

You think your wife is going to support this flow transaction of money between you and your father?

And when she tries to reason out with you, either you or your father will blame her for being selfish. In fact, she will only be looking out for your wellbeing.

So, before this gets even more murkier, make a point by sitting your father down and asserting that you are taking charge of your finances and reassuring him that he will always be taken care of.

His need to please his relatives by giving away your money has to stopped.

This might be met with a lot of resistance from your father, but you know what is to be done. Else, this will grow even with your brother and get progressively worse. So, step in NOW.

All the best!

..Read more

Kanchan

Kanchan Rai  |656 Answers  |Ask -

Relationships Expert, Mind Coach - Answered on Mar 21, 2024

Asked by Anonymous - Mar 20, 2024Hindi
Listen
Relationship
Hi Sir. I have a typical.problem here. I lend.money to one of.mynfriends for his bzness..I worked as a consultant for him. I made an agreement for the money given to him. Nevertheless he didn't return the money yet..I left him now some months back. Though I asked him to give bac money but he says he has lost lot in his bzness and also says he can't return the money. Sometimes indirectly he says that because of me he has landed in loss. I don't want to go.legally but it has been lot.ot.months that he has returned money. But now I can't wait. What should I do now..pls advise. Thanks
Ans: Navigating financial matters within friendships can be challenging, especially when agreements aren't upheld as expected.

Initiate an open and honest conversation with your friend about the loan. Express your concerns and feelings without blaming or accusing. Use "I" statements to convey how his actions have impacted you personally.
Give your friend an opportunity to explain his side of the story. Listen attentively to understand his perspective and the challenges he's facing with his business. Empathize with his situation while also emphasizing the importance of fulfilling financial commitments.
Instead of dwelling on past grievances, shift the conversation toward finding a solution that works for both of you. Explore options such as renegotiating the repayment terms, setting up a payment plan, or considering alternative forms of compensation if he's unable to repay the full amount immediately.
Validate your friend's feelings and concerns about the situation, but also assert the impact his actions have had on you. Help him understand the importance of honoring agreements and maintaining trust in the relationship.
Clearly communicate your expectations moving forward. If you're unable to reach a resolution or if your friend continues to disregard the agreement, be prepared to set boundaries to protect yourself financially and emotionally. This might involve seeking legal advice or taking further action if necessary.
While it's important to address the financial issue, prioritize preserving the friendship if possible. Reassure your friend that your intention is not to harm the relationship but to find a mutually beneficial solution. Emphasize the value you place on your friendship and your desire to work through this challenge together.
Use this experience as an opportunity for personal and relational growth. Reflect on what you've learned about trust, communication, and financial boundaries in friendships. Apply these lessons to future interactions to prevent similar issues from arising.
Ultimately, finding a resolution to financial disputes within friendships requires patience, empathy, and effective communication. By approaching the situation with understanding and a willingness to collaborate, you can work toward a solution that honors both your financial needs and the integrity of your relationship.

..Read more

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Asked by Anonymous - Mar 04, 2026Hindi
Career
My daughter has completed Btech -Architecture in India from Nagpur in year 2023 and later she went from Krishna consultancy for overseas education in Canada, where she has completed 2 years education to get 3 year PR in 2+3 year pattern. she has completed one year project management and one year education in land scape designing. Now she is searching for job almost 2 years but jobs are not available in respective field. now she is learning french for to get PR points etc. Learn and earn sideway job she is doing. Can you suggest any authentic job consultancy so that she can register. she has already registered in indeed, linked in etc, but in vain. Its very pity that we educate for good cause and they do not get job. She was also topper in subjects and received testimonials from Contesta university in Canada. What should be approach. what advise you can give us. can you help to provide any construction and architecture genuine job site. Because where she apply , that all displayed jobs are fake either or no response , only they collect Resumes.
Ans: I understand your frustration—it's disheartening when a talented graduate like your daughter, with her BTech Architecture, Project Management, Landscape Design credentials, and Contesta University testimonials, faces job hurdles despite PR status and French learning efforts. Kindly encourage her to: 1) Optimize/fully utilise LinkedIn daily—connect with Canadian architects/recruiters, join AEC immigrant groups; 2) Register with specialized recruiters: AXIS Recruitment, BCCA Newcomers, Job Bank Canada (NOC 21201); 3) Create a Canadian-format resume highlighting PR status, university topper awards, and testimonials; 4) Target junior drafter roles (more openings) rather than senior architect positions; 5) Network through French classes and learn-and-earn contacts for referrals. Consider India backup options while maintaining PR residency obligations. All the BEST for Your Daughter's Prosperous Future!

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Ramalingam

Ramalingam Kalirajan  |11056 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on Mar 05, 2026

Asked by Anonymous - Mar 05, 2026Hindi
Money
Hello Experts, I am working in GCC. I have taken 30L @ 9.45% floating ROI Home Loan from DHFL (now Piramal Finance) in March 2015 for 15 yrs (till 2030). But due to fluctuation/instability in Market my Home Loan gradually rose upto 12.22% at present March 2026. Now due to this increase to ROI now last EMI due went upto 2032. Whenever I visited to India, I thought switch over my Home Loan to other Banking or Non-banking company. But due to something or other reason it never happened. So now almost 6+ years are left to complete my Home Loan. So in this case Pls suggest, now is it worth switching to other Banking or Non-banking company, considering all the fees and charges pending 18L. (foreclosure, documentation, etc.)
Ans: You have been servicing your home loan for more than 10 years. That shows strong repayment discipline. Now interest rate has increased and tenure extended. So reviewing it is a wise step.

Let us analyse calmly.

» Current Situation

– Loan taken: Rs 30 lakhs in 2015
– Current outstanding: Around Rs 18 lakhs
– Current ROI: 12.22% (floating)
– Tenure extended till 2032
– Around 6+ years left

12.22% is high in today’s market for a home loan.

» Why Your EMI Increased

When interest rate rises:

– Either EMI increases
– Or tenure increases
– Or both

In your case, tenure has increased. That means you will pay more total interest.

At 12%+ rate, interest burden becomes heavy.

» Should You Switch Now?

Yes, you should seriously evaluate switching.

Even though only 6 years are left, still:

– Outstanding is Rs 18 lakhs
– Rate difference may be 1% to 2%
– That can reduce total interest meaningfully

If another bank offers around 8.5% to 9%, difference is large.

» What To Check Before Switching

Do not switch blindly. Check these:

– Foreclosure charges (for floating loans usually zero, but confirm)
– Processing fee in new bank
– Legal and valuation charges
– Documentation charges
– Insurance cancellation impact if any

If total switching cost is reasonable and rate difference is above 1%, switching makes sense.

» Break-Even Thinking

Ask yourself:

– How much total interest will I save after switching?
– Is that higher than total transfer cost?

If savings clearly exceed costs, then shift.

If savings are very small, then not worth the effort.

» Alternative Option – Negotiate First

Before switching, try this:

– Write officially to existing lender
– Request rate reduction
– Mention competitor rates
– Ask for internal rate revision

Sometimes banks reduce rate by charging small conversion fee. That is easier than full transfer.

» Since You Are Working in GCC

Being NRI:

– Documentation may take more time
– Power of attorney may be needed
– Some banks may offer better NRI loan packages

Plan visit properly if switching.

» Cash Flow Strategy

Also consider:

– If you have surplus savings, partial prepayment is powerful
– Prepaying Rs 2–3 lakhs can reduce tenure sharply
– Floating loans usually have no prepayment penalty

If you combine rate reduction + part prepayment, loan can close faster.

» Emotional and Financial Angle

At this stage:

– Only 6 years left
– Goal should be to close loan peacefully
– Not to stretch till 2032

Loan-free life before retirement is ideal.

» Final Insights

Your present rate of 12.22% is high. Do not ignore it.

Action plan:

– First negotiate with current lender
– If not reduced properly, compare with 2–3 banks
– Calculate total switching cost
– Switch if net savings are meaningful
– Consider part prepayment if possible

With disciplined action now, you can close loan earlier and save interest.

Delay will only increase interest outgo.

Best Regards,

K. Ramalingam, MBA, CFP,

Chief Financial Planner,

www.holisticinvestment.in

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

...Read more

Pankaj

Pankaj Vyavahare  |18 Answers  |Ask -

Career Counsellor, Life Coach - Answered on Mar 05, 2026

Asked by Anonymous - Mar 04, 2026Hindi
Career
My Daughter is in 12th currently and has completed her 1st Jee attempt and has scored 78.82 she will be attending the 2nd attempt in April. I want her to do well in her CBSE boards and join a good college in Bangalore where we reside taking the subject of her choice. However she is bent upon taking a drop this year which we feel is not a good idea considering her 1st attempt scores. She says she is willing to join any college even after taking a drop and if she is not able to score well which I feel is wasting 1 years of her academics. Kindly advise or suggest what is right for her please.
Ans: Namaste
First of all I must appreciate your thought of not wasting 1 years through Gap/Drop. Its absolutely meaningless and even creates future bad consequences for abroad education or opportunity. We are not in a position to justify our gap. Anyhow you have mentioned her JEE 1st attempt result. It shows that either her study is moderate in PCM subjects or she can make her career in remaining 16 career clusters. If it was 95 and above in her 1st attempt, she could make more good in her 2nd JEE attempt.
It will be better if she thinks twice about her passion and abilities. It’s high time to think and take decision. She can take admission in other than IIT/NIT institutes. There are many good colleges in Banglore too.
Not every one become engineer. But everyone can see his/her inner strength, passion for something better required by world. We can work for betterment of the world, throgh what we have good amount with us. Please find that"Good One"

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Ramalingam Kalirajan  |11056 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on Mar 05, 2026

Money
I hv a lic jeevan suraksha policy which started in 2001 and ended in 2006. I am 78 years. Should I surrender or keep it till I am alive.
Ans: You have maintained a policy from 2001. That shows discipline. At age 78, the focus should now be income stability, simplicity, and peace of mind.

Let us understand this clearly.

» Understanding Your Policy Status

– Policy started in 2001
– Premium payment ended in 2006
– Now you are 78 years

So this is a fully paid-up policy. You are not paying anything now.

Main question is:
Does it give regular income?
Or does it give only maturity or death benefit?

This clarity is very important before deciding.

» If It Is Giving Lifetime Pension

If the policy is giving you regular pension income:

– Continue it
– Do not surrender
– At 78, guaranteed income is valuable
– Market-linked reinvestment may not be suitable

Because at this age, capital safety is more important than return.

» If It Is Only Giving Lump Sum on Death

If it is only a small death benefit and no income:

– Check surrender value
– Compare surrender value with death benefit

At 78, insurance need is almost zero. Your dependents may not need life cover now.

In such case:

– If surrender value is reasonable, you may consider surrender
– Amount can be moved to safe income generating instrument
– Keep liquidity for medical and personal expenses

» Important Questions to Ask LIC

Before taking decision, confirm:

– What is current surrender value?
– What is paid-up sum assured?
– Any bonuses accumulated?
– What is death benefit amount?

Take a written statement.

» Health and Liquidity Consideration

At 78:

– Medical expenses can increase suddenly
– Emergency liquidity is very important
– Keep money easily accessible

Do not lock money unnecessarily.

» Emotional Aspect

Many people keep old policies because of emotional attachment. That is natural.

But decision should be practical:

– Is it serving purpose?
– Is it giving meaningful income?
– Or is it just lying idle?

» Final Insights

If policy is giving steady lifetime pension, continue peacefully.

If it is only small death cover with low benefit, surrender and move funds into:

– Bank fixed deposits
– Short-term debt mutual funds
– Senior citizen savings schemes

At this stage of life, simplicity and liquidity matter more than return.

You have already built assets over many years. Now the goal is protection and comfort.

Best Regards,

K. Ramalingam, MBA, CFP,

Chief Financial Planner,

www.holisticinvestment.in

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

...Read more

Ramalingam

Ramalingam Kalirajan  |11056 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on Mar 05, 2026

Money
Dear Sir, I (aged 60 yrs) have a Plan for my daughter marriage during June 2027. I have various mutual funds under the category of Small, Mid, Large and Agg Hybrids, Thematics which have a decent as well as moderate returns. How & When to Plan to withdraw Rs 25 lacs safely from them and kept for marriage time and Where to park it to get further helathy returns upto that period? Help me for the roadmap to withdraw and kept safely. Thqs in adv for the reply.
Ans: You have planned in advance for your daughter’s marriage. That shows responsibility and clarity. At age 60, protecting capital is more important than chasing return. Now your focus must be safety first, growth next.

June 2027 is not very far. So we must reduce risk step by step.

» Understanding the Time Frame

– Today to June 2027 is roughly around 1.5 to 2 years
– This is short-term period
– Equity markets can be volatile in this time

Since the goal date is fixed, we cannot take risk of market fall just before marriage.

» Risk in Your Current Portfolio

You mentioned:

– Small cap funds
– Mid cap funds
– Large cap funds
– Aggressive hybrid funds
– Thematic funds

Small cap and thematic funds are highly volatile. Even mid cap can fall sharply in short period.

If market corrects 20% to 30%, your marriage corpus may get disturbed. That risk is not acceptable now.

» When to Start Withdrawal

Do not wait till 2027.

Start systematic withdrawal planning from now itself.

Roadmap:

– Immediately identify the funds which have highest volatility (small cap, thematic)
– Start redeeming them first
– Gradually shift large cap and hybrid funds also

Complete full shifting at least 9 to 12 months before marriage.

By mid 2026, the full Rs 25 lakhs should be in safe instruments.

» How to Withdraw Smartly

– Redeem in phased manner over next 6 to 9 months
– Avoid withdrawing entire amount in one day
– Use market rallies to redeem

Also keep taxation in mind:

– Equity LTCG above Rs 1.25 lakh taxed at 12.5%
– Equity STCG taxed at 20%

Plan redemption in such a way that tax impact is controlled. Spread across financial years if needed.

» Where to Park the Money Safely

Since goal is short term, safety is priority.

Suitable parking options:

– Short duration debt mutual funds
– Money market funds
– Bank fixed deposits (laddered maturity)
– Senior citizen savings schemes (if liquidity allows)

Debt mutual funds are more flexible than FD. But remember:

– Debt fund gains taxed as per your income slab

So if your tax slab is high, compare with FD post-tax return before deciding.

» Should You Continue in Equity Till 2027?

No.

Equity is good for long-term wealth. But for fixed event like marriage, equity is risky.

Marriage date will not change based on market condition. So capital protection is key.

» Liquidity Planning

– Keep at least 3 to 6 months of marriage expenses in savings account by early 2027
– Keep rest in short-term instrument maturing near wedding date

This avoids last minute stress.

» 360 Degree Check

Apart from marriage fund, ensure:

– Emergency fund separate and untouched
– Health insurance adequate at age 60
– Retirement corpus not disturbed for marriage

Very important point:
Do not compromise your retirement comfort for one-time event.

Children’s marriage is important. But your lifetime income security is more important.

» Finally

Your action plan should be:

– Start gradual redemption now
– Exit high-risk funds first
– Move full Rs 25 lakhs to safe instruments by mid 2026
– Focus on capital protection, not high return
– Keep liquidity ready before event

If executed properly, you will attend your daughter’s marriage peacefully, without worrying about market conditions.

That peace of mind is more valuable than extra return.

Best Regards,

K. Ramalingam, MBA, CFP,

Chief Financial Planner,

www.holisticinvestment.in

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

...Read more

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