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Help: Should I Break Off My Engagement Despite Pressure From My Parents?

Ravi

Ravi Mittal  |472 Answers  |Ask -

Dating, Relationships Expert - Answered on Oct 15, 2024

Ravi Mittal is an expert on dating and relationships.
He founded QuackQuack, an online dating platform, in 2010 with just two people. Today, it has over 20 million users in India.... more
Akriti Question by Akriti on Oct 09, 2024Hindi
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Relationship

Hi, I am not yet mairred. I used to like a man and after a month we decided to get married. He was of my caste so I thought my parents won't deny this mairrage. I used to talk to and wanted to let him know everything about my past so that we can built a strong root of our relationship. I spoke every detail of my past life to him. Then before he proposed me for mairrage I went for a vacation with my male friend to dehradun. I didn't tell him that day as he didn't proposed me till that day then why would I tell everything about me to anyone. He was noone to me at that time. After that he came to visit me in Delhi and on the same when he was on train a friend of mine along with his fiance came to meet me after a very long time. I asked him and he didn't denied. After returning home he blocked me. I cried and cried, called multiple times but he didn't received my call. Even I went to his location and waited for almost 3 hr but he didn't came. Then I asked my sister to call him. Then he talked to me but he said me so much of harsh and vulgar words that I went in shock. I cried a lot but he went on humiliating me. But somehow I convinced him to stay with me. I never talked to that friend ever. Then I told my parents about him that I want to get married with this men. Being a girl's father my father enquired about him by being annonymous. And trust me noone has said anything good about him. Later on we get to know that his father has a murder case on him of his brother in law. But then I wanted to get married. Finally my parents agreed only for my happines. Meanwhile I was never being respected by him. He always doubt me, humiliate me, abuse me mentally and physically, and when I was like I don't want to be with you he used to say sorry and begged me to be with him. He even used to restrict to visit my uncle aunty. His mother wants used to defend him and never used to make him realise that he was wrong. Then before engagement we went to Kolkata to buy dress. Yes one more thing I have informed him on the very first day that I used to drink and smoke occassionally. So whenever he used to visit me he always wanted to drink with me whether I want it or not. He always used to abuse me and humiliate me in front of everyone after drinking, so after a period of time I used to avoid drinking. Then he used to fight with me for that also that why will you not drink. In kolkata the same thing happen. We stayed there for 3 days and he was convincing to go to club from the very first day but I refused. On 3rd he hit me. After engagement his family asked for dowry. After a lot of dealing my parents agreed for an amount. But I felt betrayed. I stopped talking. After after when I initiated the conversation he picked up a fight and said he won't marry. I tried to convince. But when everyone was blaming me then I broke my silence and said everything about him to my parent. But he manipulated everything and made me villain. My parents want me to get married What should I do

Ans: Dear Akriti,
After reading your question I can only give you one advice, please do not marry him no matter what people say. Even if we overlook every other red flag that he has exhibited, abuse of any form is unacceptable. Why are you trying to convince your parents to marry a guy who hits you? Do you think you deserve it or anyone, for that matter, deserves that?

Now, no matter who tries to manipulate you, or however much they try to convince you, get out of the relationship for the love and self-respect you have for yourself. It is a big decision but in your case, it is worth making that big decision. I'd normally never tell people they should this or they shouldn't do that, but in your case, no sane person would ever suggest you marry this man and be subjected to abuse for the rest of your life.
Please make the right choice.

Best Wishes

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Kanchan

Kanchan Rai  |444 Answers  |Ask -

Relationships Expert, Mind Coach - Answered on Mar 20, 2024

Asked by Anonymous - Mar 20, 2024Hindi
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Hello..I am 36 hrs old, a doctor, got married for 2nd time in Apr 2022. My 1st marriage was with a doctor in 2011 but we hardly stayed together for 1 month since he was away in another state for higher education. Indifference arose and we got separated soon after 6 months and got divorced 5 yrs later. Then i did job on off and finally finished my post graduation in 2024. During my post graduation i wanted to desperately get married for 2nd time as my age was increasing and i was feeling very lonely and wanted to settle down n have kids. I met a guy (he too a doctor and divorced) on matrimony. He approached me. We started talking, meeting. Everything was going good. But his mother was against our relationship. In between the guy too cut the contact with me. But i was wo trully in love with him that I wanted to marry him only. Somehow we got connected again. He came to my place and we lived together. He said he can't get married so soon. He said he would marry me only of i wl get pregnant.then i got pregnant and finally he married me in temple. Soon i delivered our child and his parent's accepted me n i went to his house to stay. There we used to have lots of fights as he revealed his true nature of being extremely KANJUS. his whole family was extremely kanjus. My husbnd doesn't like to spend a single Rs too and he doesn't like it if i spend my money too. We used to have frequent fights. Then hardly after 2 months, his mother called my parents and she told them that their sje could not tolerate me and i should leave tbeor house ASAP! I became very furious as my baby was jst 4 months old. Where would i stay alone with my child as i was studying. I called police to intervene and my mother in law got very angry, she cursed me in front of police- she called me a pros***ute. (This was her thinking- any woman who marries for 2nd time is a pros***ute!!!) Finally that night around 10pm i left her house with my child and some essentials. My parents stayed with me to look after my child. My husbnd kept visiting me on weekends. But my husbnd used to avoid me, block my calls. He never paid for my daughter's expenses too. A year have been passed. I have sent my baby to my parents house 6 months back as they wanted to go back as they stay in different state. Now my husbnd has cut all the ties, he has blocked me everywhere and he never called to enquire about our child in last 8-9 months. Last time when my father called him- he said he didn't wanna stay with me and I either can keep our child with me or i can give the child to him for rest of the life. I slipped into depression after all these. I messed up in my exams. I'm so disturbed that i had thought of ending my life many times but i reminded myself about my child. Now I don't know what to do. I talked him about divorce but he said he won't give me a single Rs aftr divorce since i am also earning. My parents too don't want me to go for a divorce 2nd time in my life as they are worried- our relatives and society will shame them. I want to bring my child back but i am worried- how will i take care of my baby since i am working. Please help. Keep me anonymous please.
Ans: I'm truly sorry to hear about the challenges you're facing. It sounds like you're in a very difficult situation, but please know that there are options available to you and support systems that can help you through this.

Firstly, it's important to prioritize your and your child's safety and well-being. Given the circumstances, it might be beneficial to seek legal advice from a lawyer who specializes in family law. They can help you understand your rights and options regarding custody, child support, and divorce.

Regarding your depression, it's crucial to seek professional help. Depression is a serious condition that requires treatment, and there are therapists, counselors, and support groups available to provide you with the support you need.

In terms of bringing your child back, you may need to explore options for childcare that accommodate your work schedule. This could include hiring a nanny, enrolling your child in daycare, or seeking help from family members or friends.

As for the societal pressure and fear of judgment from relatives, remember that your well-being and your child's well-being are the most important considerations. It's essential to prioritize your own happiness and safety rather than worrying about the opinions of others.

Please don't hesitate to reach out to support services such as hotlines, counseling services, or support groups for assistance and guidance. You're not alone, and there are people who can help you navigate through this challenging time.

..Read more

Ravi

Ravi Mittal  |472 Answers  |Ask -

Dating, Relationships Expert - Answered on Oct 28, 2024

Listen
Relationship
Hi, I am not yet mairred. I used to like a man and after a month we decided to get married. He was of my caste so I thought my parents won't deny this mairrage. I used to talk to and wanted to let him know everything about my past so that we can built a strong root of our relationship. I spoke every detail of my past life to him. Then before he proposed me for mairrage I went for a vacation with my male friend to dehradun. I didn't tell him that day as he didn't proposed me till that day then why would I tell everything about me to anyone. He was noone to me at that time. After that he came to visit me in Delhi and on the same when he was on train a friend of mine along with his fiance came to meet me after a very long time. I asked him and he didn't denied. After returning home he blocked me. I cried and cried, called multiple times but he didn't received my call. Even I went to his location and waited for almost 3 hr but he didn't came. Then I asked my sister to call him. Then he talked to me but he said me so much of harsh and vulgar words that I went in shock. I cried a lot but he went on humiliating me. But somehow I convinced him to stay with me. I never talked to that friend ever. Then I told my parents about him that I want to get married with this men. Being a girl's father my father enquired about him by being annonymous. And trust me noone has said anything good about him. Later on we get to know that his father has a murder case on him of his brother in law. But then I wanted to get married. Finally my parents agreed only for my happines. Meanwhile I was never being respected by him. He always doubt me, humiliate me, abuse me mentally and physically, and when I was like I don't want to be with you he used to say sorry and begged me to be with him. He even used to restrict to visit my uncle aunty. His mother wants used to defend him and never used to make him realise that he was wrong. Then before engagement we went to Kolkata to buy dress. Yes one more thing I have informed him on the very first day that I used to drink and smoke occassionally. So whenever he used to visit me he always wanted to drink with me whether I want it or not. He always used to abuse me and humiliate me in front of everyone after drinking, so after a period of time I used to avoid drinking. Then he used to fight with me for that also that why will you not drink. In kolkata the same thing happen. We stayed there for 3 days and he was convincing to go to club from the very first day but I refused. On 3rd he hit me. After engagement his family asked for dowry. After a lot of dealing my parents agreed for an amount. But I felt betrayed. I stopped talking. After after when I initiated the conversation he picked up a fight and said he won't marry. I tried to convince. But when everyone was blaming me then I broke my silence and said everything about him to my parent. But he manipulated everything and made me villain. My parents want me to get married What should I do
Ans: Dear Akriti,
After reading your question I can only give you one advice, please do not marry him no matter what people say. Even if we overlook every other red flag that he has exhibited, abuse of any form is unacceptable. Why are you trying to convince your parents to marry a guy who hits you? Do you think you deserve it or anyone, for that matter, deserves that?
Now, no matter who tries to manipulate you, or however much they try to convince you, get out of the relationship for the love and self-respect you have for yourself. It is a big decision but in your case, it is worth making that big decision. I'd normally never tell people they should this or they shouldn't do that, but in your case, no sane person would ever suggest you marry this man and be subjected to abuse for the rest of your life.

Please make the right choice.

Best Wishes

..Read more

Anu

Anu Krishna  |1403 Answers  |Ask -

Relationships Expert, Mind Coach - Answered on Oct 10, 2024

Asked by Anonymous - Oct 10, 2024
Relationship
Hi, I am not yet mairred. I used to like a man and after a month we decided to get married. He was of my caste so I thought my parents won't deny this mairrage. I used to talk to and wanted to let him know everything about my past so that we can built a strong root of our relationship. I spoke every detail of my past life to him. Then before he proposed me for mairrage I went for a vacation with my male friend to dehradun. I didn't tell him that day as he didn't proposed me till that day then why would I tell everything about me to anyone. He was noone to me at that time. After that he came to visit me in Delhi and on the same when he was on train a friend of mine along with his fiance came to meet me after a very long time. I asked him and he didn't denied. After returning home he blocked me. I cried and cried, called multiple times but he didn't received my call. Even I went to his location and waited for almost 3 hr but he didn't came. Then I asked my sister to call him. Then he talked to me but he said me so much of harsh and vulgar words that I went in shock. I cried a lot but he went on humiliating me. But somehow I convinced him to stay with me. I never talked to that friend ever. Then I told my parents about him that I want to get married with this men. Being a girl's father my father enquired about him by being annonymous. And trust me noone has said anything good about him. Later on we get to know that his father has a murder case on him of his brother in law. But then I wanted to get married. Finally my parents agreed only for my happines. Meanwhile I was never being respected by him. He always doubt me, humiliate me, abuse me mentally and physically, and when I was like I don't want to be with you he used to say sorry and begged me to be with him. He even used to restrict to visit my uncle aunty. His mother wants used to defend him and never used to make him realise that he was wrong. Then before engagement we went to Kolkata to buy dress. Yes one more thing I have informed him on the very first day that I used to drink and smoke occassionally. So whenever he used to visit me he always wanted to drink with me whether I want it or not. He always used to abuse me and humiliate me in front of everyone after drinking, so after a period of time I used to avoid drinking. Then he used to fight with me for that also that why will you not drink. In kolkata the same thing happen. We stayed there for 3 days and he was convincing to go to club from the very first day but I refused. On 3rd he hit me. After engagement his family asked for dowry. After a lot of dealing my parents agreed for an amount. But I felt betrayed. I stopped talking. After after when I initiated the conversation he picked up a fight and said he won't marry. I tried to convince. But when everyone was blaming me then I broke my silence and said everything about him to my parent. But he manipulated everything and made me villain. My parents want me to get married as the society will insult our parents. I am getting married in November only for my parents but I have already made up my mind that I'll divorce him after 1 year of mairrage and will live my life alone. Am I thinking right? What should I do?
Ans: Dear Anonymous,
No, you are not thinking right at all...This man is all RED FLAGS...
Are you actually thinking of spending one year with a person who physically abuses you? Seriously?
And then you expect him to agree to that divorce without any fuss? What world are you in? No compromises on your life please...
Be wise and protect yourself...

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

Latest Questions
Ramalingam

Ramalingam Kalirajan  |7290 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on Dec 21, 2024

Asked by Anonymous - Dec 21, 2024Hindi
Money
Hi Sir, I follow your articles regularly and your detailed assessment is really awesome.I am 47yrs Male with wife, 20&18 years kids, elder one is in B.Tech and younger one is 12th. My wife is a home maker. Coming to financials. I have 4 houses including the one residing worth 10cr(total) and getting rental income of 70k per month, invested in stocks and MFs worth 60L, have foreign stocks of worth 1.7cr, accumulated pf around 1.3cr. I have farm lands worth 5cr. Have 1.2cr loan and salary of ~4L (net). current sips in equity 70k/month, have 5Cr term plan, health insurance for family 50L. How do I plan my retirement at 52-53years assuming 80 years life expectancy. Don't want to depend on kids and need regular income ~3-4L per month.
Ans: Asset Evaluation
Real Estate:
You own four houses worth Rs 10 crore, generating Rs 70,000 monthly rental income. This is a solid base for passive income. However, real estate can have fluctuating maintenance costs, tenant issues, and varying rental yields over time.

Stocks and Mutual Funds:
Your Rs 60 lakh investment in stocks and mutual funds is a commendable step. Active mutual funds offer professional fund management and can outperform index funds over time.

Foreign Stocks:
Your Rs 1.7 crore portfolio in foreign stocks adds geographical diversification. Monitor currency exchange fluctuations and global market trends.

Provident Fund (PF):
With Rs 1.3 crore in PF, this is a reliable retirement corpus. The fund provides fixed returns and tax benefits, adding stability.

Farm Lands:
Farm lands worth Rs 5 crore are an illiquid but valuable asset. They might not generate consistent income unless leased or developed.

Loans:
A loan liability of Rs 1.2 crore needs prioritised repayment. Focus on loans with higher interest rates first.

Insurance Coverage:
A Rs 5 crore term plan is robust. Your Rs 50 lakh health insurance is sufficient for unexpected medical emergencies.

Retirement Goals
You need Rs 3–4 lakh monthly for 27–28 years post-retirement.
The portfolio must generate steady, inflation-adjusted returns.
Action Plan for Retirement
Debt Management
Prepay High-Interest Loans:
Use a portion of your surplus income to prepay loans. This reduces interest outflow and increases your cash flow.

Avoid New Loans:
Focus on reducing existing liabilities instead of taking on new ones.

Portfolio Restructuring
Real Estate:
Retain essential properties. Sell underperforming or non-essential properties to reduce concentration in real estate. Invest proceeds in mutual funds or debt instruments for diversification.

Mutual Funds (MFs):
Increase SIPs in actively managed funds. They outperform direct funds due to guidance from Certified Financial Planners and MFDs. Regular funds offer better tracking and professional assistance.

Stocks:
Monitor direct equity investments closely. Consider reallocating underperforming stocks to mutual funds for better management.

Debt Instruments:
Invest in high-quality debt funds or fixed-income securities for stability. These instruments balance equity volatility and ensure steady returns.

SIP Strategy
Increase SIPs from Rs 70,000 to Rs 1 lakh/month.
Allocate 70% to equity funds for long-term growth.
Invest 30% in debt funds for stability and liquidity.
Emergency Fund
Maintain a 12-month expense reserve in liquid funds or fixed deposits.
This covers unexpected expenses without disturbing investments.
Income During Retirement
Systematic Withdrawal Plan (SWP)
Use SWPs in mutual funds to generate regular income.
Withdraw 6–8% annually from your mutual fund portfolio for a steady income stream.
Rental Income Optimisation
Review property rents regularly.
Invest part of rental income in equity or debt mutual funds for compounding.
Dividend Stocks
Retain high-dividend-yield stocks for regular income.
Reinvest surplus dividends for long-term growth.
Tax Efficiency
Equity Funds Taxation:
Long-term gains above Rs 1.25 lakh are taxed at 12.5%. Short-term gains are taxed at 20%.

Debt Funds Taxation:
Both short- and long-term gains are taxed per your income slab.

Real Estate Capital Gains:
Use exemptions under Sections 54 or 54F to save tax on property sales.

Inflation Protection
Allocate 60–70% of your portfolio to equity investments.

Equity provides inflation-adjusted returns over time.

Debt funds and fixed instruments safeguard against equity market volatility.

Estate Planning
Draft a will to allocate assets transparently among family members.
Use nomination and joint ownership to avoid legal complications.
Consider a family trust for farm lands to avoid disputes.
Periodic Review
Review your financial plan every six months.
Adjust investments based on market conditions, goals, and needs.
Consult a Certified Financial Planner regularly for updates.
Finally
A well-diversified portfolio ensures financial independence post-retirement. Focus on debt repayment, portfolio balance, and tax-efficient withdrawals. Your assets can comfortably generate Rs 3–4 lakh monthly income, adjusted for inflation.

Best Regards,
K. Ramalingam, MBA, CFP,

Chief Financial Planner,

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

...Read more

Kanchan

Kanchan Rai  |444 Answers  |Ask -

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

Listen
Relationship
I am the eldest sibling in our families and aged 51. Normally, whenever anyone in the family has a problem - financial, mental, psychological, issue with people or anything else, they come up to discuss with me and share. Well, many would say I am lucky as people look up to me when they are in any kind of a problem. But that is not the case. Sadly no one is around with whom I can discuss or even think to share my issues, my problems. I do not have any friends. Sadly, yes, that is a fact and at my age, I dont expect that here we have a culture where we can get to making friends, at least the kind of friends with whom you can confide, share your feelings, problems. I tried and failed. Maybe because I am introvert or maybe I am too cautious. To make it more complicated, I dont work in the regular kind of job. I am a lone person who works as a freelance from home. This limits my outreach when it comes to interacting with real people. I have clients, business contacts, but I cannot get personal with them. It will never be a good choice. My wife is busy with her job + we do not have any relation beyond the daily matters related to household and it has been more than 10 years now that we live this way. Tried to sort out things with her but she just does not have time and interest (after all who wants to add on to tensions, stress). My daughter is after all my daughter - I cannot share these with her, and definitely at 10 she is too young to be one to discuss such stuff. I am not sure how far this issue can be fixed but I am hopeful to find some path here.
Ans: Dear Kevin,
Starting small can be helpful. Consider connecting with people through shared interests or hobbies, either online or in person, where the pressure to immediately open up is minimal. Online communities, local meetups, or volunteer activities can create low-stakes opportunities to connect with like-minded individuals. The goal isn’t to instantly find someone to confide in but to slowly build a sense of belonging and companionship.

Your relationship with your wife appears to be another significant source of emotional distance. While her lack of interest in deep conversations may seem like a barrier, it’s worth exploring other ways to reconnect—perhaps by spending time together in shared activities or revisiting moments that once brought you closer. Sometimes, relationships stuck in routines benefit from new experiences or even professional counseling to navigate the underlying dynamics.

Regarding your daughter, while it’s clear she cannot shoulder your emotional burdens, she can still be a source of joy and connection. Investing time in activities with her can provide a sense of fulfillment and grounding that counters loneliness.

Above all, remember that reaching out for professional support, such as therapy, is not a sign of weakness but an act of self-care. A therapist can provide a safe space to express your feelings and help you develop strategies to foster deeper connections and manage emotional isolation.

You deserve to feel supported and connected, and even if the journey to finding that seems long, every step you take toward opening up or seeking out others is a move toward a more fulfilling and less lonely existence.

...Read more

Ramalingam

Ramalingam Kalirajan  |7290 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on Dec 21, 2024

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Money
Top4 sips with 15k amount suggest me
Ans: Here’s an updated strategy for your Rs. 15,000 SIP allocation, replacing the sectoral/thematic fund with a small-cap fund for better long-term growth potential.

Suggested SIP Allocation (Rs. 15,000)
Large-Cap Fund

Allocation: Rs. 4,000/month
Objective: Stability and steady growth by investing in India’s top 100 companies.
Why Choose: Provides consistent returns and low volatility in your portfolio.
Flexi-Cap Fund

Allocation: Rs. 4,000/month
Objective: Diversified exposure across large, mid, and small-cap stocks.
Why Choose: Offers balanced risk and returns with flexibility during market cycles.
Mid-Cap Fund

Allocation: Rs. 3,500/month
Objective: Tap into the growth potential of medium-sized companies.
Why Choose: Higher returns with manageable risk compared to small caps.
Small-Cap Fund

Allocation: Rs. 3,500/month
Objective: Focus on fast-growing small-cap companies.
Why Choose: High-growth potential over the long term, though with higher volatility.
Why Include Small-Cap Funds?
Long-Term Growth: Small-cap companies have immense potential to grow significantly over time.
Diversification: Adds exposure to an underrepresented segment, complementing large and mid-caps.
High Returns: Potential for higher returns compared to other categories, albeit with higher risk.
Key Considerations
Investment Horizon: Stay invested for at least 7-10 years to mitigate short-term volatility.
Active Fund Management: Avoid direct or index funds to leverage professional expertise.
Regular Monitoring: Review fund performance periodically with a Certified Financial Planner.
Tax Implications
Equity Funds:
LTCG above Rs. 1.25 lakh/year taxed at 12.5%.
STCG (held less than 1 year) taxed at 20%.
Final Insights
This updated allocation ensures a mix of stability, moderate risk, and high growth. With consistent SIPs and periodic reviews, you can achieve robust wealth creation over the long term. A Certified Financial Planner can assist in optimising your investment strategy.

Best Regards,

K. Ramalingam, MBA, CFP,

Chief Financial Planner,

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

...Read more

Ramalingam

Ramalingam Kalirajan  |7290 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on Dec 21, 2024

Asked by Anonymous - Dec 20, 2024Hindi
Money
Hi Sir I come from a middle class family and my parents have dedicated everything they have into my education and upbringing. Now they plan to retire and i am finally at 30 in a stanle career where i make approximately 1,20,000 per month. I have a savings of approximately 2,00,000 that i want to invest into my parents retirement. We are NRI's and my parents will be returning back to India soon. I have 0 kmowledge about investments. As per what my friends advised, I have come to the following solutions: 1. Open an FD for both my parents seperately of 50000 Rs each for 5 years with their respective banks 2. Choose the Bajaj Allianz Smart Wealth Goal V SIP and invest approximately 24000 annually for 5 years, withdrawing it at 7 years. 3. Choose the TATA AIA Smart SIP wealth secure and invest 60000 Rs annually for 10 years, withdrawing it at the end of the same duration. Along with the above, I also plan to invest 40000 Rs annually into their Medical health insurance. Now as an NRI, and not having any knowledge about investing or TAX, could you help me with the above investments and how i would have to go about with TAX policies in India. Thank you
Ans: Your dedication to supporting your parents’ retirement is truly admirable. As an NRI with limited investment knowledge, making informed decisions will ensure financial stability for your parents. Let's assess and optimise your proposed plan while incorporating better strategies.

Evaluating the Current Plan
Fixed Deposit for Both Parents
Strengths: Fixed deposits (FDs) are safe and offer guaranteed returns.
Limitations: FD returns in India often fail to outpace inflation. Senior citizens get slightly higher interest rates.

Bajaj Allianz Smart Wealth Goal SIP
Overview: Likely a ULIP (insurance cum investment product). Combines life insurance with investments.
Limitations: ULIPs have high charges (administration and premium allocation fees). Returns are often lower compared to mutual funds.
Taxation: ULIPs are tax-efficient but lack transparency and flexibility.
TATA AIA Smart SIP Wealth Secure
Overview: Another ULIP-based product with insurance and investment components.
Limitations: Similar to the Bajaj Allianz plan, it has high costs and lower returns.
Taxation: Tax benefits under Section 80C but limited withdrawal flexibility.
Medical Health Insurance for Parents
Strengths: Investing in health insurance for your parents is a wise decision.
Suggestions: Opt for a plan with sufficient coverage, including critical illness and cashless claims.
Suggested Optimised Financial Plan
Step 1: Replace ULIPs with Equity Mutual Funds
Reason: Equity mutual funds provide higher returns compared to ULIPs.
Benefits: Actively managed funds offer better growth, diversification, and lower charges.
SIP Strategy: Start a SIP for Rs. 5,000 monthly (Rs. 60,000 annually) for 10 years.
Taxation: Equity LTCG above Rs. 1.25 lakh taxed at 12.5%; STCG taxed at 20%.
Step 2: Invest in Debt Mutual Funds
Reason: Debt funds offer better returns than FDs and are tax-efficient.
Allocation: Invest Rs. 1 lakh in short-duration or dynamic bond funds.
Taxation: LTCG and STCG on debt funds are taxed as per the income tax slab.
Step 3: Build an Emergency Fund
Importance: Allocate Rs. 50,000 to a liquid fund or short-term FD.
Purpose: This fund will cover unexpected medical or living expenses.
Step 4: Continue Health Insurance for Parents
Annual Premium: Rs. 40,000 annually is reasonable for comprehensive coverage.
Suggestions: Include riders like critical illness and hospital cash benefits.
Step 5: Diversify Using Sovereign Gold Bonds (SGBs)
Reason: SGBs are low-risk, inflation-proof, and provide 2.5% annual interest.
Allocation: Invest Rs. 50,000 into SGBs.
Taxation: Interest is taxable, but capital gains on redemption are tax-free.
SGBs are not available for NRIs.

Tax Implications for NRIs
Better Returns: Shift to equity and debt mutual funds for inflation-beating growth.
Tax Efficiency: Use tax-saving instruments and avoid high-tax liabilities on ULIPs.
Flexibility: Mutual funds and SGBs provide better liquidity and transparency.
Secure Future: Health insurance ensures medical expenses are not a financial burden.
Final Insights
Your proposed plan can be significantly improved with better investment choices. Focus on mutual funds, health insurance, and SGBs for long-term financial stability. Avoid ULIPs as they come with high costs and limited returns. With these steps, you can ensure a secure and comfortable retirement for your parents.

Best Regards,

K. Ramalingam, MBA, CFP,

Chief Financial Planner,

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

...Read more

Ramalingam

Ramalingam Kalirajan  |7290 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on Dec 21, 2024

Asked by Anonymous - Dec 20, 2024Hindi
Money
I am a 40 year old male married with no kids working in an IT company, my current portfolio consist of 1 apartment in Bangalore (home loan is completed), 1 site in my hometown worth 1 Cr, 8 lakh in SGB, 6 lakh in stocks, 6 lakh in ppf, 26 lakh in PF, 3.5 lakh in NPS In order to retire comfortably at the age of 50 i want to invest in such a way that my monthly income/pension should be 2.5 lakh Please provide some financial advice to me to achieve my goal.
Ans: You have a solid starting point with your existing portfolio. However, achieving your goal of Rs. 2.5 lakh monthly income at retirement will require meticulous planning and disciplined investing. Here's a detailed roadmap tailored to your needs.

Assessing Your Current Portfolio
Real Estate Assets

One apartment (home loan cleared) provides potential rental income.
A site in your hometown worth Rs. 1 crore is currently a non-productive asset.
Financial Assets

Sovereign Gold Bonds (SGB): Rs. 8 lakh, offering stable interest and appreciation.
Stocks: Rs. 6 lakh in equities for long-term growth.
PPF: Rs. 6 lakh, offering safe and tax-free returns.
Provident Fund (PF): Rs. 26 lakh, providing stability and regular growth.
NPS: Rs. 3.5 lakh, adding to your retirement corpus.
Your total financial assets stand at Rs. 49.5 lakh.

Retirement Goal Analysis
Desired Income: Rs. 2.5 lakh per month or Rs. 30 lakh per year.
Investment Horizon: 10 years until age 50.
Inflation Impact: Adjust the target corpus for inflation to sustain your lifestyle.
Risk Profile: Balance between growth-focused and stable investments.
Recommended Investment Strategy
Step 1: Determine Your Retirement Corpus
For a Rs. 2.5 lakh monthly income, your corpus should sustain withdrawals for 30+ years.
Factor in inflation-adjusted growth to ensure purchasing power.
Step 2: Allocate Current Portfolio Effectively
Utilise Non-Performing Real Estate Assets

Sell the site worth Rs. 1 crore in your hometown.
Invest proceeds into a diversified portfolio for growth.
Avoid retaining illiquid assets without income generation.
Maximise Equity Investments

Increase equity exposure for long-term growth.
Invest in actively managed funds for better performance over index funds.
Regular funds through an MFD with CFP credentials offer professional oversight.
Leverage PPF and PF Contributions

Continue contributions to PPF for safe, tax-free returns.
Retain PF contributions to build a stable retirement corpus.
Optimise NPS Investments

Shift to a higher equity allocation within NPS for better growth.
NPS provides tax-efficient returns and retirement income options.
Step 3: Start a Systematic Investment Plan (SIP)
Monthly SIP Amount: Invest aggressively over the next 10 years.
Fund Selection: Choose equity mutual funds with a proven track record.
Taxation: Equity LTCG above Rs. 1.25 lakh taxed at 12.5%; STCG taxed at 20%.
Step 4: Create a Diversified Portfolio
Equity Mutual Funds

Allocate 60%-70% to actively managed equity funds.
Focus on large-cap, flexi-cap, and mid-cap funds for diversification.
Debt Instruments

Allocate 20%-30% to debt funds for stability.
Include corporate bonds and dynamic bond funds for better yields.
Gold Investments

Retain existing SGBs for stability and hedge against inflation.
Emergency Fund

Maintain 6-12 months of expenses in liquid funds or fixed deposits.
Step 5: Increase Income Generation from Existing Assets
Rental Income
Rent out your apartment in Bangalore for additional cash flow.
Use rental income to supplement SIP investments.
Key Considerations
Taxation and Efficiency
Keep your tax liability in mind while planning withdrawals.
Diversify investments to optimise post-tax returns.
Periodic Review of Investments
Monitor portfolio performance regularly.
Rebalance asset allocation based on market conditions.
Seek guidance from a Certified Financial Planner for fine-tuning.
Final Insights
Your goal of Rs. 2.5 lakh monthly income is ambitious but achievable. Selling non-performing assets and investing aggressively will create a strong retirement corpus. Maintain discipline in SIP contributions and periodically review your investments. With this approach, you can enjoy financial freedom at 50.

Best Regards,

K. Ramalingam, MBA, CFP,

Chief Financial Planner,

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

...Read more

Ramalingam

Ramalingam Kalirajan  |7290 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on Dec 21, 2024

Asked by Anonymous - Dec 20, 2024Hindi
Money
I have a debt of 1 crore 15 lakhs with rate of interest 8.6 % and I can pay 10 lakh yearly in addition to my EMI's. Is it better to invest those 10 lakhs in SIP or Pre-pay my loan and clear debt or wait till the SIP matures and use that lump sum to pay the loan?
Ans: You are in a financially challenging yet manageable situation. The right decision will depend on a careful assessment of your goals and circumstances. Here's a detailed evaluation of the two options: prepaying your loan versus investing in SIPs.

Key Factors to Consider
Interest Cost on Loan

Your loan interest rate of 8.6% is substantial.
The interest cost accumulates if the loan tenure is long.
Prepaying can save interest and reduce loan tenure.
Potential SIP Returns

SIPs in actively managed equity mutual funds can yield 10%-12% annually over the long term.
The returns are market-linked and not guaranteed.
Market volatility impacts short-term results.
Liquidity Needs

Prepaying reduces debt but locks funds.
SIPs provide liquidity for emergencies or goals.
Tax Implications

No tax benefit for loan prepayment beyond the Rs. 2 lakh interest deduction in housing loans (if applicable).
SIP investments in equity mutual funds have specific capital gains tax rules.
Benefits of Loan Prepayment
Lower Interest Burden

Immediate reduction in the interest portion of EMI.
Reduces overall debt faster.
Psychological Relief

Eliminates financial stress of a high loan.
Provides peace of mind with reduced liabilities.
Guaranteed Savings

Savings on interest is assured and risk-free.
Benefits of SIP Investment
Potential Wealth Creation

Long-term equity SIPs can outpace loan interest rates.
Compounding benefits enhance returns over time.
Flexibility

SIPs offer systematic withdrawal plans for liquidity.
Funds remain accessible during emergencies.
Diversification

Investments grow alongside other assets, increasing net worth.
Assessing the 360° Perspective
Debt and Emotional Comfort

A Rs. 1.15 crore debt can cause financial and emotional strain.
If reducing stress is your priority, prepayment is preferable.
Investment Risk Appetite

SIPs suit those willing to accept market volatility for higher returns.
If you dislike risk, prioritize prepayment.
Long-Term Financial Goals

Use SIPs for retirement, children’s education, or other life goals.
Prepaying helps if clearing debt is your primary focus.
Income Stability

Regular income supports SIPs without disrupting EMI payments.
Uncertainty in earnings favors prepayment.
Tax Considerations in Detail
Loan Prepayment

Offers no additional tax benefits after claiming the Rs. 2 lakh housing loan interest deduction.
SIP Investment

Gains above Rs. 1.25 lakh in equity funds are taxed at 12.5% (LTCG).
Short-term gains are taxed at 20%.
Debt funds are taxed as per your income slab.
Hybrid Approach: The Best of Both Worlds
Split the Rs. 10 lakh yearly allocation into two parts.

Use Rs. 5 lakh to prepay the loan.
Invest the remaining Rs. 5 lakh in SIPs.
This strategy balances debt reduction and wealth creation.

Reduces debt steadily.
Allows market participation for higher returns.
When to Prioritise Loan Prepayment?
If you prefer guaranteed savings over potential market returns.
When nearing retirement and aiming for a debt-free life.
If financial stress is affecting your well-being.
When to Prioritise SIP Investments?
If you are comfortable with market fluctuations.
When your income can comfortably handle EMIs.
If long-term wealth creation is a key goal.
Key Recommendations for SIP Investments
Actively Managed Equity Funds

Seek funds with a consistent track record.
Regular plans via an experienced CFP provide expert guidance.
Avoid Index Funds

Actively managed funds outperform index funds in volatile markets.
Index funds lack flexibility and personalization.
Use Regular Funds Through an MFD

Avoid direct plans as they lack personalized advice.
MFDs with CFP credentials help in fund selection and monitoring.
Benefits of Splitting Investments
Balances debt reduction and growth.
Provides flexibility if circumstances change.
Reduces risk from overexposure to one strategy.
Final Insights
The decision depends on your priorities and risk tolerance. If reducing debt quickly offers peace of mind, prepay the loan. If long-term wealth creation aligns with your goals, consider SIPs. A hybrid approach balances these objectives effectively.

You are taking proactive steps toward financial freedom. Your disciplined approach ensures a secure financial future.

Best Regards,

K. Ramalingam, MBA, CFP,

Chief Financial Planner,

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

...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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