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Sanjeev Govila |458 Answers |Ask -Follow

Financial Planner - Answered on Feb 15, 2023

Colonel Sanjeev Govila (retd) is the founder of Hum Fauji Initiatives, a financial planning company dedicated to the armed forces personnel and their families.
He has over 12 years of experience in financial planning and is a SEBI certified registered investment advisor; he is also accredited with AMFI and IRDA.... more

Question by Binay on Feb 15, 2023Hindi

Money

Hi, My gross salary is 1204260, paying home EMI - 19400 pm and a health medical insurance of 16780 annually. please advice, currently using old tax regime. Thanks

Ans: It seems that the old tax remine will be better for you. Still, to be in the safer side, do check it here yourself please: https://cleartax.in/paytax/taxcalculator

DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Users are advised to pursue the information provided by the rediffGURU only as a source of information to be as a point of reference and to rely on their own judgement when making a decision.

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Mihir Tanna |801 Answers |Ask -Follow

Tax Expert - Answered on Feb 23, 2023

Question by Binay - Feb 05, 2023Hindi

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Hi, My gross salary is 1204260, paying home EMI - 19400 pm and a health medical insurance of 16780 annually. please advice, currently using old tax regime. Thanks

Ans: As you are taking benefits of Rs.2.49 lakhs, new tax regime is likely to be beneficial as per budget proposed for FY 2023-24

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Asked by Anonymous - Mar 17, 2023Hindi

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Hi my salary annualy is 15 lakh. which tax regime should i opt for ?

Ans: Person earning income from salary, repaying housing loan interest of Rs.200000, taking deduction of 1.5 lacs and mediclaim of 12000; likely save tax under old tax regime

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Question by SAM - Mar 17, 2023Hindi

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Hi my salary annualy is 15 lakh. which tax regime should i opt for?i I have home loan,80c 1.5 lakh and health insurance 12000annually

Ans: Person earning income from salary, repaying housing loan interest of Rs.200000, taking deduction of 1.5 lacs and mediclaim of 12000; likely save tax under old tax regime

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Question by Narendra - Apr 12, 2023Hindi

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I earn 1200000 per annum. I am paying home rent 180000 per annum, have a deduction in ELSS 150000, mediclaim of 28000. which tax regime will be better for me. please advise. Thanks... Narendra S Pandit.

Ans: Person having income from salary can take deduction of rent depending on HRA included in salary structure. Based on available facts, new scheme is likely to be beneficial for FY 2023-24, however, you can compare tax liability under both regime at https://incometaxindia.gov.in/Pages/tools/115bac-tax-calculator-finance-bill-2023.aspx

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Question by monish - Apr 13, 2023Hindi

Money

Hi, my salary is 15 lakhs per annum , 1.5 lkhs investment in 80c , 25,000 medical insurance. Which tax regime i should opt for ?

Ans: New scheme is likely to beneficial for FY 2023-24.

You can compare the tax liability under both regime at https://incometaxindia.gov.in/Pages/tools/115bac-tax-calculator-finance-bill-2023.aspx

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Ramalingam Kalirajan |871 Answers |Ask -Follow

Mutual Funds, Financial Planning Expert - Answered on Apr 26, 2024

Question by Geo - Apr 25, 2024Hindi

Money

Hi Sir, I hope you're doing well. I have a question that I think you might be able to assist me with. I'm 52 years old and currently need to plan for my children's education expenses. My elder child's education is ongoing and requires 10 lakhs, while my younger child will require 30 lakhs in two years. Here's a breakdown of my investments: Stocks, Mutual Funds, and Portfolio Management Services amount to 2.6 crores, and I have 40 lakhs in my Provident Fund. I also receive a monthly rent of 2 lakhs. If I estimate my monthly expenses at 1 lakh, do you think I can retire comfortably with this corpus? In the worst-case scenario, I can liquidate one of my properties, which could yield 3 crores. Ideally, I would like to retire without touching my real estate investments. My life expectancy is 85 years. Additionally, I have medical insurance coverage of 12 lakhs plus a top-up of 90 lakhs. I plan to travel twice a year during retirement, with an estimated expenditure of 1.5-2 lakhs per year. I would appreciate your insights on this matter. Thank you, Geo

Ans: Firstly, it's heartening to see your foresight in planning for your children's education and thinking ahead towards retirement. Your financial situation seems quite robust, and you've made commendable progress with your investments.

Let's delve into your retirement planning. With a corpus of 2.6 crores in stocks, mutual funds, and Portfolio Management Services, along with 40 lakhs in Provident Fund, you have a substantial base. Adding your monthly rent of 2 lakhs and estimating monthly expenses at 1 lakh, your current financial position appears promising.

Considering your monthly rental income and your expenses, you seem to have a surplus that could be redirected towards your children's education and retirement corpus. However, it's essential to factor in inflation and potential market fluctuations.

Your medical insurance coverage looks solid, providing a safety net for unforeseen medical expenses. Moreover, your travel plans are well within reach, considering your retirement aspirations.

Given your life expectancy of 85 years, you'll need to ensure that your corpus lasts throughout your retired life. With prudent planning and regular reviews, it's possible to achieve a comfortable retirement without liquidating your real estate investments.

Here are some suggestions:

Education Corpus: Allocate funds specifically for your children's education to ensure timely payments.
Retirement Corpus: Continue to invest and diversify your portfolio to beat inflation and safeguard against market volatility.
Real Estate: If possible, retain your properties as a safety net or as a source of passive income.
It would be beneficial to have a detailed one-on-one discussion with a certified financial planner to create a tailored financial roadmap for you. You can explore various scenarios, optimize your investment strategy, and ensure you retire comfortably without compromising on your aspirations. Please feel free to reach out to me for any follow-up questions.

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Ramalingam Kalirajan |871 Answers |Ask -Follow

Mutual Funds, Financial Planning Expert - Answered on Apr 26, 2024

Asked by Anonymous - Apr 25, 2024Hindi

Money

Hello sir, I have started investing recently through monthly SIPs of Rs.5000 in ICICI equity and debt fund, Rs.6000 in Bandhan Elss fund, Rs.7500 in UTI Nifty 50, Rs.5000 in Parag Parikh Flexi cap, Rs.2000 in Mirae Asset Large Cap and Rs.1500 in kotak Flexi cap Also, I have 300000 in PPF. And I am planning to invest 150000 yearly in it and 2.18 lakh already invested in ELSS funds since the last 3 years and their XIRR is 15.10% today. How much return I can expect in 15 years? What changes I should do in my portfolio?

Ans: It's commendable to see your proactive approach towards investing. Your portfolio showcases a balanced mix across equity, debt, and tax-saving instruments, which is a good start.

Now, looking ahead 15 years is a bit like gazing into a crystal ball. The returns you can expect will depend on various factors like market conditions, fund performance, and economic trends. While past performance can give us some insights, it's not a guarantee of future returns.

Your current XIRR of 15.10% from ELSS funds over three years is a positive sign. This suggests that your investments are performing reasonably well.

As for the PPF and the SIPs, they're both solid choices for long-term investing. PPF offers tax-free returns and has a guaranteed interest rate, while SIPs provide the benefit of rupee-cost averaging and potential market-linked returns.

However, to optimise your portfolio further, we might consider:

Diversification: Ensure a broader asset allocation across various fund categories.
Review and Rebalance: Periodically review and rebalance your portfolio to align with your goals and risk tolerance.
Tax Efficiency: Keep an eye on tax implications to maximise post-tax returns.
Given the dynamic nature of markets, it's essential to review and adjust your portfolio periodically.

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Ramalingam Kalirajan |871 Answers |Ask -Follow

Mutual Funds, Financial Planning Expert - Answered on Apr 26, 2024

Asked by Anonymous - Apr 25, 2024Hindi

Money

Ramalingam Kalirajan in which mutual funds have you currently invested?

Ans: I completely understand your curiosity, but as a Certified Financial Planner, I believe in the utmost confidentiality when it comes to my clients' portfolios. Each person's financial situation, goals, and risk tolerance are unique, requiring a customised approach.

Mutual fund selection is not a one-size-fits-all scenario. It's much like selecting ingredients for a recipe; what works wonders for one might not suit another. Personalised guidance allows us to tailor investments that align with your specific needs, aspirations, and financial landscape.

When we meet, I'll take the time to understand your goals, assess your risk appetite, and then recommend mutual funds or other investment avenues that could be a good fit for you. Our one-on-one discussion will enable us to craft an investment strategy that's not just about numbers but also about understanding and aligning with your life's philosophy and goals.

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Ramalingam Kalirajan |871 Answers |Ask -Follow

Mutual Funds, Financial Planning Expert - Answered on Apr 26, 2024

Question by Nilay - Apr 25, 2024Hindi

Money

Hello sir, I need to invest around 30-35k a month, can you please suggest good SIPs, ELSS funds. I can connect with you and pay the fees too. Please provide your contact details

Ans: It's wonderful to hear that you're considering investing regularly. Investing is like planting seeds; with care and patience, they grow into strong trees providing shade for years to come. When you think about the future, isn't it reassuring to know you're taking steps to nurture it?

SIPs (Systematic Investment Plans) and ELSS (Equity Linked Saving Schemes) can indeed be great avenues to consider. SIPs allow you to invest small amounts regularly, making it manageable and less intimidating. ELSS funds, on the other hand, not only offer potential growth but also provide tax benefits, which can be a boon.

As a Certified Financial Planner, my aim is to guide you towards choices that align with your goals and risk tolerance. We'll delve into your aspirations, understand your financial landscape, and choose options that resonate with your journey. It's a partnership where your dreams and our expertise converge.

I appreciate your trust and willingness to connect. Let's embark on this financial journey together. You can reach me at the details provided in my profile https://gurus.rediff.com/question/guru/ramalingam-kalirajan/137

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Komal Jethmalani |303 Answers |Ask -Follow

Dietician, Diabetes Expert - Answered on Apr 26, 2024

Question by Kiran - Mar 06, 2024Hindi

Health

My fasting sugar normally 120 to 130 & post meal sugar 170 to 180. How I maintain sugar level?

Ans: Your fasting blood sugar levels are out of range. Adopt lifestyle modifications like following balanced diet including complex carbohydrates like whole grains (brown rice, quinoa, oats), legumes, and vegetables, healthy fats like avocados, nuts, and olive oil, lean proteins like fish, poultry, tofu, and beans. Avoid refined, sugary ,high fat, fast foods etc. Stay physically active. Regular exercise improves insulin sensitivity and helps manage blood sugar levels. Aim for at least 150 minutes of moderate-intensity aerobic activity per week.

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Dietician, Diabetes Expert - Answered on Apr 26, 2024

Question by Balkrishna - Mar 06, 2024Hindi

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I m 67 years age and my hba1c is 10.2 and fasting sugar is 243 I m taking insulin 12 units of Novo Rapid flexi pen 3 times In a day morning, afternoon and night before food and Toujio 12 units at 5 pm.

Ans: It is advisable to consult your physician about your insulin dosage as your blood sugar levels are very out of range. Dietary modifications can include foods like complex carbohydrates like whole grains (brown rice, quinoa, oats), legumes, and vegetables. Include healthy fats like avocados, nuts, and olive oil and lean proteins like fish, poultry, tofu, and beans. Limit sugary foods, refined carbs, and saturated fats and stay physically active.

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Komal Jethmalani |303 Answers |Ask -Follow

Dietician, Diabetes Expert - Answered on Apr 26, 2024

Asked by Anonymous - Mar 06, 2024Hindi

Health

I m 51 yrs old...my hba1c is 5.3..i want to get it lower still...i m vegetarian and veryyyyy fit woman but underweight Anyway to put on lil weight and not hba1c rise

Ans: An HbA1c level of 5.3 is absolutely normal. To increase body weight, focus on weight training to increase lean mass. Follow a regular muscular training regimen under professional guidance and have a high protein diet including lean protein foods like fish, chicken, egg whites, beans, low fat dairy products, soy products, etc. This will keep your blood sugar levels under control.

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Komal Jethmalani |303 Answers |Ask -Follow

Dietician, Diabetes Expert - Answered on Apr 26, 2024

Asked by Anonymous - Mar 06, 2024Hindi

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I have minimal intake of sugar and sweet items, processed foods and carbohydrates. Yet my fasting sugar remains around 125 and it takes much more than the standard 2 hours for the blood glucose level to fall below 140 after a main meal. I am 77 but active and in otherwise good health. Except TSH of around 8.5 and A1c of 6.7. Any suggestions for me?

Ans: It would be advisable to consult your family physician for medical advise. However, dietary changes can be followed by consuming a high fiber diet including vegetables, whole grains, beans, etc. Avoid sugary and refined foods. Include healthy fats like avocados, nuts, and olive oil and lean proteins like fish, poultry, tofu, and beans. Have regular meals and remain physically active.

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Komal Jethmalani |303 Answers |Ask -Follow

Dietician, Diabetes Expert - Answered on Apr 26, 2024

Asked by Anonymous - Mar 06, 2024Hindi

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Hi. My mother is 63 year old who is a diabetic and is on her medicines. For past 2 weeks, her sugar level has increased which is 350 fasting and 480 pp. It's not getting under control. She does want to take insulin. Pls help how to control it.

Ans: For such out of range blood sugar levels, it is advisable to take medication or insulin as advised by your family physician. Monitor her diet with low carbohydrate and high fiber foods like whole grains, vegetables, beans, etc. Avoid refined foods, fruit juices, sugary foods, etc. Lean protein foods like beans, low fat dairy products, egg whites will blunt the glycemic index. Make sure she remains physically active.

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Komal Jethmalani |303 Answers |Ask -Follow

Dietician, Diabetes Expert - Answered on Apr 26, 2024

Question by Vijayaraghavan - Mar 18, 2024Hindi

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What are the fruits and vegetables advised for a person of 70 years of age who has crossed in to diabetic state from prediabetic, to keep down the sugar levels and avoid medicines?

Ans: The dietary recommendations to help stabilize blood sugar levels and promote overall health include high fiber vegetables like green leafy and other vegetables, brussels sprouts etc are excellent choices. They provide fiber, vitamins, and minerals while helping control blood sugar. Fruits that are rich in nutrients and fiber are oranges, grapefruits, guava, apples, clementines, etc are high in vitamin C, folate, and potassium. To monitor blood sugar levels, have a high fiber, low carbohydrate, low fat and moderate protein diet. Avoid refined foods, alcohol, sugary foods, etc. Adopt a regular exercise regimen.

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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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