Madam, I am 61 years old , retired from Govt service an year ago. I have a problem in my family. Though my wife is a post graduate, she refused to take up any Job and wants all others including her in laws to give her money eternally. Misbehaved with my parents & sent them out of our house for their supposed conservative style and refused to allow my sisters family on a visit and quarreled with me on this ground time & again. She quarrels with me on silly issues loudly infront of kids. She reflects her mother`s attitude in dealing with my parents & relatives. Later She re-started her love affair with her ex lover . Fed up with quarrels at home and keep her away from unwarranted affairs, I decided to go abroad and took her also with me with our 2 daughters. There again, she started another illicit affair with my classmate cum colleague (whom i knew for 2 decades and i treated like a brother and was already married with kids). After 18 months of secret affair , behind me, they finally disclosed and wanted to elope leaving their families behind. Stunned by their ghastly betrayal , I sent my family back to India and also reported the matter to boss, who repatriated that Traitor back. I had to forgive my wife for sake of my Daughters who were aged 12 yrs and 9 yrs then. I am unable to come to terms with their ghastly actions though 2 decades have since passed. We sleep in separate rooms and I have no physical relation with her, ever since as our marriage is over for all purposes. I believe that mutual Trust & respect are the foundations of any marriage. Both are lost in our case. Now my daughters aged 31, 29 are Post graduates but are sitting idle at home wasting time in TV and refuse to do any job as their mother keeps telling them why should women work ?. They refuse to receive any external counselling nor willing to get married nor take up a job nor pursue any studies. They are financially dependent on me. I am now retired and live on Govt Pension. They refuse to understand the reality around them. They have no friend either in Relatives or in their college circles. What to do with their Intransigence? .

Ans: Hello Shreya
With the mentioned percentile and category, chances are less to get a seat in 1st round. But in subsequent rounds, chance are there but you have to compromise the branch. But surely your son will get a seat in one of IIITs if you wish so. Best of luck to your son.
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Radheshyam

Ans: Current Financial Position Overview

You are 33 years old. This gives you time for strong wealth creation.

 

Your take-home income is Rs. 90,000 per month. That is a decent and stable income.

 

You already built an emergency fund of Rs. 5 lakh. That’s a very wise step.

 

You hold Rs. 5 lakh in savings and Rs. 6 lakh in gold.

 

Your current SIP is Rs. 2,000 per month. That is a small start. Can be improved.

 

You have an outstanding home loan of Rs. 22 lakh.

 

You are considering using both gold and savings for part loan prepayment.

 

Understanding Your Home Loan Burden

Outstanding home loan is Rs. 22 lakh. That is a moderate liability at your age.

 

Loan EMIs take a regular share of monthly income.

 

Reducing this EMI outflow can increase future savings potential.

 

Prepaying a home loan reduces your total interest payout.

 

However, every rupee paid off now also reduces liquidity and long-term investment power.

 

Should You Use Rs. 5 Lakh Savings for Prepayment?

This amount is outside your emergency fund. So using it is okay.

 

Prepaying with these savings will lower your debt faster.

 

But ensure at least 6 months' expenses are untouched as emergency reserve.

 

If Rs. 5 lakh is not touching that reserve, you can safely use it.

 

You will save more interest than a bank FD will earn.

 

So, this prepayment move is logical and timely.

 

Assessing the Role of Gold in Your Financial Plan

You own gold worth Rs. 6 lakh. Gold is not an income-generating asset.

 

It just sits idle. It has long-term volatility and low cash flow potential.

 

Emotionally, gold feels like security. But financially, it blocks growth.

 

If not meant for marriage or specific purpose, it can be monetised.

 

Selling gold now can help reduce interest-bearing debt.

 

This step will improve your monthly cash flow later.

 

Gold price is reasonably high now. So you may exit at a good value.

 

You can always rebuild small gold exposure later through SIP in gold funds.

 

Physical gold involves storage, insurance, and no return unless sold.

 

Benefits of Home Loan Prepayment with Gold and Savings

Less loan balance means fewer EMI months.

 

Faster freedom from debt builds confidence and improves future planning.

 

Your net worth improves as liabilities reduce.

 

You may also qualify for better interest rates post part-payment.

 

Once loan is cleared faster, that EMI money can move to investments.

 

But do check prepayment charges with your bank.

 

What to Do with EMI Savings After Prepayment?

Redirect EMI savings into SIPs in mutual funds.

 

This builds wealth over 7–10 years for long-term goals.

 

Begin with Rs. 5,000 and gradually increase SIP to Rs. 10,000 or more.

 

Follow a disciplined investment plan aligned with your financial goals.

 

Choose regular plans through MFDs with Certified Financial Planner guidance.

 

Avoid Direct Plans – Here’s Why

Direct plans skip advisor fees. But they skip advice too.

 

Choosing funds without expert help is risky and confusing.

 

You may pick based on short-term returns. That leads to wrong timing.

 

Regular plan through MFD linked to a Certified Financial Planner gives full support.

 

Portfolio review, goal tracking, asset mix – all managed in one place.

 

In long run, this adds more value than you save on costs.

 

Build SIP Discipline After Prepayment

Your SIP now is Rs. 2,000. It is too low for wealth creation.

 

Use Rs. 10,000–15,000 of EMI money post prepayment for monthly SIPs.

 

Invest in 3 or 4 well-diversified mutual fund schemes.

 

Focus more on actively managed funds than passive or index funds.

 

Index funds lack downside protection during market falls.

 

Active funds with good track record can manage volatility better.

 

Emergency Fund Review

Rs. 5 lakh emergency fund is adequate now.

 

You must ensure it is parked in liquid or ultra-short mutual funds.

 

Avoid FDs for this. Returns are low and access is not instant.

 

Never use emergency fund for investments or loan prepayment.

 

Keep it untouched and always ready.

 

Insurance – The Silent Guardian

Do you have term insurance? It’s a must at your age.

 

Ideally 15 to 20 times of annual income is needed.

 

Also ensure a health cover of minimum Rs. 5 lakh.

 

Without protection, wealth building is like driving without brakes.

 

Loan Prepayment or Investment – A Quick Comparison

Prepaying a home loan gives fixed benefit by reducing interest outgo.

 

Investing in mutual funds may offer higher returns. But with risk.

 

At your current age, blending both is a balanced strategy.

 

Prepay now using gold and savings. Then, increase monthly SIPs.

 

This way, both wealth and peace of mind grow together.

 

Avoid These Mistakes

Don’t break emergency fund for prepayment.

 

Don’t sell gold if it is earmarked for family needs.

 

Don’t stop SIPs completely to prepay loan.

 

Don’t delay term and health insurance decisions.

 

Don’t invest in real estate now to build wealth.

 

Don’t fall for stock tips or short-term returns.

 

Create a Post-Loan Financial Vision

Once the loan is reduced or closed, your EMI amount becomes investable.

 

Use that extra monthly cash to grow wealth slowly.

 

Stick to long-term goals and don’t change funds often.

 

Keep a goal-based investment mindset.

 

Review progress once a year with a Certified Financial Planner.

 

Finally

You are doing well. At 33, you have made smart financial moves.

 

Emergency fund, savings, home loan discipline – you are on the right path.

 

Selling gold and using savings for part-prepayment makes good sense now.

 

But remember, don’t touch the emergency buffer.

 

After prepayment, increase SIPs step-by-step.

 

Use regular mutual funds through MFDs guided by a Certified Financial Planner.

 

Your wealth will grow with less pressure, more control, and better clarity.

 

Focus on both financial protection and freedom.

 

Best Regards,
K. Ramalingam, MBA, CFP,
Chief Financial Planner,
www.holisticinvestment.in
https://www.youtube.com/@HolisticInvestment

Ans: Prefer Thapar-ECE. All the best for your son's future!

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Ans: Hello Dear
You did not mention home state. With the mentioned score, there are fewer chances to get a seat in NITs or IIITs. Please try in a reputed private engineering college of your home state with the preferred branch. Best of luck to you.
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Radheshyam

Ans: Hi Saras,

Firstly sorry to hear about your son's health. I can only hope and pray that the situation improves.

As you have retired and your monthly expenses of 35000 is well within the income you are receiving and at the same time you have ongoing investments of 45000 monthly, your accumulations are growing.

So as far as you are concerned it seems like you will be adding to the corpus you already have. But with inflation your monthly expenses will increase and also more importantly your medical expenses will rise. So this becomes important to be managed with your corpus.

It is important to assess the portfolio from 3 perspectives - liquidity, stability and growth.
Liquidity is important to cover any unexpected or unplanned event requiring money immediately or with a short span of time.
Stability is important to weather market conditions and provide security for continuous and steady cashflow.
Growth is also important as you are looking at a long time to live on the money you have accumulated/invested and overcome inflation value.

As you have a mix of FD, Post office schemes, Insurance plans and Mutual funds, it is important to evaluate the portfolio from the above perspectives and realign it for your requirement for future.

Insurance plans (assuming they are insurance + investment product) can be good option when you are working/earning, but once you have retired, they may not be ideal option for investments. So the Insurance plans need to be reviewed and then decided on. If you have taken them many years ago and they are nearing maturity then, wait and collect maturity benefits. If they are more recently purchased and their maturity will be after a very long period, then they won't be ideal for you.

FD's, PO schemes and Mutual funds are a good combination. Overall the corpus with investments and incomes seen seem to be fine but a detailed analysis is required.

I would suggest you contact a CFP/Financial advisor who will guide you. Choose a fee based advisor who is not pushing any products.

Thanks & Regards
Janak Patel
Certified Financial Planner.

Ans: Understanding Your Financial Base

Your monthly income is Rs. 60,000. That gives a strong starting point.

?

Personal expenses are around Rs. 10,000. That leaves Rs. 50,000 for savings.

?

You already invest Rs. 9,000 in SIPs and Rs. 3,000 in RDs. Very good beginning.

?

Low current expenses give you a golden opportunity to invest more.

?

Building Rs. 1 crore wealth is possible. But only with smart and steady planning.

?

You are already making the right moves. Now let us sharpen your strategy.

?

Your Current Investment Pattern

SIP of Rs. 9,000 monthly is a healthy habit. Keep it going without fail.

?

RD of Rs. 3,000 gives you safety. But offers low returns compared to inflation.

?

Stocks need careful management. Direct stock investing is risky without skill.

?

Building good wealth depends more on consistent habits than timing the market.

?

Evaluating Your Monthly Savings Potential

You are left with Rs. 50,000 every month after personal expenses.

?

You currently invest only Rs. 12,000 monthly. This can be increased.

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Even if you invest Rs. 30,000 monthly, you will still have Rs. 20,000 cushion.

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Try to raise SIP amount gradually every 6 to 12 months.

?

Start a step-up SIP if possible. That builds a strong habit.

?

Assessment of Your Wealth Target: Rs. 1 Crore

With your current SIP of Rs. 9,000 alone, it may take over 20 years.

?

If you invest Rs. 30,000 monthly, it could take around 10 years.

?

Early retirement planning means faster accumulation is needed.

?

Aim to reach Rs. 1 crore in 8–10 years by increasing your investments.

?

Try to limit stock exposure unless you are well-trained.

?

How to Improve Your Investment Plan

Increase SIP gradually to Rs. 20,000–30,000 per month.

?

Start investing in 3 to 4 well-managed diversified mutual fund schemes.

?

Avoid putting new money in direct stocks without proper study.

?

RD money can be moved to liquid funds or ultra-short funds over time.

?

Choose SIPs in regular plans through a certified mutual fund distributor.

?

Disadvantages of Direct Plans

Direct plans offer low cost. But they lack proper guidance.

?

Without expert support, choosing right funds becomes hard.

?

Many direct investors chase returns and switch often.

?

A Certified Financial Planner aligned mutual fund distributor gives you insights.

?

This reduces emotional decisions and gives better long-term outcome.

?

Why Regular Plans with CFP-Guided MFD Are Better

You get portfolio reviews, goal planning, and behavioural guidance.

?

Funds are selected to match your risk and life stage.

?

You stay invested longer and avoid panic exits.

?

This leads to disciplined and goal-based investment results.

?

Ideal Portfolio Mix for Wealth Building

Keep 70-80% in equity mutual funds across large, mid, and flexi-cap funds.

?

10-15% in hybrid mutual funds for slight stability.

?

5-10% in liquid or short-duration funds for emergency use.

?

No need for annuities or endowment plans. They give low returns.

?

Do not buy insurance policies for investment. Avoid ULIPs or LIC savings plans.

?

If You Hold LIC or ULIP, Act Wisely

If you have old LICs or ULIPs, check their returns.

?

Many give less than 5% over time. That kills wealth growth.

?

Consider surrendering after lock-in and reinvesting in mutual funds.

?

That will give better compounding for your Rs. 1 crore goal.

?

Expense Control is Your Superpower

Rs. 10,000 monthly expenses is very low. This helps you save more.

?

Keep lifestyle minimal for few years. Focus on building capital first.

?

Avoid unnecessary gadgets, subscriptions, or luxury spends.

?

Follow 60-20-20 rule. 60% save and invest, 20% for wants, 20% for needs.

?

Emergency Fund is Very Important

Keep 3 to 6 months’ expenses in liquid mutual funds.

?

This helps during job loss or medical issues.

?

Do not keep large idle savings in savings account.

?

Insurance Cover is Necessary

Buy a simple term insurance. Choose 15 to 20 times your annual income.

?

Also buy a health insurance policy if not already covered.

?

Without insurance, your wealth plan can collapse due to any emergency.

?

Tax Planning and Smart Withdrawals

Plan tax-saving SIPs under Section 80C if not using full limit.

?

For equity funds, gains above Rs. 1.25 lakh annually taxed at 12.5%.

?

If sold before one year, equity SIPs taxed at 20%.

?

Debt fund gains taxed as per income slab.

?

So, hold long enough to enjoy lower taxation and compounding.

?

How to Stay on Track for Rs. 1 Crore

Increase SIP as income grows. Review every 6 months.

?

Avoid jumping between schemes. Stay consistent in same funds.

?

Don’t stop SIPs during market falls. That’s when you buy cheap.

?

Use portfolio tracking apps only once in 3 months.

?

Don’t chase hot stocks or tips. Focus on proven investments.

?

How to Plan for Early Retirement

Rs. 1 crore alone is not enough for full retirement.

?

But it is a good milestone for Phase 1 of wealth building.

?

After reaching Rs. 1 crore, plan next goal like Rs. 3 crore.

?

Early retirement needs 20x of your yearly expense.

?

At that time, shift part to balanced and income funds.

?

What Not to Do

Do not invest in real estate now. It locks money and gives low return.

?

Don’t take loans to invest. Leverage adds high risk.

?

Don’t follow friends or social media blindly.

?

Don’t invest all in stocks or crypto.

?

Lifestyle Management

Continue to live frugally for 3–5 years.

?

Focus on building skills if you wish to grow income.

?

Passive income ideas can be explored after reaching Rs. 1 crore.

?

Until then, give 100% focus to wealth building.

?

Final Insights

You are in a very good position to reach Rs. 1 crore.

?

You already save most of your income. That is rare and powerful.

?

Increase SIP, cut RD slowly, and invest wisely through expert guidance.

?

Use mutual funds with a Certified Financial Planner-linked MFD. Not direct.

?

Stay patient, avoid fancy ideas, and focus on the process.

?

You can reach Rs. 1 crore in 8–10 years or less with discipline.

?

Then, move to your next target confidently with the same approach.

?

Best Regards,
K. Ramalingam, MBA, CFP,
Chief Financial Planner,
www.holisticinvestment.in
https://www.youtube.com/@HolisticInvestment

Ans: Hello Rock
Yes. It is a good college. You may think about it. But considering political issues, you may rethink about it twice. I do not you from which you state belong. But if you are from J &K, then no need to worry. But if from other state, please rethink.
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Radheshyam

Ans: Lalit, With a rank of 117,000, prefer branches like Mechanical, Civil, or other core branches at VIT’s newer campuses (Bhopal or Andhra Pradesh). Admission to CSE at VIT Vellore or Chennai is not feasible at this rank. All the best for your admissions!

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Ans: Choose CSE at MIT Bengaluru over EEE at MIT Manipal. CSE is the most future-proof and versatile branch, especially in a tech hub like Bengaluru. While MIT Manipal is the flagship campus, the advantage of CSE in terms of placements, career flexibility, and location at MIT Bengaluru outweighs the benefits of EEE at Manipal. Only opt for EEE at Manipal if you have a strong passion for electrical engineering and are not interested in IT/software roles. All the best for your admissions!

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