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Dr Kishore

Dr Kishore Managoli  |8 Answers  |Ask -

NEET-PG, USMLE, NEXT exam expert - Answered on Mar 27, 2023

Dr Kishore Managoli is the founder and principal educator at Mendell Academy, which provides coaching to medical aspirants appearing for the United States Medical Licensing Examination, National Eligibility cum Entrance Test-PG, the Institute of National Importance Combined Entrance Test, National Exit Test, Professional and Linguistic Assessments Board and United Kingdom Medical Licensing Assessment.
He is a senior pathologist, scientist, medical educator and entrepreneur with over 30 years of clinical experience and interdisciplinary expertise in medical knowledge management, pharmaceutical research and corporate governance.
He has a master’s degree in pathology from Dr V M Government Medical College, Solapur.... more
Asked by Anonymous - Mar 23, 2023Hindi
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Career

Dear sir, my nephew would like to pursue his postgraduation in the US. What do you think would be the right time to appear for Step 1 exam? Does he have the option to choose subjects as well? What is the minimum score to qualify? Kindly advise

Ans: Step1 USMLE can be taken anytime after completing two years in medical college. Step-1 is just a Pass/Fail exam, there are no scores. The students have to prepare for all subjects in the syllabus, they don’t get to choose.
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Sushil

Sushil Sukhwani  |299 Answers  |Ask -

Study Abroad Expert - Answered on Aug 26, 2023

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Hello Mr. Sushil Sukhwani, thanks for your advise. Just need small clarification, my daughter will be going to USA after 12th but in your response it's says after bachelor's so can you pleaase look into this and confirm?
Ans: Hello Deepak,

First and foremost, thank you for contacting us. We are extremely sorry for the part pertaining to Educational prerequisites, having mistakenly written Bachelor’s. Pursuing medical studies in the USA can certainly be fruitful, however, multiple steps are involved in the process, right from preparing for standardized exams to making applications for universities. The application process is as under:

1. Prerequisites:
• Academics: Your daughter will need to complete 12 years of schooling comparable to that of the U.S. high school education. This typically requires completing grades 11th and 12th.
• Standardized Tests: Prepare for and give the requisite standardized tests:
â—¦ SAT or ACT: Undergraduate admissions require one to appear for general standardized exams like the SAT or ACT. Certain universities might favor one over the other.
â—¦ SAT Subject Tests: For competitive programs like medicine, specific subject exams might be needed or recommended by certain universities.
• English Proficiency: If English is not your daughter's primary language, appear for the TOEFL or IELTS English language proficiency test.

2. Research and Choose Universities:
• Universities and medical programs that correspond to your daugther’s academic objectives, choices, and monetary capabilities should be researched.

3. Entrance Tests:
• MCAT: The Medical College Admission Test (MCAT) is required for admission to the majority of American medical schools. An applicant’s comprehension of scientific principles, critical thinking, and problem-solving abilities are assessed in this standardized test.

4. Application Process:
• Online Applications: Via the Common Application or specific university websites, complete online applications.

• Transcripts: Academic marksheets including those of grades 11th and 12th, as well as any other pertinent education should be submitted.

• Recommendation Letters: Your daughter will require outstanding LoRs from professors, mentors, or professionals who can attest to her intellectual prowess and character.

• Statement of Purpose: Typically, applicants must compose a convincing personal statement outlining their purpose to pursue a medical career, relevant experiences, and attributes that make them a viable candidate.

• Extracurricular Activities: Talk about extracurricular activities, community service, leadership roles, and research experiences that you have undertaken.

5. Prepare Your Finances:
• Medical studies can be costly, therefore, budgeting is essential. Look into various scholarship opportunities, grants, and financial aid possibilities that universities offer.

6. Applying for a Visa:
• On being accepted, your daughter must apply for a student visa (F-1 visa) to study in USA. This entails submitting necessary documents, attending an interview at the U.S. embassy or consulate, and proving she can pay for her education and living costs.

7. Pre-departure Preparations:
• Before leaving for the USA, make accommodation, travel, and other essentials arrangements.

8. Arrival and Orientation:
• Once you arrive, adapt yourself to campus life and academic expectations by attending orientation programs organized by the university.

Depending on the university and course, the process can differ a little. Check the official websites of the universities your daughter is interested in frequently and adhere to their particular application guidelines and deadlines.

The medical sector in the USA being highly competitive, securing admission to medical schools can be difficult. Your daughter will need to maintain excellent academic standards, actively participate in extracurricular activities, and perform well on the required exams to increase her admission chances.

In addition, speaking with a qualified educational counselor or advisor who specializes in assisting students apply to foreign universities can provide tailored guidance throughout the application process.

For more information, you can visit our website.
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Sushil

Sushil Sukhwani  |299 Answers  |Ask -

Study Abroad Expert - Answered on Sep 27, 2023

Career
Dear Sushil ji, My husband completed his MBA from IIM dubai in 2009. Right now he is working as an Asst. Manager in a private industry from the last 14years. Now he is ready to make his goal as to study MS in USA by his own money. Now his age is 38years with 14years work experience. Can he apply for the universities in USA. If yes is he required GRE score for january '24 application? Please advice/suggest us. And aslo if yes please suggest which course are helpful for better future..
Ans: Hello D,

To begin with, thank you for contacting us. I am happy to hear about your husband’s plans to pursue an MS in the USA. To answer your question first, considering your husband’s background, having acquired 14 years of professional experience, and even at the age of 38 years, it is indeed possible for him to now apply for MS (Master’s of Science) programs in the United States. Candidates who have acquired different experiences are highly sought-after by a number of universities in the USA. Taking into account this factor, your husband’s MBA degree in 2009 from IIM Dubai, will definitely be a plus point, which I believe, in turn, will definitely make him an invaluable asset. I suggest that you take the below mentioned factors into consideration and then make a final decision:

1. Take into account your husband’s age and years of professional experience:
Your husband’s decision to pursue a Master’s degree in the USA is a wise choice. Although his age may not match the ages of the other candidates opting for a Master’s course, I would like to let you know that having acquired 14 years of professional experience will definitely serve as a plus point in this academic pursuit. Candidates with diverse work experiences having been employed at different companies, are often preferred by the Admissions committees. Your husband’s 14 years of professional experience surely brights to light his level of maturity, unwavering dedication, and the different ways in which he can prove to be a perfect fit for the program he intend pursuing.

2. Researching and Shortlisting Programs:
This is a crucial step in the application process, wherein your husband needs to conduct an extensive study and shortlist programs that align with his interests and academic objectives. Considering his background, I believe, he would surely wish to pursue management, and business-oriented programs or maybe programs in an associated field that matches his abilities. Accordingly, he can look into programs viz., Master of Science in Finance (MSF), Master of Science in Management (MSM), or Master of Science in Information Technology (MSIT), etc. I suggest that he selects the perfect program, and for that he will need to investigate universities and the programs they have to offer, and finally select the one that best resonates with his professional ambitions.

3. Appearing for the GRE as a program prerequisite: Addressing your query concerning whether or not your husband would need to appear for the Graduate Record Examination (GRE), I would like to inform that you will need to inquire with the specific university and program your husband intends applying for. Each university and program has varying prerequisites. In my opinion, the GRE standardized test may be a necessity while applying for certain programs. On the other hand, considering your husband’s past educational accomplishments and professional experience, other programs may not require him to appear for the GRE. I suggest that he meticulously investigates the entry criteria of the universities and courses he wishes to apply to.

4. Applying to universities and programs: As a part of the application procedure, your husband will need to submit important documents. I recommend that he prepares an excellent application. He will need to submit a compelling Statement of Purpose, endorsement letters from professors and employers who can attest to his academic achievements and character, as well as results of mandatory standardized exams. He should strongly focus on his professional experience and explain how it makes him the perfect fit for the program he intends applying to. I recommend that he begins the application process beforehand.

5. Plan your Finances: I know that studying in the USA is a costly affair, and for that reason, your husband should budget his finances correctly, so as to cover his cost of education, including living and tuition costs, as well as other miscellaneous expenditures. Also, a number of grants, scholarships, and other forms of financial aid, in addition to part-time employment possibilities, are offered by majority of the universities. I recommend that your husband looks into the available assistantships, scholarships etc. as these can help alleviate the high costs of studying.

6. Obtaining a Valid Visa and following Immigration Guidelines: Your husband, on securing admission, will be required to obtain a valid student visa in order to study in USA. An F-1 visa is the required one. I recommend that he conducts an extensive study and prepares for the visa application process.

7. Consider Long-Term Prospects: Your husband should take into account his prospects for the future and understand in what way the Master’s program opted for by him resonates with these prospects. I believe that undertaking internships, career guidance, and building connections while still pursuing his Master’s degree will go a long way in enabling your husband bag employment possibilities upon graduating.

Summarizing the above, I would like to tell you that taking both, your husband’s age and professional experience into account, he is eligible to apply for USA Master’s programs. Nevertheless, I recommend that he conducts a comprehensive research and opt for those courses that best match his aspirations. Not just that, he should also make a compelling application as well as possess a sound financial strategy. I also suggest that he finds out whether or not the particular programs require him to appear for the GRE or not, and that he adheres to other prerequisites for admission if required.

For more information, you can visit our website.
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Sushil

Sushil Sukhwani  |299 Answers  |Ask -

Study Abroad Expert - Answered on Dec 30, 2023

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Ramalingam

Ramalingam Kalirajan  |637 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on Apr 20, 2024

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hi sir : my son doing job since two year monthly earning is 60 K. but his saving is nil. pl. advice where to invest
Ans: It's great that your son has started earning, and it's essential to guide him on saving and investing for the future. Here's a step-by-step investment plan tailored for him:

Emergency Fund: Start by building an emergency fund equivalent to 3-6 months of expenses. This fund should be easily accessible, like a savings account or a liquid fund.
Debt Repayment: If he has any high-interest debts like credit card bills or personal loans, it's wise to clear those first to avoid paying hefty interest.
Investment Options:
Equity Mutual Funds: For long-term wealth creation, he can start SIPs in diversified equity funds. A mix of large-cap, mid-cap, and multi-cap funds can provide growth.
PPF (Public Provident Fund): A tax-efficient and safe option for long-term savings with a lock-in period of 15 years.
NPS (National Pension System): A retirement-focused investment with tax benefits, offering a mix of equity, corporate bonds, and government securities.
Term Insurance: Since he's working, consider getting a term insurance plan to ensure financial security for his dependents.
Health Insurance: A comprehensive health insurance plan to cover medical emergencies can provide financial security and tax benefits.
Budgeting and Savings: Encourage him to create a monthly budget to track expenses and identify areas to save. Automating investments through SIPs can also help in disciplined saving.
Financial Education: Educate him about the importance of financial planning, saving, and investing. Encourage him to read books or attend workshops on personal finance.
Starting early with disciplined saving and investing can help him build a substantial corpus over time. Encourage him to consult a financial advisor for personalized guidance tailored to his financial goals and risk tolerance.
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Ramalingam

Ramalingam Kalirajan  |637 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on Apr 20, 2024

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Hi Anil, I am 43 years old. I have a monthly sip of 35k going on. I have started investing in mutual fund and sip from year 2013. Total mutual fund plus sip current market value is 1 core 9 lakhs . I plan to invest 35 k per month more for 7 to 8 years , when i want to leave job and do something else. Can you tell me what will be my corpus in 7 to 8 years down the line taking both current valution plus what i am going to continue investing?Also, i have another 1 corore total in other investment like Voluntary provident fund, Epf, ppf and esops from my company and pension fund . Here i do a monthly investment of around 80 k via mostly through company for tax savings. So what will be my total corpus after 7 to 8 yrs. Also, is it good for retirement considering my current monthly expense us 1 lakh.
Ans: To estimate your corpus after 7 to 8 years, let's assume an average annual return on your mutual fund SIPs at 10-12% and a similar return on your other investments.

For Mutual Funds:

Future Value of Current Investments: Using the future value formula, considering an average return of 10-12%, your current 1.09 crore can grow to approximately 2.2 - 2.5 crores in 7-8 years.
Future Value of Additional SIPs: Investing 35k per month for 7-8 years, at an average return of 10-12%, you could accumulate around 50 - 60 lakhs from SIPs alone.
For Other Investments:

Future Value of Current Investments: Assuming an average annual return of 10-12%, your current 1 crore can grow to approximately 2 - 2.4 crores.
Future Value of Additional Investments: With 80k monthly investments for 7-8 years, at an average return of 10-12%, you could accumulate around 1.5 - 1.8 crores.
Total Corpus After 7-8 Years: Combining both, your total corpus could range from 5.2 - 6.2 crores.

Retirement Planning:
Considering your monthly expense is 1 lakh, with a corpus of 5.2 - 6.2 crores, you can generate approximately 40-50k per month (assuming a 7-8% withdrawal rate) post-retirement. This should be sufficient considering your current expenses, but inflation and unforeseen expenses should also be considered.

It's advisable to consult a financial advisor for a detailed plan tailored to your needs, considering inflation, tax implications, and other factors.
(more)
Ramalingam

Ramalingam Kalirajan  |637 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on Apr 20, 2024

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Hello, I want to invest 10 lac INR for a long term investment. I need suggestion on the following, i understand to invest in the form of SIP. But want to get a suggestion on where should I invest this 10-20 lac first and then invest as an SIP over 1-2 years or even 3 years as per your suggestion. As currently lying in Savings account which doesnt yield more. Secondly I would need a help on good portfolio of funds for long term (10 years or above) for my retirement/younger child's education.
Ans: For long-term investments of 10-20 lakhs, you can consider the following approach:

Initial Lump Sum Investment:

Liquid Funds: Park a portion in liquid funds to earn better returns than a savings account while maintaining liquidity.
Short-term Debt Funds: Allocate to short-term debt funds for stability and moderate returns.
Long-Term SIP Portfolio:

Diversified Equity Funds: Invest in a mix of large-cap, mid-cap, and multi-cap equity funds through SIPs for growth potential.
Balanced Funds: Opt for balanced funds or aggressive hybrid funds for a blend of equity and debt, suitable for long-term wealth creation.
Child Education: Start a separate SIP in a child education-focused fund to ensure funds are available when needed.
Sample Portfolio for Long Term:

Large Cap Equity Fund: 30%
Mid Cap Equity Fund: 20%
Multi Cap Equity Fund: 25%
Balanced/Aggressive Hybrid Fund: 15%
Child Education Fund: 10%
Adjust the allocation based on your risk tolerance and financial goals. Regularly review and rebalance the portfolio to maintain desired asset allocation. Consulting a financial advisor can help create a personalized investment plan tailored to your needs and goals.
(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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