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Mayank

Mayank Kumar  |189 Answers  |Ask -

Education Expert - Answered on Apr 27, 2023

Mayank Kumar is the co-founder and managing director of upGrad, a higher EdTech company. With over 10 years of experience in the education sector, Kumar can offer guidance about degree courses, campus, job-linked and executive programmes and studying abroad.An MBA graduate from ISB Hyderabad, he holds a BTech in mechanical engineering from IIT Delhi.... more
Dishantika Question by Dishantika on Apr 05, 2023Hindi
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I am stuck I don't know what path to choose .. I have no idea what I should do with my career CS MBA I don't know, my financial background is very weak . I am under too much pressure I don't know what path to choose

Ans: Don't worry, you will figure a path soon. First you need to start by answering the question what are your interest areas and can you look at taking up a work opportunity so that you can start building your financial background and post which you can look at taking up an MBA or a Masters in the field that you have interests in
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Aashish

Aashish Sood  |100 Answers  |Ask -

CAT, Management Expert - Answered on Nov 02, 2023

Asked by Anonymous - Oct 30, 2023Hindi
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Hi sir, I completed my B.tech in 2019 in computer science. After that 4 yrs have passed but I have not been able to stabilize my career till now. I have total 2 yrs of work experience in total 4 IT ompanies. I also have 2 career breaks of 1.5 yrs and 6 months each. The reason for my frequent job hopping and career gaps is that I am not able to handle stressful situations at workplace. Whenever a situation comes in which my boss scolds me or expects me to work in tight deadlines or I make some mistakes or some office politics starts, I start to get very anxious and spiral into negativity. My software development skills are pretty decent and I perform better than many of my colleagues. But my inability to handle these things eventually makes me quit the job in the hope that next job would be better in this regard. I usually get new jobs within few weeks due to my skills but my avoidance behaviour starts the same cycle again in the next workplace as well. Due to this my salary has not also been able to grow much. What should I do to save my career? My options are either sticking with IT ir changing my field by doing mba. I also think about MS abroad but my btech grades are not good enough (6.6 cgpa) to get in good universities.
Ans: Hey

It's understandable that dealing with workplace stress, criticism, tight deadlines, and office politics can be overwhelming. However, recognizing these challenges is an important first step towards finding a solution.

Here are my 2 cents worth of advice

1. Consider consulting a professional counselor or therapist to work on coping mechanisms for stress, anxiety, and handling workplace pressure. Learning techniques to manage stress and maintain a positive mindset can be tremendously beneficial.

2. Develop emotional intelligence skills to understand and manage emotions, empathize with others, and effectively communicate in challenging circumstances.

3. Develop a thick skin. Develop an ability to bounce back from setbacks, rejections, or stressful situations. Strategies like mindfulness, meditation, or even regular exercise can significantly contribute to improving resilience.

4. Be assertive, yet respectful, in your interactions can help you navigate workplace conflicts better.

5. It's possible that the culture or environment of the companies you've worked for may not be conducive to your well-being. Consider exploring companies with a more supportive, nurturing, or relaxed work culture.

Going for an MBA will be a costly affair and I would advise you to be sure of your decision.

Furthermore, post MBA; corporate stress is only bound to increase.
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Shekhar

Shekhar Kumar  |51 Answers  |Ask -

Leadership, HR Expert - Answered on Apr 14, 2024

Asked by Anonymous - Apr 13, 2024Hindi
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Sir, I am 27 year old. Single . Working in a psu as a manager. I hate my job. I am not that great at study. I really want to earn a lot of money, travel and retire at the age of 45-50. But I don’t know how ? Should I do mba ? At this age ? I am middle class ! UPSC ? Learn coding? Stop dreaming?
Ans: It's reasonable to feel dissatisfied with your current job and to aspire for more. Considering your age, career stage, and goals, here are some considerations and potential paths you could explore:

Pursuing an MBA can be a valuable option if you're seeking to advance your career, switch industries, or develop managerial and business skills. Many MBA programs welcome candidates from diverse backgrounds, including those with experience in public sector organizations. If you're interested in a career in civil services and have a passion for public administration, policy-making, and governance, preparing for the UPSC exam could be a viable option. Keep in mind that UPSC preparation requires dedication, perseverance, and thorough understanding of current affairs and the Indian administrative system. Learning coding and acquiring technical skills can open up opportunities in the rapidly growing field of technology as well. If you have innovative ideas and a strong desire to create your own path, entrepreneurship could be worth exploring. Starting your own business or venture allows you to pursue your passions, take control of your career, and potentially achieve financial independence. However, entrepreneurship also involves risks and uncertainties, so it's crucial to conduct thorough market research, develop a solid business plan, and be prepared for challenges along the way. Regardless of your career path, prioritizing financial planning and investments can help you work towards your goal of retiring early. Consider consulting with a financial advisor to create a personalized financial plan, explore investment opportunities, and establish a savings strategy that aligns with your income, expenses, and retirement goals. Finally, focus on personal development and self-discovery to clarify your values, interests, and priorities. Reflect on what truly motivates and fulfills you, and explore ways to incorporate those elements into your career and lifestyle choices.

Ultimately, there's no one-size-fits-all answer, and the best path for you will depend on your unique circumstances, strengths, and aspirations. Take the time to explore your options, gather information, and make informed decisions that align with your goals and aspirations. Remember that it's never too late to pursue your dreams and create the life you desire. Best of Luck! Feel free to contact me on Rediff Gurus if you need further assistance or help.
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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.
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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.
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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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