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Sanjeev

Sanjeev Govila  |458 Answers  |Ask -

Financial Planner - Answered on Mar 28, 2024

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
Sumeet Question by Sumeet on Mar 14, 2024Hindi
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I was running a bussiness from last seven year with my brother we had dispute and due to financial crisis i was unable to pay my credit card bill and loan amount. Due to this from last 2 years i am unable to file IT return and this year its the 3rd, what should i do

Ans: If you're facing legal issues related to your business dispute, it may be helpful to consult with a lawyer who specializes in business or financial law. They can provide guidance on your rights and options.
Prioritize your debts based on factors such as interest rates and consequences of non-payment. Focus on paying off high-interest debts first while making minimum payments on others.

It is important to file your tax returns. Failing to file can result in penalties and interest charges. It is advisable to seek guidance from an income tax professional who can provide you a personal solution.
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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Anu

Anu Krishna  |830 Answers  |Ask -

Relationships Expert, Mind Coach - Answered on Apr 21, 2023

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Dear Khevna Shah I am in the business of my father's after his death with my uncle for the last 15 years and so and when my father died my age was 22 and I was a simple, shy and fear boy and was happy and i am doing the accounts job and i was not taking my salary on monthly basis or yearly basis means i want to say that i take 200 or 500 or sometimes 10000 to 20000 as per my requirement and sometimes i have to give it to my mom for her personal expenses. After two and half years, i was having problems with my uncle due to professional reasons and i was talking to him at that time and discussing all the problems and business related issues facing by me and he was listening but not responding to my problems during these years and after passing of two and half years i tried my best for talks, discussion but i was not getting any response from his end and after that period i stopped myself for any talks, discussion and sharing with him and I was prepared to left him and go elsewhere and do something new or do a job or start a new business on my own as we were are living in joint family and still we are in joint. Mam i did not left him and he provided me a new business and I became the proprietor of that new business and i didnot have any idea of that new business and when i engaged in that business i came to know that this business is all runs on liabilities for around three months to six months and depends on how you capture the market with low competitive rates and that time was new and i was not having any distributorship also and the business went on losses and i have beared losses for almost lakhs and lakhs of rupees. So, I closed the shop and again started doing account job in my father's business with my uncle as all the decisions related to business was taken by my uncle and same problem which i was facing in my early stage was repeated and the days were passing as it was passing previously. Now when corona came in the world, we were all lockdown in our homes and in that time we were all of our family members lockdown in our home. In that period we were all fighting with the corona that when will corona go and when we will go outside again and when will our normal life will start we were talking about our works of home should be divided. In that period all the works were divided and when lockdown was over and we were slowly slowly coming back to normal. Our joint family divided and now we are separate but our business is not separate and i am getting the salary fixed after our separation. Now the problem is that the salary fixed is not upto the mark and i am facing financial crisis at my end and our relation are so so and i am facing heated conversation with my wife related to money problems as i have to give her the money for household activities, personal expenses, my child school fees, admission fees and other activities related to school and i am very much exhausted with all the daily dose. So, therefore what will be my steps to go forward regarding the issues with my uncle and the problems which i am facing right now and have a peaceful time.
Ans: Dear Ashish,
Time and again you have been waiting for things to change in your favour. Your first sign was when your uncle's resistance at doing or thinking anything good for you.
Good nature of yours to trust him and still keep at it, but I guess now being in your 30s, should tell you that you need to make your life yourself and on your own terms.
Don't hang around thinking that the tides will change for you; instead change things the way you want by breaking free. Now. how you want to do it; is something that you need to discuss with your wife and decide. You have been far too dependent on this dream world that your uncle is going to make things happen and will be kind to you.
Be kind to yourself and now ask yourself:
- how can I revive my financial position on my own?
- what support do I need and from whom to achieve this?
- how can I keep myself motivated every day as I change things for the better?

The time has also come to have a clear chat with the person controlling the business. It gets messy when the family is divided and the business is still joint. Money troubles are never going to have clarity ever in this type of an arrangement. So, take matter into your own hands without fearing the outcome and think of only how you can have a better and peaceful life. The answer will be crystal clear to you.

All the best!
(more)
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Ramalingam

Ramalingam Kalirajan  |1025 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on Apr 30, 2024

Asked by Anonymous - Apr 30, 2024Hindi
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Which is the best health insurance policy in india? Self -39yrs, Spouse -38yrs,Son-13yrs, son-7yrs. I have thyroid.
Ans: I can guide you towards finding the best plan for your family based on your needs and medical history (thyroid). Here are some key factors to consider:

Family Needs:

Age: Consider your family's age and potential health risks associated with each age group.
Medical History: Disclose your thyroid condition to ensure the plan covers pre-existing conditions or offers add-on riders for specific illnesses.
Coverage Requirements: Think about the type of hospital you prefer (network vs. non-network), room type (single, double), and preferred treatments (Ayurvedic, homeopathy).
Policy Features:

Sum Insured: Choose a sufficient sum insured to cover hospitalization costs for everyone in your family. Consider factors like city tier (medical costs are higher in metros) and inflation.
Coverage Type: Consider a comprehensive plan that covers hospitalization expenses, pre and post-hospitalization costs, ambulance charges, and day care procedures.
Network Hospitals: Opt for a plan with a wide network of hospitals in your city to ensure easy access to quality healthcare.
Co-pay/Deductible: A co-pay or deductible involves sharing a portion of the hospitalization cost. This lowers premiums but increases your out-of-pocket expense.
Exclusions: Carefully review policy exclusions to understand what treatments or conditions are not covered.
Here's a roadmap to finding the best policy:

Compare Online: Use online insurance comparison platforms to get quotes from different insurers.
Shortlist Based on Needs: Shortlist plans that meet your family's coverage requirements and budget.
Read Policy Wording: Carefully read the policy wording (wording can differ between insurers) to understand inclusions, exclusions, claim settlement process, and renewal terms.
Customer Service Reviews: Research customer reviews to get an idea about claim settlement experiences with different insurers.
Agent vs. Direct Purchase: You can buy directly from the insurer's website or consult an insurance agent who can guide you through the process and recommend plans based on your needs.
Here are some additional tips:

Pre-existing Conditions: Disclose your thyroid condition clearly during the application process.
Some plans might have a waiting period for pre-existing conditions before coverage applies.
Some might offer coverage with exclusions or higher premiums.
Renewability: Choose a plan with guaranteed lifetime renewability to ensure coverage throughout your life.
Claim Settlement Ratio: Consider the insurer's claim settlement ratio to understand their record of settling claims efficiently.
Remember: The best health insurance policy is the one that caters to your specific needs and offers comprehensive coverage at an affordable premium.
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Ramalingam

Ramalingam Kalirajan  |1025 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on Apr 30, 2024

Ramalingam

Ramalingam Kalirajan  |1025 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on Apr 30, 2024

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Hi I have following SIPs. Can you suggest whether they are good, bad or ugly and suggest changes if any. Quant small cap direct growth-10000 Canara robecco small cap DG- 10000 PGIM india mid cap Opp DG-10000 SBI contra Direct plan growth-10000 Parag parik flexi cap DG-10000 Quant infrastructure DG-10000 ICICI prudential tech fund-10000 Tata digital India regular plan-10000 Aditya birla sun life digital India regular plan -10000 - I hv started investing in last 6months and aim is to make atleast 3cr by next 10yrs. I hv certain other investments in SIPs, equity and PF (about 50000 per month) Thank you
Ans: Your portfolio seems well-diversified across different categories and themes, which is a good approach. However, there are a few considerations to keep in mind:

Small Cap Exposure: Having significant exposure to small-cap funds like Quant Small Cap and Canara Robeco Small Cap can add volatility to your portfolio. While they have the potential for high returns, they also come with higher risk. Ensure you have a high-risk tolerance and a long-term investment horizon if you intend to stay invested in these funds.
Sectoral and Theme Funds: Funds like ICICI Prudential Tech Fund, Tata Digital India, and Aditya Birla Sun Life Digital India focus on specific sectors/themes. While these can offer opportunities for growth, they also carry concentration risk. Monitor these funds closely and be prepared for volatility, considering the dynamic nature of sectoral investments.
Mid Cap and Flexi Cap: PGIM India Mid Cap Opp and Parag Parik Flexi Cap provide exposure to mid-cap and flexible-cap segments, which can complement your small-cap investments. Ensure you review the performance and portfolio composition of these funds regularly to confirm they align with your investment objectives.
Regular Review: Given your long-term goal of reaching 3 crores in 10 years, regularly review your portfolio's performance and make adjustments as necessary. Consider rebalancing periodically to maintain your desired asset allocation and risk level.
Risk Management: Since you have a significant amount invested across various funds, ensure you have an adequate emergency fund and insurance coverage to mitigate any unforeseen risks.
Overall, your portfolio appears to have the potential to achieve your long-term financial goals, but it's essential to monitor and adjust it periodically based on your changing financial situation and market conditions. Consider consulting with a financial advisor for personalized advice tailored to your specific needs and objectives.
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Ramalingam

Ramalingam Kalirajan  |1025 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on Apr 30, 2024

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sir, pl. advise me whether to continue or wait with this fund. I have invested in these funds sip / lumpsum. Aditya Birla Sun Life Small Cap Fund (formerly known as Aditya Birla sun Life Small & Midcap fund) Lumpsum Aditya Birla sun Life frontline equity fund Lumpsum Aidtya Birla sun life liquid fund Lumpsum Aditya Birla sun life tax relief '96 SIP stopped ICICI Prudential Equity & Debt Fund ‐ Growth Lumpsum Hdfc Balanced advantage fund-Direct Plan-Growth Option Lumpsum ICICI prudential value discovery fund_direct plan- Growth earlier known as ICICI prudential value fund series 19 direct plan subsequently switch out (merger) on 24.06.2021 Lumpsum Nippon India Focused Equity Fund ‐Growth Plan Lumpsum Nippon India Large Cap Fund‐ Growth Plan ‐Growth Option Lumpsum Axis Small Cap Fund ‐ Regular Plan ‐ Growth SIP Canara Robeco Emerging Equities ‐ Regular Plan Growth SIP HDFC Multi Cap Fund ‐ Growth Option SIP ICICI Prudential Flexicap Fund ‐ Growth SIP ICICI Prudential Transportation And Logistics Fund SIP SBI Magnum Midcap Fund - Regular Plan - Growth SIP
Ans: When deciding whether to continue or wait with your current mutual fund investments, consider the following factors:

Performance: Evaluate the performance of each fund over different time periods. Look at their returns compared to benchmark indices and peer funds in the same category.
Fund Objectives: Ensure that the objectives of the funds align with your investment goals and risk tolerance. Review the fund's investment strategy and portfolio composition.
Fund Manager: Assess the track record and expertise of the fund manager managing each fund. A skilled and experienced fund manager can significantly impact fund performance.
Expense Ratio: Consider the expense ratio of each fund, as higher expenses can eat into your returns over time. Compare the expense ratios of your funds with similar funds in the market.
Market Conditions: Take into account the current market conditions and economic outlook. Certain funds may perform better in specific market environments.
Changes in Personal Financial Situation: Evaluate any changes in your personal financial situation or investment goals that may necessitate adjustments to your portfolio.
Review Periodically: Regularly review your portfolio to ensure it remains aligned with your objectives. Consider rebalancing or making changes if needed based on market trends or changes in your financial situation.
By carefully considering these factors and possibly seeking advice from a financial advisor, you can make informed decisions about whether to continue or wait with your current mutual fund investments.
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Ramalingam

Ramalingam Kalirajan  |1025 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on Apr 30, 2024

Asked by Anonymous - Mar 21, 2023Hindi
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Hello Sir, I am 43 yrs of age and following is the list of my MF holdings which are all 15 Months Plus......Can you pls advice me if I should continue to remain Invested in the same or should I change any of these....I am looking at an aggressive and high return Funds in the next 3 Years....Also one very important point is all my Investments are thru an Agent, do you suggest i shud withdraw them all and go for Direct Plans.....Pls advice - SIP Details - CANARA ROBECCO EMERGING EQUITIES FUND – 10000 PGIM INDIA MID CAP OPPORTUNITIES FUND – 5000 ICICI PRUDENTIAL TECHNOLOGY FUND – 4000 SBI FOCUSED EQUITY FUND – 6000 QUANT ACTIVE FUND – 10000 MIRAE ASSET LARGE CAP FUND – 10000 INDIA INFOLINE - 5000 LUMPSUM Details - PGIM INDIA MID CAP OPPORTUNITIES FUND – REGULAR GROWTH – 3 LACS K1155 - KOTAK MULTICAP FUND – REGULAR PLAN GROWTH – 3 LACS AXIS MULTICAP FUND REGULAR PLAN GROWTH – 3 LACS IIFL FOCUSED EQUITY FUND – 4 LACS UTI FLEXI CAP FUND – 2.5 LACS MIRAE ASSET LARGE CAP FUND – 3 LACS LIC MF LARGE AND MID CAP FUND – 4 LACS CANARA ROBECCO BLUE CHIP EQUITY FUND – 3 LACS QUANT ACTIVE FUND – 2.5 LACS PARAG PARIKH FLEXI CAP FUND – 2.5 LACS
Ans: Given your desire for aggressive growth in the next 3 years, it's crucial to assess your current mutual fund holdings and make informed decisions. Here are some considerations:

Performance Review: Evaluate the performance of your existing funds over the past few years. Look at their consistency, returns, and how they have performed during different market cycles.
Risk Appetite: Consider your risk tolerance and whether your current funds align with your risk profile. Aggressive funds typically carry higher risk, so ensure you are comfortable with potential volatility.
Diversification: Check the diversification of your portfolio across different fund types (large cap, mid cap, small cap) and sectors. A well-diversified portfolio can help mitigate risk.
Expense Ratio: Assess the expense ratio of your funds, especially if they are regular plans. Direct plans generally have lower expense ratios, which can significantly impact returns over the long term.
Exit Loads and Tax Implications: Understand any exit loads or tax implications associated with redeeming your existing investments, especially if they are less than 3 years old.
Consideration of Direct Plans: Switching to direct plans can save on expenses in the long run, potentially boosting returns. However, ensure you are comfortable with managing your investments independently or seek the assistance of a fee-based advisor.
After considering these factors, you can decide whether to continue with your current holdings, reallocate investments, or explore new funds that align better with your goals and risk appetite. It's essential to periodically review your portfolio and make adjustments as needed to stay on track with your financial objectives.
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Ramalingam

Ramalingam Kalirajan  |1025 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on Apr 30, 2024

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Dear Sir, My name is Shrikanth S Kumar. My age is 38 and wife's age is 34. My total annual CTC is 16,10,000. My monthly expenses is 40 k. I have 15 lakhs in savings account which I can invest for Long term. Please suggest New SIPS or current good sips and investment avenues to continue. Started investing in equity sips from 5 years. I have a target net worth to reach of 5CR in 5years. I have 13 lakhs MF portfolio, and my running MF sip are 35k in quant active, 30k in parag parikh flexi cap,6k in DSP Nifty 50 equal wieght Index fund and 5k in nippon small cap.
Ans: It's great to see your proactive approach towards long-term financial planning. Given your income, expenses, and existing investments, here are some suggestions to help you achieve your target net worth of 5 crores in 5 years:

Increase SIP Contributions: Consider increasing your SIP contributions to align with your ambitious goal. You may also explore the option of stepping up SIP amounts annually to accelerate wealth accumulation.
Diversification: While your current SIPs are well-diversified, you can further enhance diversification by adding funds from different categories such as large-cap, mid-cap, and multi-cap funds. This helps spread risk and capture opportunities across market segments.
Explore Tax-Saving Investments: Utilize tax-saving investment avenues such as Equity Linked Savings Schemes (ELSS) to optimize tax benefits while building wealth. ELSS funds offer the twin benefits of tax savings under Section 80C of the Income Tax Act and potential capital appreciation.
Regular Review and Rebalancing: Regularly review your investment portfolio to ensure it remains aligned with your financial goals and risk tolerance. Consider rebalancing your portfolio periodically to maintain the desired asset allocation mix.
Emergency Fund: Ensure you have an adequate emergency fund set aside in a liquid instrument like a savings account or liquid mutual fund to cover unforeseen expenses without disrupting your investment portfolio.
Seek Professional Advice: Given the ambitious nature of your financial goal, consider consulting with a certified financial planner who can provide personalized advice tailored to your specific circumstances and objectives.
Remember, achieving a significant target like 5 crores in 5 years requires disciplined savings, strategic investing, and periodic reassessment of your financial plan. Stay focused on your long-term objectives and remain patient during market fluctuations.
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Ramalingam

Ramalingam Kalirajan  |1025 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on Apr 30, 2024

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Hello, please advise. I want to create of corpus of 5 crores in 5 years, the value of my current portfolio is 50 lakhs. I am 44 years. My monthly SIP is around 2.25 lakhs. Rs. 1.25 lakhs in Franklin India US opps fund, Smaller companies, Tech fund, Axis Bluechip and small cap, Mirae Asset Blue chip, Canara Robeco Equity hybrid, Motilal Nasdaq 100 FOF, Parag Parikh long term equity. Started another Rs. 1 lakh last month in ICICI Prudential Mutual bank, DSP, Franklin India smaller companies, Kotak Emerging Equity, HDFC Flexi, HDFC Smaller Cap, Tata Digital India Fund. Please advise.
Ans: It's commendable that you're focused on building a significant corpus in a relatively short period. However, aiming for a corpus of 5 crores in just 5 years is an ambitious goal and may require a carefully crafted strategy and potentially higher investments.

Here are some considerations:

Investment Amount: Given your current portfolio value of 50 lakhs and monthly SIP of 2.25 lakhs, you may need to increase your investment amount to achieve your target. Consider whether it's feasible to increase your SIP amount or allocate additional lump sum investments.
Risk and Return: With a relatively short investment horizon, it's crucial to strike a balance between risk and return. Evaluate the risk profile of your investments and ensure they align with your risk tolerance and goals.
Diversification: Review the diversification of your portfolio across different asset classes, sectors, and market capitalizations. Consider diversifying further if needed to reduce concentration risk.
Regular Review: Given the short time frame, regularly monitor the performance of your investments and adjust your strategy as needed. Be prepared to make tactical changes based on market conditions and evolving financial goals.
Professional Advice: Consider consulting with a certified financial planner or advisor who can provide personalized guidance based on your financial situation, goals, and risk profile.
Remember, achieving such a substantial corpus in a short period requires disciplined savings, prudent investing, and realistic expectations. While it's essential to aim high, it's also crucial to maintain a realistic perspective and adapt your strategy as needed along the way.
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Ramalingam

Ramalingam Kalirajan  |1025 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on Apr 30, 2024

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I have following mutual fund in my portfolio 1. Parag Parikh flexi cap 2. Pgim India midcap opportunity 3. Quant tax plan 4. Canera Rebecca equity tax fund Do I need to change anything,please suggest
Ans: Your portfolio appears to have a mix of flexi-cap, mid-cap, and tax-saving equity funds, providing diversification across different market segments. However, it's essential to periodically review your investments to ensure they align with your financial goals, risk tolerance, and market conditions. Here are a few considerations:

Diversification: Assess whether your portfolio is adequately diversified across different asset classes, sectors, and market capitalizations. Consider adding exposure to other sectors or asset classes if needed to reduce concentration risk.
Performance: Evaluate the performance of each fund relative to its benchmark index and peers. If any fund consistently underperforms or deviates significantly from its investment mandate, consider replacing it with a better-performing alternative.
Tax Efficiency: Since you have a tax-saving equity fund in your portfolio, ensure it aligns with your tax planning goals and provides adequate tax benefits. Evaluate its performance and tax efficiency compared to other tax-saving options.
Risk Management: Consider your risk tolerance and investment horizon when making changes to your portfolio. Ensure that the overall risk level of your investments is in line with your comfort level and financial objectives.
Professional Advice: Consult with a certified financial planner or advisor who can provide personalized recommendations based on your financial situation and goals.
Ultimately, the decision to change or maintain your portfolio depends on your individual circumstances and market outlook. Regular review and adjustment can help ensure that your investments remain aligned with your long-term financial 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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