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Dr Ashish

Dr Ashish Sehgal  |97 Answers  |Ask -

Relationships Expert, Mind Coach - Answered on May 12, 2023

Ashish Sehgal has over 20 years of experience as a counsellor. He holds a doctorate in neuro linguistic programming, mental health and social welfare.He is certified in neurolinguistics by both the Society of NLP and the American Board of NLP.... more
JS Question by JS on Apr 28, 2023Hindi
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Relationship

I am 42 years old and working round the clock in my current job. Its a tough life. Company is not giving me options to learn skill nor doing anything to reduce my pressure. Due to covid, finding a new job is very difficult in my field. Due to constant pressure i have lost interest in work and dont want to work. There is a burnout.its tough situation to handle. Need ur help/ advice in this situation.

Ans: It sounds like you are experiencing burnout from your job, which can be a serious issue if left unaddressed. Here are some steps you can take to help manage your situation:

Take a break: If possible, take some time off work to recharge and focus on self-care. Even a short break can help you feel refreshed and more motivated to tackle your job responsibilities.

Set boundaries: It's important to establish clear boundaries between your work and personal life. Try to limit working outside of regular hours and avoid checking emails or taking work calls during your free time.

Seek support: Talk to a trusted friend or family member about your situation. Sometimes just having someone to listen and offer support can make a big difference.

Find ways to cope with stress: Consider incorporating stress-reducing activities into your daily routine, such as meditation, exercise, or spending time in nature.

Explore career options: While finding a new job may be difficult in your field right now, it's important to consider your long-term career goals and explore other options that may be available to you.

Consider seeking professional help: If you continue to struggle with burnout, it may be helpful to seek professional help from a therapist or counselor who can offer additional support and guidance.

Remember, burnout is a serious issue that can have negative effects on your mental and physical health. It's important to take steps to address it and prioritize your well-being.

You may like to see similar questions and answers below

Anu

Anu Krishna  |839 Answers  |Ask -

Relationships Expert, Mind Coach - Answered on Oct 06, 2020

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Relationship
Hi Anu, I am 42 yrs old male. I am a Public Health Professional and work in an International NGO on health issues based in Delhi. I have ageing parents (both suffering from cardiac illness, diabetes and hypertension) which are based in Mumbai, my immediate family (wife and two kids) stays with my parents as there is no one else to take care of them. My parents especially my father is adamant that he doesn’t want to leave his house and stay with me in Delhi. As a result my immediate family is also forced to stay in Mumbai taking care of my parents. My wife is very supportive, however as this situation is like this since last 4-5 years and we are staying in two different cities, it has now taking stall at emotionally and physically on both of us (me, my wife and my two kids). I am desperately searching for job in Mumbai, however in my sector there are not very good opportunities in Mumbai. I tried my hands in two there places for job, however to my misfortune things didnt work out. I am a mid-senior level professional and have reached this position after a lot of hard work, however the stress has started affecting my performance and overall reputation in the organization. Hence there is constant stress of performance, ability to deliver, overall situation has lowered my confidence level affecting my work further. Dissatisfied with my work, my supervisor has already started sidelining me. I am desperately started thinking of leaving the job, however financial condition doesn’t allow me to do that. With COVID-19 pandemic things has worsened, as I am stuck in Delhi even in lockdown, leaving my parents and my wife struggling in Mumbai amidst the lockdown. Even now cant visit them as stressed, whether i will carry risk of infection to my parents, wife and kids, Hence staying away, it’s been 8 months that have not met them. Not sure, how to handle this. One way I thought as looking out opportunities in Mumbai, even if at junior level, However i am trying for that, but not getting suitable opportunities. Not sure, how to handle the pressures from family (Parents don't want to shift, wife is not ready to stay away and has given time till March, there constant pressure of performance). Not sure, what to do.
Ans: Dear S, surely, this pandemic has put many at inconvenience in different ways for each of us across the planet.

What we can do is make the best of what is at this point in time. It indeed is hard to be away from family at a time like this.

I know parents in some families do find it hard adjusting to a new city at their age and having your wife care for them as logical as the decision was has begun to take a toll on the family as a whole.

It is an amazing feeling to come back home to a family after a hard day’s work where they wait with love, care and support.

Either a job in Mumbai or moving your family to Delhi are the options as it is evident that family and their love is important for you to have the security and stability.

Having said this, Lockdown 5.0 begins soon, I think fearlessly take a call, visit your family.

If you think you want to isolate yourself in the fear of COVID-10, do so…but more that all of this, do sit down as a family, COMMUNICATE, talk to your parents about how this is affecting you and obviously they care and love you enough to hear your side of the story.

And finally, do what needs to be done to make sure that your parents understand and are taken care of and your wife and children are with you as a family.

Happy decision making and be happy!

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Anu

Anu Krishna  |839 Answers  |Ask -

Relationships Expert, Mind Coach - Answered on Oct 27, 2020

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Relationship
I am from Pune, but for the past 3-4 months I have been living in my hometown along with my family(wife,2 kids and parents). Currently I am working from home but for the past 2-3 weeks I am feeling unmotivated to do any work. I have been thinking of quitting my job for the past several years but not able to do it because I am the sole earner in the family. The last couple of projects I worked on did not turn out to be successful and a lot of the responsibility of the failure was on me as I have lost focus on my work. I don't know the reason for that but I feel my unwillingness to work in my current field, along with this lockdown period has added to my stress. I feel like quitting my job today and start looking for a new job but the fear of not getting a job at all stops me from doing so. I have some savings on which I can survive for a few months. I have also discussed this with my wife, she is willing to support me in every decision I make. Lot of negative thoughts come to my mind these days. Can you help me make the right decision?
Ans: Dear M, Many people are in a space that you are in currently.

The pandemic has created newer challenges that are unfamiliar to most of us.

It is imperative that we adapt to the best of our knowledge and make the best of what is right now.

Having said this, what I can suggest is work on your mind. It isn’t supporting you and what you feed it regularly is the way it will serve you.

So, the decision will be taken by you as you know your skills, knowledge, industry and your finances to arrive at that decision that will take you out from where you are now. But, what I can share is how you can strengthen your mind to make that decision.

1. Start where you are now without harping on what you could have done or should have done. The past is a learning. Learn from it.

2. Write down the pros and cons of staying in the current job, taking a new job and starting a new business. Factor the element of the Pandemic in all the three scenarios

3. Once you know which one is the best for now, begin with telling yourself that you are doing this for a reason.

What is the reason? Managing your home, paying loans etc. Make these responsibilities not an enemy but a friend as it’s not just you but possibly many others who are doing the same

4. Motivation can be from outside or from within you. Tap into both as it comes in handy when a friend keeps you on the right path or you visualize the happiness and comfort that you are seeing yourself and your family in with the decision taken. Meditate for calming the mind if you can.

5. Lastly and most importantly, be grateful for having a job, no matter what it is as there are many who are losing jobs and this is actually a reward for you having one

Life has changing phases and nothing is permanent, so even this phase will give rise to a new and better one. Till then, make the best of this.

Happy Navigating! Have a good life!

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Anu

Anu Krishna  |839 Answers  |Ask -

Relationships Expert, Mind Coach - Answered on Oct 27, 2020

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Relationship
I saw your helpline and thought of asking for help. I m a sales guy aged 50 and recently joined a company. It is neither a MNC nor a middle sized organisation. Considering the fact that this is new organisation i need to prove my worth. There is tremendous pressure to perform. There is absolutely no support from the company people to send quotations etc which they take their sweet time and they give reasons like Covid -19 etc for the delay and they do not expect us to give reasons for failure. If u look at it from my perspective , I have joined in the month of Feb 2020 wherein March-April and may were locked down months. Just now the business has started signs to improve. Instead of supporting the team they keep on finding little faults which does not motivate but de-motivates me. A colleague before me has already been sacked after 5 months and I am not sure when my turn will come. I feel it may be next month too. I have not tried to reason out with them or they may say I am trying to give reasons for my failure. On top of that I have been reporting to 4 bosses who just write to me as per their whims and fancies. Plz let me know what best I can do to survive this time frame. I am just keeping mum bcoz there are no jobs available in the market and I am doing my best, In fact as this is an automotive industry it takes time to materialise and everywhere is there is a slowdown in business. I would not like to give reasons but still it becomes difficult to survive. Plz advice and help.
Ans: Dear SK, I can only imagine the agony that you are going through and I have been coaching many people on this since the time the lockdown began.

None of us knew what the Pandemic would mean and what it would do to our businesses or work or home. It has managed to create new situations that we have no idea of how to handle.

This has caused a lot of anxiety and strain and we have perhaps begun to imagine the worst.

But what if I tell you that the situation is changing and so will the situation at your office?

Will you be inclined to believe that?

Even the top management is behaving in a wayward manner as this is all new to them; especially working from home for many and not much facetime which I guess as a Sales guy you are used to.

Since the response from the markets are not so good, it is bound to show up as a poor performance on your record, this is a valid concern…but to go into work, everyday keeping this in mind may not be effective even with the smallest of tasks as the anxiety keeps you on the edge not doing much but worrying to save your job.

Also, what happened to your colleague may not happen to you. So why focus all your energies on something that may not happen?

Instead, simply focus on ‘realistic’ targets that are achievable at this time.

Also, since you have joined only early this year, I do feel, it is imperative for you to know really your hierarchy and reporting structure. If there are conflicts at the top and you are bearing the brunt, either you need to roll up your sleeves and ace the politics that possibly others are facing too or simply do what you can.

Step back and observe what is going on and for this, you need to be a little calm to understand the WHY of 4 bosses!

It may all but be an imagined stress and it might just need a bit of a tweak to be in a better rapport with each of them.

Sometimes, what is little, becomes big in the mind as it is cluttered with a lot of if and buts with either lack of information or simply creating stories out of apprehensions and fears.

Please take care of your health and this helps keeping the mind in a better space to deal with what is going on.

Ultimately, tell yourself: “NOTHING IS WORTH STRESSING OVER SO MUCH. Everything falls into place, once I take charge!”

Take charge and take care of your health. Best wishes.

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Career

Career Coach  |39 Answers  |Ask -

Workplace Expert - Answered on May 03, 2024

Asked by Anonymous - May 02, 2024Hindi
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Career
I am a 41-year-old consultant working for an IT firm for the past 16 years. Lately, my job has been very demanding. I have been working 14 to 16 hours at work, with no weekends or holidays. The work pressure is taking a toll on my physical and mental health. I was unwell for two weeks and have been advised by doctors to consider taking up a less stressful job. I have a masters in finance. Do you have any suggestions on what alternate career options I could consider?
Ans: Absolutely, it sounds like you've been burning the midnight oil for quite some time! It's crucial to prioritize your health and well-being, especially when the demands of your job start to affect you physically and mentally. Let's explore some alternative career avenues where you can still leverage your expertise and experience in finance without the overwhelming stress:

1. Financial Technology (FinTech) Specialist:

Step into the world of FinTech, where your expertise in IT and finance can revolutionize traditional banking and financial services. By developing innovative solutions that streamline processes and enhance user experiences, you'll contribute to a more efficient and accessible financial ecosystem, all while enjoying a less stressful work environment compared to client-facing roles.

2. Cybersecurity Analyst in Finance:

Protecting sensitive financial data is paramount in today's digital landscape. As a cybersecurity analyst specializing in finance, your dual proficiency in IT and finance equips you to safeguard financial institutions from cyber threats with precision and expertise, all while enjoying the stability of a role focused on risk mitigation rather than high-pressure client interactions.

3. Quantitative Analyst (Quant) in Finance:

Dive into the world of quantitative analysis, where your technical prowess and financial insight can drive data-driven decisions in portfolio management, risk assessment, and trading strategies. By leveraging your combined knowledge, you'll excel in roles that prioritize analytical rigor and strategic thinking, offering a more predictable and structured work environment compared to consultancy roles.

4. Financial Systems Analyst:

Become the bridge between IT systems and financial operations within an organization. Your ability to optimize financial software systems while ensuring compliance and efficiency will contribute to smoother workflows and reduced stress for finance teams, offering a rewarding blend of technical problem-solving and financial acumen without the demands of client-facing roles.

5. Data Scientist in Finance:

Unlock the power of data in the financial sector, leveraging your expertise in IT and finance to extract actionable insights from vast datasets. By applying advanced analytics and machine learning techniques, you'll drive informed decision-making and strategic planning, all while enjoying the autonomy and intellectual stimulation of a data-driven role with less client pressure.

In these specialized roles, your unique blend of IT and finance knowledge positions you for success in environments that prioritize innovation, efficiency, and strategic thinking over relentless work hours and client demands. By capitalizing on your strengths and pursuing a career path aligned with your interests and well-being, you can achieve professional fulfillment without sacrificing your health and happiness.

..Read more

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Ramalingam

Ramalingam Kalirajan  |1709 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on May 08, 2024

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I'm an NRI. We're planning to return to India for my wife's health reasons - the family support and help needed at home will be better here in India for changes in her lifestyle due to multiple health challenges she's facing. The question in front of us is, health insurance for my wife. Initially she is returning to India in June/July 2024 and in one year, I will be shifting after sorting out transferring my job from my US company our Hyderabad office - takes time for approvals and official/legal/immigration/financial norms to comply for the transfer. Once I transfer to Hyderabad in June/July 2025, I will get company provided health insurance in Hyd and my wife will be on it. Till then, for next one year, I'm working in US and I've company provided health insurance in US but not in India, but my wife will be in India. Can we buy health insurance as individuals in India? I quickly scanned and found Tata AIG, HDFC, ICICI offering health insurance but it was not clear to me whether private individuals can buy it, will it cover regular hospital visits, medicines, medical equipment supplied and how good the coverage and how well the participating hospitals are across the country and in major city like Hyderabad? My wife is diabetic, needs insulin, has arthritis, has gluten issues. Please help us with any insight, guidance you can provide on health insurance access for my wife.
Ans: Hello,
It's understandable that you're concerned about your wife's health insurance coverage during the transition period before you relocate to India permanently. Here are some insights and guidance to help you navigate this situation:
1. Health Insurance for Individuals: Yes, private individuals in India can purchase health insurance policies. Many insurance companies, including Tata AIG, HDFC, and ICICI, offer health insurance plans that cater to individual needs.
2. Coverage: Health insurance policies typically cover hospitalization expenses, including room rent, doctor's fees, medical tests, surgeries, and medication costs. However, coverage for pre-existing conditions such as diabetes, arthritis, and gluten issues may vary depending on the policy terms and conditions.
3. Policy Features: When selecting a health insurance policy, consider factors such as coverage for pre-existing conditions, waiting periods, network hospitals, claim settlement process, and premium costs. Look for policies that offer comprehensive coverage and benefits suited to your wife's specific health requirements.
4. Network Hospitals: Most health insurance providers have tie-ups with a network of hospitals where policyholders can avail of cashless treatment facilities. Before purchasing a policy, ensure that there are network hospitals available in Hyderabad and other cities where you may need medical assistance.
5. Customized Plans: Some insurance companies offer customized health insurance plans for individuals with pre-existing conditions. These plans may provide enhanced coverage for chronic illnesses like diabetes and arthritis. Consider exploring such options to meet your wife's healthcare needs.
6. Consultation with Insurance Advisor: To make an informed decision, consult with an insurance advisor or agent who can guide you through the process of selecting the right health insurance policy based on your wife's health condition, budget, and coverage requirements.
By researching various health insurance options, comparing policy features, and seeking expert advice, you can find a suitable health insurance solution to ensure your wife's medical needs are adequately covered during the transition period.

Best Regards,
K. Ramalingam, MBA, CFP,
Chief Financial Planner,
www.holisticinvestment.in

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Ramalingam

Ramalingam Kalirajan  |1709 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on May 08, 2024

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Hello everyone! I want to start an SWP. I'm ready to invest 25 lakhs at once and need 26000 every month for the next 30 years.I'm expecting 12%-15% CARG. Please suggest to me should I invest in one fund or multiple funds, what would be the better approach and which will be the best fund ?
Ans: Starting a Systematic Withdrawal Plan (SWP) is a wise decision for generating regular income from your investment corpus. Here's how you can approach it:
1. Investment Strategy: Given your requirement for regular monthly income over the next 30 years, it's essential to adopt a balanced investment strategy. Diversifying your investment across multiple funds can help mitigate risks and enhance returns over the long term.
2. Multiple Funds vs. Single Fund: Opting for multiple funds provides diversification across different asset classes, sectors, and fund managers, reducing concentration risk. It's advisable to spread your investment across equity, debt, and hybrid funds based on your risk tolerance and investment horizon.
3. Asset Allocation: Allocate your investment based on your risk appetite and financial goals. For instance, you can consider investing a portion in equity funds for potential capital appreciation and the remaining in debt or hybrid funds for stability and regular income.
4. Fund Selection: Choose funds with a track record of consistent performance, experienced fund managers, and a robust investment process. Look for funds that align with your risk profile and investment objectives. Consider factors such as fund size, expense ratio, risk-adjusted returns, and portfolio quality.
5. Risk Management: While aiming for a CAGR of 12%-15% is ambitious, it's crucial to assess your risk tolerance and be prepared for market volatility. Consider a more conservative approach if you have a lower risk appetite.
6. Regular Review: Periodically review your investment portfolio to ensure it remains aligned with your financial goals and risk tolerance. Rebalance your portfolio if needed to maintain the desired asset allocation.
As for specific fund recommendations, it's essential to conduct thorough research or consult a certified financial planner (CFP) who can provide personalized advice tailored to your financial situation, goals, and risk profile.

Best Regards,
K. Ramalingam, MBA, CFP,
Chief Financial Planner,
www.holisticinvestment.in

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Mihir

Mihir Tanna  |824 Answers  |Ask -

Tax Expert - Answered on May 08, 2024

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Ramalingam

Ramalingam Kalirajan  |1709 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on May 08, 2024

Asked by Anonymous - May 08, 2024Hindi
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I am a seniior citizen, husbsnd & wife residing in own house and taking care of siper cirizen (90 yrs) My neibour taken up extension of the building by adding 2 more floors to his existing gf + ff units. Site measuring 30'× 26' ( divided portion of 30'× 53 ' Only 3' to 4' gap is there betwen the stricture now cinstruction & our portion exposing us of falling out of contruction materials on us and Parked vehicle & putting us in lot of risk and axiety . The neibouring owner and the The contractorhas provided side protection partially & not taken safety measures to prevent falling if constn material which would cause damger to us. Reminders to them to provide sufficient protection & safety measures has fallen on deat ears. They are even adament. Suggest a best way to resolve the issue without affecting the relationship with each. other afterall we neibours.
Ans: I understand the concern you're facing with the construction activity next door and the potential risk it poses to your safety and property. It's indeed a challenging situation, especially when dealing with neighbors.

Here are some steps you can consider to address the issue without straining your relationship:

Open Communication: Initiate a conversation with your neighbor in a calm and respectful manner. Express your concerns about the safety hazards caused by the ongoing construction activity. Approach the conversation with empathy and understanding, acknowledging that you both share the same neighborhood.
Collaborative Solutions: Instead of placing blame, focus on finding collaborative solutions that ensure the safety and well-being of both parties. Propose practical measures such as installing additional safety barriers or netting to prevent debris from falling onto your property.
Seek Mediation: If direct communication doesn't yield positive results, consider involving a neutral third party, such as a community leader or mediator, to facilitate a constructive dialogue between you and your neighbor. Mediation can help find mutually acceptable solutions while preserving the relationship.
Legal Options: As a last resort, you may explore legal options to address the safety concerns if all attempts at resolution fail. Consult with a legal expert to understand your rights and options under local laws and regulations governing construction activities and property disputes.
Remember, the goal is to resolve the issue amicably while safeguarding your safety and well-being. Maintaining a positive relationship with your neighbor is essential for a harmonious neighborhood environment.

Best Regards,
K. Ramalingam, MBA, CFP,
Chief Financial Planner,
www.holisticinvestment.in

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Ramalingam

Ramalingam Kalirajan  |1709 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on May 08, 2024

Asked by Anonymous - Apr 25, 2024Hindi
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I am 38 year old. Me & Wife both earn approx 12 lac per year. I have corpus of 3 CR as FD, MF, Shares. No liability. I have one daughter age 6. Can we both retire by 2028 ?
Ans: It's great to hear that you've accumulated a substantial corpus at your age, and it's certainly possible to consider early retirement given your financial situation. However, there are several factors to consider before making such a significant decision:
1. Current Expenses and Lifestyle: Evaluate your current expenses and lifestyle to determine if they are sustainable after retirement. Consider factors such as healthcare expenses, children's education, and any other financial commitments.
2. Retirement Goals: Define your retirement goals, including the desired lifestyle, travel plans, and any other aspirations you may have. Ensure that your retirement corpus can support these goals for the desired duration.
3. Inflation and Longevity Risk: Account for inflation and longevity risk, as retirement could potentially last for several decades. Ensure that your corpus is adequately inflation-adjusted and can last throughout your retirement years.
4. Health Insurance and Contingency Planning: Ensure that you have adequate health insurance coverage for you and your family to mitigate any unforeseen medical expenses. Additionally, have a contingency fund in place to handle any emergencies or unexpected expenses.
5. Professional Advice: Consider consulting with a certified financial planner who can assess your financial situation comprehensively and provide personalized advice based on your goals, risk tolerance, and investment horizon.
Given your substantial corpus and relatively high income, early retirement is feasible with careful planning and prudent financial management. However, it's crucial to conduct a thorough analysis of your financial situation and retirement goals before making any decisions.
Best Regards,
K. Ramalingam, MBA, CFP,
Chief Financial Planner,
www.holisticinvestment.in

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Ramalingam

Ramalingam Kalirajan  |1709 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on May 08, 2024

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How much is it advisable to have a seperate health insurance apart from CGHS provided for government employee? Is it advisable to take one from outside to secure family members health or not required? I need to know about post retirement also. Will be CGHS card sufficient after post retirement?
Ans: Having a separate health insurance policy in addition to CGHS (Central Government Health Scheme) coverage can provide additional benefits and coverage options, especially for family members. While CGHS offers comprehensive healthcare coverage for government employees and their dependents, there are certain limitations and restrictions, such as restricted network hospitals and specific treatments covered.
Here are some points to consider regarding health insurance for government employees and post-retirement:
1. Coverage for Dependents: CGHS typically covers the employee and dependent family members. However, having a separate health insurance policy can offer additional coverage options for family members, including parents, spouse, and children.
2. Wider Coverage and Flexibility: A standalone health insurance policy from an insurance provider offers a wider range of coverage options, including pre-existing conditions, critical illnesses, and outpatient expenses. It also provides flexibility in choosing hospitals and medical facilities.
3. Post-Retirement Coverage: CGHS coverage continues post-retirement for pensioners who opt for it. However, having a separate health insurance policy can provide additional coverage options and flexibility, especially as healthcare needs may evolve with age.
4. Comprehensive Protection: While CGHS provides comprehensive coverage, having an additional health insurance policy ensures comprehensive protection against medical expenses, ensuring peace of mind for you and your family.
In summary, while CGHS coverage provides significant benefits for government employees and pensioners, having a separate health insurance policy can offer additional coverage options, flexibility, and peace of mind, especially for family members. It's advisable to assess your healthcare needs, family composition, and budget to determine the most suitable health insurance coverage for you and your family.
Best Regards, K. Ramalingam, MBA, CFP, Chief Financial Planner, www.holisticinvestment.in

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Sushil

Sushil Sukhwani  |339 Answers  |Ask -

Study Abroad Expert - Answered on May 08, 2024

Ramalingam

Ramalingam Kalirajan  |1709 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on May 08, 2024

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Hi Sir/Ma'am, I am 25 yrs old and my take home monthly is approx 1.2 lacs working in IT. Currently I am investing in PPF since 2020. Used to invest around Rs. 1000/- pm but slowly increased my investment to 12,500 from last month onwards and looking to continue the same. Since beginning of this year, I have started to invest in mutual funds with a monthly SIP of 15,000. I invest in a mix of small, mid and large cap funds. Does it makes sense to consider investing in ELSS tax saver funds? Do they generally give good returns as compared to SML cap funds? I am looking to step up my SIP by 10% every year. My goal is to attain financial freedom in the next ten years with more 1cr. as a corpus. I also have a LIC jeevan anand policy and I invest around 1,250/- every month which will mature in next 10 years. In order to achieve my financial goal fast, should I increase my monthly SIP to maybe 30k by decreasing the amount invested in other schemes? I know that SIPs generally comes with a better return but with a high risk. Is there any other scheme that I should opt for which gives higher return? Please suggest how to go about it based on my current income and living expenses. I also have some liabilities after investments such as: Personal loan: 45k Consumer loans: around 10k House expenses: 20k My current investment portfolio so far: SIP: 40K (Recently started as mentioned) PPF: 2.2 lacs EPF: 1.8 lacs LIC: 1 lac Thank you!
Ans: Firstly, I commend you for taking proactive steps towards building your financial future at such a young age. Your commitment to increasing your investments over time is commendable and will serve you well in achieving your financial goals.

Regarding your query about ELSS tax saver funds, they can indeed be a valuable addition to your investment portfolio. ELSS funds not only offer tax benefits under Section 80C of the Income Tax Act but also have the potential to generate higher returns over the long term compared to traditional investment avenues like PPF.

As for comparing ELSS funds with small-cap funds, it's essential to understand that they belong to different categories with varying risk profiles. Small-cap funds typically carry higher risk but also have the potential for higher returns, while ELSS funds invest primarily in equity markets and have the added advantage of tax benefits. Both can play a role in diversifying your investment portfolio and achieving your financial goals.

Considering your goal of attaining financial freedom in the next ten years with a corpus of over 1 crore, it's essential to review your investment strategy periodically and make adjustments as needed. Increasing your monthly SIP to 30k and potentially reallocating some funds from other schemes could be a prudent move, given your high income and relatively low living expenses.

Regarding your existing LIC Jeevan Anand policy, surrendering it and reinvesting the proceeds in mutual funds could potentially yield higher returns, especially considering your long investment horizon and risk tolerance. However, it's essential to evaluate the surrender value, any applicable penalties, and the potential tax implications before making a decision.

In summary, continue with your disciplined approach to investing, consider adding ELSS funds to your portfolio, and review your investments periodically to ensure they align with your financial goals and risk tolerance.

Best Regards,
K. Ramalingam, MBA, CFP,
Chief Financial Planner,
www.holisticinvestment.in

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Ramalingam

Ramalingam Kalirajan  |1709 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on May 08, 2024

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I wanted to purchase a plot in 2021 in Visakhapatnam and approached a mediator. That mediator took to an another mediator who himself pretended to be an owner and I was forced to pay him Rs.1.50 L towards token amount. Since the day I paid token money, he started insisting to pay full amount towards sale consideration before the registration of land takes place. I believe he had entered into an unregistered agreement with the owner and he does not want me to introduce myself to the owner. I insisted him to introduce me to the owner, but in vain. We mutually, fixed a date for registration. I went to Vizag from Hyderabad for this purpose. Further, he was supposed to get a survey number clearance certificate from MRO which he failed to get it till last moment of registration day. I was also supposed to complete the process of registration and leave for Hyderabad that particular day. Because of his non-cooperation, dominating nature, dictating answers over phone and delaying process, I cancelled the deal and informed over phone as well as Whatapp and cam back to Hyderabad. Since then (almost 3 years), he paid only Rs.50,000/- and Rs.1.00 lakh has still to be paid by him. I have been persuading from time to time and he has been postponing the re-payment. At the time of payment made, he signed a receipt for the payment received in which he has also written all the details of property even though the property did not belong to him formally. I would now request you to please advise me what are the option I have to recover my money from him.
Ans: I'm sorry to hear about your experience with the mediator, and it sounds like a frustrating situation. Here are some options you can consider to recover your money:
1. Legal Action: You can consider taking legal action against the mediator to recover your money. This may involve filing a civil lawsuit for breach of contract or fraud. Consult with a lawyer who specializes in property disputes to understand your legal rights and options.
2. Mediation or Arbitration: Before pursuing litigation, you may want to explore options for mediation or arbitration. This involves a neutral third party helping you and the mediator reach a resolution outside of court. It can be a faster and more cost-effective way to resolve disputes.
3. Demand Letter: Sending a formal demand letter to the mediator may prompt them to take action to resolve the issue. The letter should outline the details of the agreement, the amount owed, and a deadline for payment. Keep a copy of the letter for your records.
4. Negotiation: You can try negotiating directly with the mediator to reach a mutually acceptable solution. This could involve agreeing on a repayment plan or other terms to settle the debt.
5. Reporting to Authorities: If you believe the mediator engaged in fraudulent or illegal activities, you may consider reporting them to the appropriate authorities, such as the police or consumer protection agency.
It's important to gather any evidence you have related to the transaction, such as receipts, agreements, and correspondence, to support your case. Consider seeking advice from a legal professional to explore the best course of action based on your specific circumstances.
Best Regards,
K. Ramalingam, MBA, CFP,
Chief Financial Planner,
www.holisticinvestment.in

...Read 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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