What are all the information I need to know before shifting my career to Psychology being an Enginee

I don't think anyone can answer these questions any better than your advisor at school. Talk to that person, and to advisors at schools that interest you. In particular, no one on the planet can answer #4 and #5, as #4 is dependent upon your schedule, whether you're working, etc. and #5 requires a prediction of the future job market that even bona fide experts will admit is a lot like throwing darts at a board when you're looking at a prediction for 3, 4, 5, or more years from the present time.

I am a distance learner, and I will tell you right now that you need to motivate yourself. I have no problem with this, but I have seen plenty of classmates who seem to be utterly incapable of this. Another bit of advice I can give you is to look for accredited, respected schools with good placement rates that afford a distance option. That is, as opposed to pure distance schools, as those are newer, don't have the reputation, don't have the built-up placement department, and can sometimes be fly by night.

I would advise you also to seriously think about psychology as a field, and see if you can work with someone before you commit yourself to yet more education. I realize this is a field where you cannot shadow someone (due to patient confidentiality issues), but at least talk to a variety of people in the field. Do they like what they're doing? Do they regret their choices? If technology or circumstances had been different, would they still have gone into the field?

That is, determine whether you are truly interested in this field or if you're in avoidance mode and trying to avoid going out to work in mechanical engineering. I'd also explore why you went into engineering in the first place. You may find that you still have a passion for it, but not in mechanical.

I doubt that distant learning in psychology is really going to work.
As a rule you yourself have to have therapy and also you also have to have clients in therapy under supervision from a good psychologist.
If you only want to give tests and make statistics maybe distance learning would work out.

What are all the information I need to know before shifting my career to Psychology being an Enginee

You can cut your income to about half, for starts.

Thank you so much for your reply. Well, I will search thoroughly before deciding my option to go to Psychology. Thanks for your advises too.

I am not the one who choose Mechanical Engineering with passion and desire. I was driven by my brothers decision. If I found my passion earlier I could have choose psychology at first

Thank you for the reply. You gave lot of information to me.

Thank you for the reply. Yes its a good info