It was a Tuesday afternoon. I was busy in the office working on the presentation. Suddenly, my ringing phone caught my attention. I could see ‘Dad’. I put the receiver on my end.
‘There’s good news beta. I have bought an awesome holiday home & we will get it in the next 3 months,’ he said from the other end.
‘Amazing papa,’ I yelled in excitement.
It was his dream (and mine) to buy a holiday home and he had started preparing for the same 20 years back.
I was filled with thrill and joy to see our dreams turn into reality till the time one thought suddenly struck me. ‘Will I ever be able to build or come even close to living such dreams? Will I be able to take forward his legacy of fulfilling most dreams of my family, now and even in the future?’
With these thoughts, hundreds of other questions gripped me completely.
Though my parents never displayed or complained, they compromised their dreams to fulfil ours. When I hear their early struggling days, it surely wasn’t as simple as it is for me now.
They followed a simple investment methodology that has been passed down for many generations. The trick is simple: save as much as you can and spend as little as you can. At the age of 35, he was able to purchase his first home by investing in PPF’s, Pension Schemes and FD’s throughout his life.
But now, the scenario is completely different.
The millennial wish-list is increasing, wants are mounting and with this, the chances of retiring comfortably is becoming leaner.
Today we have long bills of branded clothes, restaurant costs, exotic vacations, latest gadgets, clubbing, etc. To make it worse, the use of plastic money or digital wallets makes you spend more than what you intended, and then end up paying interest on it. For them, a car was something that lasted for a couple of decades, for me, a car would surely not last for over 5 years.
The traditional investment methods such as PPF’s, FD’s, etc. are no longer going to help us to buy our dream home or lead the retirement of our choice
To tick off the extra to-do-lists, we need to take an extra step.
That’s where my quest for a solution to accomplish my objectives began.
As a first step, I had to assess my risk appetite against the returns expected. FD’s, PPF’s, ELSS, Pension schemes may be less risky, but they are not capable of beating inflation.
To have a retirement corpus of Rs. 5-6 crores (will that be enough then, I doubt) in the next 20-25 years, I have to invest starting now and I doubt with the returns on investment as low as what FDs and PPFs provide, I can never expect a happy retirement.
This gets me to a burning question, WHAT DO I DO?
Probably apart from equities, there is no other way.
But there are 5,000 stocks listed plus hundreds of research reports on the internet. Plus, there are so many so called financial advisors out there, some qualified but most self-certified.
How do I craft a portfolio which is meant for me? How do I develop a portfolio that targets my financial concerns and is designed to accomplish my financial objectives?
The complexities are many and the time is less.
I just don\’t need any random offering. I need a solution which takes into account the needs of my future generation and help me craft a solution to realise their objectives and aspirations.
What I need is an end-to-end solution, where I can concentrate on my work and forget the financial stress and worries in my life.
I know that money is not everything, but it does help ease out a few things. And I cannot afford to be only concentrating on it. It will either cost me my job or my family time.
I have seen many families suffering from the financial stress at one point or the other, which impacts their children as well.
My parents did the best and a lot more for me, so my life could be smooth and easy.
But as I introspect, I wonder how it would have felt to compromise any of my dreams or objectives. I am sure it’s an awful feeling and I don’t want my children to go through that.
Financial habits are like a legacy, which are passed from one generation to the next. Good financial habits help an entire family and even their future generations achieve financial bliss.
It’s time to give your child & your loved ones a priceless gift – An Healthy Financial life.
It not only helps you to be free you from all the financial stress, but also somewhere helps you to achieve emotional stability & security.