Nadeem Ahmed, a salaried executive of 31 years, approached us in June 2006 for financial guidance.
He was still single and had many challenges to meet. The only good thing he had done was buying a ready flat in Mumbai’s suburbs. He disclosed to us all his financial and personal information and reposed absolute faith in our expertise.
1st Edition of his Financial Planning,June 2006: Single, aged 31 years. Monthly take-home salary Rs. 60,000. Housing loan liability Rs 25 lakh. Loan EMI Rs 23,000. Home and personal expenses Rs 12,000 and Net saving capacity Rs 25,000
Marriage of Self: He was advised to get married before the end of year 2007 since he was late in life because financial planning and family panning was to be done side-by-side. The target amount for marriage was Rs 6 lakh and the available corpus was only Rs 1.50 lakh. He was advised to save monthly Rs 25,000 (entire savings) in an Ultra Short Term Debt Fund for the next 18 months. Fortunately, he got married on December 26, 2017 to Sabha Khan, a working woman with take-home salary of Rs 40,000. This gave a boost to his saving capacity in the 2nd Edition of Financial Planning. The couple was advised about the importance of bearing children early since they were late in life and they had the clarity of having two children. Sabha wanted to quit her job after the birth of the first child.
2nd Edition of Financial Planning, January 2008: Married, age 33 years. Collective take-home income of the couple Rs 1 lakh. Loan EMI Rs 23,000. Family expenses Rs 22,000 and saving capacity Rs 45,000..
This story is from the Dalal Street Investment Journal Vol 33 Issue 17 edition of Dalal Street Investment Journal.
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This story is from the Dalal Street Investment Journal Vol 33 Issue 17 edition of Dalal Street Investment Journal.
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