A private sector employee, Raja Paul, 51, is a resident of Ahmedabad. He lives in the city with his wife, Sampati, a homemaker and son, Hrishav who has just completed his engineering degree from one of the premier institutes in India.
Paul had always dreamt of a life that had professional and financial stability, while also staying debtfree. Once he got married, he also discussed his financial aspirations with his partner. Such discussions are indeed meaningful so that the financial interests of a couple stay aligned with each other.
Even though Paul had been cautious and wise in his approach towards financial prosperity, he would often fall for traditional investment products. Before he met Deepesh Arora, Director, Silver Line Wealth Management, Paul’s investment portfolio was mostly filled with traditional investment products such as bank deposits, endowment policies and life insurance policies.
He makes an honest confession about his investment as he shares, “Most people buy insurance as an investment product or rather, it is sold that way to make it attractive for the buyer. I was no exception.” With such investments yielding lower returns, their impact in longterm wealth creation can turn out to be really unfortunate.
This story is from the February 2020 edition of Outlook Money.
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This story is from the February 2020 edition of Outlook Money.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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