Retirement, children’s education and insurances are the top priorities.
The late 30s to early 40s is a significant phase in one’s life. One is about to reach his career peak and would have already bought a home and probably paying EMIs. Most importantly, children would still be growing up. Professional life would be demanding, but he has to find time for the family. Even as other financial goals require to be fulfilled, he would need to focus on a sound retirement plan, which is due in another 20 or a few years more. A wrong financial choice, at this stage, may turn out be damaging in years to come.
Shikhar Kapoor, 40, hotelier, angel investor and serial entrepreneur, stays in Noida with his wife, Aanjulie Kapoor, 37, Vaastu and FengShui consultant, and their six-year-old son Atharv. “I started my entrepreneurial journey at the tender age of 24 and have seen a lot of struggle, but now things are quite smooth,” he says. Since Atharv was born, several things have changed for them. “Many of our friends work for corporates and they hardly find time for their children. For us, our child and his future is our priority,” Kapoor adds. Since both of them manage their separate businesses, their saving plans don’t work like salaried couples. “We have a fluctuating income, hence try to save the maximum we can,” he informs.
Surat-based businessman Sanjeev Bhatia, and his wife, Hema Bhatia, both 39, similarly want to ensure that their children, aged 13 and seven, receive good education. On the other hand, Bhatia, owner of onlymobiles. com, an online mobile store, and a chain of mobile retail stores, is looking to expand his business, which requires a substantial amount of investment. “I have it planned out. I allocate 30 per cent of my income to meet my regular expenses, put back 40 per cent into the business and invest the rest 30 per cent,” he says. These investments help him to meet his short-term and long-term goals.
Bu hikaye Outlook Money dergisinin September 2018 sayısından alınmıştır.
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Bu hikaye Outlook Money dergisinin September 2018 sayısından alınmıştır.
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