Select the Right Asset Class for Your Needs

This is a typical missed opportunity incident of Alok Kumar (name changed) who is 55 year old, working for a private organisation, married (wife is a home maker) and has two daughters, both studying in college. He stays in his own apartment for which he is paying regular EMIs that would last another two years.

His wife’s elder brother had come from the US of a recently for a family function and happened to meet Alok’s family over an evening coffee. He got to know that Alok’s first daughter was completing her engineering later this year and casually asked what she was planning to do eventually, to which she replied she would be seeking a job. The uncle nonchalantly suggested that why not she pursue her higher studies in the US, which would make her more employable and she could even seek opportunities in the one of world’s most admired countries.

Once the uncle left from their house, the bug of studying in America bit Alok’s young daughter. In fact, Alok himself got surprised at this unexpected advice by his relative and the fact that his daughter took it quite seriously too. Alok was not financially ready to fund his daughter’s higher education and started to worry about the cost. From the next day, he started making enquires and learnt that it could cost him a bomb — about Rs 30 lakh for a 15-18 months course in one of the better universities in America.